WITHOUT GOLD THE WEALTHY WILL BE WIPED OUT

Sunday, May 26, 2019
By Paul Martin

by Egon von Greyerz
GoldSwitzerland.com
May 24, 2019

The massive explosion of wealth in the world could be a sign of general prosperity but that is certainly very far from the truth. The printed money and credit expansion has only benefited a very small minority. The gap between the rich and the poor is getting ever wider but it will soon shrink dramatically.

The Sunday Times in the UK just published its annual Rich List of the 1,000 wealthiest UK residents. There are today 151 UK billionaires with a total wealth of £771 billion. When the list was started in 1989 there were 9 billionaires. In 1989, £30 million was enough to put you in the 200th richest, in 2019 you would need £700m. In 1989 £5 million was enough to be included in the list and today you need £120m. So over a 30 year period the qualifying level to be in the top UK 1,000 went up 24 times from £5m to £120m.

Neither the publisher of the list, nor a single one of the 1,000 wealthy UK individuals realise that in the next 5-10 years they will have lost on average at least 75-90% of their wealth in real terms. The world is about to experience the biggest wealth destruction in history which will destroy the artificial paper wealth that central banks have created. This will of course happen worldwide.

Neither the publisher of the list, nor a single one of the 1,000 wealthy UK individuals realise that in the next 5-10 years they will have lost on average at least 75-90% of their wealth in real terms. The world is about to experience the biggest wealth destruction in history which will destroy the artificial paper wealth that central banks have created. This will of course happen worldwide.

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