Greyerz – Gold Will React to the $120 Trillion of Additional Debt
KingWorldNews.com
March 16, 2012
Today Egon von Greyerz told King World News that global debt has increased 140% in the last ten years. Von Greyerz also said even though the massive creation of debt has yielded virtually no GDP growth, the gold market will soon react to the money printing binge. Egon von Greyerz is founder and managing partner at Matterhorn Asset Management out of Switzerland. Here is what von Greyerz had to say: “We are all focused on the short-term and that’s natural, but let’s step back and look at the longer-term picture because that is really what is important for us today and for the next few years. The bigger picture is so important because very few people understand that the last 100 years are exceptional in history.”
Egon von Greyerz continues:
“The prosperity that we’ve had since the early 1900s, to a great extent is governed by massive money printing. Let’s just take GDP for example. In the first 50 years of the 1900s, for every dollar of debt about five dollars of GDP was generated. So five times the amount of debt created was generated in GDP in the US.
Over the last eleven years, for every dollar of debt creation only six cents of GDP has been generated. That’s six cents compared to five dollars. That is just incredible….
The Rest…HERE
