Greyerz – The ECB Move, $4,000 – $5,000 Gold & $150 Silver
September 6, 2012
Today Egon von Greyerz told King World News, “… we are now seeing a lot of fund managers and investors moving out of gold ETF’s, and taking delivery of physical gold and holding it outside of the banking system.” Greyerz, who is founder and managing partner at Matterhorn Asset Management out of Switzerland, also warned this is happening because they are now, “… deeply troubled at the thought of a systemic collapse.”
Greyerz also noted, “This move in gold and silver has barely started.” But first, here is what Greyerz had to say about the ECB announcement: “Eric, we had the announcement today that the ECB has agreed to unlimited bond buying. That means whatever amount is necessary, they will buy. This is designed to reach the objective of controlling interest rates so they don’t get out of hand in the peripheral countries of Europe.”
Egon von Greyerz continues:
“He (Draghi) also said they will do all they can to preserve the euro and the eurozone. They also want the IMF to be involved. So here is the evidence that we are getting near this worldwide package of money printing which I have previously stated is in the works. But the market is confused as to how they are going to do this without the central banks of the individual countries behind them.
Nevertheless the money printing will come, it’s absolutely guaranteed. This was just the first step, and notice they used the word ‘unlimited.’ As Draghi indicated, large parts of the euro are in disequilibrium…..