RE:RE:Egon von Greyerz: Gold To Skyrocket! Rgd`s, delazus Google "Egon von Greyerz""eric sprott" and you'll get lots of returns...taking you mainly back to King World News and 24hgold.com, where Eric Sprott's blog is often prominently featured and quoted.
Here's Egon's bio, from his postings on 24hgold.com (where, IMO, both he and Eric are quoted too frequently)
"Egon von Greyerz is the managing director of Matterhorn Asset Management AG based in Zurich Switzerland. He specialises in wealth preservation with
the special emphasis on physical gold stored in Zurich outside the banking system."
More from Greyerz posting on 24hgold.com
https://www.24hgold.com/english/contributor.aspx?article=4530972868G10020&contributor=Egon+von+Greyerz
Matterhorn / GoldSwitzerland opens new Gold & Silver vaulting facilities in Hong Kong and Singapore
Matterhorn Asset Management / GoldSwitzerland is the only company in the world offering gold and silver storage in four locations with personal ownership and access for the investor.
In addition to the existing two vaults in Switzerland (Zurich and Swiss Alps) clients can, from October 1 2013, also store their precious metals in Singapore and Hong Kong.
Matterhorn acts as a facilitator for investors in precious metals who can buy and sell gold and silver as well as transfer existing holdings. Matterhorn also advises clients on their precious metals strategy. The precious metals are held in the name of the investor who thus has sole control of the investment.
pigbruinmcveid wrote: delazus wrote:
Gold To Skyrocket As Paper Financial Assets Are Decimated 6/12/2015 Today the man who has become legendary for his predictions on QE, historic moves in currencies, and major global events warned King World News that unprecedented financial destructions will engulf the world. He also warned that a major panic is coming as the world is rocked by global financial chaos. Egon von Greyerz: And if you adjust for inflation and take gold back to the 1980 highs, the 1980 high today would be over $9,000. One of the charts KWN featured showed that if we adjusted the 1980 high today for gold vs the monetary base, the price of gold would be nearly $20,000. So on any basis gold is massively undervalued. But that is likely to change in 2015. Whether the move higher starts during the summer or in the autumn doesn’t really matter. At $1,200, gold is the best investment and insurance that you can buy.
There is a 21st century counter perspective to gold. Its called bitcoin.
Like gold, bitcoin has no counter party risks.
Like gold, bitcoin is expensive to manufactor. Today it is probably cheaper to mine a gram of gold than it is to produce a new bitcoin. In fact today, it is probably much easier to mine a gram of gold (just melt down a few old pcs and you've got a gram of gold plus a huge enviro mess) than it is produce a new bit coin (huge amount of power draw to do the computation but no nviro mess).
I can move a ten million dollars of bit coin in a zip drive weight 10 grams or via email. Now trving the same amount of gold.
While gold is shiny and nice to look at, would I want to pay 10,000 for an ounce? Maybe but for many people in the 21st century bitcoin might be the better option.
The other factor against gold staying even above Sprott's 2400 level, is basic supply and demand. There are huge numbers of ounces in copper gold porphyrys thruogh the world that aren't economic to develop at $1500 but would be a $2500. Plus copper is the basis of civilization techological advancement so it is a win win.... Toss in automation, and you get a natural cap on the price of gold.
So, Egon is definitely old school and it really is different thsi time :)... oh, no, did I just say its different this time... hate when I do that... :)
That said when the US dollar finally fails we'll probably see 50,000 or even 100,000 gold. But that will only come after the 2nd american civil war and that is more likely to 50 years off in the future than 5 years.