Gold & Silver Smash & Fires Burning Everywhere In The World

Today Egon von Greyerz spoke with King World News about the gold and silver smash, and the disturbing reality of what is happening in various troubled countries around the world.  Investors have also seen some shocking moves in global markets recently and below is what Greyerz, who is founder of Matterhorn Asset Management out of Switzerland, had to say in this powerful interview.

Greyerz:  “On a day like today investors have to put aside the short-term action in gold and silver and look at the fundamentals.  It’s hard to know where to start, Eric.  There are fires burning everywhere in the world, and these fires can’t be extinguished.

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Therefore, all governments and central banks will do is put more fuel on the fires because they don’t have any other tools to rectify these massive problems that we have in the world….

“Any of these fires could be the catalyst for the next major crisis, and the next crisis in the world will be much more severe than in 2008.  I’ve previously stated that Japan is a basket case that can never be saved.  And of course Japan is the world’s 3rd biggest economy.

When you look at China, its financial system and economy is a bubble.  The bursting of this bubble will likely have a massive effect on the world economy and global trade.  Therefore, both Japan and China will continue to expand credit and print money.  That’s the only thing they can do to save their economies.  Of course the consequences will be inflationary, and most likely hyperinflationary.

If you look at Europe, we just had two central banks confirming that their economies are in real trouble.  The ECB just had a press conference where Draghi stated that rates will stay low for an extended period.  The ECB is under tremendous pressure.  It’s balance sheet is full of toxic debt from its member countries.

These debts are guaranteed by the member countries, and some also by member country banks, and these debts are held on the ECB balance sheet at par.  These assets are not worth par.  Some of it is worth less than 50% of par.  So you have a potential write off for the ECB of hundreds of billions of dollars, or maybe even one trillion dollars.  And even though the member countries and some banks are guaranteeing the money, they don’t have the money to pay the ECB.  So the ECB will be forced to print a lot more money.

Source: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/7/5_Gold_%26_Silver_Smash_%26_Fires_Burning_Everywhere_In_The_World.html

Swiss Refiner Delays Hit 5 Weeks On Massive Gold Demand

Today Egon von Greyerz told King World News that delays from Swiss gold refiners have expanded to a stunning 5 weeks.  KWN readers need to remember that the Swiss refiners refine over 75% of the world’s gold supply.  Greyerz also discussed what is happening with gold demand in other key markets.  Below is what Greyerz, who is founder of Matterhorn Asset Management out of Switzerland, had to say in this remarkable interview.  

Today Egon von Greyerz told King World News that delays from Swiss gold refiners have expanded to a stunning 5 weeks.  KWN readers need to remember that the Swiss refiners refine over 75% of the world’s gold supply.  Greyerz also discussed what is happening with gold demand in other key markets.  Below is what Greyerz, who is founder of Matterhorn Asset Management out of Switzerland, had to say in this remarkable interview.

“Paper money hides the truth, and the truth is that most of the increase we have seen in paper wealth is illusory both for individuals and for the world.  But it suits the governments to fool their people.  This gives them the best chance of being reelected and they also engage in theft through inflation.

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So as we have discussed many times, Eric, not only have investors’ assets gone down by 60% to 80% in real terms over the last 13 years, but they are likely to decline another 90% in the next few years vs gold.  The Dow for example, which now has a 10/1 ratio vs gold, is likely to go down to a 1/1 ratio or even below.

Will the level be $10,000 for gold or $100,000 or $100,000,000?  Well, that depends on how much money will be printed and what the level of hyperinflation will be.  But regardless, all assets that have been fueled by the credit bubble will decline in real terms.

Source: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/6/6_Swiss_Refiner_Delays_Hit_5_Weeks_On_Massive_Gold_Demand.html

Swiss Gold Refiners Overwhelmed, Major Delays In Deliveries

Today Egon von Greyerz told King World News that Swiss gold refiners have been overwhelmed with orders for physical gold and buyers are now experiencing major delays in deliveries. Here is what Greyerz, who is founder of Matterhorn Asset Management in Switzerland, had this to say in this remarkable, exclusive interview: “I had stated previously that gold would bottom in the last week of December, and this is what happened. That daily, intraday low that we’ve seen was a screaming buy both fundamentally and technically. I can tell you there were many banks and other parties taking advantage of this low, Eric.”

Egon von Greyerz continues:

“This is important information for your (readers and) listeners: There has been major buying in the physical market as gold came down in the last week of December, and the first week of January. The Swiss refiners are now working at absolute full capacity.

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There is a delay in fulfilling orders….

“This shows you what I’ve been saying, as gold is dipping, the strong buyers are coming in. The Swiss banks are buying, the Middle-East is buying, the Far-East is buying. The buying came in on the dips and it was so massive from the Swiss banks and from the Middle-East, and the Far-East, that the refiners could not supply them without major delays.

And this is confirming what I’ve been saying continuously, that the manipulation of gold is taking place in the artificial paper market. The paper sellers are selling what they don’t have (physical gold), and they can never deliver.

And the buyers are buying paper gold that they can never get hold of. The day the paper buyers realize this, which in my view is not far away, gold will explode. This is why it is so important, Eric, to hold physical gold and to hold it outside of the banking system.”

Eric King: “So Egon there is massive buying coming into the physical gold market as we see these (paper manipulation) dips.”

Greyerz: “Yes, Eric, and it confirms what you and I have been talking about for so long, and the buyers are serious buyers. Buyers from Switzerland the Middle-East, and the Far-East. This is very powerful, and it shows that people should not worry about gold dipping because the real buyers are in the physical market and that is the only market we should look at.”
Article Source: Kingworldnews