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Egon von Greyerz continues:  


“They will see that cash will not hold its value because of all of the money printing.  Interest will surge, and they will go into physical gold.  That will put enormous upward pressure on the gold price.


So bubble after bubble will burst....


Continue reading the Egon von Greyerz interview below...




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“In the meantime, governments are getting bigger and bigger, socializing countries and totally killing private initiatives and entrepreneurship.


Turning to gold, Eric, Goldman is now bearish on gold.  Many times with Goldman when they actually publish their views that means they are looking to go long if they are not long already.  So they are telling everybody else to sell gold so they can buy it cheaply.


In the meantime, Morgan Stanley is bullish and UBS is bullish.  I actually talked to one of the top guys at UBS and he said he expects the shorts to cover in the very near future.


Looking at China’s production and imports of gold, that is just unbelievable in the last decade.  I’ve included a chart which shows a graph.  In 1980, they had 50 tons of imports and production, which was mainly production and no imports (see chart below).




By 2000 they had 175 tons (of domestic gold production).  In 2012, Eric, they imported and produced 900 tons.  Of that 900 tons, 500 tons was actually imported.  It is just amazing what is happening in China.


So China is buying and many other governments are buying and nobody is selling gold.  Also, worldwide vault capacity is being built very rapidly.  So worldwide there is massive buying going on.  So where is all of that gold coming from?


The gold is coming from (Western) central banks.  Eric Sprott has talked about this in the last couple of months.  So we’re seeing a shift from central banks, that clearly will not have the gold they say they have, into private ownership.”


© 2012 by King World News®. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.  However, linking directly to the blog page is permitted and encouraged.


This was a tremendous interview with Greyerz.  In this segment Greyerz discusses why the gold bull market is intact and what investors should expect directly in front of us.  The interview with Egon von Greyerz will be available now and you can listen to it by CLICKING HERE. 



The interviews with John Hathaway, Ben Davies, Dr. Stephen Leeb, Eric Sprott, Gerald Celente, James Turk and Egon von Greyerz are available now.  Also, be sure to listen to the other recent KWN interviews which included Michael Pento, Wilbur Ross, and Don Coxe (BMO $538 billion)  by CLICKING HERE.


Eric King

KingWorldNews.com

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