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Egon von Greyerz continues:
“The risks are enormous, Eric. The risk that many banks will fail is major. The authorities and central banks, around the world, are going to try to rescue them, but it’s not certain they can or will. That’s why, again, it’s important to hold assets outside the banking system, whether it’s gold or silver or assets in the ground.
That’s the way to protect yourself because if the system survives in the next couple of years, it will only be because there is massive money printing....
Continue reading the Egon von Greyerz interview below...
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“Without that they cannot survive. But because of the massive risks to the financial system, I think it’s absolutely critical that investors hold a major part of their funds outside of the banking system.
We are in this for the long-term. We got into it (gold) in 2002 at $300. We’re telling clients today, at $1,720, that right now gold is cheap. We’re holding gold to protect our purchasing power and gold is just beginning a very major move. That move will take time. In the next two years I could see $5,000 (gold). We could see it before the next 24 months.
That is just an intermediate top. We will have a bigger correction after that. But I’ve said for some time that gold could reach $10,000, and that’s in today’s money. And I’m absolutely convinced that we won’t have today’s money in the future.
If gold goes up to let’s say $5,000, the (gold/silver) ratio will come back down to at least where it was in 2011, which is 30. I would say that’s a minimum. Then your talking about silver at $166.”
This is an extremely important interview because Von Greyerz gives King World News listeners his vision of how things will unfold over the coming 24 months. The KWN interview with Egon von Greyerz is available now and you can listen to it by CLICKING HERE.
To read the previous KWN interview with von Greyerz CLICK HERE.
© 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 This material may not be published, broadcast, rewritten, or redistributed.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.
Eric King
Greyerz - Gold Price to Hit $5,000 in 24 Months & Silver $166
Today Egon von Greyerz told King World News that central planners may very well fail at their attempts to save some troubled banks. Von Greyerz also surprised KWN by predicting gold will climb to $5,000 and that silver will hit $166 in the next 24 months. Egon von Greyerz is founder and managing partner at Matterhorn Asset Management out of Switzerland. Here is what von Greyerz had to say about central bank activity and how it will impact gold and silver prices: “If you look at every central bank in the world they are in an absolute mess and they need to print unlimited amounts of money. So we will have a lot of zeros after the price of gold in many currencies. But even in today’s money I see gold going up many times from here.”
© 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.
February 6, 2012
