Egon von Greyerz continues:  

“At the same time, we are reading that a number of central banks are buying gold.  So the nonsense coming from the mainstream media that people are not interested in gold is completely false.  We are seeing massive accumulation of physical gold.  This decline today is clearly only in the paper market.

Once people wake up to the fact that the paper market is not even a real market, meaning it’s a false market that can never deliver the real goods, once investors realize this, that is when people will really panic....

Continue reading the Egon von Greyerz interview below...


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“The paper market will then be either non-existent or we will see a massive premium between physical and paper.  I think those days are not far away.

I don’t think people are focusing enough on the long-term consequences.  The masses are just living day-to-day and hoping the current problems will go away, but they won’t.  The same people who did not see the problem in 2007/2008 are now saying, ‘It’s over.’  Nothing is over.  

We are actually going to go into a situation that is much worse than in 2008.  Once again, people are in total denial, and that includes governments and central bankers.  The first consequence of the enormous deficits and massive credit bubbles is going to be hyperinflation.


The hyperinflation will come as a result of governments printing unlimited amounts of money.  During this hyperinflationary depression, people will see currencies falling in value against real money, gold.  In a hyperfinflation, nobody benefits from the money creation except the ones standing nearest to the printing press.

So governments will help themselves and banks will get some benefit, but by the time the money gets to the people it will be worthless.  Pensions will be wiped out as well.  When Germany went through the Weimar hyperinflation, at that time people were more self-sufficient.  Today, many people are dependent on governments.

This is why we will have more social unrest and anarchy.  I don’t think governments will be able to control it because people will be poor, hungry, and homeless in many cases.  The consequences of all of this reckless behavior is going to be very serious for all of us.

This is the first time in history that we will see hyperinflation occurring simultaneously in many countries.  Previously, this type of event has been isolated to one country at any one time.  Gold will be an extremely important means of survival and payment during this hyperinflationary period.”

© 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.

The Jean-Marie Eveillard and Dr. Keith Barron audio interviews are available now.  And be sure to listen to this week’s incredible line-up of other KWN interviews, which include Eric Sprott, Egon von Greyerz, Rich Yamarone, John Embry, Jim Sinclair and John Hathaway.  You can listen to these interviews by CLICKING HERE.

Eric King

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© 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.

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