Back in November of last year,
the founder and managing partner of Matterhorn Asset Management, Egon Von Greyerz, correctly predicted two months before it happened that the Swiss Franc would de-peg from the Euro, and begin the chapter for the continent of Europe to slowly end their centralized currency experiment.
Yet this is not the first correct forecast for one of the most respected commodity traders and managers in the world. Back in 2002, when the price of gold was still hovering around $300 per ounce and the great Housing bubble was about to take off, Von Greyerz told his clients to take 50% of their assets and get into gold immediately, which was the most profitable trade in the first decade of this century, culminating in a return of over 6466% when the metal reached its peak of over $1900.
But as the price of gold has been stuck in the $1150 - $1250 range due to massive shorting and derivative leveraging by the bullion banks who use the metals futures market to protect the dollar currency, Egon Von Greyerz is once again forecasting the next economic event, only this one will be global, and leave even the reserve currency (dollar) with the high probability of collapse.
And his suggestion for both investors and regular people alike is to make sure and do two things...
Offshore your wealth, and get out of every currency and into gold.
Egon Von Greyerz: "I think China is a good example of that." "I think that, that is the beginning of the downturn of stock markets... of course they will try to get it up temporarily, but it won't last, and whether it starts now or where I think it is more likely to start in the Autumn, it will precede the beginning of the fall of the Western stock markets, and that is a fall that is actually going to be absolutely disastrous for the world because it will destroy wealth very, very quickly. And it will start a long term downturn in markets and the economy worldwide."
Eric King: "Egon let me ask you one final question... and that is the frustration that people feel in regards to gold and silver. It hasn't rallied obviously in the midst of this global chaos, but Egon there's a great deal of manipulation that's been going on by the central planners, and some of that has been presented in the form of the massive derivatives that are inside of that market, and taking over."
"This iron fist that's controlling the gold and silver markets... how will that end?"
EVG: "Like with all manipulations it will end very badly." "I know it's hard for the listeners and I know it's hard for gold investors to accept that it can (eventually) end because we've seen now this correction going on since 2011, and it seems like a lifetime for a lot of people."
"We've seen the massive increase in derivatives, especially in the U.S. banks, and at some point when the market understands that there is no physical gold to fulfill the these (naked shot) contracts, and when the market understands that central banks don't have the gold they say they have, this market will erupt."
"Eric it is so important for people to own gold in whatever way they choose, but they must hold it outside the banking system, and must have direct control over their gold, with no counter-party risk"
This last portion that Egon stated... "it is so important for people to own gold in whatever way they choose, but they must hold it outside the banking system, and must have direct control over their gold, with no counter-party risk"... is why the only real solution to protect your wealth, to get into gold, and have complete control over it from any risk by foreign entities, governments, or central banks is with...
Buying gold through Karatbars is one of the easiest things on the net. In fact, the business model of Karatbars is to sell gold in affordable quantities, such as 1, 2.5, and 5 gram increments, and allow customers to get into the metal without having to shell out $1200+ for a single ounce coin.
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How to make money in both the Dual and Uni-level systems of Karatbars
How to make a six figure income using Karatbars in just 7 weeks.
The global financial system, along with dozens of respected economists, are telling us that now is the time for the end of our current form of money, and the beginning of the transition into a new monetary system that is expected to be backed by gold. And with banks, governments, and even Harvard professors mandating that central banks have no choice but to eliminate cash from usage by the people to stave off collapse, will you wait until it is too late to make a decision on how you will protect your wealth, and be able to function within the coming new monetary system?
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