Gold is not in a bubble, all gold is doing is reflecting the destruction of paper money. Only one percent of world financial assets are in gold today, so nobody owns gold actually, and gold has still gone up over the last 12 years
Zurich, Switzerland (PRWEB) January 28, 2013
In this interview recorded in Zurich, Fabrice Drouin Ristori and Egon von Greyerz talk about why it's important to own gold outside the banking system and why gold is not in a bubble.
The followings are excerpts from the interview:
"There is no solution to this problem. The problem is too big, as I said, governments are bankrupt, debts are increasing now at an exponential rate, and there is no chance whatsoever to reduce the debts. Any government even trying austerity programs is thrown out immediately, but even if they did try austerity measures, it is too late now. So the next stage that I see, and I think that will start very soon, it could already be in 2013, is that the money printing will accelerate, deficits will accelerate, and therefore money printing will accelerate, and we will be on the way to a hyperinflationary depression."
"Only one percent of world financial assets are in gold today, so nobody owns gold actually, and the gold price has still gone up over the last 12 years, it has gone up five, six times, depending on the currency. And as I said, still only one percent of investors actually hold gold. So, that will change in the next few years, and which will mean the demand for gold will increase, there isn’t enough supply, so the additional supply can only be met by higher prices. And this is what is going to happen." said Egon Von Greyerz.
To read the full interview go to https://www.goldbroker.com/news/why-gold-is-not-in-bubble-interview-egon-von-greyerz-fabrice-drouin-ristori-177.html.