Author: Egon von Greyerz

There are 51 million American households that cannot make ends meet. This means that 43% of American households can’t afford a basic middle class life. Of these, 35 million are dubbed ALICE which stands for Asset Limited, Income Constrained, Employed with a further 16 million households living in poverty. It is absolutely remarkable that in the world’s biggest and “richest” country, just under 50% of the households are struggling to afford a basic middle class life and that 50 million people live in poverty. And this is after decades of prosperity and economic growth. What it proves is that the average person in … Continue reading →

The post Will Poverty, Disease, War Lead to 3 Billion Fewer People? appeared first on LewRockwell.

We are now in the final stages of a journey which by future historians will be seen as unreal as Lewis Carroll’s “Alice in Wonderland”. Just like Alice called the “Mad Tea Party”, “the stupidest tea party she had ever been to”, the last 100 years could be called the Craziest Extravaganza in history. At the end of the story the Queen of Hearts shouts “Off with her head”. But Alice is not afraid and calls them all “A pack of cards” before she wakes up. Although the story was written 150 years ago, had Alice dropped down the rabbit hole to … Continue reading →

The post The Most Ingenious Invention in the History of Finance appeared first on LewRockwell.

It can’t happen here! What is happening in Venezuela and Argentina cannot occur in Western economies. That’s at least what markets believe with stocks and most bubble assets remaining in cloud cuckoo land. Rates in Argentina have just gone to 40% to protect the currency. Anyone who believes that rates in the US will remain at current low levels or that German and Japanese rates will remain negative has a massive shock coming. HYPERINFLATION – A CURRENCY EVENT Argentina used to be a very strong economy 100 years ago but in the last few decades the country has gone through several … Continue reading →

The post Gold Is Good – Greed Is No Good appeared first on LewRockwell.

Strategic investments are made for the long run and with no intent of short term gains or concern of short term fluctuations. This kind of investing is based on buying undervalued and unloved assets and holding them for a very long term. This is what we did with gold in early 2002 for our investors and ourselves. Having come down from $850 in 1980, not only did gold represent incredible value at $300 in 2002, but it was also the best insurance possible against a financial system which was turning increasingly unsound. Sixteen years later we are still sitting on … Continue reading →

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The coming hyperinflation will start slowly and few people will realise what is coming. But once the first real inflation signals are appearing, the process will speed up fast as the currency debasement accelerates. Right now we are most probably seeing the first signs of inflation. The rising CRB index, together with rising oil, silver and interest rates are all telling us that inflation is coming. Initially, we will see a gradual increase but soon inflation will accelerate until we in the next few years reach hyperinflation. HYPERINFLATION IS A CURRENCY EVENT Of course, nobody sees hyperinflation as a credible … Continue reading →

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The super powers in the West are doing what they can to provoke Russia and indirectly China and Iran into a world war. Most people alive today were not adults when WWII started and therefore did not follow the lead up to the war. But today the whole world can watch how the West has chosen to attack a country which has no major significance geopolitically and does not threaten any other country. Still the West clearly knows that bombing of Syria can start a global conflict with potentially horrendous consequences. There is no intelligent reporting of these events in … Continue reading →

The post 8 Reasons We Buy Physical Gold appeared first on LewRockwell.

Between today and 2025, the world will be a very different place. We can learn nothing about the next 4 to 7 years from government, central bank or media propaganda as they neither understand what will happen nor tell the truth. But we can learn a lot from history. Most people rely on the internet for information or news but most of it is either indigestible, misleading, fake or just too overwhelming to comprehend. For many years I have warned people about the coming risks and changes that the world will experience. Very few people are aware of these risks … Continue reading →

The post The Extreme Risk of a Broken World Ahead appeared first on LewRockwell.

Is this it? Is the bull market finished and the good times over? Well, they could very well be. We are looking at a world which is rotten to the core, a world which is built on debt which will never be repaid. And a debt which is artificially supporting $100s of trillions of assets and quadrillions if we include derivatives. The supposedly most powerful economy in the world (the US of course) is now so indebted that it needs to fight the whole world in all kinds of different wars for its survival, with the latest being a trade … Continue reading →

The post Trade Wars, Petro Yuan, Debts appeared first on LewRockwell.

In the US, fake gold is now a growing problem that is not being tackled. Congressman Alex Mooney (not Money!) has just written to the US Mint of the growing problem of high-quality counterfeits. He also wrote a letter to the Mint in November 2017 but the Mint responded that the problem was not significant. But the US Secret Service has since briefed the office of Congressman Mooney about the extent of the problem and the lack of supportive actions of other agencies. There we have it – a complacent Mint on the one hand and a Secret Service which is … Continue reading →

The post The Explosion in Fake Gold and Silver appeared first on LewRockwell.

Gold is hated by governments around the world because it reveals their deceitful actions in totally destroying the economy. It is not an accident that gold is the only money which has survived for 6,000 years. Gold is the only money that tells the truth. And gold is nature’s money which means it cannot be destroyed and it cannot be manufactured. This is why governments cannot live with gold as money for more than short periods. Because over time governments always spend more than the country earns. At that point their survival can only be assured by buying votes. And printing … Continue reading →

The post Socialism appeared first on LewRockwell.

n the old Greek mythology, the opening of Pandora’s box unleashed many evils on the world. Within the next few years, we will see a modern Pandora’s box being opened that will lead to events in the world which will be as devastating as when the ancient box was opened. The very big difference is that this time the consequences will not be part of historical mythology. Instead they will be real and catastrophic for the whole world on a scale never experienced in history. Pandora – the all giving – was the first human woman created by the Greek … Continue reading →

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US economics is extremely predictable. It doesn’t matter who is President and what party he comes from. Because every president will spend more money than the US can afford. On average, US Federal debt has doubled every 8 years since Reagan came to power in 1981. And Trump has just fulfilled the prediction. The budget deal that has been agreed is guaranteed to produce substantial deficits in coming years. The current year’s deficit might be just under $1 trillion but thereafter it is virtually guaranteed that the US will not have a budget deficit under $1 trillion for many, many … Continue reading →

The post The 2007-9 Crisis Will Return in 2018 appeared first on LewRockwell.

Virtually no investor studies history and the few who do always think it is different today. The most important lesson is that people never learn. If they did, they wouldn’t be invested in a stock market that on any criteria is now at a bubble extreme. And they wouldn’t be invested in a global debt market which has grown exponentially in recent decades and which will become worthless in the next few years as debtors default. Nor would anyone hold paper money which is down 97-99% in the last 100 years and which is guaranteed to soon fall the final bit to … Continue reading →

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The world is now between Scylla and Charybdis or between two evils. Thus, there is no solution or positive outcome of the present state of the world economy. Scylla is the rock or the six-headed monster whilst Charybdis is a whirlpool or a black hole (a hard place). BETWEEN SCYLLA (A ROCK) AND CHARYBDIS (A HARD PLACE) Since 2006-9, governments and central banks believe that they have got through the strait of Messina passing through Scylla and Charybdis but sadly they are mistaken. The world is still desperately trying to get through the inescapable passage that would lead to safety. … Continue reading →

The post The Coming Implosion of Global Debt and Asset Bubbles appeared first on LewRockwell.

Welcome to 2018 – a year that will be the culmination of at least 105 years of mismanagement of the Western financial system by governments, central bankers and the elite. 2018 will be a year of major volatility in many markets. Stocks are now in a melt-up phase and before the major bear markets start in virtually all countries around the world, we are likely to see the final exhaustion moves which could be substantial. The year will also be marked by inflation increasing a lot faster than expected. This will include higher interest rates, much higher commodity prices, like … Continue reading →

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