Author: Egon von Greyerz

How can ordinary people ever understand the importance of gold when they are continuously fed with false and distorted facts. The latest publication to publish false and ignorant propaganda on gold is the British weekly magazine the Economist. The article begins with a graph of gold starting in September 2011. Anyone who knows anything about gold recognizes that this is the time when gold reached a peak of $1,930. Between 1999 and 2011 gold had gone from $250 to $1,930 which is an increase of almost 700%. During the same period, the Dow was virtually unchanged and the UK index, … Continue reading →

The post You Understand Gold appeared first on LewRockwell.

There are lies, damned lies and news, to paraphrase British Prime Minister Disraeli who said: “There are lies, damned lies and statistics. Today we are fed with lies ubiquitously in the form of news and most people who just follow conventional media are totally unaware of the truth. Because the truth is not spoken by many today: Politicians lie to mislead and indoctrinate the people. Governments put out false economic information to serve their purpose, like unemployment or inflation data Central bankers lie, because if they told the truth, the global financial bubble would burst instantaneously. Bankers lie about the … Continue reading →

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We have recently had some significant news about the sovereign gold market that makes the unclarity even more unclear. Central banks and the BIS in Basel go to great length to tell the world absolutely nothing about their gold dealings. All transactions are carried out covertly and no central bank ever has an official audit of their gold holdings. The last US audit was during Eisenhower’s days in the 1950’s. Ron Paul has been pushing for an audit but to no avail. Will Trump instigate an audit? Well, he might have the intention but when he finds out that a … Continue reading →

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“The Die is Cast” for Europe and the EU. This is what Caesar said when he crossed the Rubicon in 49 BC marching towards Rome, leading to a major change in Europe’s history. The Italian referendum which took place on December 4 had a similar significance. The Brexit vote in which Britain decided to divorce from the EU started the breakup of the artificial construction of 500 million people being ruled by an unelected and unaccountable elite in Brussels. Even worse is an artificial paper currency, the Euro, which is used by 19 out of the 28 EU countries. All … Continue reading →

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Few people realize the coming bargains in all asset markets within the next five years or so. Stocks, bonds, and property will be fractions of current prices. I discussed in last week’s article how I expect stocks and property to decline maybe as much as 90%. Most people will consider this as sensational speculation and impossible but similar falls have happened in history before. And at no previous time in history has there been a credit bubble of a magnitude that the world is facing today. Previously individual countries have experienced depressions, often preceded by hyperinflation. But never before has … Continue reading →

The post Buy A House For 2.6 Ounces Of Gold appeared first on LewRockwell.

Very few people realize the enormous wealth transfer that will take place in the next 5 years. Most will lose 75-90% of their wealth and some 100%. What is interesting is that investors needn’t lose most of their money if they took a few measures to protect their fortune. I often speak to Family Offices who built fortunes from the $100s of million to many billions. Without exception, they believe that it is their skill in building a business or investing that has created these fortunes. It clearly requires a lot of skill and a bit of luck to build … Continue reading →

The post Wealth Destruction appeared first on LewRockwell.

There are a lot of people who are concerned about the performance of gold and the fact that the price after four years of correction is still so far from the high. The mistake that most people make is to measure gold in US dollars. We are seeing currently very temporary dollar strength. But the US$ is a weak currency in a mismanaged economy. Just look at the dollar in Swiss Francs. Since 1970 the dollar has lost 77% against the Swissy. That can hardly be called dollar strength. The dollar is a very weak currency If we measure the … Continue reading →

The post A Strong Dollar? appeared first on LewRockwell.

The selling of gold we saw last week was another desperate attack by the BIS and some central banks, together with the bullion banks, to manipulate the gold market lower. We saw over 40% of annual production of gold being sold last week which is 1,000 tons. The physical market continues to be strong which I will discuss further on. Western Central Banks hold less than 50% of official quantities Obviously, the sellers had no physical gold to sell so they conveniently dumped all this gold in the paper market. It would have been totally impossible for them to do … Continue reading →

The post The Gold Manipulators appeared first on LewRockwell.

Two millennia ago, according to the bible, three wise men came to offer Jesus the gifts of gold, frankincense, and myrrh. The peak of the Roman Empire is considered to be at the time Jesus was born although it took until 476 AD until the Western Empire finally fell. Today, just over 2000 years later, we might be standing at another historical peak in the global economy. There are certainly many similarities like deficits, debts, and decadence. Just like the Roman Emperors, current leaders have illusions of grandeur of a magnitude that the world has never seen before. So let’s … Continue reading →

The post It’s a Gift appeared first on LewRockwell.

The world economy is now at its most dangerous point in history. In virtually every major country or region, there are problems of a magnitude which individually could trigger a collapse of the financial system. Because of the interconnectivity of the system, when the first domino starts falling, there is zero possibility to stop all the other unstable dominoes from crashing one after the other in quick succession. The world is now staring down a deflationary black hole that is on the verge of sucking into it all global debt of $250 trillion plus unfunded liabilities and derivatives of another … Continue reading →

The post On the Edge of a Black Hole appeared first on LewRockwell.

The autumn of 2016 has for some time looked like a period when dark clouds will move in over the world economy. Therefore, it was not surprising to see the first sign of things to come in the next few months. In one day the Dow erased all the gains since early July with an almost 400 point fall. Since the beginning of the year the Dow is now up a pitiful 4%. Almost 8 years of ZERO interest rates have not managed to revive the US economy, nor the world economy. On a longer timeframe the Dow, together with … Continue reading →

The post Protection from Looting Government appeared first on LewRockwell.

Since Reagan came to power in 1981, the US has had a total of five presidents who have spent ever increasing amounts of money to hang on to power and buy votes. This has resulted in the most extraordinary money printing venture in history. It is not just central banks that print money. Governments that borrow vast amounts of money are also performing a printing function since money is created out of thin air. And even worse than that, the US government neither has the intention nor the ability to ever repay the debt with real money. Thus the US … Continue reading →

The post 6 Presidents Causing US Bankruptcy appeared first on LewRockwell.

The more things change, the more they stay the same. The financial world loves focusing on some future event that they think will change everything. There is always some economic data, an important meeting like G20, the Fed, the ECB or a speech by Yellen or some other central bank head who hasn’t got a clue what is happening or what will happen. So now at the end of August, markets have all been focusing on Yellen’s speech at Jackson Hole Wyoming. Jackson Hole is, of course, a very befitting name since what the Fed is starring into is a … Continue reading →

The post The Ultimate Ponzi Scheme appeared first on LewRockwell.

The fate of the global economy was decided decades ago as deficits, debts and derivatives started their exponential growth and reached the time bomb phase that we are now in. This final chapter of this 100-year era will end in “a final and total catastrophe of the currency system” as von Mises succinctly articulated. It started on Jekyll Island It all started in 1910 when a few senators and bankers, led by JP Morgan, secretly met on Jekyll Island with the purpose to set up the Federal Reserve and so control the banking system. Thus, the Fed was a creation … Continue reading →

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Welcome to the wonderful world of illusions. This is the world where few people can see the difference between reality and fantasy. And maybe there is no difference. Just looking at the US election and the candidates, it seems like a total fantasy from this side of the Atlantic. It is difficult to take the whole election process as well as the candidates seriously. But this is the world we live in today. Having in the last week seen people in many European countries run around the countryside and cities chasing Pokémon Monsters, you wonder if the presidential candidates might … Continue reading →

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