Today Egon von Greyerz sent King World News exclusively 3 incredibly important charts for battered gold and silver bulls. This is an extraordinary interview and sequence of charts that all KWN readers globally must see. Here is what Greyerz, who is founder of Matterhorn Asset Management in Switzerland, had this to say in this exclusive interview: “Eric, last week we talked about all of the storms on the horizon. Now we see that currency war discussions have broken out again. Abe, the Japanese Prime Minister, is doing everything he can to suppress the value of the yen, and therefore he’s going to have Japan print unlimited amounts of money.”
They all say we can’t have a deliberate policy to destroy a nation’s economy through currency debasement. But that’s exactly what every country is doing. This is just posturing by politicians because the game is to destroy the currencies....
A few years later De Gaulle demanded the US pay all of their debts to France in gold. Of course as we all know that forced Nixon to close the gold window in 1971. That was the start of the monetary experiment and explosion in money printing in the world, and this is only going to accelerate in the next few years.Read More
Egon von Greyerz continues:
“Of course the President of the Bundesbank, Weidmann, has now begun criticizing Japan about starting currency wars. He also said its monetary policy was totally unacceptable. Many others have joined in this criticism. We have the UBS Chairman, who was the former President of the Bundesbank, and Mervyn King from the Bank of England also did the same thing.
“Debt in most countries has been growing exponentially. Last year in Europe almost every single country grew its debt. If they don’t grow the debt the political leaders will be thrown out of office. Rajoy, the Prime Minister of Spain, had a landslide victory a year ago. Now with austerity his approval rating is down to 15%. So we know austerity will not work.
As long as these countries continue to run deficits, it’s guaranteed the currencies will continue to decline in real terms, which is against gold. In 1965, Charles De Gaulle gave a superb speech in which he said most countries accepted that the dollar was as good as gold. He said that will lead to the US going massively into debt.
De Gaulle, stated that “A currency system must be based on an indisputable money base that doesn’t bear the mark of one country.” He said that “There is only one standard that meets those criteria and that must be gold.” That was back in 1965, Eric.