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.