Archive for May, 2009

LAST CHANCE TO BUY GOLD UNDER $ 1,000

“Don’t tell me what to buy, but tell me when to buy”!

Back in 2002 we told investors to buy physical gold for up to 50% of their liquid assets. Since then gold is up between 220% and 280% depending on base currency.

Thus it was very clear to us back then what the effect of the disastrous mismanagement of the world economy would be. But it is even clearer what will happen next. We are now going into the phase of recognition. This is the phase when the world at large is slowly waking up to the fact that printing unlimited amounts of money will make many currencies – and in particular the US dollar – worthless. Read the rest of this entry »

UK JOINS THE PIGS – GOLD IS YOUR ONLY PROTECTION

Written May 21st, 2009 by
Categories: Egon von Greyerz' Newsletters, Latest Articles

We have told investors that the rating of US and UK sovereign debt is a farce and that they both will be downgraded.

Today the UK is on its way to joining the PIGS countries as Standard and Poor’s lower the UK’s AAA outlook from “stable to negative”. The PIGS countries are the hopelessly weak European countries (Portugal, Ireland, Greece and Spain) which have all been downgraded this year. The UK government deficit is estimated to reach £175 billion in 2009 (it will probably be a lot higher). This represents 12.4% of GDP.  Total UK government debt is forecast to reach £800 billion or 57% of GDP. Read the rest of this entry »

GOODBYE DOLLAR – HELLO GOLD

Or, we could say  “Goodbye Paper Money  – Hello Real Money”.

We have for some time warned investors that the era of the dollar as a reserve currency is coming to an end soon and that the strongest and safest currency is gold. All currencies are hopelessly declining in value against gold and this trend will accelerate in the next few months and  years, starting now.

Voltaire’s statement from 1729 that “All paper money eventually returns to its intrinsic value – ZERO” is now ringing as true as ever. We show in the graph below the decline of major currencies against gold since 1900. Read the rest of this entry »