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Egon von Greyerz – interview King World News

December 16th, 2011 by Egon von Greyerz

Eric King of King World News interviewed me yesterday about QE, Hyperinflation and Gold.
Click here for the KWN interview page with Egon von Greyerz – then click the ‘Listen to MP3′ link

In summary, this is what I said (with some additions):

  • The current correction in gold is technical. There is very little physical selling and refiners have their order books full well into the second half of 2012.
  • Technically this correction could last to the end of the year but it could end already at the end of next week. Support is at $1,530-50 and $1,410-20. Thus we could go that far down but this would be a golden opportunity to add to positions.
  • The market is smelling deflation. With no QE we would have a deflationary collapse. No bank would survive a deflationary collapse. Nor would any government. There would be total chaos and no functioning financial system.
  • Governments are petrified of deflation. They know the consequences which are unacceptable to them.
  • Therefore, whatever governments say,  there will be unlimited money printing led by the Fed, IMF and ECB  plus other central banks.
  • QE will not solve the problem, only kick the can down the road. There is no solution as I wrote in my latest piece “Deus ex Machina”.
  • Worldwide QE will lead to currencies collapsing, a hyperinflationary depression and surging precious metals.Physical gold and silver (stored outside the banking system) is the ultimate method for preserving wealth.
16th December

Gold Switzerland - Matterhorn Asset Management

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