HUBRIS KILLS WHILST GOLD PROTECTS

Hubris is a deadly sin. It is an arrogance and conceit of the highest degree that eventually leads to failure. As we reach the final stages of the current economic cycle, hubris is prevalent everywhere. Central bankers and bankers believe that they can continue to create wealth by printing and borrowing money. Since it has worked so well for 100 years in this latest cycle, why can’t it continue? Throughout history, governments have attempted to set aside the natural laws of sound money by manipulating the financial system using criminal methods like counterfeiting and creating money out of thin air. With their hubris, they believe they can get away with their evil deeds. All they would need to do is to look at history. Long term, no one has ever got away with creating a system based on fake money, unlimited debt, zero or negative cost of money with the government and the bankers being the main beneficiaries. They will of course not succeed this time either but the power and massive wealth created by a small elite make the “Powers That Be” so corrupt and so arrogant that they can’t even see the consequences.

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WILL GOLD REACH $2.6 MILLION OR JUST $150,000

Last week, we were again reminded of the global instability and disequilibrium. In the UK, the conservative Prime Minister Theresa May decided 9 weeks ago to call an election. This was done due to the conservatives being 20 percentage points ahead of their Labour rivals in the opinion polls which would have led to a strong backing for the Brexit negotiations as well as another five years in power. But things went disastrously wrong. An extremely badly run campaign by Mrs May and an opportunistically clever campaign led by the Labour leader Corbyn have led to a hung parliament. Like all socialists, Corbyn promised the earth and no one cared about that this would bankrupt the country. The conservatives are now dependent on a small Northern Ireland party as well the Scottish conservatives. The effect of the election is total political chaos that will weaken a UK which is already in a mess with a high debts and untenable budget and trade deficits. But the EU bureaucrats led by Mr Junker are of course delighted. They know now that Mrs May who was for a hard Brexit will have to go at some point and the EU will have the upper hand to reach a soft Brexit or no Brexit at all.

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CASSANDRA, CENTRAL BANKS and GOLD

The general public doesn’t like hearing what some of us who are Cassandras have to say. Because our message is does not fit in with the choir of propaganda and lies. We are predicting a future for the world which is unpleasant for most people and therefore few believe our predictions. It is part of human nature to believe that the current state of affairs will go on forever. And that is the case whether times are good or bad. In bad times, everyone believes that it will never end. I remember vividly the 1970s in the UK when it felt like the severe recession was going to be permanent. It is the same now; conventional wisdom says that the economy will continue to grow at a steady pace and so will assets such as stocks and property. Very few realise that the growth we have seen in the last few decades is totally false and based on credit and printed money.

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GOLD SHORTS – ALWAYS NAKED LIKE THE EMPEROR

The most expensive investment anyone can buy today is paper gold. For $1,260, an investor will get a piece of paper saying he owns 1 ounce of gold. But he is unlikely to ever see that gold. Firstly, most investors who buy paper gold have no understanding of the real reason for holding gold and […]

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If You Understand History And Economics, You Understand Gold

by 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 recognises 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, the FTSE 100 was down 3%. So whilst gold was up 8x during those 11 years, stock markets were static but the journalist did not mention this. Instead, he starts the graph at the very top of gold after an 8 year rally.

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SUPERNOVA, WAR AND $64 TRILLION GOLD

by Egon von Greyerz As we approach the beginning of the greatest wealth destruction in history, it is an absolute certainty that no one will escape the suffering that will be brought upon the world. The ones who will suffer the least financially are of course the poorest since they have very little to lose. […]

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IT WILL ALL GO HORRIBLY WRONG

IT WILL ALL GO HORRIBLY WRONG By Egon von Greyerz To own gold is not climbing a wall of worry. For anyone who understands the problems that the world is now facing, physical gold ownership gives peace of mind and the best insurance that money can buy. So why is less than 0.5% of world […]

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IS 50% OF WESTERN CENTRAL BANK GOLD GONE?

IS 50% OF WESTERN CENTRAL BANK GOLD GONE? By Egon von Greyerz 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 […]

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GOLD REVEALS ILLUSORY GAINS

GOLD REVEALS ILLUSORY GAINS By Egon von Greyerz Investors in most countries make the mistake of measuring their returns based on their home market and their domestic currency. This might have worked when they only had access to their local investment market. But that time is long gone. Now we have a global economy and […]

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