Governments can never repay their debts
Because of the fragility of the financial system a black swan can come from anywhere. The government bond market is a massive bubble that will implode in the next few years.
In this audio interview I discuss what some of these changes are such as the fall of the dollar, stock markets and bond markets. I also discuss the various factors that will lead to a major rise in gold in 2014.
Egon von Greyerz