Swiss refiners are working flat out to meet demand
Von Greyerz also said the financial world is headed into trouble that will be much worse than 2008. Here is what Greyerz had to say about Swiss refiners: “The gold market may appear quiet right now, but underneath the quiet there is a great deal of action in the physical market. Swiss refiners are telling me they are working ‘round the clock’ because demand for gold is so massive.”
The paper market will then be either non-existent or we will see a massive premium between physical and paper. I think those days are not far away.
I don’t think people are focusing enough on the long-term consequences. The masses are just living day-to-day and hoping the current problems will go away, but they won’t. The same people who did not see the problem in 2007/2008 are now saying, ‘It’s over.’ Nothing is over.
We are actually going to go into a situation that is much worse than in 2008. Once again, people are in total denial, and that includes governments and central bankers. The first consequence of the enormous deficits and massive credit bubbles is going to be hyperinflation.”
Matterhorn Asset Management is dedicated to wealth preservation through safe and secure silver and gold storage in Switzerland. Protect your gold in the world’s safest vaults. To become a client, click here.