In this interview Kerry Stevenson from Symposium discusses with Egon von Greyerz the deteriorating health of the global world economy. The root cause originates from deceitful governments, derivatives, money printing and too much debt.
Egon doubts Cryptos will be a saviour of the upcoming global melt down. Egon purports: Governments are likely to ban Cryptos, by shutting down the exchanges, also there is an increasing risk of Cryptos being hacked.
- Gold price target: Today gold is incredibly cheap. Will go to levels nobody can imagine
- Gold is currently as low as in 1970 or 2000, greatly unloved and undervalued
- World economy will drown in a mass of problems, life insurance will be absolutely key in coming years
- Nobody saves anymore. Governments are destroying the value of money
- End game will be the most massive implosion of debts and bond markets. All financial assets financed by debts will also implode
- Risks today are exponentially higher than in 2008, we are now in the accelerating downtrend for currencies
- Global banking system under tremendous pressure. German banks are all bankrupt. Massive money printing will be required to rescue them
- Governments hate gold, as gold expresses their incompetence and reveals their deceits
- Hacking Cryptos: Google’s supercomputers are soon able to decrypt Cryptos, which was deemed impossible a while ago
- Cryptos, will never replace gold. Cryptos are not wealth preservation