Egon von Greyerz - Most Massive Wealth Destruction Ever Coming
Financial and precious metals expert Egon von Greyerz says, "Because of the artificial control of the system, the cycles becomes ten times or a hundred times bigger than they would have been by natural forces. We have had a hundred years of excesses in the world and artificial wealth creation. Now, in the coming years, we will have a very long period of the opposite. Wealth will disappear.
A lot of people will suffer, and, sadly, there will be famine. There will be misery. The world has gone through this before, but this will be bigger than it ever has been. The world will survive this, but there will be a lot of suffering when this implodes ... The fear hasn’t started yet, but it will, and then there will be a rush into gold and silver. Our clients are increasing their positions ...
In my view, 25% of total net worth is the minimum (to invest in gold and silver), and, personally, I would not have any major assets in the bank because I don’t think the banking system will survive. If it survives, it will not be in its present form. Stocks, in relation to gold, will go down 90% to 95%. They went down 90% in 1929 to 1932 ... There will be the most massive wealth destruction ever."
A lot of people will suffer, and, sadly, there will be famine. There will be misery. The world has gone through this before, but this will be bigger than it ever has been. The world will survive this, but there will be a lot of suffering when this implodes ... The fear hasn’t started yet, but it will, and then there will be a rush into gold and silver. Our clients are increasing their positions ...
In my view, 25% of total net worth is the minimum (to invest in gold and silver), and, personally, I would not have any major assets in the bank because I don’t think the banking system will survive. If it survives, it will not be in its present form. Stocks, in relation to gold, will go down 90% to 95%. They went down 90% in 1929 to 1932 ... There will be the most massive wealth destruction ever."
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