The Phaserl


Horrifying Worldwide Financial Destruction To Shock Investors

from KingWorldNews:

With every passing day my conviction strengthens that gold will be virtually the only protection against a worldwide debacle that we are about to experience. We went into gold in 2002 because it was already clear to us that gold was the ultimate wealth preservation asset. Since then gold has gone from $300 to roughly $1,300 today, but we are not holding gold to make money. We are holding gold in order to protect investors’ assets against the continued destruction of paper money by governments, which is happening worldwide.

So far other asset classes have held up well due to the money printing, but the bubbles in stocks and in certain assets will soon come to an end. Our investors are not concerned about the correction we have seen in the metals in the last 3 years. They are holding gold as insurance and long term protection against the eventual asset destruction that the world will experience.

Egon von Greyerz continues @

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