Originally posted May 5, 2020
In this interview, Egon von Greyerz explains to Paul Eberhart of SilverDoctors that the combination of the Coronavirus and the coming economic depression will change the world forever. The next couple of years will not be a pretty picture and many people will suffer.
It has been too easy with governments and central banks to print money that has given an illusory high standard of living. But the world will now discover that printed money has no value and that you can’t solve a debt problem with more debt.
Although times will be hard, there are always opportunities for people who are willing to work hard. As long as you don’t depend on worthless printed money and bankrupt governments.
Egon’s message has been consistent for 20 years. The risks in the world are unprecedented due to the massive debt and asset bubbles and wealth preservation in the form of physical gold and silver is essential. Gold and silver are dramatically undervalued and very soon it will be impossible to buy precious metals at these prices.
We are now going towards a hyperinflationary depression that will eventually lead to a deflationary depression.
- Every single hyperinflationary event in history came as a result of the debasement of the currency
- The disconnect between paper market vs physical market in oil and gold
- Why you shouldn’t buy gold ETFs
- How does real estate compare to gold and silver?
Las Vegas, NV·Updated May 5, 2020