http://kingworldnews.com/kingworldne...ime_Highs.html
This Man is not a Gold Bug. He Is an expert and his track record proves that unlike Ben Bernake and the Federal Reserve.
Snippet:
With gold attacking the critical $1,680 level and silver remaining strong above $32, today King World News interviewed the man who told clients in 2002, when gold was $300, to put up to 50% of their assets into physical gold. Egon von Greyerz is founder and managing partner at Matterhorn Asset Management out of Switzerland. When asked about the recent action in gold, von Greyerz said, “Sometimes we get lucky with our calls. I called the bottom of gold when we talked around the end of December. When we spoke last week I said it looks to me like silver is going to break out here and this is exactly what is happening. This is very good action and it’s as we expected.”
2012 by King World News
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Egon von Greyerz continues:
Snippet:
Without this lending the banks will not survive, especially the French and the Spanish banks. Just last week they had about 15 billion from the ECB. So, the ECB lends them money and this is a different form of QE.
By lending the banks money, what do the banks do with the money? Well, they borrow the money for nothing or at 1% and give the ECB toxic debt, in return, as security. Then they buy government bonds for the money they get. So the ECB gets the money back again. It’s just incredible, it’s a form of a Ponzi Scheme, combined with money printing.
The banks are improving their balance sheets and the ECB just keeps printing money. This is what gold is reacting to. We also know the Fed is doing a similar thing with their currency swaps. So QE is there and will accelerate. Without that the banking system, as I’ve said, will not survive.”
This Man is not a Gold Bug. He Is an expert and his track record proves that unlike Ben Bernake and the Federal Reserve.
Snippet:
With gold attacking the critical $1,680 level and silver remaining strong above $32, today King World News interviewed the man who told clients in 2002, when gold was $300, to put up to 50% of their assets into physical gold. Egon von Greyerz is founder and managing partner at Matterhorn Asset Management out of Switzerland. When asked about the recent action in gold, von Greyerz said, “Sometimes we get lucky with our calls. I called the bottom of gold when we talked around the end of December. When we spoke last week I said it looks to me like silver is going to break out here and this is exactly what is happening. This is very good action and it’s as we expected.”
![](https://resources.faireconomy.media/images/emojis/64/00a9-fe0f.png?v=15.1)
![](https://resources.faireconomy.media/images/emojis/64/00ae-fe0f.png?v=15.1)
rewritten, or redistributed. However, linking directly to the blog page is permitted and encouraged.
Egon von Greyerz continues:
Snippet:
Without this lending the banks will not survive, especially the French and the Spanish banks. Just last week they had about 15 billion from the ECB. So, the ECB lends them money and this is a different form of QE.
By lending the banks money, what do the banks do with the money? Well, they borrow the money for nothing or at 1% and give the ECB toxic debt, in return, as security. Then they buy government bonds for the money they get. So the ECB gets the money back again. It’s just incredible, it’s a form of a Ponzi Scheme, combined with money printing.
The banks are improving their balance sheets and the ECB just keeps printing money. This is what gold is reacting to. We also know the Fed is doing a similar thing with their currency swaps. So QE is there and will accelerate. Without that the banking system, as I’ve said, will not survive.”