Egon von Greyerz told King World News that we are now seeing stunning shortages of physical gold, and this is in the face of Swiss refiners increasing production. Greyerz stated that Swiss refiners are working 24 hours a day, 7 days a week, but simply can’t keep up with the massive surge in global demand. Below is what Greyerz, who is founder of Matterhorn Asset Management out of Switzerland, had to say in this tremendous interview.
Greyerz: “Eric, all around us the world economy is now declining at an alarming rate. The situation in southern Europe is disastrous, and that’s spreading to all of Europe as well as the rest of the world.
The world economy is starting to disintegrate. What we are entering now is the culmination of a Ponzi scheme of printed money and credit that started with the creation of the Fed in 1913....
“So for 100 years the world has lived in a dream that printed money creates prosperity.
What we are going to see in the next few years is a hyperinflationary depression of unimaginable proportions. All of us will of course be affected, and many very badly.
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