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Egon von Greyerz: Catastrophic Economic Collapse & The Next Great Depression Looming

Egon von Greyerz: Catastrophic Economic Collapse & The Next Great Depression Looming

Good as Gold Australia:  7-27-2024

In this most recent interview, Darryl and Brian Panes from As Good As Gold Australia talk with the legendary, Egon von Greyerz, Founder and General Manager of Gold Switzerland and Von Greyerz AG.

The world is currently very precariously placed with global debt ($350 trillion) at unprecedented levels, unmanageable inflation and sitting on the edge of WWII.

346 corporate business bankruptcies were recorded in the first half of 2024 in the US (the most during any year's first half since 2010). Could we be heading into the 2nd Great Depression?

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 During the first half of 2024, gold has recorded a 19% gain and the World Gold Council survey confirms that Central Bank Reserve managers plan to increase their gold holdings further, building on their status of being the primary price setters of gold bullion since the 3rd quarter of 2022.

Central Banks are now confirming that they are viewing gold as a strategic asset.

 In 2019, only 15% of Central Banks considered their gold reserves a strategic asset. By the 2024 survey, this number had risen to 71%. Both advanced and EMDE economies face growing concerns about managing their reserve assets, including geo-political uncertainty, financial stability, default risk, long-term store of value, portfolio diversification performance during times of crisis and liquidity.

If Central Banks feel so strongly about gold, why wouldn't we? As the late Jim Sinclair would confirm, 'you need to become your own central bank.' If the BIS (Bank of International Settlements) is suggesting that Central Banks should own more gold, which they claim is a strategic Tier 1 asset, should we question their motive, especially when you read their charter and statutes?

This is a must-view, absorbing interview.

https://www.youtube.com/watch?v=MHWUOU75BJo

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