Von Greyerz & Macleod: Insights on the Rotten State of the Banking System
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In this discussion between Egon von Greyerz and Alasdair Macleod, on the state of the current banking system and the importance of gold, the speakers express concerns about the system’s eventual collapse due to the excessive creation of “funny money.” They suggest that gold is the only currency to have survived throughout history and is thus essential for long-term wealth preservation.
Egon and Alasdair also discuss the role of gold in the currency crisis and predict an eventual panic into gold. Moreover, they stress that the value of gold should not be measured in worthless, fiat money and that higher gold prices are necessary to meet future demand. Finally, they caution against wishing for the gold price to go up, as it would decrease the quality of life.
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Egon von Greyerz – Founder and Managing Partner of Matterhorn Asset Management (MAM) and GoldSwitzerland based in Zurich. Egon forecasted the present problems in the world economy already in 2002 when he recommended to investors to allocate 50% of assets into physical gold (at $300) stored outside the banking system. Egon began as a banker in Geneva and was thereafter Finance Director and Vice-Chairman of a FTSE 100 company in the UK. He makes regular media appearances on CNBC, BBC and King World News and speaks at investment conferences around the world. MAM (founded in 1999), specialises in wealth preservation. GoldSwitzerland buys, sells, transfers and stores physical precious metals for private investors and institutions outside the banking system. His website is www.goldswitzerland.com.
