Greyerz: “Eric,
sadly the potential of a major war is now increasing dramatically. I
would almost say that it’s certain we will either have a major military
conflict or a full-blown economic war, which would be just as
devastating. And I wouldn’t be surprised if we have both....
Continue reading the Egon von Greyerz interview below...
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“The
escalation of hostilities in Ukraine can easily lead to a world war as
Paul Craig Roberts has been talking about over the last few weeks.
Isn’t it amazing that six months ago nobody talked about Ukraine as a
potential catalyst for major conflict?
War and
social unrest cycles point to the next few years being full of conflict
that will involve human misery in most parts of the world.
Economically the world is in a mess that can only get a lot worse.
We’ve had currency wars for a long time already, but these will
intensify.
We are
seeing major currencies such as the yen, renminbi, and the ruble
weakening. The U.S. dollar will be the next currency to fall but it
will fall fast, and that move is imminent. The dollar should soon break
solidly below the 80 level on the Dollar Index.
The
U.S. economy has been sustained by money printing and the fact that the
U.S. dollar has managed to retain world reserve currency status. But
you can’t have a reserve currency that has a foundation of tens of
trillions of dollars of debt, especially when the debt is increasing
exponentially.
Sadly,
the weakening dollar is likely to lead to the U.S. getting involved in
even more conflicts, both economically and militarily. This is what
happens to all empires before they collapse. So there will be social
unrest as well as major international conflicts. This will lead to
major political changes in many countries.
The
world will see extreme parties come into power. We will be talking
about all of these events in the future, and gold will be a very clear
barometer of these conflicts. The escalation of the Ukraine conflict
has been the catalyst for gold’s rise in the last couple of days.
The chart below shows what happened to gold over the last few years:
We
start by looking at gold from October 2008 to August 2011, when gold
went from $680 to $1,920. That was a stunning 180 percent move higher
in just under three years. This was on top of major percentage gains in
gold since the beginning of the decade.
A lot
of people don’t think that gold can move fast in a few months, but just
look at what happened in 2011. Gold was at $1,308 in January 2011. By
the end of August that year gold was $1,920. That’s a move of 47
percent in just eight months. So gold moved up more than $600 in just
eight months.
That’s
the kind of move we could see in 2014. I could easily see gold moving
to over $2,000 and possibly as high as $2,500 as I’ve shown on the chart
above. I believe the gold market is about to start the next major
move. This will be a fast move, in my opinion.
But
this move in gold to $2,500 will just be the beginning because the
conflicts we are seeing will lead to a skyrocketing gold price. I
believe we will see the beginning of a hyperinflationary depression
accompanying gold’s next rise.
Gold
could easily rise to $10,000 in that environment, but we could see a lot
more zeros after the gold price if the hyperinflation gets out of
control. The bottom line is I think the waiting time is over and the
next move higher is imminent and that move will continue for quite a few
years before we see any significant top.”
© 2014 by King World News®.
All Rights Reserved. This material may not be published, broadcast,
rewritten, or redistributed. However, linking directly to the blog page
is permitted and encouraged.
The audio interviews with
Felix Zulauf, Michael Pento, James Turk, Victor Sperandeo, Dr. Philipa
Malmgren, Grant Williams, Dr. Paul Craig Roberts, Bill Fleckenstein, Dr.
Marc Faber, Egon von Greyerz, Ben Davies and Art Cashin are available now. Other recent KWN interviews include Eric Sprott and Jim Grant -- to listen CLICK HERE.
Eric King
Military Wars, Economic Wars, Currency Wars & $10,000 Gold
Today
a 42-year market veteran warned King World News that the world now
faces military wars, economic wars and currency wars. He also believes
this could easily lead to $10,000 gold and included an important chart.
Below is what Egon von Greyerz, who is founder of Matterhorn Asset
Management out of Switzerland, had to say.
© 2014 by King World News®. All Rights Reserved. This material may not be published, broadcast,
rewritten, or redistributed. However, linking directly to the blog page is permitted and encouraged.
April 27, 2014
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