Matternhorn Asset Management/Egon von Greyerz/08-04-17
Over the last 150 years, the West has gone from human slavery to debt slavery.
…Debt slavery is now a chronic condition which the world finds itself in. The word debt has the same roots as death and clearly has very dark connotations. Slavery means being owned and controlled by someone. What the bankers started on Jekyll Island has now enslaved the world in a debt/death grip from which there is no escape. Global debt of $230 trillion plus unfunded liabilities and derivatives takes us to over $2 quadrillion debt and liabilities is just too big a weight to get rid of.
…Physical Gold will in the next few years be one of the few ways to preserve wealth as the world experiences a total wealth destruction. There is still time to take money out of the bank and to own gold in a safe jurisdiction like Switzerland and Singapore. But that opportunity will not be open for long. Also, gold is unlikely to be as cheap as today for very much longer. We could see new highs in 2017. However, the price level short term is irrelevant. What is important is that physical gold is superb insurance against a very risky world.
