Chart usGOLD   Chart usSILVER  
 
Food for thought
The government solution to a problem is usually as bad as the problem.
Milton Friedman  
Search for :
LATEST NEWS  :
MINING STOCKS  :
Subscribe
Write Us
Add to Google
Search on Ebay :
PRECIOUS METALS (US $)
Gold 1230.46-1.00
Silver 17.190.01
Platinum 1243.10-5.90
Palladium 776.400.60
WORLD MARKETS
DOWJONES 16805128
NASDAQ 448431
NIKKEI 15292153
ASX 539929
CAC 40 4129-29
DAX 8988-60
HUI 184-1
XAU 760
CURRENCIES (€)
AUS $ 1.4399
CAN $ 1.4238
US $ 1.2670
GBP (£) 0.7875
Sw Fr 1.2060
YEN 137.0000
CURRENCIES ($)
AUS $ 1.1365
CAN $ 1.1237
Euro 0.7893
GBP (£) 0.6216
Sw Fr 0.9518
YEN 108.1290
RATIOS & INDEXES
Gold / Silver71.58
Gold / Oil15.16
Dowjones / Gold13.66
COMMODITIES
Copper 3.060.01
WTI Oil 81.14-0.61
Nat. Gas 3.60-0.02
Market Indices
Metal Prices
RSS
Precious Metals
Graph Generator
Statistics by Country
Statistics by Metals
Advertise on 24hGold
Projects on Google Earth
In the same category
The Most Productive Man in History
Published : May 25th, 2013
377 words - Reading time : 0 - 1 minutes
( 3 votes, 4.3/5 ) Print article
 
    Comments    
Tweet

As precious metals investors worldwide are concerned about the correction in gold and silver let me tell you that you must not be.

The incredible concoction of debt, derivatives (that will never be repaid with normal money) and accelerating fiscal deficits in most countries will guarantee money printing in unlimited quantities.

And Bernanke (and his successor) and fellow central bank heads will not disappoint. The only important criterion in the job description of a central bank chief is that he/she is willing and able to print whatever is necessary and in the next few years that will most likely involve printing 100s of trillions of Dollars, Euros and Yen.

YOU AIN’T SEEN NOTHING YET!

24hGold - The Most Productive ...

So it is guaranteed that Bernanke’s Federal Reserve and other central banks will continue their superb productivity. Bernanke has of course been the most productive man in history. In his 7 years as Chairman of the Fed he has printed more money than during the whole history of the USA. US Federal Debt has between 2006 and 2013 gone from $8.4 trillion to $16.8 trillion. Bearing in mind that it took 230 years for the US debt to reach $8.4 trillion in early 2006, this is quite a feat achieved by Bernanke.

THE 7 BERNANKE YEARS

USDEBTtoGDP-2006-2013

But this is of course just the beginning. Bernanke (and successor) will not only have to print for the US. They will have to print and give money to the IMF, to the ECB, to the BoE, the BoJ and to cover $1.1 quadrillion of derivatives which will be worthless. It is unlikely that the world’s central bank computers will have enough zeros to cope with this infinite money printing.

And what will be the best way of measuring the monetary effect of this money printing? That will of course be physical gold which has been money for 5,000 years whilst no fiat currency has ever survived. Thus as money printing and debt go exponential so will gold. But hold it in physical form and not in a bank.

Moderator comment: Click the link at the bottom to hear the May 20 KWN audio on this subject

DEBT AND GOLD WILL RISE EXPONENTIALLY

USDEBTvsGOLD1900-2013

Click HERE to listen to the KWN Interview on this subject 20 May, 2013

 

Tweet
Rate :Average note :4.3 (3 votes)View Top rated
Previous article by
Egon von Greyerz
All articles by
Egon von Greyerz
Next article by
Egon von Greyerz
Receive by mail the latest articles by this author  
Latest comment posted for this article
Be the first to comment
Add your comment
TOP ARTICLES
Editor's picks
RSS feed24hGold Mobile
Gold Data CenterGold & Silver Converter
Gold coins on eBaySilver coins on eBay
Technical AnalysisFundamental Analysis

Egon von Greyerz

Egon von Greyerz is the managing director of Matterhorn Asset Management AG based in Zurich Switzerland. He specialises in wealth preservation with the special emphasis on physical gold stored in Zurich outside the banking system.
Egon von Greyerz ArchiveWebsite
Most recent articles by Egon von Greyerz
10/3/2014
9/29/2014
9/27/2014
9/18/2014
9/7/2014
All Articles
Comment this article
You must be logged in to comment an article8000 characters max.
 
Sign in
User : Password : Login
Sign In Forgot password?
 
Receive 24hGold's Daily Market Briefing in your inbox. Go here to subscribe or unsubscribe.
Disclaimer