On King World News, the Austrian-following Egon von Greyerz claims that nothing ‘the establishment’ can do will postpone a global fiat currency financial breakdown into infinity. They may be able to kick the can down the road a few more times, he claims, for example by endlessly printing paper money to bail out Greece, but in the end, this will only make the final fiat currency collapse even worse.
He predicts that in today’s terms of purchasing value, gold should be able to buy you the same amount of real goods that $10,000 dollars currently buys, but the nominal price will go much higher than that, once the money printers have finally broken the system, before Marc Faber’s ‘Great Reset’.
- Egon von Greyerz, interviewed by Eric King, Why Gold Price Will Hit $5,000 in 24 months, Silver $166 & More, Tuesday, February 7, 2012
Follow this link for the Deus Ex Machina article that Herr Von Greyerz speaks about during the interview, which I like because it contains a Ludwig von Mises quote:
“There is no means of avoiding a final collapse of a boom brought about by credit expansion”