The ECB Move, $5,000 Gold & $150 Silver

Posted by Egon von Greyerz: Matterhorn Asset Mgmt.

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Investors are shifting from gold ETF’s to physical gold, and that the “move in gold and silver has barely started.” says Egon von Greyerz the founder of Matterhorn Asset Management

In an interview with King World News  von Greyerz says the shift has commenced because investors are concerned about the prospect of a systemic collapse.

Greyerz made these remarks following the ECB’s approval of unlimited bond buying, observing that the European Central bank will do everything in its power to preserve both the euro and eurozone.

According to Greyerz money printing is “absolutely guaranteed” and the prospects for the EU’s Mediterranean members are dire with Greece bankrupt and Spain a “basket case.”

In the event of systemic financial collapse, Greyerz says the only surefire means of preserve wealth is to keep physical gold outside of the banking system.

Gold in a safe deposit box in a bank is also not safe because if something happens to the financial system banks will close, and who knows when they will reopen? You will not have access to your gold. So I would not keep gold in a safe deposit box. The bottom line here is that gold and silver stored outside of the banking system is the ultimate way to preserve wealth

Greyerz also sees both gold and silver hitting stratospheric heights in the face of imminent catastrophe, with gold reaching $4000 – $5000 and silver $150.

….read more HERE