Debt in the next few years will not grow exponentially, instead debts will grow hyperbolically. This is because it will be necessary to finance the U.S. government’s deficits, a failing financial system, and to finance the collapse that is still to come in the one quadrillion dollar derivatives markets. All of this will lead to the end of the U.S. dollar as the world’s reserve currency. So how, in light of this horrendous situation, do we actually preserve wealth? Well, two assets that will maintain their value in real terms will be physical gold and silver, but they must be held outside of the banking system.” Greyerz also added: “Just looking at the metals in the short-term, Eric, I see them rising from here. I think the correction we have seen is now finished and I expect new highs for both metals in 2014.”
Posted on: Tue, 06 Aug 2013 06:53:38 +0000
Recently Viewed Topics
© 2015