by Richard DaveyAugust 3, 2012
Today Egon von Greyerz told King World News,the risk is enormous with the financial system.
Greyerz, who is founder and managing partner at Matterhorn Asset Management out of Switzerland, also said, time after time we are reminded that the system fragile and is bankrupt. We’ve had Lehman, AIG, MF Global, PFG, the latest is Knight Capital which lost $440 billion overnight. This just shows that it’s not safe for investors to keep their money in the system. These are just examples, there are many more to come.
Greyerz also added: “Alf Fields now reconfirmed his target of $4,500 for gold bullion. That means a target for silver of about $158. These figures sound unreal today, but they will happen. They will happen as a result of unlimited money printing and problems in the world financial system.
With the combination of the risk of the financial system collapsing, and with massive money printing, investors must have enough physical gold bullion, obviously stored outside of the banking system, to ensure themselves against a potential wipeout. That is the most important message I have to stress today.”
News Source: http://www.free-press-release.com/news-the-risk-of-systemic-collapse-is-now-enormous-gold-is-the-safe-haven-1344017478.html
Official Website: http://www.goldbullionadvisors.com
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