Greyerz – The Masses Will See The Total Destruction Of Their Assets

December 20 (King World News) – Egon von Greyerz:Most people are familiar with the Aesop fable “CRY WOLF” about the little boy who falsely called out Cry Wolf too often to his villagers when there was no wolf around. Then when one day the wolf came and the boy again cried, no one believed him and the consequences were fatal for the flock of sheep.

I (and a few others) have Cried Gold for 20 years but less than 0.5% of global financial money is invested in gold, so very few have listened to our cry.

GOLD HAS OUTPERFORMED EVERY ASSET CLASS THIS CENTURY It is even more surprising since gold has outperformed virtually every major asset class in this century as well as all currencies. The dollar is down 85% against gold since 2000.

The Dow down 67% since 1999 (excluding dividends).

As a rule, mankind ignores history and therefore forgets that credit and printed moneydon’t equal wealth. So today’s conventional wisdom says that gold has little purpose in the modern world. But what you learn from a long life is that these beliefs contain no wisdom but are merely conventional…

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