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Bullets, Beans


Thursday, 15 December 2011

Von Greyerz - Currency Collapse, Hyperinflation & Social Unrest

“There were two alternatives, a deflationary collapse, which would mean that no bank would survive and that would be very good for gold. The more likely scenario, which I’ve been predicting for probably ten years, is we would have hyperinflation because governments need to print unlimited amounts of money. 
That was clear in 2002 and that’s why we told clients this is the only way to protect your assets, by putting up to 50% of your assets into gold and to store it outside the banking system because we don’t know if the banking system will survive...There is no alternative in my book, everything else is paper which will decline dramatically against gold.

We have an unprecedented situation in the world. There has never been, in world history, a situation where all major sovereign countries are bankrupt. And, in addition, the whole financial system is bankrupt....more

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