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Wednesday, 1 February 2012

Von Greyerz - Gold Market Positioned for Massive Upside Move

Today Egon von Greyerz told King World News that central bank balance sheets are expanding at a dangerous rate and this is a recipe for an explosion in gold and silver prices. Egon von Greyerz is founder and managing partner at Matterhorn Asset Management out of Switzerland. Here is what von Greyerz had to say about central bank activity and how it will impact gold and silver prices: “I’ve been looking at the explosion of the balance sheets of the central banks and it’s just astonishing to see how much money they are printing and how their balance sheets are expanding. We have the absolute perfect recipe for hyperinflation and thus a massive increase in the price of gold and silver.”

Egon von Greyerz continues:

“It’s not just the ECB balance sheet that’s gone up in the last six months or even the last three months by hundreds of billions of dollars. It’s the same with the Fed, Bank of Japan, The Bank of England and the Swiss National Bank, they are all exploding. This can lead to only one thing and the market seems to be totally ignorant of this.

The repercussions are going to come very soon. As I said, this can only lead to one thing, an explosion higher in gold and silver prices and the beginning of the massive inflation, which will lead to hyperinflation.”...more

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