Today Egon von Greyerz told King World News that delays from Swiss gold refiners have expanded to a stunning 5 weeks. KWN readers need to remember that the Swiss refiners refine over 75% of the world’s gold supply. Greyerz also discussed what is happening with gold demand in other key markets. Below is what Greyerz, who is founder of Matterhorn Asset Management out of Switzerland, had to say in this remarkable interview.
Greyerz: “Eric, the world has no idea what’s going to hit it. The majority of people today in the West are living in debt and have no assets to protect, but for the people with savings and wealth and for the managers of funds, they don’t realize that they have lost 60% to 80% in real terms over the last 13 years.
Not only has cash in the bank gone down by 80% in real terms, which is against gold, but so have stocks, housing, commercial property, and many other assets. So people live under the false illusion that paper money is a true measure of their wealth. As we know, nothing is further from the truth….