"Von Greyerz sees currency collapse, hyperinflation in King World News interview" – GATA
The mindless retail fund algos are letting their sell stops go off but at today's lows I'm guessing a lot of smart money is getting in for the long term all the way down to $24 and margin requirements should drop around then as well I'm guessing. For long term wealth preservation, the patient deep pocketed people and entities know this is a great long term buying opportunity in my opinion because when the stuff hits the fan on just how deep the fiat rabbit hole goes, Zimbabwe II is in store for all fiat backed only by debt, which can never be repaid at current currency valuations, and gold is still the only real universally trusted money, just not yet a currency.
Dear Friend of GATA and Gold:
All major countries are bankrupt, as is the whole world financial system, fund manager Egon von Greyerz tells King World News today, and while the focus is on Europe for the moment, it will shift to the United States, and the only solution for governments will be infinite money printing leading to currency collapse, hyperinflation, and social turmoil. An excerpt from the interview has been posted at the King World News blog here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.