Publications

The secular bull market in stocks is very likely to finish in 2021. This turn could be at any time. Just like in 2000, it will all happen very quickly and this time it will be the start of a very long and vicious secular bear market. Real assets like gold, silver and platinum will be investors’ life insurance. To hang on to stocks and bonds will totally destroy your wealth and your health.

US and Europe Gold Imports/Exports for December and the year 2020.

Our antidote to the dying paper wealth of all global paper currencies, of course is physical gold. This is no secret, and to some, perhaps even an illogical, and even outdated bias.

Although the expectations of higher fiscal stimulus plunged gold prices in January, more government spending – and expansion in budget deficits and public debt – could ultimately turn out to be supportive factors for gold. Especially if easy fiscal policy will be accompanied by the accommodative monetary policy – in particular quantitative easing and a rising Fed’s balance sheet – and inflation.

When a world already in trouble was hit by a severe financial crisis in September 2019, the dose of debt was already excessive. But as the Fed and the ECB opened the money spigots fully, they filled the world with poisoned or fake money. The BY team (Biden & Yellen) will now be certain to finish this process with their profligate spending plans.

For the first time ever the total value of the U.S. equity market is worth twice as much as the real economy. A true financial bubble. Previous highs of the equity to GDP ratio were followed by significant gains in the price of gold. This time around I expect the gold price to rise as well.

Central banks will remain the best friend to precious metals, as the more fiat money they desperately create to “accommodate” broken debt markets, the greater the currency debasement and hence the more inevitable the price moves north in both gold and silver.

Central banks are unlikely to reduce their gold holdings by mid-2021. In fact, the opposite can happen with an increase in gold allocations: just over 60% of respondents, a group of central banks responsible for $1.7 trillion in total reserves, said they expect their gold holdings to increase over the next twelve months.

The artificial control (repression) of yields and rates means cheaper debt, and hence more binge borrowing (and hence price inflation) on everything from over-priced homes to over-pumped stocks driven by easy and cheap debt rather than old fashioned things like, you know…profits and earnings.

Jim Rogers is one of the world's most successful investors. He tells us which investments he finds interesting in the pandemic and why commodities are facing the biggest bull market of our lifetime.

Currencies, already debased, will hit the basement of time, and the current tricks used to keep paper gold down won’t prevent physical gold from getting the last laugh, as well natural climb northward.

Is the silver market of interest to the traders? Cheaper than gold, this asset would also be "undervalued" according to Étienne Dargent, director of GoldBroker.com. He assures that the grey metal has a strong potential and can represent a real alternative to bitcoin and gold.

Egon discusses the declining purchasing power of the USD, the inevitable money creation foreseen by the Biden/Yellen duo, the interplay of inflationary and deflationary forces and the clear warning that too much debt and monetary support of the same, like too much of anything, is a toxic plan which never ends well.

What better partner than gold and silver, as precious metals are absolutely precious to broken-hearted currencies diluted by years of dishonest, artificial, low-rate supported bond markets and a national and global debt bubble (ripping north from $258T to +$280T in less than a year).

Egon von Greyerz and Matthew Piepenburg discuss the “great inflation debate” and the ongoing as well as open secret of price manipulation in the paper gold & silver markets.