Egon von Greyerz: Hold gold outside the banking system
Victoria Hewitt-Marsh, News Editor
17 Mar 2014, 10:51 a.m.
Legendary investor and founder of Matterhorn Asset Management Egon von Greyerz told King World News there will be massive destruction of wealth over the next two years as shares, bonds and paper curriencies all fall in value.
Greyerz recommended gold back in 2001 and expects the slide in the dollar to cause gold to rally and potentially break through the August 2013 high of $1,413.
Greyerz recommends that all investors must hold physical gold outside the banking systems to eliminate counterparty risk and believes gold will continue to maintain its purchasing power.