With continued uncertainty in global markets, today the man who has become legendary for his predictions on QE, historic moves in currencies, and major global events, spoke with King World News about the road to financial Armageddon.

Gold Has Skyrocketed In Foreign Currencies
Egon von Greyerz:  “As the gold market takes a break in its journey to much higher levels, it is good to step back a bit and understand why gold has appreciated so dramatically in the last 100 years and why this will continue for many years to come…

Egon von Greyerz continues:  “Most people have no idea what money is. They believe if they have 100 dollars or euros, that this represents real value as well as durability. Few people realize that their currency they call money has nothing to do with money at all. All paper currencies are ephemeral and return to their intrinsic value of zero. This is because reckless governments cling to power by printing or borrowing endless amounts of fiat money in the hope that they will placate the people and buy votes. Fiat money as the name indicates, can never be real money. It is issued by edict and is not backed by anything but debt and liabilities. 

Power corrupts and money corrupts. It is a lethal combination that not only destroys people but also nations. And sadly, we have now reached a point in history when the unlimited amounts of fiat money that have been created will also destroy continents. To understand what money is and isn’t, we can just look at the example below. 

Most people in the country believed that the Zimbabwe dollar was money and that it represented reward for labour and or production. But as the irresponsible regime started to run out of tricks to cover up their total mismanagement of the economy, they had to print endless amounts of money until even the 100 trillion dollar note was totally worthless. Inflation in Zimbabwe rose exponentially. In 2008 annual inflation was estimated at 90 to the power of 21 % (90 with 21 zeros). During the same period the US dollar rose by 10 to the power of 30 % (10 with 30 zeros) against the Zimbabwe dollar…..More Here