Greyerz – Institutional Investors Are Following Warren Buffett Into Gold As Central Banks Panic

Today the man who has become legendary for his predictions on QE and historic moves in currencies and metals said institutional investors are following Warren Buffett into gold as central banks panic.

 (King World News) – Egon von Greyerz:  Embrace uncertainty has long been one of my personal mottos. Because from this moment on, everything is uncertain whether it is your personal health, the stock market or the economy. Sure, we work with probabilities and the most likely is that the sun will rise tomorrow again and that I won’t die today. But we are now at a point in history when trend extrapolation is going to be not only precarious but also both foolish and impossible. 

END OF A MAJOR CYCLE
That we are at the end of a major economic and social cycle is totally clear in my mind. But cycles don’t end overnight, if the world isn’t hit by a massive meteorite or nuclear bomb. Whether we are at the end of a 300 year cycle or a 2,000 year cycle, only future historians can tell the world. What is clear, at least to me, is that the end of this cycle started in 1971 when Nixon closed the gold window. Since then global debt has gone up exponentially and now we are in the very final stage of the cycle. This end of the end, that  we are now in, was first evidenced by gold turning up at the beginning of this century. 

This significant trend change in gold that started 20 years ago was a clear indicator that we are now seeing the end of the fiat money system.  Even though manipulated through a corrupt paper market, gold still reveals the deceitful actions of governments and central banks.  There is no better evidence than the fall of fiat in this century. 

CENTRAL BANKS ARE PANICKING
Central banks are failing and they are panicking. The price of gold is telling us this. Since 2000, most major currencies are down circa 85% against gold. That is a total condemnation of the central banks and their failed experiments in creating unlimited money that has ZERO value. The fall of fiat money started in earnest in 1971 and since then all currencies have lost 97-99% of their value. But as the table shows, only in this century, most currencies have lost more than 80%.

THE US ROAD TO PERDITION
The road to perdition for the US really started in 1913 with the creation of the Federal Reserve – a private bank set up for the benefit of private bankers under the disguise of a national bank. The Fed never had the intention of keeping the money supply and the debt under control. Instead their private agenda was always to create as much money as possible for their own benefit…More Here

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