Egon von Greyerz: No Other Way! Stocks & Property To Lose 95% Against Gold

You can’t just make the debt disappear and have the assets stand there at the values that they are today…

by Greg Hunter via USAWatchdog.com with Egon von Greyerz

Financial and precious metals expert Egon von Greyerz (EvG) predicts, “All of these bubble assets that are based on just credit and credit expansion are going to implode measured in real terms, measured in gold. I expect the stock market and the property market to lose at least 95% or more in real terms. . . . The next up cycle for gold (and silver) has started. The next phase of this market has started, and it is going to go on for a long, long time. It is going to go to levels that will be hard to believe today. . . .The world cannot have solid growth until this debt has imploded . . . the transition will be terrible, but I don’t see any other solution to this. . . .The debt can only be wiped out by also wiping out all the asset values. You can’t just make the debt disappear and have the assets stand there at the values that they are today. . . . When this debt is written off or implodes, or whatever they want to call it, that means all these assets are going to go down. That’s why I am saying it is going to go down 95% against gold. There is absolutely no other way, in my view.”