Egon von Greyerz

“Gold has no role in portfolio of wealthy clients” said the chief investment officer of Goldman Sachs’ private wealth management in the week that gold in US dollars went up by over $100 and made a new high of $1,984. Many found this statement puzzling …

The global financial system has for half a century undergone an act of contortion that few believed was possible. This has led to a warped system with fake money and false markets. Read more…

Zeus punished the hubristic King Sisyphus to roll a huge boulder up a very steep hill in Hades. Before Sisyphus reached the top, the stone rolled down and he had to start all over again. Read more…

What does it take to break the global financial system? Well, we obviously know what it takes since the system is already broken. Broken by debts, broken by deficits, broken by a fractured financial system, and broken by false markets as well as fake m…

As the world economy desperately tries to navigate to a safe harbour, is it going be pulled down by the six-headed monster Scylla or the Charybdis whirlpool (Homer’s Odyssey). It seems likely that Scylla is now starting to swallow parts the world befor…

The financial system has been on the verge of collapse since September 2019 when we started Repos and QE. And since then it has only got worse. The coronavirus hit us at a time when the banking system was almost down and out.  Read more…

There are lies, damned lies, and economists. Whether these economists work for the government or a bank, they spend all their time on the computer extrapolating current trends with minor adjustments. 

If you want to understand the future, don’t spen…

“Extraordinary Popular Delusions and the Madness of Crowds” happen with regular intervals as Charles Mackay wrote about. It seems that the world experiences more delusions and madness than truth and sanity.  The pattern is always the same. The economy …