This is how Egon started his keynote presentation at the Gold Symposium in Sydney. He said this in reply to the CEO of the Perth Mint who in his opening speech had declared that anyone who recommends more than 5-10% in gold lives on a different planet.

In this interview with Shae Russell of Rock Stock Insider, Egon explains why he already back in 2002 considered that to hold up to 50% of financial assets in physical gold was motivated.

“I have never been a believer in conventional wisdom declares Egon. Because it is only conventional without any wisdom.”

It is all about protecting against risk. “You must protect the downside. The upside takes care of itself.”

Debt has doubled since 2006 and risk has gone up exponentially since 2002, Egon now considers that a 50% allocation is low.

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Egon explains how Global Debt and liabilities have now reached over $2 quadrillion including the derivative market which is likely to blow up.

This will necessitate massive money printing, leading to hyperinflation.

Printing fake and worthless money will lead to fake asset values wich will one day implode as the debt implodes.

Property and stocks are likely to go down 90-95% against gold.

Also discussed in the interview:

– Gold has been real money for 5’000 years and is the only currency that has survived
– Most currencies are down at least 80% in this century
– If governments told the truth about money and gold, it would expose their terrible mismanagement

Final advice of Egon:

Study history, study history. No paper money has ever survived. We are at the end of an era of massive debt bubble. This has happened time and time again in history. It is NOT different today.

Risk is currently higher than ever before in history. If you don’t understand the role of gold and that you should have physical gold outside the banking system, you will suffer a great deal in the next few years.

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Egon von Greyerz

Founder and Managing Partner of Matterhorn Asset Management AG (MAM) and GoldSwitzerland, Egon Von Greyerz joined the board of in 2012. Egon von Greyerz started his working life in Geneva as a banker and thereafter spent 17 years as Finance Director and Executive Vice-Chairman of Dixons Group Plc. Since the 1990s EvG has been actively involved with financial investment activities including Mergers and Acquisitions and Asset allocation consultancy for private family funds. This led to the creation of MAM in 1998, an asset management company based on wealth preservation principles. EvG makes regular media appearances (CNBC, BBC...) and speaks at investment conferences around the world. EvG forecasted the current present problems in the world economy well over 10 years ago. In 2002 when gold was $300 per ounce, MAM recommended to its investors to put 50% of their investment assets into physical gold stored outside the banking system.