Gold In Uncertain Times: "The West Doesn't Get It... They've Been Indoctrinated By Paper Money"

Tyler Durden's picture

In this fascinating interview on RealVision TV, Grant Williams and Egon von Greyerz cover a very broad range of subjects from gold, wealth preservation to debt, interest rates, Brexit, the EU and much more.

The interview was recorded in London at the end of 2016 but the discussion is timeless and extremely relevant in regard to future events and risks.

The biggest risks ahead according to Egon is the global bond markets. He predicts rates going to very much higher levels like in the 1970s. That will lead to more money printing, faster currency debasement and the demise of the bond market.

Grant and Egon also discuss that in every period of panic and crisis combined with economic mismanagement, which we are seeing today, gold has always acted as insurance. The setup is now perfect for gold to act to protect wealth against the coming problems in financial markets and the world economy..."the Indians know this, the Chinese know this but the West doesn't understand because they have been indoctrinated by paper money..."

As inflation rises institutions will be obliged to hold gold as a hedge. Since gold production is coming down substantially over the next 8 years there will be less gold available. No one will trust paper gold. This will lead to major upward pressure in the price of physical gold. Future increases in demand can only be satisfied at much higher prices.

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Full interview below: One of the most respected names in the gold market, Egon von Greyerz illuminates the discussion on the long term trend for the precious metal, against the current climate.


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Real Vision: Raoul Pal and Grant Williams created Real Vision which is great financial video-on-demand service with over 500 in-depth interviews with the world’s sharpest independent analysts, fund managers, geopolitical strategists, economists and investors. Free from groupthink, advertising or bias, Real Vision presents its viewers with the very best economic information and financial insight available and then allows them to make up their own minds, and profit from knowledge.

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Truther's picture

The west is deceived and lives in LALA Land... Wake me up when this shit is over.

Long gold bitchezzzz.

Nemontel's picture

You shouldn't be asleep before the shit is over. The likelihood of you surviving the shit will drastically decrease.

xythras's picture
xythras (not verified) Nemontel Mar 12, 2017 3:36 AM

But but the economy is booming. Trump said so.

Obama also said so: Mah legacy! and showed us some cute numbers.

Ooo wait.. they were fake just as his birth certificate.

Malik Obama Posts What He Says is Barack Obama’s Real Birth Certificate…From Kenya!


What are brothers for?  If not for trolling you when not president anymore.

prime american's picture
prime american (not verified) xythras Mar 12, 2017 5:06 AM

I'm making over $7k a month working part time. I kept hearing other people tell me how much money they can make online so I decided to look into it. Well, it was all true and has totally changed my life. This is what I do...

BaBaBouy's picture

Battle Of The TITANS: FED Paper Control Of ALL, VS GOLD ...

History Is the Best Indicator...

$45K GOLD...

Stuck on Zero's picture

Don't believe that gold production is falling. The largest source of gold today is the pool of 20,000,000 illegal miners worldwide. With operations ranging from a single man up to many thousands working in dirty, unsafe pits in South America, Africa, Asia they're extracting perhaps 5 ounces per miner per year. That's 100,000,000 ounces yearly. And that amount is growing. Thousands of tons of Mercury, sick miners, polluted landscapes, and massive environmental damage is one result. The other result is investors looking at the "official" gold production and consumption numbers and wondering why the price doesn't rise.


Bay of Pigs's picture

Gold and silver sentiment today reminds me of 2001 before the bust and start of the ten year Golden Bull run.

And here we are again...stocks at all time highs, housing bubbles, massive debt loads, etc...

What could possibly go wrong?

small axe's picture


we're in an endless loop of willfully misguided policy. A few people get rich. The rest of us pay for it.

HRH Feant's picture
HRH Feant (not verified) small axe Mar 11, 2017 9:39 PM

Silver is still less than $20 FRNs. You can buy a pizza or buy something real. The choice is up to you.

wee-weed up's picture

Brain-washed by the Gov't & the bankers... is more like it.

A L I E N's picture


Well its unfortunate that the west taxes metals with capital gains...

HRH Feant's picture
HRH Feant (not verified) A L I E N Mar 11, 2017 10:50 PM

I agree. Hopefully that will change.

GoonerDog's picture

My understanding is that you can minimize or avoid capital gains taxes by keeping the transactions under certain fake fiat amounts.  I also understand that I may be full of shit. If someone knows for sure, please let me know.

GoonerDog's picture

Guess I should have read the replies below first before commenting. I'll take the hit and downvote my previous reply. Thanks for everybody's feedback.

Doña K's picture

I believe that it is only if you sell more than 25 oz's each time.

Silver bullion bars and rounds when sold in 1000 ounce or more allotments to dealers are not private. Gold bullion bars and rounds when sold in kilo or 32.15 ounce or more allotments to dealers are not private.Some gold coins (Canadian Maple Leaf coins, South African Krugerrand coins, Mexican Liberated coins) when sold in 25 ounce or more allotments are not private.Pre-1964 U.S.A. 90% Junk Silver coins sold in $1,000 face value bag sizes or larger are not private.Other gold and silver coins not listed here are fully exempt from IRS dealer reporting requirements…  at least they are exempt at the moment.

August's picture

Sell, or buy, your PMs in friendly next-door Canada.  

You will, of course, be leaving a paper trail for any transactions above about $2,000, but you'll be using your second passport and ID, so it will take some serious sleuthing by the US to track you down....

Not My Real Name's picture

What metals? Er, I was forced to sell all mine ... yeah, that's it. Trust me.

83_vf_1100_c's picture

Mailman dropped off a dozen silver maples and a 1/10 gold maple today.

That 1/10 AU is tiny. $138.00 tiny. They just gotta beat down gold some more.

SoilMyselfRotten's picture

Do toppings come with that pizza?

TheRideNeverEnds's picture

If gold and silver had any real value then every huckster in the world would not be selling it hand over fist.

Any moron can go dig up gold and silver for basically nothing but only a select few can create rare assets such as Facebook and Amazon stock. Those idiots will keep buying shiny rocks though. It doesn't matter that they would have made literally thousands of percent more invested in actual assets vs their pet rocks. These fools still believe in "sound money" and "tangible assets" above all else.

In thirty years when they are wasting away on government welfare in section eight studio apartments while their peers who bought stocks are living in million dollar mansions and spending their weekends on private yachts they will likely still be poo pooing the exponentially increasing value of stocks over their stagnant, zero yield 'precious' metals. At least they will own assets with "real" value. Unlike those billionaires with their private jets bought with "fake money".

Doña K's picture

Dealers buy gold by declaration. Once you buy 100 oz. of gold at the spot price, the dealer automatically places an order for the same number and same spot price on the phone or online to his supplier and he makes a commission of $30 to $80 per oz. He could not care less what the price of gold is. 

Miners, mine the gold and sell it. Their profits vary based on cost to mine it and interest on loans for operation. The average cost now is $900/oz of gold.

Silver is much cheaper as it is a byproduct of copper mining. 

Stay with the promisory notes (paper)

peterk's picture

what a stupid comment ..." rare asset like  facebook and amazon"

 yes they are really rare, they both loose  money on an ongoing weekly basis and use

accounting rules from some  backwater jursdiction in Bangladesh to make it look

good on paper.

what a rare asset!


As for your billionaire freinds and their jets, lets see if they are still flying after one

economic cycles passesby.






GoonerDog's picture


If someone has a negative viewpoint on the value of precious metals, fine. But when somebody describes Facebook as a rare asset, then I know who found the psych medicine I lost a few weeks ago! LMFAO...


manofthenorth's picture

"Any moron can go dig up gold and silver for basically nothing"

You really are a FUCKING idiot.

That is why EVERY Tom Dick and Harry is out with a pan and a mule and killing it picking up "pet rocks" right out of the backyard and parks, RIGHT ???

If mining was such a simple task, all the metal on Earth would already be in a stack somewhere.

Good luck mining wall street for your "EASY" fortune.

The ride does end.

No one here gets out alive.

RIP Bill Hicks

Paul Kersey's picture

"Executive Order 6102 is a United States presidential executive order signed on April 5, 1933, by President Franklin D. Roosevelt "forbidding the Hoarding of gold coin, gold bullion, and gold certificates within the continental United States". The effect of the order, in conjunction with the statute under which it was issued, was to criminalize the possession of monetary gold by any individual, partnership, association or corporation."

They've already taken the interest on our savings, so what makes you think that they won't tax gold at over 50%, and that's after they make us prove our basis? Anything of value we've got, the kleptocratic wealth extractors in charge will take from us.

Der Libertäre's picture

I woke up, looked into the news, read about brainsick turks making kind of civil war in other peoples countries and accepted the still unchanged gold price of friday night for my last Euros. I wanted to buy at a clear bottom, but somehow I could not wait for confirmation.

mqg25's picture

As I recall this may be a deja vu. The last big crash was in 1929. It was the last time all three branches of government were controlled by Republicans, not saying they were totally responsible, but TPTB like to play by the same playbook.

Right-on Left-off's picture

In the past, one could live through it and die and never suffer the consequences.  Today and into the near future ..... ?

Erwin643's picture

Yeah,... Fucking Grant Williams... Go figure.

I knew it before I even opened this article. I wonder who pulls his strings.

"The West doesn't get it." Yeah, oh well, whatever. In the meantime, I'll just keep on making money, shorting volatility.

Fuck him.

Blazing in BC's picture

On a lighter note...from Nov 2010...Seventeen people were accused yesterday of stealing $42.5 million from Holocaust survivor funds by ghoulishly recruiting phony Nazi victims.

Six of the alleged scam artists worked for the Conference on Jewish Material Claims Against Germany and helped orchestrate 5,500 bogus applications over 16 years. prosecutors charged.

"If ever there was a cause that you would hope and expect would be immune from base greed and criminal fraud, it would be the Claims Conference," said Manhattan U.S. Attorney Preet Bharara.

The conference administers funds to those who fled Nazi persecution or survived concentration camps. Among those charged was Semyon Domnitser, a former director of the conference who was fired last February.

Officials said the scam operated by creating phony applications with false birth dates and invented histories of persecution to process compensation claims.

In some cases the recipients were born after World War II and at least one person was not even Jewish. When a phony applicant got a check, the scammers were given a cut, Bharara said.

Many of the applicants were recruited from Brooklyn's Russian community, prosecutors said. All those charged hail from Brooklyn. Four have pleaded guilty and are cooperating, officials said.

The Claims Conference contacted the FBI in December 2009 when it suspected the funds were being looted.

"It's disgusting that anyone would steal under these conditions," said the Claims Conference VP Greg Schneider.

He said the fraud went undetected despite regular audits. "They were very good at creating fraudulent documents," he said, noting less than 1% of money distributed was stolen.

One of the funds provides one-time payments of $3,600 to Jews who fled the Nazis. The other provides $411-a-month to poor Jews who spent time in a concentration camp, Jewish ghetto, or had to assume a false name to elude capture.

Funding comes from the German government and more than 600,000 claims have been processed worldwide.

Justin Case's picture

Documents released by the German Red Cross in 1984 show the number of deaths at each camp. The combined total of all the operating camps during WWII was 282,077.

Auschwitz accounted for 53,633

Mauthausen accounted for 78,824.

Auschwitz is the big money maker from tourists. No mention that there were never any gas chambers there. A lot of changes were done after the woar according to the original German blue prints. Russians put the vents on the roofs after the woar, walls were removed to create large rooms. One room they say was a gas chamber but has no gaskets on the doors and the other issue is the doors open inward to the room. It's a stupid idea and I don't believe that the German architects were that dumb. Bodies would be laying in the way to open the door. We were told by the guide that hundreds of people were jammed in and gased at a time, so I imagine they would all be on the floor blocking the entrance?Without gaskets people around the area would have been poisoned as well. The room would be dangerous for over a week to enter without a PAP (Personal Air Purifier) Very inefficient method. Bullets were quick and really cheap, so gassing is over complicated and expensive and dangerous to others.

No business like shoah business.

Bigly's picture

This westerner likes shiny. Illogical article conclusion

Wrong audience anyway as most hedgers appreciate stacking even though we are high risk boaters 

BigFatUglyBubble's picture

Seperate a Federal Reserve note in half and it's worth nothing.  Seperate an ounce of gold in half it's worth the same.

Cashier handed me $1 bill change today, taped together down the middle.  I had a good chuckle. 

Bricker's picture

I understood your point but a half is worth half. Half of a dollar is worth half of nothing, and a half oz of gold is worth half the value of gold.

Adullam's picture

I think he means that the 2 halves of gold separate from each other still hold the same value as the whole oz prior to division. The 2 halves of a dollar bill are worth nothing separate from each other.

Greendawg's picture

There are retards here who believe shitcoin is money.  that in itself is a testament to how dumbed down western society has become.  

HermanVanCuckold's picture

This crypto vs gold argument on ZH is tiring. Why not grab a bit of both, with silver too?

Mustafa Kemal's picture

"This crypto vs gold argument on ZH is tiring. Why not grab a bit of both, with silver too?"

Yup, why not. Also dont forget a little Pb.

HermanVanCuckold's picture

This crypto vs gold argument on ZH is tiring. Why not grab a bit of both, with silver too?

jrock's picture

Not counting the know-how (math and stuff), even the electriciy used to mine bitcoin makes it of some value. I don't own any but work in IT and people who say "that's dumb" make me laugh. The dollars you pay your mortgage/bills/crap with are even less valuable.  They come from thin air, but bitcoin doesn't.


jrock's picture

Usually an argument along the lines of "that's stupid" is a leper's bell for an approaching moron.


Greendawg's picture

awww how cute another shitcoin pumptard mistaking his ignorance and hubris for intelligence.  Typical of the con artists in the sespool known as the shitcoin community.

Mustafa Kemal's picture

"  Typical of the con artists in the sespool known as the shitcoin community."

Is the shitcoin community long on ad hominems?  

Whenever, someones posts are full of them I think:

awww how cute another  pumptard mistaking his ignorance and hubris for intelligence.

Greendawg's picture

the shitcoin pumptard only knows ad homenins and strawman arguements.  They are completely void of facts and logic and they are oooh so triggered by truth.   thier only goal is to steal from honest and hard working people who are disenchanted by the erosion of thier purchasing power.  THe only goal of the pumptard crooks is to get the FIAT of those poor honest souls.   Now run along child!!  DOnt you shitcoiners have some children to take adavantage of?  And no im definitely not beyond insulting you crooks.  Everybody else should shame and villify you crooks at every chance they get as well.  

Greendawg's picture

AHAHAHAHAH i love how the pumptards always try to incinuate that because you are dumb enough to waste money on electricity for it that its supposed to translate into some sort of imaginary value.  Ahahahahahahah when will these children learn.  Thanks for proving my point.  ahahahaha what a fuckwit!

83_vf_1100_c's picture

I accidentally left the shop lights on last night. Where's my money?

TheEndIsNear's picture

False, because the electricity used to mine bitcoin is energy that has been wasted in the past "mining" the coin.
That energy is now gone and cannot be used for the benefit of the bitcoin holder.

squid's picture

Bit coin has its place, as a means to MOVE wealth from point A to point B.


But it is NOT a store of value, that is gold's job.

You get into bit coin, move your funds and then get out.