# Egon von Greyerz tells Greg Hunter Dollar Going to Collapse, Debts Can't Be Repaid



## BillS (May 30, 2011)

http://beforeitsnews.com/politics/2...llapse-debts-can-never-be-repaid-2637576.html

I've seen a number of videos of different people saying pretty much the same thing but it's still good to see another one if you have the time.

He lays out the coming financial collapse a little differently than a lot of people.


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## hiwall (Jun 15, 2012)

Certainly not saying that he is wrong but he is a gold salesman. But maybe he is a gold salesman because he knows that paper money will soon be worthless. It is true that it is very easy to find people in all walks of life that believe exactly the same as this guy.


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## Dakine (Sep 4, 2012)

hiwall said:


> Certainly not saying that he is wrong but he is a gold salesman. But maybe he is a gold salesman because he knows that paper money will soon be worthless. It is true that it is very easy to find people in all walks of life that believe exactly the same as this guy.


When they mentioned about buying gold at $300 I winced... I wish I'd started putting even a tiny fraction of my money into at least silver starting 20 years ago.


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## Viking (Mar 16, 2009)

There tends to be a lot of negative that is pushed toward people from many sides as to owning gold and silver. I've know a few people that did not realize that physical ownership of PM's is not really something for short term investment even though there are those that have made good money by doing so. The reality is that if one understands that PM's are an investment against failure of fiat money systems which can be very long term in the breakdowns. What happens is that there is a normalcy bias that builds up in peoples thinking, one that I've heard more than a few times is "The dollar still buys things.", on the other hand they complain about the costs of food, fuel and other things going up, not really understanding that what's happened it a devaluation of the dollar. Then there is the feeling that gold or silver will be useless in case of a SHTF situation, "You can't eat it." And I know that one shouldn't put all ones eggs into a basket, if we can we should have things that can be bartered in exchange for something we need. The truth I see in PM's is that for over 5,000 years gold and silver have held a fairly constant exchange for things purchase against a paper money system. Who knows for sure but I happen to believe that if a new monetary system is put into place, PM's can be exchanged in like value whereas fiat dollars could end up being more valuable to burn for heating. Just do a search on Weimar Republic 1923 and see what the Germans went through. Or in more modern times Zimbabwe hyperinflation. One other thing to look at is when the major changes came about after the USSR collapsed and Russia brought out another currency, their old money which most had for their retirements became useless. The one thing that can throw your thoughts about putting money into PM's is fear, one can know about things but it isn't always in their comfort zone of carrying it out, a lot of people have never made major changes like this in their lifetime so it's a precarious step to take for fear of failure. Like all things we should be doing in life, it's all about keeping things in balance. Above all "Due diligence.". Do the research, don't ask family or friends unless you know they have done theirs as you will usually get too much negative input. One of the great places we've gotten a great deal of info is the commentators on the Kitco website.


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## Woody (Nov 11, 2008)

Dakine said:


> When they mentioned about buying gold at $300 I winced... I wish I'd started putting even a tiny fraction of my money into at least silver starting 20 years ago.


But even back then, the same talk went on. It is over-priced and bound for a revaluation. You were getting a much better return for stocks, even bonds than PM's. The price barely changed for years, why have your investment be stagnant? And on and on...

I invested more as a collector. I have some silver dollars I paid several hundred dollars for more than 20 years ago. I also have many I paid a few dollars for. Same with gold coins, if I sold some for melt value I would lose a ton of 'money'. Others I would make out great. I have rolls of 95/5 silver solder I bought years ago. No idea what I paid back then but certainly less than the several hundred I could get for them now.

Same with my other 'retirement plan', Civil War letters and signatures. Back when I bought them they were appreciating nicely (besides, it is really cool to have a hand written letter by a general or other figure, dated during the war, that you would read about in history books!). In past years the value has been flat, and would be difficult to sell now in some cases.

Point being, you never know. Silver could still be at $4 or $7 an ounce. Gold might have fallen from $300 to $250 or less.... Would you have jumped on Apple or Microsoft when they first came out? A home computer! This is going to be HOT!!! EVERYONE will want one, I'm dumping all my investments in them!!! Or, would you have been like most of us going "A what? Computer in a home? Why would anyone need that? It is going to be a passing fad."


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## BlueShoe (Aug 7, 2010)

Classic cars guys were saying in the 2003-2007 era, "If we knew these cars would be worth so much, we would've bought more of them." The truth is we knew they were going to be worth much more all along. We just didn't want to spend the high price on them at the time and take the risk on what is a toy, essentially. We didn't see them going into bubble territory like they did, but that changed in 2008 when realty values/cheap lending collapsed.


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## Tweto (Nov 26, 2011)

Just before I retired in 2001, I had a conversation with another employee that was also retiring. He said that he would buy Berkshire Hathaway stocks with his retirement money but he couldn't afford the $50,000 a share price, I told him that he will be kicking himself when the stock went to $100,000. Well guess what! It's now almost $200,000. 

I did the math and found that if I had put my money into gold instead of my 401K, I would have $250,000 more then I do now and I would not have had to pay tax on it which would make it worth at least $250,000 more Vs my 401K.


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## Hooch (Jul 22, 2011)

he seems to be a well respected businessman in the world of pm's it seems who has some very high end type clients that I doubt he would steer astray. I recall a interview he gave king world news about a year or so ago when he was alarmed when he advised his clients to "get physical" with their pm's they had supposely lying in vaults of banks and whatnot. Some clients came back to him and told him they werent allowed to get to their vaults, get physical or even see it. 

He is interviewed often on king world news among other folks that seem like the cream of the crop type investment, pm and economic type folks. It certinally doesnt bode well for folks like him who sell pm's to people who arnt allowed to actually own it, place it in their own vaults, or even see it...


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## Dakine (Sep 4, 2012)

Hooch said:


> he seems to be a well respected businessman in the world of pm's it seems who has some very high end type clients that I doubt he would steer astray. I recall a interview he gave king world news about a year or so ago when he was alarmed when he advised his clients to "get physical" with their pm's they had supposely lying in vaults of banks and whatnot. Some clients came back to him and told him they werent allowed to get to their vaults, get physical or even see it.
> 
> He is interviewed often on king world news among other folks that seem like the cream of the crop type investment, pm and economic type folks. It certinally doesnt bode well for folks like him who sell pm's to people who arnt allowed to actually own it, place it in their own vaults, or even see it...


I get the whole thing about owning PM's way outside of my budget and not wanting those stored under the mattress, but for everyone else.... if it's not phyz in your hands (locked in your safe) then it doesn't exist and the wealth may be confiscated by the banks, including if it's in safety deposit boxes.

If it's not phyz, it's not real.


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## hillobeans (May 17, 2012)

There's still 43 minutes to go til the end of June 20 (your last predictiction of ecomonic collapse, Bill). Hedging your bets?


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