Bank-Held Gold: Gone When Needed Most

Founder @ Matterhorn Asset Management & GoldSwitzerland
June 1, 2021

The highly acclaimed crypto market is undergoing a harsh correction, painfully demonstrating how quickly governments can put this asset class in distress. As we’ve repeatedly argued, crypto’s are not a wealth preservation asset. In the U.S. and globally, prices are rising at rates not seen in decades. Asset price inflation is now spreading to everyday goods as the velocity of money in circulation increases, in some cases exacerbated by artificially created shortages. It looks as if we have to prepare for shrinking economies and inflation. In this mix, more and more institutional investors are recognizing the need to diversify their portfolios with gold as a stable currency and inflation hedge. If they choose ETF’s for this, they put themselves in danger of having no precious metals in case of emergency. The Perth Mint’s problem should provide a cautionary tale for investors.

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Egon von Greyerz – Founder and Managing Partner of Matterhorn Asset Management (MAM) and GoldSwitzerland based in Zurich. Egon forecasted the present problems in the world economy already in 2002 when he recommended to investors to allocate 50% of assets into physical gold (at $300) stored outside the banking system. Egon began as a banker in Geneva and was thereafter Finance Director and Vice-Chairman of a FTSE 100 company in the UK.  He makes regular media appearances  on CNBC, BBC and King World News and speaks at investment conferences around the world. MAM (founded in 1999), specialises in wealth preservation. GoldSwitzerland buys, sells, transfers and stores physical precious metals for private investors and institutions outside the banking system. His website is www.goldswitzerland.com

In 1792 the U.S. Congress adopted a bimetallic standard (gold and silver) for the new nation's currency - with gold valued at $19.30 per troy ounce

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