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