Investor Talk, Released on 7/21/23

Ripple’s victory against the SEC revives the crypto market. A distraction? Food sales are falling sharply in Germany and France, and a McKinsey survey confirms that people are saving more and more on daily living. The trend is set to continue. In the U.S., housing evictions are rising sharply, but owners are also struggling, for example because of higher interest rates and energy costs. The superficially good figures from the U.S. labor market hide the fact that there are shifts from full-time to part-time jobs. The banking crisis is also not over and loan portfolios are deteriorating. A debt collapse can occur at any time and without the ability to react, and the glut of new paper money will reach unimagined dimensions. Whether a gold-backed BRICS currency comes or not, the dollar continues to lose ground and central banks will increasingly rely on gold as a reserve asset. Take precautions, because it is unlikely that elephants will fly.

0:00 Intro
1:05 Crypto surge as a red herring?
2:55 States that want to introduce CBDC’s will not be sympathetic to cryptos
3:20 Food sales in Germany and France are falling sharply
5:10 Inflation will remain high, forcing consumers to save money
6:45 Evictions in the U.S. are rising sharply, surpassing pre-pandemic levels
8:50 Cost increases related to housing, such as energy prices, are weakening consumption
9:45 Sales of luxury goods will also drop sharply
10:30 The US labor market is still equated with the strength of the US economy. A fake?
12:10 A shift from full-time to part-time jobs is taking place
13:30 According to official figures, the U.S. has grown much faster than Europe since 2008
15:30 The US banking crisis is far from over
16:30 Credit portfolios are deteriorating dramatically
17:50 A debt collapse can happen at any time, with no way to react
19:00 A gold-backed BRICS currency is doubtful, the dollar continues to lose anyway
21:30 Debt explosion will reach unprecedented levels
22:40 Central banks will switch from US dollars to gold for their reserves
23:30 All circumstances favor gold and it should appreciate strongly in real terms
24:55 When elephants fly, you should not have gold

Egon von Greyerz is founder and Managing Partner of Matterhorn Asset Management AG & GoldSwitzerland. Since the 1990s Egon von Greyerz 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 Matterhorn Asset Management, an asset management company based on wealth preservation principles. MAM is part of the Aquila Group, Switzerland’s largest independent asset management group. Von Greyerz makes regular media appearances on CNBC, BBC, etc. and publishes articles on the world economy and wealth preservation.

  Crypto, gold, precious metals