With continued intervention and pressure in the gold and silver markets, today the 42-year market veteran who correctly predicted that the Fed would not taper spoke with King World News about exactly why the intervention is taking place in the metals markets, and the answer will surprise some readers. Below is what Egon von Greyerz, who is founder of Matterhorn Asset Management out of Switzerland, had to say in this fascinating interview.
Greyerz: “Eric, the United States government is clearly concerned about the state of the US economy and the trading action in the dollar. So time and time again they are doing what they can to smash the gold price. Today we saw a $25 drop within 60 seconds….
“Why are they doing this? Because gold measures the confidence, or lack thereof, in the government. Gold reveals the governments’ deceitful actions in destroying the value of paper money. So governments don’t want to see gold compete with fiat money because with gold as a competing currency, governments have lost control of the economy and the people.
Continue reading the Egon von Greyerz interview at KING WORLD NEWS