- Swiss Refiners Unable To Keep Up With Massive Gold Demand!
Today Egon von Greyerz told King World News that Swiss refiners are still unable to keep up with the massive global demand for physical gold. Greyerz stated that Swiss refiners are working 24 hours a day, 7 days a week, but simply can’t keep up with the massive orders for physical gold. Below is what Greyerz, who is founder of Matterhorn Asset Management out of Switzerland, had to say in this tremendous interview.
Greyerz: “Right now I’m looking at what’s happening in the US and Bernanke has been Chairman of the Fed for seven years and he’s been the most productive man in the history of the United States. During his reign the federal debt has gone from $7 trillion to $17 trillion. That’s up two and a half times.
But of course gold has continued to reflect the increase in debt and to reveal the destruction of paper money. So gold is also up two and a half times during the same period, and that’s with gold at $1,470 today, which is near the low corrective level….