Egon von Greyerz: Inflation is Rising, Professionals Are Increasingly Buying Precious Metals!

• Investor Talk
  The highly acclaimed crypto market is undergoing a harsh correction, painfully demonstrating how quickly governments can put this asset class in distress. Not for wealth preservation. 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. 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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  0:00 Intro
  1:50 Crypto – What rises fast, falls even faster
  2:15 Turning $1000 into $800 million?
  3:00 A fabulous investment for some, but not suitable for wealth preservation
  4:15 Governments are dangerous to crypto and may ban it
  4:50 US consumer prices rising at just over 6% annual rate
  6:00 Money velocity is increasing, creating inflation
  7:00 Relatively speaking, the euro looks strong against the dollar
  7:50 According to Goldman Sachs, inflation will fall soon
  8:50 Part of inflation is due to (artificial) scarcity
  9:50 Short-term effects will disappear, long-term inflation will rise
  10:45 Germany’s Q1 GDP falls, while many price rise. Stagflation?
  11:30 Long term C19 effects will weaken economies (GDP)
  12:30 More institutions get in, e.g. DSM pension fund at 5%
  13:30 Ohio police and fire fund also already invested in gold
  14:00 Most pension funds are buying ETF’s because they don’t see the systemic risk
  14:50 If they invest in physical gold in their own name, there will not be enough gold
  16:00 $5,000 – $10,000 gold is realistic
  16:50 Clauses in ETF sales prospectuses kick in during financial emergencies
  17:50 Perth Mint highlights the problem with paper certificates
  18:30 Trust the precious metal you hold yourself and what you have access to

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