WHY SOME THINK SILVER MAY HIT $150 Oz

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Today Egon von Greyerz told King World News that investors will now see a stunning 186% move in gold as the financial system begins to implode and silver heads to $150.  Here is what Greyerz, who is founder of Matterhorn Asset Management in Switzerland, had this to say:  “Eric, when we spoke last time I said that what’s happening in the US with the fiscal cliff is like rearranging the deck chairs on the Titanic.  The US is sinking with a yearly deficit of $1.5 trillion, and total liabilities, including unfunded liabilities, of over $7 trillion per year.”

HE CONTINUES

“But the fiscal cliff is just a minor issue which involves around $120 billion, at best, savings in a year.  The US didn’t even succeed in rearranging those little deck chairs because cost-cutting has been deferred.  I’m sure that in 60 days when this is brought up again they will not cut costs significantly because no one will accept cost cuts.

The politicians won’t accept it because it means they won’t be reelected.  And the people won’t accept it because they will be even worse off.  Just like we’ve seen in Europe, austerity won’t happen.  Therefore, the deficits will continue, and they will continue at an accelerated rate. 

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Greyerz also added:  “We have seen stock markets get a lift because of the so-called fiscal cliff agreement.  We could see global stock markets continue to rise based on optimism and additional QE.  But I think this is a final rise.  The danger is that investors will be sucked into this.  Thereafter, I expect a massive, long-term fall in global stock markets.”

Greyerz had this to say regarding gold and silver:  “Looking at gold, I was expecting a bottom for gold in the last week of December.  This has now happened in my view.  We’ve seen the bottom, and I now see the rise starting.  Interestingly, my friend Alf Field now confirms that the bottom is in.  He is still looking for this move to take gold to $4,500 and silver to $150.
 
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