goldsilverworlds.com / By Gold Silver Worlds
Please explain why you decided to switch from a management position at Logitech to start a new career in the precious metals storage business.
The process started long before I actually entered this business. To be precise it started back in 2004 when I read the book “Gold Wars” by Ferdinand Lips. Even before that I was very much interested in history but I had no clue about monetary history. After reading Ferdinand’s book I got in touch with him and you can say that he became my mentor in the world of Austrian Economics. He pointed me to the direction of Wilhelm Röpke, Friedrich August von Hayek, Ludwig von Mises and many more. I started reading everything related to the Austrian School I could get my hands on. The more I read the more I realized that our world is in a period of transition. I am convinced especially the financial system is facing major changes. That’s why I started purchasing physical gold and silver and also invested my money in mining stocks back in 2004. Since then my goal was to work in the physical precious metals business with the aim to offer a solution which focuses on all aspects that I consider key when it comes to purchasing and storing gold and silver safely.
How do you see the current global economic environment?
We are living in an environment of increasingly radical government and central bank intervention. This leads to distorted market signals and makes short-term predictions extremely unpredictable. However, what can be said is that governments can’t create trillions of new currency units without consequences. Therefore I believe it is important to focus on the big picture and not get lost in the details. Debt is the biggest issue! The leading nations of the world such as the US, UK, European Union and Japan are facing the highest level of public debt in times of peace. In addition to these high levels of debt there are unfunded liabilities which are also exploding, the aging population and increasing unemployment. Our financial system is simply not sustainable. In such an insecure economic situation I am convinced that the preservation of ones wealth is key or as Mark Twain said “I am more concerned with the return of my money than the return on my money”. To sum it up, governments will likely further increase their interventions and might increase their measures of financial repression as described in our recent Global Gold Outlook Report.