Today Egon von Greyerz told King World News that Swiss refiners are “working round the clock because demand for gold is so massive.” Egon von Greyerz is founder and managing partner at Matterhorn Asset Management out of Switzerland. Von Greyerz also said the financial world is headed into trouble that will be much worse than 2008. But first, here is what Greyerz had to say about Swiss refiners: “The gold market may appear quiet right now, but underneath the quiet there is a great deal of action in the physical market. Swiss refiners are telling me they are working ‘round the clock’ because demand for gold is so massive.”
Egon von Greyerz continues:
“At the same time, we are reading that a number of central banks are buying gold. So the nonsense coming from the mainstream media that people are not interested in gold is completely false. We are seeing massive accumulation of physical gold. This decline today is clearly only in the paper market.
Once people wake up to the fact that the paper market is not even a real market, meaning it’s a false market that can never deliver the real goods, once investors realize this, that is when people will really panic….