from kingworldnews.com:
Today Egon von Greyerz told King World News that “these are massive historic events we are witnessing.” Egon von Greyerz is founder and managing partner at Matterhorn Asset Management out of Switzerland. Von Greyerz also said, “investors need to be positioned for more chaos in the future.” But first, here is what Greyerz had to say about gold: “A lot of investors are nervous today, you can see that in the markets. But if you look at the gold market, for example, the fact that the gold price is down 17%, in terms of dollars, from the $1,920 level and down less than 10% in euro terms, we are still consolidating at a very high level.”
Egon von Greyerz continues:
“The 2008 correction lasted about the same amount of time, seven or eight months, but that correction was 30%. Stepping back and looking at this minor correction, in this massive uptrend, where gold has risen twelve consecutive years, this reaction barely registers on the longer-term chart.
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