As central banks have reportedly bought the most gold since 1971 when the world was on a gold standard, what does this mean for the global financial and monetary systems? DOUBLE DOWN talks to Egon von Greyerz of GoldSwitzerland.com who believes that one day soon there won't be any gold to be had for any price. He notes that the gold buying is coming from central banks and citizens in the east, it is a continuation of the theme of gold heading east as fiat currencies continue their race to zero, a race the dollar will win. India, China, and Russia appear to be preparing their citizens for a world post-dollar (and fiat currencies in general) and he believes that China actually has much closer to 20,000 tons of gold than a mere 2,000. Egon suggests the currency grid reset is coming, the only question is how messy it gets, but one thing is certain: the one who has the gold will have the power. They also discuss property billionaire, Sam Zell, going long gold for the first time in his 77 years. Egon says $1350 is the Maginot Line of the gold price and it could rise very rapidly above there. Hang on to your hats! Tune in to hear more.
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