from KingWorldNews:

Greyerz: “When some of us bought gold at around $300, we knew it was undervalued, and we did fear that deficits and money printing would continue and there would (eventually) be hyperinflation. But back then we had no idea when and how things would develop….

“Deficits continued and so did money printing. For example, Bernanke managed to more than double US debt from $8 trillion to $17 trillion during his reign. It took the US over 200 years to go from $0 to $8 trillion in borrowings, and Bernanke created $9 trillion in just 8 years.

In 2008 we had the first confirmation that the financial system was bankrupt. And since then money printing and debt creation have been exponential worldwide. This is why, Eric, I consider gold being as good a buy today as it was at $300, because today we know that the financial system is bankrupt and that most governments are bankrupt. There is absolutely no solution to this problem.

Egon von Greyerz Continues @ KingWorldNews.com