by Egon Von Greyerz, Gold Switzerland:
Investors may hope that the biggest financial experiment and debt bubble in history will last another 100 years. And they can pray that the currency system which has lost 98% of its value in the last 50 years will last another half century.
But that would be investing on a wing and a prayer with extremely poor odds of success.
Since neither the wing nor the prayer is likely to save investors from the greatest economic and financial collapse in global history, the need for protection or insurance is vital.