Monday, November 30, 2020

Tag: BANK ASSETS ARE EPHEMERAL – HERE TODAY GONE TOMORROW

BANK ASSETS ARE EPHEMERAL – HERE TODAY GONE TOMORROW

by Egon Von Greyerz, Gold Switzerland:
It is not only paper gold which is Fake. Few investors realise that most of their investments are Fake.

Fake news and Fake assets are everywhere. Let’s start with social media which dominates major parts of the world. Facebook for example has 2 billion active users. WhatsApp has 1.2 billion users and Instagram 700 million. There will obviously be quite a lot of overlap between the various social media. But what it is clear that these three Apps reach billions of people and their power is much bigger than that of any other media; Social Media has more impact than newspapers or than television and is the only media that 2-3 billion people follow regularly. Most people and in particular young people don’t watch television and don’t read the papers. They get all their “news” from social media.