[LRoggy]

Here's the last paragraph from his August 2010 ZeroHedge interview: .There has probably never been a period in world history which has caused the amount of wealth destruction that we are likely to see in the next few years.. If we are correct in our assumption that the West will see a correction of the excesses of the last circa 40 years but more probably of the last 200 years, since the start of the industrial revolution, we could see a total annihilation of the assets that have been fuelled by the credit bubbles. The spike in asset values in the last 100 years, which is unprecedented in history, is likely to be corrected by a waterfall which could start at any time.

We will issue a separate report in the next 10 days covering our market predictions and the importance of physical gold for wealth preservation purposes.

16th August

Egon von Greyerz

On 8/16/10 the gold price was around the $120 range on the SPDR Gold Trust and the S&P was around 1100. Today, nearly four years later, the SPDR Gold Trust is near 125 and the S&P is nearing 2,000.

That's more settled science than Al Gore's BS. Even CASH has beaten the SPDR Gold Trust since his 2010 prediction.

Unlike most of the posters on FR I actually am a money manager professionally, I can't hide behind incorrect predictions like these or I wouldn't have any clients left.

[Obadiah]

Appreciate your input. I must say, anytime I see a goldbug, my skepticism meter starts pinging. What is fact, however, is that under Obama debt has increased well beyond the point of no return.

[reed13k]

Just cause I don’t know - how can cash which has experienced inflation perform better than the gold numbers you indicated which are 125 vs 100?

My inflation measurement is based on basic goods which are more than twice the price they were in 2000, and since 2010 have seen price increases of more than 25%.

Are you saying that cash has earned higher interest rates than the increase in gold has provided? Neither of them have held up with the inflationary pricing on basic goods, but gold has been much closer as the 125/100 is a 25% increase over 4 years which is about 6%/year whereas most savings accounts and CDs have been less than 3% APR from what I’ve seen.

So what are you basing that cash vs SPDR trust comparison on? I’m not invested in SPDR GOLD and only hold a small amount of metals - but open to learning.