The 15,000% Return Fallacy

The 15,000% Return Fallacy

105 Years of Illusions

Gold has increased 15,000% since 1920—on paper. But this is a fallacy. Gold buys the same amount today as it did 2,000 years ago—a quality suit, for example. The illusion is not in gold rising, but in the dollar collapsing.

In this powerful and sobering analysis, Egon von Greyerz lays bare the illusion of rising gold prices. What appears to be a dramatic increase in gold's value is in fact:

The collapse of fiat currencies.

Gold has not appreciated—it has merely preserved purchasing power as government currencies have systematically eroded. Drawing from over a century of economic history, von Greyerz dissects the death of money, the illusion of growth, and the impending collapse of the current financial system.

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