Saturday, September 20, 2014

Last Of The More Obvious Indicators

Sort of like watching the ocean recede Waaaay out... just before the tsunami hits.

The super-rich are looking to protect their wealth through buying record numbers of "Italian job" style gold bars, according to bullion experts.
The number of 12.5kg gold bars being bought by wealthy customers has increased 243pc so far this year, when compared to the same period last year, said Rob Halliday-Stein founder of BullionByPost.
"These gold bars are usually stored in the vaults of central banks and are the same ones you see in the film 'The Italian Job'," added David Cousins, bullion executive from London based ATS Bullion.
The bars which are made from pure gold and are worth more than £300,000 each at today's prices of $1,223 (£760) an ounce. (From today's' Telegraph)

Yep... the super-rich are converting to gold. It doesn't take a rocket scientist to figure out why. Paper money everywhere is about to collapse.

 If all your financial reserves are in paper, good luck.

At least you won't have to buy toilet paper for years to come.


Galt-in-Da-Box said...

You go to the head of the class, Bob!

texlahoma said...

Yeah, I completely agree. I think paper currency has about one year before it's worthless.