The wealthiest people on the planet are hoarding gold in secret bunkers. The strategic case for owning gold continues to remain strong, according to analysts at Goldman Sachs. They point to such factors as political uncertainty, recession fears, and other worries among the globes most wealthy people.
When the wealthiest are making plans, such as hoarding gold, it means we should all pay attention. The rich didn’t get that way by following the crowd. They paved their own way and have made money by beating the odds stacked against all of us. So, when they make major changes, such as storing physical gold, it bears noting.
Owning physical gold appears to be the best way to protect the personal wealth of those who have the most. Goldman Sachs says that the wealthy are using it as insurance to hedge against economic events that could occur on a global scale.
“Since the end of 2016 the implied build in non-transparent gold investment has been much larger than the build in visible gold ETFs (Exchange-traded funds),” Goldman said in a note sent to clients and seen by Yahoo Finance.
That simply means that for those including gold in their luxurious bunkers, demand for which has been growing at a fast pace, owning bullion is a must.
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Gary Lynch, the general manager of Texas-based Rising S Company, told CNN that 2016 sales for their custom high-end underground bunkers grew 700 percent compared to 2015, while overall sales have grown 300 percent since the November US presidential election alone. “Political risks, in our view, help explain this, because if an individual is trying to minimize the risks of sanctions or wealth taxes, then buying physical gold bars and storing them in a vault – where it is more difficult for governments to reach them – makes sense.”
Those people with higher net worth and more access to purchasing gold are making these decisions based on what they perceive to be happening in the broader economy and geopolitical landscape. As I’ve pointed out before, if the wealthy decide to do something in large numbers, maybe we should pay attention.
Gold will never be a poor investment or insurance policy. In fact, gold today can still buy what it would buy 100 years ago. The same cannot be said for the fiat currencies of the world. There’s a reason the world’s wealthiest are hoarding gold in bunkers where it’ll be incredibly difficult to get to.
Pay attention. If you want to be wealthy, and maintain that wealth, you should at least know what they are doing at any given time.
James Davis
FutureMoneyTrends.com
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