One Billionaire Invests Half His Net Worth in Gold

[pmbug]

That's a lot of eggs in one basket...

... Egyptian billionaire Naguib Sawiris is taking action: He’s put half of his $5.7 billion net worth into gold.

He said in an interview Monday that he believes gold prices will rally further, reaching $1,800 per ounce from just above $1,300 now, while “overvalued” stock markets crash.
...

https://news.goldcore.com/us/gold-b...d-one-billionaire-invests-half-his-net-worth/

 

[rblong2us]

and Jim Rickards reckons Trump will have to reboot the US$ and back it with gold pretty soon. Jim thinks $10 000 per troy oz is the magic number ..........

I like Jims thinking (-: I reckon Naguib is being a bit pessimistic

 

[rblong2us]

another Jim speculating about the number of computer engineers working for Goldman and possibly getting ready for a reboot.

https://www.silverdoctors.com/headl..._campaign=Feed:+Silverdoctors+(SilverDoctors)

If such a thing is planned, I wonder how far this info would need to go / actually go and what preparations would be needed ?


and blow me down, heres yet another Jim talking about a reboot / reset -

https://www.silverdoctors.com/gold/...ts-not-fantasy-but-very-real-and-in-progress/

 

[pmbug]

Jim Willie is a human alarm claxon and he's been sounding dire warnings for so long he's like the boy who cried wolf.

Sinclair makes an interesting observation, but his conclusions don't necessarily follow. That Goldman wants to maintain dominance in the digital age doesn't necessarily imply that there is a high level plan in place for a reboot. Maybe they are seizing on lack of a plan with a Field of Dream scenario - if we build it, they will come - but that doesn't sound like a solid business decision.

I'm skeptical of a planned reboot. I think (western) TPTB want to maintain the status quo as much as possible.

 

[BigJim]

He really bought the dip....

 

[MarcLacroix]

Yeah, 50% of assets in gold is a bit aggressive.
Must be a risk/reward thing...

My investable net worth allocation is:
38% Cash yielding 1.75%
44% PHYS
18% PSLV

So if the dollar goes to 0 I won't be SOL.

Marc

 

[rblong2us]

Hi Dumballdore
Yes anyone can claim anything when it comes to predictions and projecting trends has often been the basis for prediction.
The charts only reliably show us what has happened in the past though.

As for proof, I guess we have to trawl through old predictions to see who got it right
and perhaps learn from them why/how they did.

A lot of us old time bugs used to swear by the correlation between the $ price of gold and the issuance of $ 's ie US Debt, to predict POG. This correlation broke in 2011 and many think it will reconnect once true price discovery is allowed.

As for McAfee's predickshun, theres still plenty of time (-:

 

[singleshot]

I think Ron Paul and Peter Schiff, among others, were warning of this for quite a while.

 

[MarcLacroix]

Was listening to 'Jesus Radio' the other day and some lady said her husband put 90% of their money into gold.
Sort of a 'Hail Mary' wager I guess.

Marc

 

[pmbug]

Damn. I'm not that brave (or rich - living off 10% of all my money wouldn't be pretty).

 

[MarcLacroix]

Damn. I'm not that brave.

This guy has got to be a believer to do a 'Leap of Faith' like that.
Is he crazy or does he know something we don't?

Marc

 

[rblong2us]

heh

I did it in September 2011 ...........
sold the house, took my half and shared it between bullionvault and goldmoney in Zurich.

Think they have probably done ok though )-:

But I sleep easy knowing that its NOT in banks or paper investments (-:

And its there if / when I need it.
In the mean time, I have learnt that I do not need it and am quite detached from it.

So leap of faith, crazy or something else ?

oh and I'm living off free money from the Gov ! For as long as I want it .......

 

[singleshot]

Free money from the government? I'm skeptical but tell me more.

 

[rblong2us]

you spend 45 years mostly working to pay for property and raising family, and paying banks and Gov for the privilege and suddenly one fine day it all changes.

The property loans get paid off the kids are grown up and independent

and now its the Govs turn to pay me as I'm officially 'worn out' but did my bit as a slave to the system.

They call it pension and its more than enough for my needs, as my needs are pretty minimal (-:

 

[singleshot]

you spend 45 years mostly working to pay for property and raising family, and paying banks and Gov for the privilege and suddenly one fine day it all changes.

The property loans get paid off the kids are grown up and independent

and now its the Govs turn to pay me as I'm officially 'worn out' but did my bit as a slave to the system.

They call it pension and its more than enough for my needs, as my needs are pretty minimal (-:

That's what I thought you meant but I wouldn't call it free.