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(12-28-2018 10:28 PM)The Father Wrote:  

(12-28-2018 08:23 AM)[email protected] Wrote:  

I'm much more certain about gold. When the rich get fearful and uncertain about the economy and their currency they hedge with gold. I think most people would acknowledge this.

The rich I know, when they feel the shit is hitting the fan, go into the following (in this order):

1) cash
2) swiss francs
3) Japanese yen
4) more cash
5) gold

I think the "rich go into gold" trope is an internet forum thing - young people talk about it but i don't actually know any wealthy people (and i know many) who put more than 5-10% of their capital in gold in even the worst of times. The ones I know (I spent many years on Wall St) put it into cash first and foremost, then a hodgepodge of other things named above. But probably 60% or more goes to cash.

I wrote this on the same page:

Quote:

I'm going to guess that something similar will happen again and in addition I think people will also throw more money into Bitcoin if they see a weak dollar. I noticed that in the last financial crisis rich people were spreading around their money into baskets of currencies (euro, yen, yuan, etc) and I'm speculating that Bitcoin and/or ethereum will part of that basket this time around.