Billionaire Puts Half His Net Worth Into Gold

This does not bode well for economic stability when a billionaire dumps HALF of his fortune into gold since gold is the defensive hedge on keeping what you have.

I think it is time to start investing more into tangible necessities and do it quickly.


Billionaire Puts Half His Net Worth Into Gold
www.bloomberg.com...

Some big investors see warning signs ahead for markets but are holding their positions. 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.

“In the end you have China and they will not stop consuming. And people also tend to go to gold during crises and we are full of crises right now,”

You can't eat gold.
It has no use for building a structure.
It's just a shiny rare metal that works well as an electrical conductor.
It's a little pricey to use for bullets.
A hungry man would trade an ounce of gold for a chicken.

a reply to: infolurker

Just because he is a billionaire doesn't mean he is immune to fear and bs conspiracies.

a reply to: skunkape23

I disagree, but I have a ton of chickens, grow a crap ton of sorghum for sugar feed molasses etc...gold and silver will always be valuable...I mostly invest in lead these days.

a reply to: scraedtosleep

In related news:

GLOBAL DEBT BALLOONS TO ALL-TIME HIGH OF $164 TRILLION

www.rt.com...

The world is now 12 percent of GDP deeper in debt than it was at the peak of the financial crisis in 2009, says the International Monetary Fund (IMF). China was described as a “driving force” behind the new debt levels.
According to its Fiscal Monitor report, global debt is at a historical high, reaching the equivalent of 225 percent of GDP.

“One hundred and sixty-four trillion is a huge number,” said Vitor Gaspar, head of the IMF’s fiscal affairs department. “When we talk about the risks looming on the horizon, one of the risks has to do with the high level of public and private debt.”

originally posted by: skunkape23
You can't eat gold.
It has no use for building a structure.
It's just a shiny rare metal that works well as an electrical conductor.
It's a little pricey to use for bullets.
A hungry man would trade an ounce of gold for a chicken.

Oh, I agree....

When I say I am going to invest in tangible assets for "myself" I am referencing rice, beans, water storage, and brass.

a reply to: infolurker

than buy land with a spring, and poplar trees

economic data is very bad, Catapillar bad numbers, construction spending low, 15,000 less construction workers last month when the season is SUPPOSE to be taking off

record debt in Millennial's record student loans auto loan subprime, Ford closing shops, Subway closing stores

oh wait that's all because of Amazon my bad

a reply to: infolurker

Ile be more impressed when billionaires donate half their net worth to ending world hunger and poverty.

a reply to: BlueJacket

you don't buy land when the Fed is printing money you buy land when itnerest rates are high because less people can afford to get into the market, you sell when the Fed is printing money, then move into the stock market to catch the bull market run that comes from all the money being pumped into the market

after that you buy back into gold/ real estate

it's a simple investment strategy and it works like a charm if you have enough liquid capital and buy/ sell at the right times

just watch what the fed is doing

a reply to: infolurker

He is also Egyptian. They have their country and their region to be concerned about.

I'm not saying America doesn't have anything to worry about.... Just maybe the time indicators are blinking red for him sooner.

a reply to: andy06shake

Ile be more impressed when billionaires donate half their net worth to ending world hunger and poverty.

So Bill Gates?

originally posted by: andy06shake
a reply to: infolurker

Ile be more impressed when billionaires donate half their net worth to ending world hunger and poverty.

Ha, it will be a cold day in hell before that happens.

a reply to: infolurker

Personally, I think gold is still a little overvalued.

Silver is right at its 10 year low, gold is close as well, but there is more potential on the upside for silver. imho

His name "Sawiris" sounds like broken English for "Soros" !!

NWO a-go-go

😎

I've been considering the same plus some silver.
We're kind of overdue for a crash of fiat currency.

a reply to: CriticalStinker

Billionaires as in the plural.

Think what could be achieved in a decade alone should the real players and money Men donate half there spondoolies to a unified cause other than profit, power, and control?

Not because of taxation, not because "they" were made to, but because "they" choose to do so.

Such a scheme could serve to introduce a whole new paradigm to humanity, enabling us to address the real problems our species face as a race.

Next thing you know ICBM and standing armies are a thing of the past, we manage to conquer, industrialize and commercialize low Earth orbit. Build a base on the Moon and be on our way to exploring Mars and the outer moons and planets.

Then again chance would be a fine thing indeed.

a reply to: hopenotfeariswhatweneed

True but shameful considering whats at stake.

a reply to: jadedANDcynical

How can be over valued when the dollar has been losing value?

If anything that means ita under performing

a reply to: infolurker

And he used the other half to hire the army to protect his vault.