MARK OLIARI, chief executive of CNT Inc., a Massachusetts coin broker.
"People are coming in to buy 50 or 100 coins at a time, which is pretty hefty for individuals. It's not just rich people, either. A lot of people are putting 30 to 35 percent of their net worth in gold, they are scared to put money in paper assets."
Wednesday, November 10, 2010
Who said Americans are stupid?
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2 comments:
I saw that on the NYTimes site this morning too....that's one of those issues where I hope I'm not on the wrong side of it....you know, like all of the paper money goes bust and I never "bought into" the gold bit. :^&
The current economic climate surely suggests that one would be better off investing in gold or other hard assets. The only caveat is I've seen these circumstances a number of times over the last 40 years. If history is any indication, the economy will continue to change. The smart money tries to adapt to what is going on at the time.
Speaking of smart money, every dollar that I've had was dumber than a pet rock.
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