“The Pacific Group Ltd., founded by a former PaineWebber Inc. trader, is converting one-third of its hedge-fund assets into physical gold, betting that prices will go up as governments print more money to pay off debt. The Hong Kong-based asset manager plans to take delivery of $35 million worth of gold bars that can be traded on the London Bullion Market Association and other international markets, William Kaye, its founder and chief investment officer, said in a telephone interview on Jan. 18. It has secured vault space at Hong Kong International Airport to store the gold, he said.”
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Tip Freedomwat.ch Staff with Bitcoin
Related posts:
Tax havens explained: How the rich hide money
Police shoot teen skipping school assuming he was burglar
Why More Retailers Are Accepting Bitcoin
Turkish court gives go-ahead to demolish Gezi Park
Swiss solar-powered plane to make first cross-US flight
Local courts reviving 'debtors' prison' for overdue fines, fees
Turkish court imprisons dozens over alleged ‘plot’ to overthrow government
Judge halts Indiana city's code-enforcement property seizure racket
The Beginnings of a Chinese Banking Crisis?
Authoritarian regimes use Silicon Valley software to censor Internet
Michigan governor appoints technocrat to run Detroit
Secretive DEA unit told to cover-up massive spy program used to investigate Americans
The smoking ban killed the British pub: Labour's defining legacy
U.S. withdraws Bangladesh trade 'privileges' over worker safety
Venezuela's poor sour on Maduro as prices, shortages sting