MoneyWeek/Dominic Frisby/8-2-2022
“Investment bankers’ buying of coins and bars has increased by a – quite astounding, in my view – 59% over the past four weeksI have to say, the implications of a 59% jump in investment bankers buying gold for their personal portfolios has some alarm bells ringing. What’s going on at the banks? Are there problems looming? What do they know that we don’t? Something similar was going in the lead up to the Lehman crisis.”
USAGOLD note: Dominic Frisby reports that over the past two weeks two professional groups in the United Kingdom have emerged as top buyers of gold and silver: doctors and investment bankers. The investment bankers, as indicated above, are worried about systemic risks – the sequel to the Great Financial Crisis. The doctors, he says, have seen the value of their retirement accounts “fall quite dramatically” in recent months and are turning to the metals as alternatives. His full account is highly recommended at the MoneyWeek link above.……
