Smart Wealthy Money Seeking Storage Outside Banking System
Tuesday, 2 July 2013
“The time to buy is when there is blood in the streets” – Rothschild
Physical demand remains robust globally and especially in China where Reuters report “stock loading in the market and physical buying in Shanghai.”
There is also the interesting trend of many western banks, some who are making loud bearish noises in public, quietly moving to offer their high net worth client’s storage in Zurich, Singapore and Hong Kong.
Smart money is still accumulating physical gold and the banks know this and realise that in order to retain clients and income they must offer bullion services and storage outside the still fragile banking system.