The Texas University Endowment is storing $1 Billion in gold bars.
Gold bullion is a hedge against inflation. If you didn’t think inflation was about to be a problem, gold would be the worst thing to put your money in because the price of gold is at an all time high.
I think someone doesn’t believe the Fed’s claims about no inflation.
A lot of someones.
Hey, if I had a billion dollars, I’d rush out and buy $999 million worth of gold. (OK, maybe diversify with some silver. Hell, even copper’s a good bet. Not traditionally monetary, but plenty of foreseeable long-term demand…and _everything_ with intrinsic value tracks inflation eventually.) Especially if, like a university endowment, I had long-term (as in, beyond the foreseeable lifespan of my grandchildren) obligations I knew I’d have to pay for.
“I think someone doesn’t believe the Fed’s claims about no inflation.
A lot of someones.”
Yeah, like every American with a fully functional frontal lobe.