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The latest issue of The EDGE provided me with much food for thought. However, the article on buying physical silver ended with a paragraph which if ingested might require us to take some digestive enzymes.
"There's going to be another big crash, we are really near it now," said Chin Kuan Yew, a businessman ... who sold all his properties, including his condominium, to buy more metal. "You have on the one hand the US printing money and the European Union is on the brink of collapse."
Although I advocate that all who can afford to do so should have 5% of their wealth in physical gold and silver as a form of insurance against the inherent flaws of fiat currencies, I feel that Mr. Chin is being somewhat extreme.
Selling his properties could be a good move because with the ongoing aggressive building, it is more likely than not that we would see a situation of oversupply in Singapore in the coming years which would mean lower rental rates and lower property prices.
Having most of his wealth in precious metals, however, smells of paranoia.
Related posts:
1. Gold and silver: Still important assets to own.
2. Never lose money in real estate and REITs?
3. Buy gold and silver as insurance.
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