The Wealthy Flee Paper Currencies
from Eric King at King World News
The wealthy are on a buying spree. Their goal is to lessen their exposure to paper currencies. From Richard Russell’s piece, “I watch the jewelry auctions, and I subscribe to the Sotheby’s and Christie’s catalogues. Prices for top-grade gems are going through the roof. I was talking to a jeweler friend yesterday who just returned from a Sotheby’s auction. He said he couldn’t believe the prices that some of the jewelry was going for. One diamond that he expected to be able to buy for $200,000 went for $950,000. He said he was staggered by the prices. “ April 27, 2010

I interviewed Henri Barguirdjian President and CEO of GRAFF the largest fine jeweler in the world and Henri talked at length about what the wealthy are doing with their money. He also discussed their growing fear of paper assets and currencies. Here is a link to the interview:

GRAFF CEO Interview on King World News