From Jim Rickards – Port Phillip Insider (Australia) –
I (Shae Russell) was up late on Saturday night, surrounded by a bunch of snowboarders catching the final days of the Australian ski season.
It was the usual end of day chitchat…who was a first timer, who landed their first jump, who stacked the hardest, and who nailed that elusive backwards flip.
After reliving the glory — or in my case, just being grateful that I made it down the mountain with some grace — the room full of strangers started getting to know one another.
Years on the mountain have taught me that there’s not one type of powder hound. Sure, there are the perennial ski bums. Among others in this room was a chemist, an engineer, a former banker and…me. Once the talk turned to careers, where I revealed my profession, a young kid asked what stocks he should invest some cash he recently inherited.
Shortly after I asked this kid whether he considered investing a small amount in physical gold, the former banker wanted to know why another would bother owning physical gold.