It’s funny that you can’t hardly give away gold or silver in the U.S. or Europe – you know, the nations that are completely broke and need to preserve their wealth, while at the exact same time the people that are moving up the wealth ladder, China, Russia and India, are all acquiring gold and silver by the handful. What does that tell you about wealth preservation?
China seems to have recovered its appetite for gold, with demand for bars and jewellery markedly increasing in the first nine months of the year, data from the China Gold Association shows. — Mining.com
…This massive increase in physical gold demand is in light of China announcing a 10% decrease in gold mine production!
PG View: While I think that first sentence is an overstatement of the reality (see German investors rush to buy gold), Hall raises a very good question. Americans and Europeans really do need to be more concerned about wealth preservation. No asset class fills that role better than physical gold in your possession.