The world’s wealthiest families are stockpiling cash as recession fears grow

Bloomberg/Suzanne Woolley and Benjamin Stupples

Image of stacks of Venezuela's hyperinflated currency“That view of the markets is shared by many of the 360 global single- and multi-family offices surveyed for the 2019 UBS Global Family Office Report, which was done in conjunction with Campden Research and released Monday. A majority expect the global economy to enter a recession by 2020, with the highest percentage of gloomy respondents in emerging markets. About 42% of family offices around the world are raising cash reserves.”

USAGOLD note:  Cash is the first move on the chessboard but what comes after that?  Gold is one option – especially if we take into account that many of the respondents to this survey live in emerging countries where the indigenous currency might be subject to rapid depreciation.

Repost from 9-24-2019

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