I was talking to one of my interpreters in Afghanistan one day and the conversation went to investments. I told him that I purchase gold and silver. He was very interested and said that his dad did the same thing. I asked him how much gold his dad had. He told me about 10 ounces.
Do you think the average American has $15K - $20K in precious metals or savings? Mind you, this guy lives in effing Afghanistan!
If you’d been in India, Pakistan, Bangladesh or any random Arab sheikdom, it’d been pounds, not ounces.
Do you think the average American has $15K - $20K in precious metals or savings? Mind you, this guy lives in effing Afghanistan!
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The average middle class American does not have access to the graft that this man and most of our ruling class does.
Also in third world countries people tend to put their money into portable assets. Most of the middle class would convert their current assets into much more than 15k of gold.