Posted on 09/22/2014 4:15:05 PM PDT by SkyPilot
Billionaires are holding mountains of cash, offering the latest sign that the ultra-wealthy are nervous about putting more money into today's markets.
According to the new Billionaire Census from Wealth-X and UBS, the world's billionaires are holding an average of $600 million in cash each—greater than the gross domestic product of Dominica. That marks a jump of $60 million from a year ago and translates into billionaires' holding an average of 19 percent of their net worth in cash.
"This increased liquidity signals that many billionaires are keeping their money on the sidelines and waiting for the optimal moment to make further investments," the study said.
(Excerpt) Read more at cnbc.com ...
Really?
I believe in capitalism, but their "plight" does not compare to the million who were laid off and lost their jobs.
What's more, many wealthy families missed out on the big financial-market rallies in 2012 and 2013 and feel like they missed the best chance to invest.
Again, this Stock Market is nothing but hot air, created by Fed pumping. The Fed is now leveraged almost 80-1.
I feel like we are heading for an economic disaster of Biblical proportions.
Uhm...hording? I have about 25% of my net worth in cash. I have no idea what to invest it in. Am I hording? What should I do with it? Buy savings bonds? (Gag, choke!) Give it to President Obama, because, after all, at some point I’ve made enough?
I hoard canned beans, and they hoard millions of dollars of cash.
I agree - it used to called "savings."
I expect to hear terms like those from now on, especially if things collapse economically as many fear.
People will be accused by the Government and media of "hording" everything: gold, cash, food, ammunition, water, medicine......you name it.
Those who are "hording" will need to be "dealt with."
We have become the old Soviet Union.
I guess you could say we are “hoarding” cash, too. For the last several years we have made a habit to take everything smaller than a ten dollar bill out of our wallets. That goes into an envelope which we stash in our home safe.
When the envelope contains $100 we seal it up and start on the next one. You’d be surprised how much you can put away in just a few years.
It’s our SHTF cash stash.
Err, dude. Billionaires do that sort of thing. That’s why they’re billionaires.
I know....fine with me.
But it's another sign of fear, and there is a lot of it. Physical gold is also being bought up the super rich.
Most people don't become rich by being stupid (although some are simply ruthless and greedy). However, you read more and more headlines like this one, it is as if they know the storm is coming.
Only 19% of their net worth in cash? That is not very much at all given where the stock market is.
It’s all paper and its bleeding out fast.
The market is about to go POP!
Now if it were said that Michael Moore was hording calories or that Sheila Jackson Lee was hording ignorance that might make some sense, but still there is plenty of ignorance to go around - I mean look at MSNBC.
The market is about to go POP!
I can’t remember who said it, but he said it could POP sometime around Christmas.
You said it FRiend! it is called liquidity.
With ones and fives, your going to have a lot of paper. Sooner or later, I think that the US will need a denomination greater than $100 in circulation. But I doubt it with the move towards all digital transactions. The Swiss have a Sw Franc 1000 note which is worth around $1100. The €500 is worth around $700.
No one is hoarding anything. Hoarding implies storing more than can be considered as having a logical purpose..
It is called stockpiling for potential emergencies. Used to be everyone was recommended to have 6 months of living expenses in liquid savings if possible. The left now calls that hoarding, meaning that they (the government) would be justified in confiscating a portion and giving to someone that has not prepared.
This hoarding sh1t is just warming up the thinking of the takers into justifying mass confiscations of essentials during a downturn. It’s been done in this country before, but not on the scale for which we are being prepared.
My personal attitude is, if you think what *I* have earned and *saved* is worth dying for, then come take it....if you can.
I have about $200 in quarters in a plastic jar. If I can just save enough of them, I'll be one of those billionaires.........
I don’t blame them.
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