Saturday, August 01, 2009

A simple question

All these bankers and investment houses jumping up and down on the bed until (inevitably it seems, one day) the springs break... where do they invest their own personal money? How do they hope not to share in the debacle, when it comes? Or is the strategy to become so obscenely rich that they can afford to lose 90% and still be rich?


James Higham said...

In Switzerland, in a numbered account.

Does this mean you're back? I ran a few economic posts recently which did not go down so well.

Sackerson said...

Hi James - yes, for a few days. Which posts?

OldSouth said...

Truly, a most relevant question.

Where do people who have no souls keep their stuff?

We'll know more as the details of Bernie Madoff's life become more public, and his personal assets are liquidated.

My guess--a mix of gold coins, high-grade precious stones(easy to transport and liquidate), a basket of currencies, some select real estate to which to retreat if things really go south, and of course, physical cash.

I suspect they live in a different world that runs by its own rules. It's up to us, poor schleps, to keep feeding their lifestyles, either by our work or our taxes.

Just a guess, though...

Sackerson said...

Thanks, OS, measurable predictions. Please remind me you were right when the results are in.