HOW TO BE RICH; HARD ASSET UPDATE

 

It'a no secret that the rich are buying up hard assets.  But the levels to which they must now bid to gain their coveted treasures are eye opening.  Some recent purchases:

The legendary Ruby Slippers from The Wizard of Oz: Sold on Dec 7, 2024 for: $32,500,000.00

Citizen Kane (RKO, 1941), "Charles Foster Kane's" Practical Riding "Rosebud" Sled: Sold on Jul 16, 2025 for: $14,750,000.00

Action Comics #1 Kansas City Pedigree (DC, 1938) 

Sold on Apr 4, 2024 for: $6,000,000.00

2007-08 Upper Deck Exquisite Collection Dual Logoman Autographs Michael Jordan & Kobe Bryant  Sold on Aug 23, 2025 for: $12,932,000.00

Dmitry Muratov 2021 Nobel Peace Prize Medal...Sold on Jun 20, 2022 for: $103,500,000.00 

(now you know why politicians covet this prizE)

FD-26 Grateful Dead 1966 "Skeleton & Roses" First-Printing Avalon Ballroom Concert Poster Sold on Jul 12, 2025 for: $106,250.00

DECLARATION OF INDEPENDENCE]. Sold on Jul 8, 2023 for: $2,895,000.00

GOLD NEWS:

In the last weeks the US hit India with massive 50 percent tarrifs.  In response, the Reserve Bank of India (RBI) has reduced its holdings of U.S. Treasury bills while increasing its gold reserves. This strategic move is part of a broader global trend of central banks diversifying their foreign exchange reserves away from dollar-denominated assets

"Looks like we've lost India and Russia to deepest, darkest, China. May they have a long and prosperous future together!"  Truth social, Sept 6 2025

Is this policy or biproduct?

Who cares?

It means goods in the US are more expensive, margins for US corporations are 

depressed, growth slows.  And, as Jim Grant says in the Interest Rate Obverver: 

Jim Grant: A Multi-Decade Bond Bear Market Lies Ahead

You know who loves these economic conditions?  

GOLD!