Billionaire Canadian investor: In times like these, look to gold, rare art and select real estate for capital preservation.
Published in December 9, 2011on
Gold, energy and movies. With precision timing. "That's how you become a billionaire," David Galland, managing director of Casey Research, said of Giustra's career.
Casey Research chairman Mr. Doug Casey once told your author, "Frank Giustra is a genius. Actually a genius." And he looked at me in the eye to make sure I understood. President Clinton is obviously fond of him as well. The pair have a history well known to the media.
Giustra rarely speaks out publicly, but when he does, we at Cambridge House listen. In 2002, Mr. Giustra published “A Tarnished Dollar Will Put the Shine on Gold,” making his case for a coming gold bull market. Gold did indeed shine and is up nearly 500% since then.
In his contribution to the Sun, Mr. Giustra outlines his belief that the debt situation in Europe and the U.S. is out of control and inevitably, central banks will resort to inflation -- printing money -- to cure their financial ills.
As we all know from history, printing money only leads to the devaluation of currency. Therefore, Mr. Giustra says, precious metals, select real estate, and collectible art will be the only safe havens for investors to protect from what he calls, “STDs (saving’s total destruction).”
But read it for yourself. Here is Mr. Giustra’s post, “We’ve been down this path before.” We highly recommend you read it, tweet it, and govern yourself accordingly.