The nation's second-biggest academic endowment fund just took physical delivery of $1 billion dollars worth of gold. That's 5% of the value of the fund.
And they don't trust the ETFs or COMEX futures.
If major institutions like this are starting to wake up to precious metals as an investment class, watch out! As we've pointed out before, there ain't that much gold to go around. Not everybody can get to a 5% weight in gold without gold being at multiples of its current price. Do you have your 5% yet?
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There are very few financial problems that can't be solved by a suitable application of asset bubbles.