If you don’t own gold, you don’t know history!
In this panel discussion with the Council on Foreign Relations, American billionaire investor and hedge fund manager Raymond Dalio sums it up in a few words: "If you don’t own gold... there is no sensible reason other than you don’t know history or you don’t know the economics of it."
There is distinct sniggering, and even outright laughter in the audience, when Mr. Dalio mentions that he owns gold. He then goes on to explain why, in no uncertain terms. You’ll find that excerpt in the link below and if you have the time, the full interview is very much worth listening to as well.
Ray Dalio is an American businessman and founder of the investment firm Bridgewater Associates. He is known as perhaps one of the smartest fund managers in the world, with some $150+ Billion AUM for world governments, sovereign wealth funds, and some of the largest pension funds globally. In 2012, Dalio appeared on the annual Time 100 list of the 100 most influential people in the world.