https://finance.yahoo.com/news/sam-zell-buys-gold-inflation-161022320.html
(Bloomberg) -- Billionaire investor Sam Zell is seeing inflation everywhere, and has bought gold as a hedge -- something he says he used to knock others for do...
https://www.bloomberg.com/news/articles/2021-05-04/sam-zell-buys-gold-with-inflation-reminiscent-of-the-1970s
Billionaire investor Sam Zell is seeing inflation everywhere, and has bought gold as a hedge -- something he says he used to knock others for doing.
“Obviously one of the natural reactions is to buy gold,” he said in a Bloomberg Television interview. “It feels very funny because I’ve spent my career talking about why would you want to own gold? It has no income, it costs to store. And yet, when you see the debasement of the currency, you say, what am I going to hold on to?”
Zell, 79, said he’s concerned not only about the U.S. dollar but other countries printing money as well, and questioned whether inflation will be transitory, as Federal Reserve Chairman Jerome Powell indicated last week.
“Oh boy, we’re seeing it all over the place,” Zell said of inflation. “You read about lumber prices, but we’re seeing it in all of our businesses. The obvious bottlenecks in the supply chain arena are pushing up prices. It’s very reminiscent of the ‘70s.”
While gold is an attractive investment, opportunities in fossil fuels are not, said Zell, who in 2019 agreed to set up a joint venture with Tom Barrack Jr.’s Colony Capital Inc. to invest in oil and gas.
“Right now, oil and gas is not priced to reflect the risk of what’s going on, whether it be in the EV world, a climate changed world,” he said. “As recently as a couple of years ago I thought the risk-reward ratio was appropriate. It’s clearly become very inappropriate as our political situation has changed.”
Zell also said he’s concerned about renewable energy undermining the reliability of power grids, pointing to the recent blackouts in California and Texas.
In real estate, there are plenty of questions about what demand will look like over the next couple years in the office, lodging and retail sectors, Zell also said in the interview.
“Everybody’s worried about going back to work and office-space occupancy. I don’t think that’s really an issue,” he said. “The problem is that, before the pandemic, we were dealing with an oversupply of office space. Obviously the pandemic hasn’t reduced that oversupply and has probably encouraged it accordingly.”
Stores also present challenges, he said, given that the U.S. already had more retail space per person than the rest of the world before Covid-19, and shoppers increased their reliance on e-commerce while stuck at home during the pandemic.
“Street retail t
... keep reading on reddit ➡IFinancial writer John Rubino says there is no easy way out for the financial and political mess the United States has created for itself.

Ahmaud Arbery's Killers To Appear In Federal Court
Ahmaud Arbery's Killers To Appear In Federal Court
Rubino starts with the economic problems and explains, “Now, inflation is starting to spread..."
"Look at lumber. If you are trying to build a house, it’s $35,000 more now than it was two years ago just because of lumber. Iron ore, house prices, grains, food and you name it, we’ve got inflation going on. At the same time, we have an apparent labor shortage. All these companies are coming out and saying we would love to take on all the business we are being offered to us, but we don’t have enough people. Even Uber and Lyft cannot find enough drivers. It’s weird it is happening this soon, but we should not be surprised since we dumped tens of trillions of dollars into the economy over the past year. This is what you would expect if you get the money supply going up 30% or 40%, which it did. This is what you get. The economy overheats. Now, we are confronted with the nightmare scenario in a fiat currency system. Inflation starts to pick up, which it is. That sends interest rates higher, which is happening. That threatens all the heavily indebted people out there because as rates go up, their costs rise. Then they go bankrupt in increasing numbers, and the system collapses. We are in the early stages in that kind of a process, and I don’t think anybody knows what to do about it.”
It seems Sam Zell knows what to do. Who is Sam Zell? Rubino says, “Well, Sam Zell is one of the biggest real estate investors in the world. The guy has a history of being right at the big turning points..."
" He will build a massive commercial real estate empire with billions and billions of dollars of offices and shopping malls and stuff like that. Then towards the end of the cycle, he will start selling. He will basically get out at the peak of the market. Then the market tanks, and he buys back in. So, he’s a really good indicator of where the economy is going because he has such a history of being right. So, now, the guy is buying gold. I think this is the first time I have ever heard of him doing that. He usually just sells his real estate and goes to cash. Now, he’s selling out of some of his real estate, and instead of putting it into a bank, he’s buying gold with it. This is a good sign from a smart
... keep reading on reddit ➡
https://www.youtube.com/watch?v=Bf1xkIuys6c
There no one smarter......this will help silver
Talking about the dollars erosion as the worlds reserve currency. When you look at Musk’s big announcement yesterday that Tesla will take Bitcoin as payment and hold some of their cash in Bitcoin.
The confidence around the dollar is starting to crack.
Is anybody following this spac by Sam Zell?
"The company is led by Chairman Sam Zell, the founder and Chairman of Equity Group Investments; CEO and Director Bill Galvin, the former CEO of Anixter; and CFO Philip Tinkler, the CFO of Equity Group Investments. The company plans to target a business in North America in the industrial sector with an enterprise valuation between $1 billion to $1.5 billion".
Given his track record of success in private equity including real estate, energy, and healthcare, he would seem to have the connections and insight knowledge to find a great company to merge with.
He also says he thinks too many people expect a V type recovery and points out the challenges regarding going back to normal, and predicts that people will be emotionally scarred as a result of the pandemic. I am a little disappointed he doesn't mention the ginormous amounts of QE as a potential driver for asset prices in this clip.
Who is Sam Zell? Rubino says, “Well, Sam Zell is one of the biggest real estate investors in the world. The guy has a history of being right at the big turning points..."
>" He will build a massive commercial real estate empire with billions and billions of dollars of offices and shopping malls and stuff like that. Then towards the end of the cycle, he will start selling. He will basically get out at the peak of the market. Then the market tanks, and he buys back in. So, he’s a really good indicator of where the economy is going because he has such a history of being right. So, now, the guy is buying gold. I think this is the first time I have ever heard of him doing that. He usually just sells his real estate and goes to cash. Now, he’s selling out of some of his real estate, and instead of putting it into a bank, he’s buying gold with it. This is a good sign from a smart guy...This guy is right so frequently, the fact that he is buying gold is a really good gold buying signal.”
Rubino goes on to warn, “I think the next stage in the market psychology is when people figure out there is no adult supervision left in these markets..."
>" Daddy is not going to come home and fix this. We are at the point where there are no solutions, and that’s when things spin out of control...
The Mad Max scenario is the extreme end of the spectrum of possibilities, but there can be political and financial chaos where something like the Great Depression or something like the Weimar Germany hyperinflation becomes a real possibility...
This is beyond the ability of any individual to fix. We can’t save the system.”
(Bloomberg) -- Billionaire investor Sam Zell is seeing inflation everywhere, and has bought gold as a hedge -- something he says he used to knock others for doing.
“Obviously one of the natural reactions is to buy gold, he said in a Bloomberg Television interview. “It feels very funny because I’ve spent my career talking about why would you want to own gold? It has no income, it costs to store. And yet, when you see the debasement of the currency, you say, what am I going to hold on to?”
Zell, 79, said he’s concerned not only about the U.S. dollar but other countries printing money as well, and questioned whether inflation will be transitory, as Federal Reserve Chairman Jerome Powell indicated last week.
https://www.bnnbloomberg.ca/sam-zell-buys-gold-with-inflation-reminiscent-of-the-1970s-1.1599041
How long can the Fed keep lying about low inflation when all these billionaires keep calling them out on it? When are we going to see whales quietly buying up precious metals to shield their wealth from a dollar collapse?
Billionaire investor Sam Zell is seeing inflation everywhere, and has bought gold as a hedge -- something he says he used to knock others for doing.
“Obviously one of the natural reactions is to buy gold, he said in a Bloomberg Television interview. “It feels very funny because I’ve spent my career talking about why would you want to own gold? It has no income, it costs to store. And yet, when you see the debasement of the currency, you say, what am I going to hold on to?”
This will help us on the Silver too.....He is worth Billions and very smart
>"Obviously one of the natural reactions is to buy gold...It feels very funny because I’ve spent my career talking about why would you want to own gold? It has no income, it costs to store. And yet, when you see the debasement of the currency, you say, what am I going to hold on to?"
Continuing on this theme, the 79-year-old Zell says he's also concerned about the dollar, and other currencies as well as countries print money like the US. He also questioned whether inflation will be transitory, as Powell and others - though not Treasury Secretary Janet Yellen - have insisted.
As far as where inflationary pressures are most evident, Zell said inflation can be seen "all over the place".
>"Oh boy, we’re seeing it all over the place," Zell said. "You read about lumber prices, but we’re seeing it in all of our businesses. The obvious bottlenecks in the supply chain arena are pushing up prices. It’s very reminiscent of the ‘70s."
