Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
goldcore.com / By Mark O’Byrne / March 16, 2016
The world’s largest reinsurer, German reinsurer Munich Re is boosting its gold reserves and buying gold in the face of the punishing negative interest rates from the European Central Bank, it announced today.
As reported by Thomson Reuters this afternoon:
German reinsurer Munich Re is boosting its gold and cash reserves in the face of the punishing negative interest rates from the European Central Bank, it said on Wednesday.
The world’s largest reinsurer is far from alone in seeking alternative investment strategies to counter the near-zero or negative interest rates that reduce the income insurers require to pay out on policies.
Munich Re has held gold in its coffers for some time and recently added a cash sum in the two-digit million euros, Chief Executive Nikolaus von Bomhard told a news conference.
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Thanks to BrotherJohnF