In this week's Off The Cuff podcast, Chris and Charles Hugh Smith discuss:
- What The Rich Are Worrying About
- Return 'of' capital, vs return 'on'
- The Future Of The Dollar & Gold
- Both are likely to rise materially over the next year
- Why Should We Fear Deflation?
- Most of us should welcome it
- Market Psychology Is Reversing
- Fear is starting to overwhelm greed
Over the past few weeks, Chris has been invited to several "high net worth" summits as a featured speaker. These gatherings have largely been for audiences of "family offices", where the 0.1% and their advisers meet to share knowledge and decide how best to preserve and growth their financial holdings.
Chris has enjoyed the insider's eye on what these uber-wealthy are pre-occupied with these days. And it's primarily: Holding on to what they have. There is little talk and appetite for the next "big thing". The rich are nervous. It's becoming harder and harder to make the returns on their financial assets that they've historically enjoyed. And they don't trust this market. They are fearful of a clearing event that could vaporize a painful amount of their net worth quickly:
They are concerned about bail-ins. They are concerned that there's nowhere to hide. They are concerned about tax compliance, where there are no jurisdictions — especially if you are in the US — where the Treasury Department is just making it increasingly difficult to be in compliance no matter how good you want to be about it, and leaving less and less places to go.
by adam-taggart-2 
