This fascinating article came up while scouring the internet. I had no idea that private German holdings were so high.
“The results of the latest CFIN survey are also interesting in that they show that far more Germans invest and save in physical gold than invest in the stock market. That can be concluded based on a recent study by Deutsche Aktieninstitut (DAI), the German capital market industry group, which found that only 10.3 million Germans hold investment in shares or equity funds, which is far smaller than the 26 million Germans who, according to the CFIN survey, hold investments in gold bars or gold coins.”
Read the whole article here.
As an Austrian friend noted “When the politicians are stupid, the people must be smart.”