by James Rickards
In my ZIP code of Darien, Connecticut, it’s not unusual to bump into a billionaire every now and then.
When I ask what they own, they’ll start to list stocks and bonds of various types. At that point in the conversation, I’ll interrupt and say, “You don’t own stocks; you own electrons.”
Most wealth today is in digital form recorded on hard drives and transferred through routers and servers in dispersed locations. What if those servers were hacked and your electronic wealth were erased? Where would you go to get it back?
If you think this can’t happen, guess again.