Loading ...Palentir – Very odd story
Palentir is a large data / spy company that is used by government agencies like the CIA, FBI and US army.
They also work for the biggest multi-national corporations.
It uses big data for predictive purposes.
Started by the same guy who started Paypal.
It is very profitable and has very deep ties at the highest levels of government.
Even if it did not have these ties, with their spy ware, they are privy to lots of secret info.
They have lots of cash and the owners decided to buy over $50 million in gold bars.
You don’t hear of a software/spyware business doing this kind of stuff.
You do hear these companies buy cryptos, but Palantir did not do that.
They bought gold because of a “potential black swan event”.
Who is Palentir?
This video gives you the background story on who they are.
These guys go deep.
Does this mean anything or am I simply looking too hard at a situation?
I do not know but it is very interesting and it has caught the attention of a lot of high-level investors.
Info was given to me by someone who got it from a friend who is a hedge fund manager in Chicago.
They are not gold bugs. They are asking questions.
I agree, Sir Rob Walnut, very very very odd to have a tech firm buy 50 million worth of gold bars when every talks crypto. This Thiel guy does not follow the herd, it seems.
Reposting my comment to Sir Kewl2 who also shared this news the other day on the Tent.
https://goldtadise.com/?p=505599#comment-89649
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I own some stock of Palantir (PLTR), it is underwater. But holding it for the long haul.
It is mostly a vote of confidence in their visionary founder, Peter Thiel.
Thiel’s buying of 50 million in gold bars is further evidence that rather than shun gold, some diversification of any corporation’s cash, even just as an inflation hedge, is justified. If not now, then when?
The only problem, or rather follow-through, I’d like to see is “when” they have the physical gold in their possession.
GL
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To that I’ll add and reiterate this again: we cannot time physical gold buying. Miners, may be. But not all of them.
GL
Thanks Sir Walnut
I was unaware of who these guys are
Basic common sense. Any company, institution and or individual who has money and only gets 1/4 of 1% or less interest in a bank, govt bond or money market account while inflation running between 5-10% can buy bitcoin as spec(might lose even more) or gold to protect those dollars from further deterioration!