The billionaires’ aid or trade essay for pakistan hoard is roughly the size of Brazil’s gross domestic product, CNBC reported. A GDP is a measure of the value of all the goods and services sold in a nation. Brazil has a population of around 200 million people.
Average people should be concerned when the wealthy hoard cash, because it means that the super-rich think assets such as stocks, bonds, precious metals and real estate are about to lose value. They want to protect their wealth, and be in a position to snap up bargains when the market hits bottom.
Warren Buffett made most of his $66.4 billion fortune by buying up low-priced stocks during the economic crises of the 1970s and in 2008. Many other billionaires did the same.
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