Friday, May 14, 2010

Gold And...Monaco Real Estate

From Marketwatch's Market Junkie blog comes this suggestion: the same forces pushing up gold also tend to push up silver, platinum, diamonds...and real estate in tax havens. Given the underlying conditions behind gold's overall rise,
government debt levels in the U.S., United Kingdom and Europe will lead to higher taxes, meaning deep-pocketed people might flock to Monaco and the Channel Islands. Even though Americans need to pay taxes wherever they live, [BNY ConvergEx group’s chief strategist Nicholas] Colas says he suspects "Monte Carlo real estate agents are going to have a very, very good year."

Funny that Switzerland wasn't mentioned...

1 comment:

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