Time was, musicians and filmmakers could barely make rent. Now, they're following in the steps of billionaire hedge-fund managers like John Paulson and David Einhorn and buying gold bullion. "I expect gold to double. At least to double" as the government injects money into the system and inflation becomes more likely, a Brooklyn filmmaker awesomely named Adam Gold told WNYC.
Cris Rodriguez, on the other hand, does keep his gold nearby, at an undisclosed location. The 29-year-old NYU graduate, who works in music production, says every three months he scrapes together enough money to buy coins directly from gold dealers in Manhattan. "I don't have a tremendous amount of money to invest but I'd rather start off as a base owning the physical gold," Rodriguez says.
We've always been a little skeptical of the gold-bug argument — but on this level, it actually makes good sense. Not only can it be used as a hedge against inflation, you'll soon be able to use it to buy Panda Bear tickets and pounds of Stumptown.