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Palantir Buys Gold Bars as Hedge Against ‘Black Swan Event’
- greyface- 5y ago5 days ago, 74 comments https://news.ycombinator.com/item?id=28213727 https://news.ycombinator.com/item?id=28213727
- cblconfederate 5y agoBut Palantir's business is spying, so if a Black swan event blocks them from spying, how is gold going to save them?
- cyberge99 5y agoIt protects their balance sheet / investors by providing risk mitigation via hedged assets.
- cblconfederate 5y agocouldn't their investors buy gold directly?
- aoeusnth1 5y agoYes. It is only rational if Palintir has non-public information that predicts that gold is undervalued.
- cheaprentalyeti 5y agoThought for the day: they bought it all on the 12th. Since then, increased viruses, and the collapse of Afghanistan.
- etothepii 5y agoPerhaps given that Palantir's business is spying we should assume a gold hedgeable black swan event is coming.
- twox2 5y agoMeanwhile Visa buys a CryptoPunk https://www.forbes.com/sites/ninabambysheva/2021/08/23/visa-enters-metaverse-with-first-nft-purchase/?sh=7a2f46df68b3 https://www.forbes.com/sites/ninabambysheva/2021/08/23/visa-...
- jnsaff2 5y agoSo if I were Thiel, I'd totally have the company buy gold, then offer my NZ dungeon for safe storage (for a hefty fee, of course) and then whatever the event the dungeon was built for happens .. I guess there's noone there to collect the gold ...
- mach1ne 5y agoThe company is worth $45 billion and it buys $50 million of gold in a time when its business is booming. To me, this seems like nothing special. I guess people find it interesting mainly due to the company being at the crossroads of secret information.
- jacknews 5y agoGold tends to go up with inflation, but down with everything else in minor and financial panics - just look at the beginning of covid, or Sept 2008. And you don't need the gold bars in your vault when markets are relatively functional. This seems to be more a case of some preparedness against real extremes, like war with China, USD collapse, etc.