When the Careful Money Moves
Sovereigns Are Rethinking Where Wealth Is Kept
The Dutch central bank just relocated 86 tonnes of gold out of North America, and Norway’s $2.3 trillion sovereign fund is proposing to trim roughly $80 billion in U.S. Treasuries. When the world’s most conservative investors reassess the concentration hiding inside “safe” assets, it’s worth understanding what genuine diversification actually requires.
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