David McAlvany: While Fed Hikes Rates More, Other Central Banks Buy Record Gold Tonnage In Q3 2022

Wall St. For Main St., Released on 11/2/22

Jason Burack of Wall St for Main St interviewed returning guest, 2nd generation money manager and the CEO of the McAlvany Group of companies https://mcalvanyica.com/, David McAlvany. McAlvany has been in the precious metals business for 50 years and they also have a money management firm for other assets.

Central banks buy record amount of gold in Q3 and large chunks are from unknown buyers: https://www.kitco.com/news/2022-11-01…

From the article:
“Gold purchases from central banks reached a record during the last quarter, revealed the World Gold Council’s quarterly report. But the caveat was that the big players remain anonymous. A total of nearly 400 tons was bought by central banks in the third quarter, the most on record. This also marked a 300% jump from the same period a year ago, the World Gold Council said in its Gold Demand Trends report released Tuesday. Year-to-date, central banks bought 673 tons, more than any other annual total since 1967.”

David McAlvany is a well-respected thought leader on the global economy and author of The Intentional Legacy, his thoughtful memoir and musings on the power of legacy, and what it means to create a meaningful family culture. McAlvany graduated from Biola, served as wealth manager at Morgan Stanley, and is the second generation CEO of the McAlvany Financial Companies. He has been a featured guest on national television programs including CNBC, Fox News, Fox Business News, Bloomberg, and at financial seminars around the world. After leaving Biola, David met his wife, Mary Catherine, an accomplished ballerina, sculptor, and student of philosophy. Together, they are the homeschool parents of four children with a very active family culture characterized by community theater, daily readings, hiking, skiing, cooking, church life, and priority on togetherness.

Jason Burack is an investor, entrepreneur, financial historian, Austrian School economist, and contrarian. Jason co-founded the startup financial education company Wall St for Main St, LLC, to try to help the people of Main Street by teaching them the knowledge, skills, research methods, and investing expertise of Wall Street. You can also find Jason’s work at his blog website at www.jasonburack.com.

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