Gold Investors Seek Alpine Safe Haven in Swiss Army Bunkers
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The week after Cyprus said in March it would impose a levy on bank deposits of more than 100,000 euros ($132,000) amid Europe’s debt crisis, Rene Buchwalder’s business boomed.
“This bar is one of the best sellers,” said the former UBS AG banker, standing in the vault of his Swiss gold and silver trading company Pro Aurum as he reached into a stone-grey safe holding neatly stacked coins and selected a 100 gram tablet. “You can break it into individual pieces and use it as money in case the European Union goes under.”