madfranks
3rd February 2011, 11:40 AM
On 'The Colbert Report' Stephen Colbert quizzed financial journalist Michael Lewis about what he thinks the next big investment opportunity might be.
"Nickels is what you want to buy, nickels," Lewis explained.
"One of these characters, who made his fortune betting on the collapse of the system has started to buy nickels, " Lewis continued. "The metal content of the nickels is now worth seven cents. If you melted it down, you'd get seven cents."
According to Lewis, this mystery investor was able to get hold of 20 million nickels, which he keeps in a Brinks storage facility.
So hotshot financial types are hoarding nickels, apparently. This can't be a positive sign for the economy.
http://video.aol.com/aolvideo/aol-television/nickels-on-the-colbert-report-020111-tv-replay/773926739001
"Nickels is what you want to buy, nickels," Lewis explained.
"One of these characters, who made his fortune betting on the collapse of the system has started to buy nickels, " Lewis continued. "The metal content of the nickels is now worth seven cents. If you melted it down, you'd get seven cents."
According to Lewis, this mystery investor was able to get hold of 20 million nickels, which he keeps in a Brinks storage facility.
So hotshot financial types are hoarding nickels, apparently. This can't be a positive sign for the economy.
http://video.aol.com/aolvideo/aol-television/nickels-on-the-colbert-report-020111-tv-replay/773926739001