Millionaires are leaving Chicago more than any other city in the United States on a net basis, according to a new report.About 3,000 individuals with net assets of $1 million or more, not including their primary residence, moved from the city last year, with many citing rising racial tensions and worries about crime as factors in the decision, according to research firm New World Wealth.
Paris saw the largest exodus.The French city lost 7,000, or 6 percent, of its millionaires, followed by Rome, which lost 5,000, or 7 percent.
Located in the heart of Europe is one of the most fortified and massive underground survival shelters on Earth, deep below a limestone mountain. Built by the Soviets during the Cold War, this shelter was a fortress for military equipment and munitions. Now privately owned, this 76 acre above and below ground hardened facility is capable of withstanding a substantial close range nuclear blast, a direct airliner crash, biological and chemical agents, massive shock waves, earthquakes, electro-magnetic pulses, and virtually any armed attack.
This irreplaceable complex is now being re-tasked as Vivos Europa One, becoming the world’s largest and most fortified underground shelter for long-term, uncompromising protection of high net worth individuals, their families, and most precious assets when no other above-ground exfiltration solution will suffice.
The complex includes over 21,108 square meters (227,904 square feet) of secured, blast proof living areas; and, an additional 4,079 square meters (43,906 square feet) of above-ground office, apartments, warehouse buildings, and its own train depot. Collectively there are over 5 kilometers (3.1 miles) of continuous tunnel chambers.
As I was preparing for this article, I remembered something that Zero Hedge just reported that I think relates to this subject. It turns out that “the smart money” has been net sellers of U.S. stocks for 11 weeks in a row…
Last week, during which the S&P 500 was down 1.2%, BofAML clients were net sellers of US equities for the 11th consecutive week. Net sales of $1.7bn were smaller than in the prior week, but all three client groups (hedge funds, institutional clients, private clients) remained net sellers, led by institutional clients.