There’s a story making the rounds about a chocolatier in London, called Hotel Chocolat. It recently raised 3.7 million pounds by selling chocolate bonds. The three-year bonds will be paid off with deliveries of chocolate, instead of cash interest.
This comes after Johnnie Walker plugged their pension gap with barrels of whiskey. At the beginning of the month, DIAGEO (the world’s largest multi-national beer, wine and spirits company) said, it would partially fund its pension plan using mature whiskey spirits as assets.
I wonder what’s next… wine, cheese, caviar? This could turn into a serious problem as investors buy into these products and then hoard them in hopes of driving the prices sky high.