Buffett article says gold is a bubble

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Buffet has been assimilated by the PPT machine.
 
The short story of WB's carreer as an investor:
From value orientation to crony insider.

Interestingly, he sees gold as a fear trade and not such much as an inflation hedge.
 
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Warren Buffet is a sub-human douche backwash. He sold out his own people during WWII. If he catches a round of 5.56, I will shed nary a tear.
 
I think Buffet is right. Gold is a worthless tradition, it's not even money! Since he is a nice guy who just wants to help the country out, I'll buy his gold at $500/oz before it becomes worthless.
 
Hey guys dont forget, WB was a huge holder of physical silver at one point in the recent past. I think it was like 120 - 130 million ozs. I'm under the weather so I really don't feel like researching it, but his buying of such a large amount of phyzz sent ripples thru the physical silver market and it's actually a quite interesting story.

I think that he basically NEEDS to discourage people to buy gold because that means they are not buying stocks which is where most of his money is. He is trying to keep his investment secure, if he told everyone gold is a great asset class, to at the very least preserve wealth, there would be a rush into the yellow metal (causing the price to soar) and people would be dumping thier stocks and paper investments ASAP to get into gold.

Oh, just an observation on a previous topic, it looks like Warren's stake in BAC turned green this week with there shares trading above $8 for the time being.
 
I agree. It is a "Stolper" aka Goldman move by Warren. Keep in mind, he is heavily invested in banks, and like W&Y999 says, he needs retail to buy stocks as much as everyone else that is orchestrating this fucking ponzi of a market.

In 1997, Warren Buffett purchased 130 million troy ounces (4,000 metric tons) of silver at approximately $4.50 per troy ounce (total value $585 million). On May 6, 2006, Buffett announced to shareholders that his company no longer held any silver.
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Wikipedia Source

By the way, who else thinks that the new margins the CME made are just TPTB trying to sucker in the stubborn bear players to buy into the 2012 market?
 
KMS said:
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By the way, who else thinks that the new margins the CME made are just TPTB trying to sucker in the stubborn bear players to buy into the 2012 market?
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In an obvious sign that the CME is suffering from a massive exodus of investors in the wake of the CME refusing to make MF Global clients whole over their losses in the MFG bankruptcy (as well as due to manipulative consecutive margin hikes last May), the CME is attempting to draw speculative traders back into the PM paper market by slashing margins for gold and silver.

Yes, you read that title right. The CME has just announced initial and maintenance margin cuts for silver (13%), gold (12%), platinum and copper!
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http://silverdoctors.blogspot.com/2012/02/cme-slashes-initial-maintenance-margins.html

I'm hoping it's more an issue of them trying to encourage more investment in the COMEX/paper market vs. buying physical.
 
Warren is always talking his book - and his timeframe. No news in that. He might even be right about the bonds...no room on the upside, unlike with PM's that have no obvious limit. So risk/reward is pretty skewed there.
 
Yeah with Buffett and then Fink of black rock pushing stocks seems like they are trying to get the ponzi system back on track so the show can go on a little longer. I used to look up to Buffett, now I have zero respect for him. He has just become another shill for the fed, govt and greedy bankers. He seems to have no concept of the massive debt binge the world has been on for the past 30 yrs or how that has contributed to paper asset returns.
 
in words of James G Rickards:

1. Buffet has maybe $60bn in stocks. If he'd said even one nice thing about Gold, he'd lost maybe $10bn in a very short while, with ppl abandoning stocks and buying into Gold.
2. Berkshire buying into hard assets does the real talking.
 
Buffet is an establishment lickspittle. The reason he bashes gold is because he doesn't want the sheeple to have any. If the public perceives gold to be a bad investment, and many do, there is more gold for the Origami of Omaha and his elite buddies. Anyone who buys in to this man's message is sorely misguided.

Just put a chart of gold over the past four years against one of Berkshire Hathaway. Uh huh.....that's what I thought.
 
FOFOA sez:

1) Wider ownership of gold is the second thing to happen that will lift gold to the stars.

2) But, perhaps the biggest reason gold will quantum-leap is that those who hold physical (big owners) will just start to say "No" to selling. Flow goes to zero. What happens when you divide a number by another that is close to zero?

fofoa.blogspot.com
 
Yeah I thought the recent FOFOA post was good. I am in the process of finishing my response to Buffett's article. QB Partners just came out with one also, posted by zerohedge. Been traveling some so been a bit busy.
 
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I think it is very fitting to repost it from James G. Rickards Twitter feed: the price of Berkshire, but not in dollars, but in OZ gold:
http://p.twimg.com/AnJqKx1CQAA3n0c.jpg

AnJqKx1CQAA3n0c.jpg



...and who is the bubble now, huh?:rotflmbo:
 
Warren Buffet is quickly becoming a joke. He says one thing then turns around and does the opposite. He is a government shill abnd Obama lickspittle.
 
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