May 16

Related article:

Charlie Munger: Gold Is For Holocaust-Era Jewish Families To Sew Into Their Garments; Civilized People Don’t Buy Gold

Got gold and silver?


Must Read: “Another Perspective” (ZeroHedge, May 14, 2012):

From Paul Brodsky and Lee Quaintance of QBAMCO

Another Perspective (pdf)

Two weeks ago, before Jamie Dimon’s thoughtful diversion, Charlie Munger of Berkshire Hathaway instructed viewers of CNBC that “civilized people don’t buy gold, they invest in productive businesses”. Munger was right in that civilized people invest in productive businesses and was right to imply that gold is a non-productive rock, but, in our humble opinion, he was wrong to suggest that gold does not have significant upside as an investment currently (even more than BRK/A?).

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May 07

🙂 Flashback:

Warren Buffett Priced In Gold: Can You Say Bubble? Or, More To The Point, Can You Say Bursting?

See also:

The Best Reason In The World To Buy Gold (Forbes): Beijing Is Planning To Avoid U.S. Financial Sanctions On Iran By Paying For Oil With Gold


Charlie Munger: Gold Is For Holocaust-Era Jewish Families To Sew Into Their Garments; Civilized People Don’t Buy Gold (ZeroHedge, May 5, 2012):

While Becky Quick’s CNBC interview with the Charlie Munger has a little for everyone to love and hate (from Keynesian-doctrine to easy-living-Greeks and Bad-trading-robots), Buffett’s right-hand was particularly eloquent in his views (at around 9:08) on Einhorn’s distrust of the Fed and buying Gold: “gold is a great thing to sew onto your garments if you’re a Jewish family in Vienna in 1939 but civilized people don’t buy gold – they invest in productive businesses.” End quote.

It is actually funny, because years ago, someone warned us precisely about crony capitalist creeps such as this one:

“I warn you that politicians of both parties will oppose the restoration of gold, although they may outwardly seemingly favor it, unless you are willing to surrender your children and your country to galloping inflation, war and slavery then this cause demands your support. for if human liberty is to survive in America, we must win the battle to restore honest money.  There is no more important challenge facing us than this issue — the restoration of your freedom to secure gold in exchange for  the fruits of your labors.”

Where did the warning come from?

The father of the man who made Charlie Munger richer than he certainly deserves to be: Howard Buffett.

Howard Buffett

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