Warren Buffett, who is widely referred to as the most successful investor of the 20th century doesn't seem too adamant about gold investing. Judging by his comments below, you would think that Mr. Buffett doesn't own even a single grain of gold, but in reality, I highly doubt this is true. It is my personal belief that these millionaire and billionaire elitists are hoarding gold and silver in private while publicly steering the public in the wrong direction. A man of this intelligence isn't stupid enough to make the claims below. Sure, on the surface they are all true, but they completely ignore the true reasons for why people like us must protect ourselves with physical assets. [youtube]http://www.youtube.com/watch?v=ygHeFFRZJxc[/youtube] 1. "Gold gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head." 2. "The problem with commodities is that you are betting on what someone else would pay for them in six months. The commodity itself isn't going to do anything for you.it is an entirely different game to buy a lump of something and hope that somebody else pays you more for that lump two years from now than it is to buy something that you expect to produce income for you over time." 3. "Gold is a way of going long on fear, and it has been a pretty good way of going long on fear from time to time. But you really have to hope people become more afraid in a year or two years than they are now. And if they become more afraid you make money, if they become less afraid you lose money, but the gold itself doesn't produce anything." 4. "I will say this about gold. If you took all the gold in the world, it would roughly make a cube 67 feet on a sideNow for that same cube of gold, it would be worth at today's market prices about $7 trillion that's probably about a third of the value of all the stocks in the United StatesFor $7 trillionyou could have all the farmland in the United States, you could have about seven Exxon Mobils (NYSE:XOM) and you could have a trillion dollars of walking-around moneyAnd if you offered me the choice of looking at some 67 foot cube of gold and looking at it all day, and you know me touching it and fondling it occasionallyCall me crazy, but I'll take the farmland and the Exxon Mobils." The rest of the quotes can be found here: http://wp.me/p2hryu-sM
China is reportedly buying gold at a prodigious rate. That's probably the only information anyone needs.
Mr Buffet has most of his savings invested in the current system, he would not be able to move even 0.1% of his total assets into physical gold without destabilizing the current global debt system and devaluing the other 99.9% of his net worth. He has a very different perspective and it's better for him if we all keep investing in the same global paper system as he is doing. It's better for us if we decide for ourselves what to do with our own savings, if he was living our lifestyles I'm sure he would still be making his own decisions about his money. "Warren's power comes from keeping as much of other people's savings as possible in the stock market where he plays. It doesn't matter if it comes in through his company or on its own, just that it's in there. And that's why he wrote this piece trashing gold. Because when you buy a tube of gold coins and put it in your sock drawer, it's out of OG's reach." http://fofoa.blogspot.com/2012/02/yo-warren-b-you-are-so-og.html
"On my honeymoon I traveled out west. When I visited the casino and saw all these smart well-dressed people participating in a game with the odds against them, it was then that I realized I won't have a problem getting rich!" - Warren Buffet translation: people are marks. Don't be a mark.
And that's only what they declare. We all know China is an "under the table" culture. Here's another thread on China: http://forums.silverstackers.com/to...loding-gold-demand-push-prices-over-2000.html
