Submitted by Azizonomics
Warren Buffett Priced In Gold
Can you say bubble? Or, more to the point, can you say bursting?
Typical basher. Bashes something one sold early and no longer holds or can afford to get back in the game, with reasonable profits foreseen LOL
Warren Buffett loves to bash gold — claiming that stocks are inherently superior, because they produce a return, whereas gold just sits. Trouble is, stocks (and all paper assets) are subject to counter-party risk, whereas physical gold isn’t. Gold doesn’t overcompensate its CEOs, it doesn’t leverage its productive capital in toxic derivatives, it doesn’t cause industrial disasters like Deepwater Horizon, its value isn’t dependent on central banking, or securitisation, or American imperialism, or the machinations of the military-industrial complex. It just sits, retaining its purchasing power.
Warren Buffett had a great ride: he grew his wealth and businesses in an era of unprecedented growth powered by OPEC oil, and later by Chinese industrialism. That era — the era of the American free lunch — is coming to an end. His insights are applicable to that era. Today is a different world.
http://www.zerohedge.com/news/guest-post-warren-buffett-priced-gold?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29
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