Which US presidential candidate does gold prefer?
Gold loves chaos and should be hitting new highs, especially with inflation coming down and with it, two rate cuts likely before year’s end.
Charlie Munger, second in command at Warren Buffett’s Berkshire Hathaway, gave his opinion of gold investors on Friday in an interview with CNBC:
“I think gold is a great thing to sew into your garments if you’re a Jewish family in Vienna in 1939, but I think civilized people don’t buy gold. They invest in productive businesses.”
Watch the clip here.
5 Comments
Sam Alkaaf
I agree with Charlie’s opinion, however, he is facing a huge number of people out there in the whole universe who everyday “buy” gold for either “show off” and /or investment purposes.
Anyhow, I am with him
LLResources
Every productive business has to sell something, gold is what productive gold mining businesses sell, but if noone buys gold, investment in these otherwise productive businesses wouldn’t pay off. If one said, don’t buy Blackberry’s as an investment, no one would argue – but what would happen to RIM if noone bought Blackberry’s.There are times when buying gold for investment is wise, other times when it is bought for its use as a precious metal, and there’s nothing uncivilized about that.
Leonleon403
Charlie, please show me these productive businesses you are reffering to. You are a dinosaur like Buffet
jirka
Charlie has not been an astute student of history; that is for sure!
Rc1928lubum
Yeah! This guy is supposed to be a businessman but he cannot count. It takes almost a $ 1,000 to get an ounce of gold out of the ground and this retard says that it has no value. Hilarious!