WOW - Famous gold-phobic Warren Buffet is BUYING GOLD

Text Drivers are Killers said:
Buffet is famous for saying - don't bet against america. But he's doing that now. Sold bank stocks and bought gold.
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Thanks Trump! Even so, the guys with the bullets will be taking all the gold they want in the Apocalypse.
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https://www.cnn.com/2020/08/17/investing/barrick-gold-warren-buffett-trnd/index.html
Warren Buffett hates gold -- he has made no secret of his distaste for it as an investment. But the Oracle of Omaha's Berkshire Hathaway (BRKB) revealed Friday that it has bought a new stake in top miner Barrick Gold. As if 2020 couldn't get any stranger.

Shares of Barrick (GOLD) -- one of the world's most valuable gold mining firms -- soared nearly 12% Monday on the news. Rival miners Newmont (NEM), AngloGold Ashanti (AU) and Yamana (AUY) all rose sharply as well.
The move comes as gold prices have surged to new record highs this year. It briefly topped $2,000 an ounce earlier this month before pulling back a bit.
Wall Street perceives gold as a safe haven bet as the world battles the Covid-19 pandemic. Gold also has benefited from the weakness in the United States dollar.
 
ThatOwlWoman said:
Duh. Mr. Owl bought gold (well, certificate things that he tells me are not actual gold nor can you go to a Gold Depository and turn them in for ingots or something that you can wisely keep under your bed) when the TrumpPlague first began. I was like WHY???? Not because the price of gold rises when the markets fall, historically. Nope, I was mad that he didn't buy them when the market tanked like everyone else, but when it started to rise. For some reason this genius knew that this recession would work differently and the price of gold would rise in tandem with the markets. He's freaky that way. You would be wise to learn from him.
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Anyone who'd marry you after you killed off one hubby must be mental!
 
Grajonca said:
Anyone who'd marry you after you killed off one hubby must be mental!
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Thanks for proving that you deserve to live in a Third World Shithole sucking the tiny cock of a psychotic King. Tom, anyone who reads more than a few of your posts quickly realizes what a lowlife loser you are. A Brit living in Thailand living a virtual life on an American political forum? WTF kind of loser does that? Your kind, Tom, your kind.

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Dutch Uncle said:
Most far Righties are Tories. They would have favored hanging the treasonous revolutionaries.
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Particularly for that one stunt, where they looted (the warehouses), destroyed private property (threw the tea into the harbor), and rioted (Boston Massacre). :rolleyes:

Who was it that said "One man's terrorist is another man's freedom fighter"?
 
ThatOwlWoman said:
Particularly for that one stunt, where they looted (the warehouses), destroyed private property (threw the tea into the harbor), and rioted (Boston Massacre). :rolleyes:

Who was it that said "One man's terrorist is another man's freedom fighter"?
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I'm not sure but there is both truth and false equivalency in the aphorism as this master's program paper points out with the "Just War Theory": https://www.e-ir.info/pdf/76622

https://iep.utm.edu/justwar/
The rules of just conduct within war fall under the two broad principles of discrimination and proportionality. The principle of discrimination concerns who are legitimate targets in war, whilst the principle of proportionality concerns how much force is morally appropriate. A third principle can be added to the traditional two, namely the principle of responsibility, which demands an examination of where responsibility lies in war
 
Text Drivers are Killers said:
Famous gold-phobic Warren Buffet is BUYING GOLD This is truly startling.
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Buffet does not believe gold is an investment. Gold does not produce anything. If he invests in a factory, the factory produces something. And the company that owns the factory will probably re-invest part of the profits in another factory. Gold in a vault just sits there.

When Buffet dies, the money he leaves his wife will go into an S&P 500 indexed fund. He wants the money invested in a wide cross section of the economy, so his widow can reap the rewards of an investment in growth (without having to do any management).

What does it mean that Buffet is investing in gold? It means he does not believe there is any growth left in America, so he is just trying to save the assets he has. That is truly startling, and very scary. Hopefully it is just a short term collapse, but who knows.
 
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