My first question, as I sit there on the couch in his office, is: "What about gold? Is this a classic bubble or what?"
"Look,"
he says, with his usual confident laugh. "You could take all the gold
that's ever been mined, and it would fill a cube 67 feet in each
direction. For what that's worth at current gold prices, you could buy
all -- not some -- all of the farmland in the United States. Plus, you
could buy 10 Exxon Mobils, plus have $1 trillion of walking-around
money. Or you could have a big cube of metal. Which would you take?
Which is going to produce more value?"
My first question, as I sit there on the couch in his office, is: "What about gold? Is this a classic bubble or what?"
"Look,"
he says, with his usual confident laugh. "You could take all the gold
that's ever been mined, and it would fill a cube 67 feet in each
direction. For what that's worth at current gold prices, you could buy
all -- not some -- all of the farmland in the United States. Plus, you
could buy 10 Exxon Mobils, plus have $1 trillion of walking-around
money. Or you could have a big cube of metal. Which would you take?
Which is going to produce more value?"
I remember Buffet's interviews back during tech boom talking about he only had a hundred shares of MSFT. Buffett purchased 1/5th of the Worlds silver supply in 1998 @$5 so I don't think he feels the same about that metal. I haven't seen all the filings but his boy Bill Gates also owns a ton of silver estimates are 20% of his net worth in silver.
Wood,
I remember Buffet's interviews back during tech boom talking about he only had a hundred shares of MSFT. Buffett purchased 1/5th of the Worlds silver supply in 1998 @$5 so I don't think he feels the same about that metal. I haven't seen all the filings but his boy Bill Gates also owns a ton of silver estimates are 20% of his net worth in silver.
Bill Gates also owns a ton of silver estimates are 20% of his net worth in silver.
i find this hard to believe, unless it's in a Ag vehicle like SLV. Speaking of SLV, i was talking with a girl that works in finance, and i asked her what do they use to get their customers into gold, and she said their gold vehicle is GLD. So, if the masses are going to use SLV and GLD for their PM vehicles, i have a feeling the eventual parabolic run-up may be higher then many folks are guesstimating.
the demand for gold and silver is real, Chindia alone will drive these prices skyward (relative to the USD) not to mention the multiplier effect of folks trading in paper PM's via the ETF's. I think bank of India's purchase of a couple hundred tonnes of physical gold from the IMF north of 1200 means that 1200 area (USD wise) is our new floor. As the gov't continues with misguided directives of phony monetary inflation, there's only one way for Ag and Au to move, towards the moon
Bill Gates also owns a ton of silver estimates are 20% of his net worth in silver.
i find this hard to believe, unless it's in a Ag vehicle like SLV. Speaking of SLV, i was talking with a girl that works in finance, and i asked her what do they use to get their customers into gold, and she said their gold vehicle is GLD. So, if the masses are going to use SLV and GLD for their PM vehicles, i have a feeling the eventual parabolic run-up may be higher then many folks are guesstimating.
the demand for gold and silver is real, Chindia alone will drive these prices skyward (relative to the USD) not to mention the multiplier effect of folks trading in paper PM's via the ETF's. I think bank of India's purchase of a couple hundred tonnes of physical gold from the IMF north of 1200 means that 1200 area (USD wise) is our new floor. As the gov't continues with misguided directives of phony monetary inflation, there's only one way for Ag and Au to move, towards the moon
not everyone is buying up silver left and right so idk if the same about silver can be said about gold. and buffet did predict the downfall of all the housing finance companies and that it would lead to a slow long economic recovery. I personally do agree with him on the gold situation but it is him
not everyone is buying up silver left and right so idk if the same about silver can be said about gold. and buffet did predict the downfall of all the housing finance companies and that it would lead to a slow long economic recovery. I personally do agree with him on the gold situation but it is him
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