Civilized people don't buy gold

[Zabrina Sarafina]

Warren Buffett’s right-hand man doesn’t think buying gold is such a bright idea.


Berkshire Hathaway Vice Chairman Charles Munger told CNBC, “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.”


Munger, 88, talked about Berkshire's "wonderful" portfolio, and agrees with Buffett's "simple" investment strategy. Munger made the remarks to CNBC on the eve of Berkshire Hathaway’s annual shareholders' meeting, where Buffett addressed his early-stage prostate cancer diagnosis.


(Short article published on May 6, 2012 on "Fox News")


Amidst all this sudden gold marketing buying FRENZY....with all the gurus shouting gold and silver, gold gold gold!!!!!!!!!


Something doesn't seem right.


Seems like an obvious sort of bubble. But the gurus say No! This is not a bubble!


Though personally I'm not a huge fan on following this hype, and would rather invest in businesses (local) myself

[Mr. Bill]

Money is only a representation of energy spent, and since energy is infinite so is money. Interestingly, an ounce of gold today will buy the same quantity of beans that it could have bought a hundred years ago.



.

[Guest123018-4]

something is only worth what somebody will pay for it.
The means of payment and the agreement of value is between the buyer and the seller.
If I have something that you want the value is based on what it will take for me to part with it. A single item may be worthless to me but extremely valuable to you if it is the only one to be found and you want it.

A prime example is pussy.
Women own 100% of all the stock of pussy in the world.
Some have set a certain value on the pussy and it varies in almost an infinite number of ways. Some will allow you to rent it for a specific period of time but you will never get to own it.
Just when you think you own it they will give it to someone else for free just to make a point. For some it means if you make a life commitment, they will allow you to visit it on a regular basis, at first. Then the visits will become less frequent and eventually it becomes almost a stranger. This is when you go and determine what the current value is to rent some pussy for an hour or so.

Just as the value of pussy will fluctuate, so will the value of gold. It all depends on what yu want to have and what you are willing to take to part with it.

[JONBALLS]

most people that bought it in 2000 are pretty happy

[Guest050715-1]

Originally Posted by JONBALLS

most people that bought it in 2000 are pretty happy

I bought at the end of the Clinton administration. I’m happy. And this is why…….

Originally Posted by Mr. Bill

Money is only a representation of energy spent, and since energy is infinite so is money. Interestingly, an ounce of gold today will buy the same quantity of beans that it could have bought a hundred years ago.



.

When the stock market started cratering and everyone recommended the bond market at the end of the Clinton administration, I started researching investments. What convinced me to buy gold was a troy ounce of gold 500 years ago bought a good men’s suit just like it was now. I’ve done quite well.

[JONBALLS]

thats awsome,, hope you become a1%!!!

[robin hood]

Originally Posted by Zabrina Sarafina

Warren Buffett’s right-hand man doesn’t think buying gold is such a bright idea.


Berkshire Hathaway Vice Chairman Charles Munger told CNBC, “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.”


Munger, 88, talked about Berkshire's "wonderful" portfolio, and agrees with Buffett's "simple" investment strategy. Munger made the remarks to CNBC on the eve of Berkshire Hathaway’s annual shareholders' meeting, where Buffett addressed his early-stage prostate cancer diagnosis.


(Short article published on May 6, 2012 on "Fox News")


Amidst all this sudden gold marketing buying FRENZY....with all the gurus shouting gold and silver, gold gold gold!!!!!!!!!


Something doesn't seem right.


Seems like an obvious sort of bubble. But the gurus say No! This is not a bubble!


Though personally I'm not a huge fan on following this hype, and would rather invest in businesses (local) myself

You may want to read a book titled Currency Wars

[Guest123018-4]

Buying gold isnt for everyone.
I own gold I got for under 300.
You could buy a pretty damn good color tv the for 300 bucks.
You can buy a pretty damn good HDTV for the price of one troy ounce now.
What would 300 bucks get you; a bottom of the line off brand that may last a year or so.
Planned obsolescence and inflation.

Then again what would 300 bucks of apple stock bought when it first came out would get you today? The Ipod was pure marketing genius. Apple has captured a whole generation of consumers that have no problem replacing their gadgets like they change underwear.

[nevergaveitathought]

Originally Posted by The2Dogs

something is only worth what somebody will pay for it.


A prime example is pussy.
Women own 100% of all the stock of pussy in the world.


Just as the value of pussy will fluctuate, so will the value of gold.

graph: the more gold you have, voila, the more pussy you have

[Guest050715-1]

Originally Posted by robin hood

You may want to read a book titled Currency Wars

I just read the preface. If it were even possible, I can’t see going back to the gold standard. Ron Paul was laughed at for suggesting it.

Originally Posted by JONBALLS

thats awsome,, hope you become a1%!!!

The trick isn’t making money; it’s keeping it.

The2dogs - As with anything, there are times when gold dips below or rises above the trended benchmark. I think the point is that gold doesn't loose it's value, and for the most part, it rides next to inflation over the long haul.

[Iaintliein]

Considering the source of the comment, I guess "civilized people" buy politicians instead.

[robin hood]

Originally Posted by OliviaHoward

I just read the preface. If it were even possible, I can’t see going back to the gold standard. Ron Paul was laughed at for suggesting it.

Its not about going back to the gold standard but is an interesting read I think you would enjoy it.

If you have a kindle I will loan it to you.

[Zabrina Sarafina]

Originally Posted by robin hood

Its not about going back to the gold standard but is an interesting read I think you would enjoy it.

If you have a kindle I will loan it to you.

I think I saw that book when browsing amazon business bestsellers...so what points does it make?

[BigLouie]

It is simply not possible to return to the gold standard because there is not enough gold in the world to fund the current US economy.

[I B Hankering]

Originally Posted by BigLouie

It is simply not possible to return to the gold standard because there is not enough gold in the world to fund the current US economy.

. . . only after some cataclysmic shock to the world economy could the gold standard be reinstated.