A recent interview on CNBC by Charlie Munger right hand of Mr Warren Buffet’s has a little for everyone to love and hate (from Keynesian-doctrine to easy-living-Greeks and Bad-trading-robots), Buffett’s right-hand was particularly eloquent in his views on Einhorn’s distrust of the Fed and buying Gold: “gold is a great thing to sew onto your garments if you’re a Jewish family in Vienna in 1939 but civilized people don’t buy gold – they invest in productive businesses.”
He also quoted “I think gold is a great thing to sew in to your garments if you’re a Jewish family in Vienna in 1939 but I think civilized people don’t buy gold.
To my surprise some more people quoted against the Yellow metal.
David Einhorn: “I will keep a substantial long exposure to gold — which serves as a Jelly Donut antidote for my portfolio. While I’d love for our leaders to adopt sensible policies that would reduce the tail risks so that I could sell our gold, one nice thing about gold is that it doesn’t even have quarterly conference calls
Kyle Bass: “Buying Gold Is Just Buying A Put Against The Idiocy Of The Political Cycle. It’s That Simple!” and Howard Buffett: “I warn you that politicians of both parties will oppose the restoration of gold, although they may outwardly seemingly favor it. Also those elements here and abroad who are getting rich from the continued American inflation will oppose a return to sound money. There is no more important challenge facing us than the restoration of your freedom to secure gold in exchange for the fruits of your labors.
I can just say the below data from world gold councildepicts a different story : It is reflecting that uncivilized people who bought the Gold 🙂