Warren Buffett explains why gold is a foolish investment

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Post  goldslugger on Sat Feb 18, 2012 12:14 pm

TWO BOB wrote:Buffet a few years ago had warehouses full of silver. Do not know if he still holds them.Most investments have their time in the sun.I was told property was a bad investment in 1990 was that advice BAD.{so glad I followed my own feelings}But today property is so costly it may not be so good.GOLD & SILVER still hold my interest at this time & finding it is such a great outdoor healthy fun activity{most of the time}
Cheers
"TWO BOB"
hi TB [ that don,t sound right?] at the end of the day, you can only go on your own knowledge and instincts.
ol WB and the good ol boys manipulate the markets for their own gain. i read an article on the ROTHCHILD cartel recently, the mind boggles.so few have so much money and power it,s frightening. hopefully my investment in empty beer cans should pay off once i hit the one million mark. Razz
go well, cheers Cool
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Post  goldtimer on Sat Feb 18, 2012 3:25 pm

Hey guys, gold is great fun to find, but at the end of the day if you want to make money you need to find an investment which provides cashflow.
Gold doesn't give you that.
If you invest for cashflow, and then the value of your asset goes up, the capital gains are just a bonus. If you "invest" in something non-productive like gold, you are not getting a return, and the best you can do is sit on it hoping the price will go up.
In saying that though, if you have any gold sitting around home it would be far safer to have it in your safe than have money in the bank.
The world's monetary system is just a sham.
Don't rely on cash reserves.

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Post  Guest on Sat Feb 18, 2012 6:23 pm

Hi guys
I have been prospecting for 30+ years (hobby) in that time have bought 10 detectors.
Gold found has paid for every detector and then some. To me gold has been a good investment
How many hobbies out there pay for themselves Shocked cheers mike

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Post  TWO BOB on Sat Feb 18, 2012 8:16 pm

Mike,
Like you I have been detecting for over 30yr,s and it has been for me a great healthy hobby that has more than paid it's way. From coins in the 80's mostly pre decimal silver to gold & silver rings from Port Phillip Bay. As well as the gold nuggets from mother nature. cheers cheers cheers
Cheers
"TWO BOB"
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Post  hobojoe on Thu Sep 06, 2012 4:15 pm

I think the story about Warren Buffett with the silver purchases he was making in the late 1990,s. Was that if he cornered the silver market and manipulted it to a higher price than it was the federal reserve and USA government would do to him. What they did to the Hunt brothers back in the early 1980s and that was to send him broke and destroy him in the process. I think Warren Buffet gave up on the plan after that. Realised he was taking on the wrong people and joined them instead. ( THE DEVIL HAS MANY POWERFUL FRIENDS ) Twisted Evil

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Post  philip.j.thompson on Sun Sep 09, 2012 10:09 pm

The little Aussie dollar has punched against the odds for years. We were devalued by the yanks in the 70's. Those clowns now print money based on bugger all . I know we are not gold backed but at least we are a stable economy. Don't buy into the gloomers, their sole aim is to destroy us. pirat

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Post  sandy2010 on Sun Sep 09, 2012 11:50 pm

Warren admitted he sold his silver too early (he had it stored in warehouses offshore).....but I think there was a lot more to it than that..................
Regarding his gold comments, remember he is a Guru and investors hang onto his every word.......hence why would he advocate buying gold when everyone would rush off to buy it which means withdrawing money from the banks and raising money by selling shares of which the Buffet empire has billions of dollars invested ?






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Post  thelion on Mon Feb 25, 2013 6:52 pm

Warren Buffet is making the comment about buying gold and he may be right, we however are in the business of FINDING gold a big difference, it is still possible to buy a cheap pan and a shovel and find gold. I have done it. I have dug in to a river bed with a bare hand and found color,that little island in front of Warrandyte shops, no pan nothing. Just a few decent specks, really suprised the wife! 1982/3


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