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Ray Dalio Slams Buffett For Being "Wrong On Gold", Says "Social Disruption" Is Inevitable
Given the recent resurgence of precious metals and the looming 'endgame' of Federal Reserve faith, we thought dusting off the following 160 seconds of uncomfortable truth from Bridgewater's Ray Dalio was worthwhile...
"we're beyond the point of being able to successfully manage this... and I worry about another leg down in the economy causing social disruption... Hitler came to power in 1933 because of the social tension between the factions."
"Gold should be a part of everybody's portfolio to some degree because... it is the alternative money.
Warren Buffett is making a big mistake."
Dalio explains...
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Warren Buffett doesn't like gold because you ban't blow a market bubble with gold money and no central bank.
The 'share cropper society' Buffett talks about is coming about because of the fiat money central planning system he loves so much.
Warren doesn't like gold because he's a fake crony-capitalist hack...
He's a very real crony-capitalist hack.
Perhaps better described as a bailout pirate.
Buf-Fey is French isn't it??
No matter how much they tout that the correct allocation to gold should be zero, such an absolute is ridiculous.
I'm really starting to like Dalio by the way.
If anyone is acquiring precious metals, this is the program I use that helps me buy the dips. It’s not a sales pitch just a calculator based on average purchase price that allows you to be more aggressive as the price drops. I’ve had success and prefer it to dollar cost averaging by a long shot.
Well we can't rest our future on the stockpiles, war reserves, farm lands, and military installations & government facilities.
We should have some lumber, mining deposits, maybe national oil wells, coal fields, hydroelectric power, National oil refineries, warehouses with national supplies of metals like steel, aluminum, tin, cooper, silver, gold, platinum, palladium, rare earth metals... commodities, manufacturing capabilities... Organic type resources and facilities for the security of the state.
And probably some protected manufacturing to keep skills for making shoes, clothing, plastics, chemicals, whatever.
I think we should have government cattle and farmland to protect us from shocks and droughts.
Anyway Privatization is the selling off of utilities and capabilities on our many military installations.
Government cattle and farms? Ask the Soviets how that works out.
I think what you are really describing is a tariff system that protects US based business while also funding the government. Done right you can siimply end the income tax and all the other bullshit we have stolen from us. Shrink the size of bureacracy by magnitudes and become mostly self supporting and prosperous.
Or we can have a fiat money system, corporatism/socialism and poverty and raping of our future.
Warren Buffet is the greatest stock pumper ever. He's a dutiful soldier and will be aptly rewarded for his services to the masters...........watta douchebag
Gold is personal property. Buy it with (caugh, gulp burp) cash and no records. Warren Buffet has no duty to disclose his personal holdings in his offshore accounts held under an anonymouse attorney's trust controlled by an offshore corp owning the stock of an offshore trust that is the manager of a Cook Islands trust that owns 10 tons of gold held in a vault somewhere in Canada above the actic circle.... or maybe Australia... or maybe in his backyad in Nebraska.
Fuck Yea!
MISTAKE?
Buffet is a tool of the Chosenite Banksters, and what he says and what he does are two different things. He spreads propaganda becuse people listen to him.
first mistake is to believe buff ass. second i could give a rips shit wtf that fuck head does or says.
the fact that he can make news telling everybody how he is whorholeacle of omaha pisses me off.
he is the ultimate tool of fiat...
Buffet is a fear monger. He makes a lot of his money selling insurance. Unless forced by law. Never buy insurance.
Is it just me, or does anyone else have an overwhelming desire to punch Andrew Ross Sorkin right in the schnoz?
A move to a gold standard in China would require an exchange rate of as much as $64,000 an ounce, 50 times bullion’s price now, according to Bloomberg Intelligence.
http://www.bloomberg.com/news/articles/2015-05-20/chinese-gold-standard-...
Is Bloomberg using what the Chinese last reported as their gold holdings to do their cypering? If they are then......hahahahahahahahaha. Bloomberg's math equations will change when the Chinese announce how much they really have in their vaults.
This is like four years old. You'll fall for anything. What the fuck is this dumb blog supposed to be?
https://youtu.be/AuH_6LYqbD4
"Social disruption"
I can't fucking wait. The new non-rules the government, corporations and rich people are living by finally make it all the way down to us mundanes. "Do as thou wilt is the whole of the law". I cant fucking wait. You have no idea.
No, it's not just you, Didn't Little Lord Fauntleroy come on board the Stuttering Joe and Warren Quickey Morning Cartoon Showboat Show right after he wrote a critical book on the bailouts?
Unless forced by law. Never buy insurance.
Sorry I have to disagree with you on that. Any business with a few key employees and debt needs life insurance. Any young family with kids and a mortgage needs life insurance on the breadwinner even if its for 15 years. Not to have that is just plain stupid.
Definitely need insurance but shop around carefully since it's very, very competitive. For example, AAA gave me a deal on car insurance $285 cheaper then ANY other company. State Farm was not too bad either. The Hartford quoted me the highest price way higher then AAA ... all for the same coverage.
And with so many drivers unisnured these days, that's one you really need to consider.
Also, if you get a 'package' [your house, car and umbrella, for example] with the same company they'll usually give you more of a deal. The house insurance is pretty much needed if you have any savings since if someone hurts themselves in your house they can sue you. For example, if they get electrocuted by your dehumidifer, they can sue you for any damages.
BUT call around and be sure to get quotes IN WRITING via email or letter. Also, re-think poor companies since they will be a real hassle dealing with if you need to file a claim. You could save $$$$$$ and lots of Hassle later.
When I listened to the audiobook version of "Snowball - Warren buffet story" I found it strange that someone would tell his insurance companies to cut back on insuring buildings. I mean, how often does a building in a western society suffer major issues. From an insurance perspective you would think the risk would be in your favour. I found the text and here's the section
"He was more prepared for this than most because he had already been thinking about terrorism risk. In May, he had told General Re and Berkshire Re to cut back on insuring buildings and clients that represented a concentration of exposure to terrorism risk, his mind working as it always did to extrapolate toward potential catastrophes. He had actually cited the World Trade Center as an example of a building complex where a cluster of clients might create too much risk.
While the rising threat of terrorism in the late 1990s and early-millennium years was no secret, Buffett’s attempt to protect Berkshire against the danger had been unusually prescient, and probably unique among insurers"
All I would say is that it's easy to be prescient when you're part of the club who knows whats coming....
He probably came out ahead in Ferguson and Baltimore so far. Where's next boss?
Silver is a far greater value.
Historically...OK thru the last century or so, the silver to gold ratio has been about 7 to 1
Over the past few years looking 60 /70 to 1.
If I had any dough I would buy silver & not just because I'm a broke ass slave to the decadent US Gov.
I think it is more accuate to state the historical ratio at closer to 20-25:1, not 7:1. Still at 60-70:1 is a big shift.
I'm overweight silver as well.
Dalio is the most honest in the hedge fund world and also arguably the best. Gundlach is a pretty straight shooter too. Ray tries to be very careful in telling too much truth because it might be bad for his health.
Im not sure about the bailout pirate. He buttfucked companies with his terms durring the crash, but he didn't force the banks take on massive amounts of shitty debt. Betting on the bailouts is intelligent. What is he supposed to do? "I know this is going to happen and I can make a shitload, but I'm going to refuse on principal." Not a fucking chance.
Shit who wouldn't have taken the deal he got. 10% Federally guarenteed to lend Goldman Sachs so they wouldn't appear different from the other criminal money center banks that needed they cash. All or none was what Paulson dictated. Too bad regular Americans didn't get that deal. Oh yeah, all Federally gurenteed.
Biggest age of lawlessness in US History while authorities "gather data."
Equity traders dream come true.
Whole 911 narrative total bs? Even better.
Interest rates will plunge as US economy plunged into abyss.
Equities will tread water as LNG becomes "new energy normal."
Iran attacks=America's New Friend.
Just my view from Timfoil Land.
Until there's no 'federal' anymore. Just Texas and everyone else.
Fractional Reserve Banking is the bane of the citizenry and manna from heaven for the evil Banksters.
Did he not lobby .gov for the bailouts? This nothing like having a windfall land in your lap. He went out and worked for the money they stole from us.
Of course he did. But that's hating the player and not the game. If bailout nation didn't exist, then his lobbying would have just been air. No bailout, maybe he doesn't invest in GS and it goes under. Or does and has to take on actual risk. And then maybe the his terms are even steeper. So steep that GS decides to just file. Point is that government is problem. They set these horrific rules that benefit the select few. The select few just play the cards they are given.
He is a conman forget the polite names.
Warren Buffet is also a terrible family man and betrays all his relatives offspring. Any man that has no loyalty to his own blood is a walking zombie.
"Warren doesn't like gold because he's a fake crony-capitalist hack...".......i upped ya a green one waylon, but i'd bet wooden nickel that the Buffett Bastard has pounds of Au and Ag stashed up his big asshole, just sayin..........
Put an ice cream cone in his hand and hes a hit with the CNBC idiocracy.
Don't forget the Diet Coke. Whenever there's a pic of he and Bill Gates there are always Diet Cokes around. Sponsored by....
Buffet aint no dummy he's an old con man who eats ice cream cones and feeds disinfo pigshit to yuppie cracker honkies who eat it up! He is a Don a kingpin you think his investments are not diversied in PM??? ya rite
Can't he also just be an asshole? How is it that these elites live so long? We need to get some GMO in his diet and make sure the GMO gets into the inheritors' diets.
I thought the dude ate at McDonalds every morning
you think he doesn't have a few pallets of gold in a private Swiss vault? of course, he wouldn't advertise that, would he?
I can't wait to see the script they give these MSNBC robots after the crash. what will the spin be then?
"It's not our fault"
Buffet owns one of the largest wholesale jewelry manufacturers in the US. He doesn't need a Swiss vault, when he has one right down the street that he can secure physical inventory from at any time.
(BTW - being a "jewelry manufactuer" Buffet would be exempted from confiscation in the event of a Rinse, Repeat of the FDR gold heist, no boating accident required... sneaky disarming little psycopathic prepper bastard...)
(BTW - being a "jewelry manufactuer" Buffet would be exempted from confiscation
please provide some proof to that because I'll have a license as a jewelry manufacturer within 24 hours if that's true, and I hope it is.
Section 2. All persons are hereby required to deliver on or before May 1, 1933, to a Federal Reserve Bank or a branch or agency thereof or to any member bank of the Federal Reserve System all gold coin, gold bullion and gold certificates now owned by them or coming into their ownership on or before April 28, 1933, except the following:
(a) Such amount of gold as may be required for legitimate and customary use in industry, profession or art within a reasonable time, including gold prior to refining and stocks of gold in reasonable amounts for the usual trade requirements of owners mining and refining such gold.
http://www.presidency.ucsb.edu/ws/?pid=14611
Also see section 3 of the Gold Reserve Act of 1934 (numbered page 340 in link)
http://legisworks.org/sal/48/stats/STATUTE-48-Pg337a.pdf
How many times must it be pointed out that there will be no confiscation of gold.
For a number of painfully obvious reasons, the Government will choose onerous taxation instead.
Buffet's definitely has the tax angle covered.
So again, Warren gets to keep his gold.
Non-statist Prepppers need to step up their game, they are getting their asses whooped by a geriatric with a ukulele.
Someone recently pointed out that few turned in gold and few were pursued for gold.
I guess it was people with lots of gold they were using to hide transactions in this time period of the Great Depression... like bankers for instance that had hidden gold in some safe deposit boxes... but they were active in using gold to hide transaction which were large.
I might have been drunk, but I think it was on the Radio Late Night.
well, its a good thing i have nothing onerous then..
so there
Well you would have to admit to having it for starters. Then there is that pent up anger behind every blade and ounce of grass. Fat black chicks hired on by the half breed in Chief toting guns and demanding your gold, yea, not gonna work out to well.
"we didn't see IT coming!"
The spin will be lazy Amerikkans against industrious Chinese...it might not be that much of a spin.
I have a quote from a Federal Reserve Branch 1963:
- Today FED wants to say it has like one Objective: Inflation at a stable rate with stable GDP
"The Function of the Federal Reserve is to foster a flow of money and credit that will facilitate orderly economic growth, a stable dollar, and long-run balance in our international payments"
- well -$700 Billion a year international payments is terrible performance
- FED wants to Take Back it's Mission and Shrink it's Stated Goals and Objectives
So last week a company called Bitgold (symbol XAU.VN) went public. It seems some insiders got really lucky as they held 5c paper and today it hit $8 a share. In one week.
Anyway the company behind the stock is called Bit Gold. Today I signed up and it only took me 5 minutes. I also made a deposit of $84 and bought some grams of gold to see how it goes.. It looks like a good service, you can buy gold within 1% of the spot price and store it for free. I paid them using Interac.
So they are offering just for today if you sign up using this link http://www.BitGold.com/r/YSXz3q You will get .25g of free gold for creating a new account.
Fuck Buttet and Janet Smellen and their shit ass fiat currencies. Lets get some Gold!
Sounds great, but I put all my money into Vandelay Industries stock. Waiting for that first dividend check...
Great Seinfeld reference!
you can buy gold within 1% of the spot price and store it for free.
the buy within 1% part sounds good. The store it for free part is exactly what I do. Lake Michigan dosn't charge me anything to store my guns, ammo or gold.
"So you want to be my latex salesman"
or Endicott Steel
And WHERE exactly is "MY" Gold stored after the purchase ?
Just what I thought .... I don't fucking trust Brinks to "hold" my Gold anymore than I would trust the Boston Strangler to give me a neck massage.........
You think you deserve rights and to participate in the Economy?
We Bankers control the Economy, Credit, Money, Commerce, Trade, Jobs, and government.
You protest us banks, we will show you. you don't have power. We will nuke the Economy and you will be broken of the foolish ideas of Liberty, Freedom, Equality, Rights, Brotherhood. In fact it is already done.
The flow of money is out of the USA and to off shore Trusts and Bank Accounts.
Federal Debt Held by Foreign & International Investors as Percent of Gross Domestic Product, 2014:Q4: 34.75940 Percent of GDP, HBFIGDQ188S,
http://research.stlouisfed.org/fred2/series/HBFIGDQ188S
Current Account Balance: Total Trade of Goods for the United States©, 2013: -703,911,000,000 US Dollars,
Sum Over Component Sub-periods (2013 was last data),
http://research.stlouisfed.org/fred2/series/BPBLTD01USA637S
- Credit Bubble Territory is obvious in 2003 at 50%.
Bank Private Credit to GDP for United States
2011: 55.47615 Percent (Data spans from 1961 to 2011)
http://research.stlouisfed.org/fred2/series/DDDI01USA156NWDB
https://research.stlouisfed.org/fred2/series/MZMV
https://research.stlouisfed.org/fred2/series/M2V
https://research.stlouisfed.org/fred2/series/M1V
https://research.stlouisfed.org/fred2/series/MULT
You bankers can run but you cannot hide. You will not enjoy your ill gotten wealth for long. There are a lot of people who will want to first torture you and then end you.
I probably didn't write that correctly. Needs S/
-
It says here that Bankers created a third party candidate in Teddy Roosevelt, a Republican, for the Election of Woodrow Wilson who was on board with the Aldrich Plan for Federal Reserve, Central Banking System. They conducted a poll of Taft and discovered they could not get Wilson in office. So they played the Election of the US Government like a "Fiddle"... and got Woodrow Wilson into Office (1912) and who Signed the Federal Reserve Act 2 days before Christmas.
Saying something and doing something are entirely different things. Buffet holds gold. That you can be sure of.
How do I know that Buffett doesn't have a couple of pallets of gold under his bed?
Because he sleeps hanging upside down from the rafters.
Haha!!! +1000
Oh oh, Dalio says not a big part of your portfolio. I am 100% gold and silver and am holding pat on real money and not likely to trade it back into paper promises from a corrupt issuer.
I hate that smug little Sorkin prick!!
Was it Dick Fuld, Lehman CEO that said:
"I want you to RIP their Hearts out!"
- in that Film Inside Job.
https://www.youtube.com/watch?v=GZCmWkQuyPc
https://www.youtube.com/watch?v=x93EHs627GI -
https://www.youtube.com/watch?v=3oviWhDWx4A -
Why do all these guys say "don't own gold in a big way"?
I do.
They have to keep saying it. Otherwise everyone would be buying gold and not their promises.
The storm is already here. If you do not already have, or plan on getting "guns, grub and gold" you will be fucked. The coming months are the beginning of the end. Most peopl dismiss this as bullshit.... however history tells a different tale.
Come join for free at www.gunsgrubandgold.com
Survival links, financials, weather, etc.
All are welcome!!!
Buffet doesn't like gold in public, in private i am sure he's not stupid not to have thousands of ounces at least. What degree of corrolation can there be between the words of a billionare scum like Warren and his deeds?
Don't you worry Ray, Uncle Warren probably has at least $5bil in Gold. He just gets favours from the government for spinning his anti-gold narrative. Shame on you old bad of Buffett. Hipocrit.
"Warren Buffett is making a big mistake." ... He doesn't make too may mistakes. Just how do you know he isn't stacking at the same time he's bad mouthing gold.
Wow, I just read the other posts here and I guess everyone had the same idea ... Buffett doesn't alwys tell the truth.
Buffet paid him to say that .
One must understand that Warren is part of the global fiat-pedophile ring and will state whatever keeps him in the inner circle.
Yeah, I bet he feasts on candy-fed babies. His Berkshire-Hathaway behemoth is a big part of the control system, and looking it over I saw that company holds some patents for things that would greatly benefit the world right now, but which I do not see being deployed - such as solar powered desalination plants. This scumbag should be hung up and struck with a pinata stick until all the babies fly out...
Warren Buffet sold out long ago and now is so dependent on the system that he can do nothing more than shill for it.
Gold is ina bear market rally and will move upward for a few weeks, perhaps months. But there is more downside before gold finds its ultimate bottom...
http://www.globaldeflationnews.com/gold-elliott-wave-update-for-week-end...
Really? More Elliott Wave dogshit to peddle here for us?
That looks more like the Quadruple Evel Knievel pattern
Elliot Wave? How many times must I tell you? Charlie don't surf!
Been tracking gold on this site since before it turned down in 2011. It's been right, obviously you've been wrong. Just sayin'.
This Anatomy of a Bubble is spot on also.
http://www.globaldeflationnews.com/anatomy-of-a-bubble-how-the-federal-r...
Buffet owns the hardest asset of all, a railroad. Watch this hand, ignore what my other one is doing.
I would feel better about it if it were a debt-free railroad.
You'll never convince me Buffet doesn't own any gold. That's laughable - just the thought is too funny.
It's a damn echo chamber in here.
Now get this through your heads. The man is 84 fucking years old.
Fat fuckin' load of good a treasure hoard is going to do him, because he'll be dead inside of a decade.
He's on the ultimate retirement plan, the Greatest Generation(tm) Very Best Gold Retirement Plan: just die before the consequences can no longer be postponed, laughing right up to your last breath.
Wrong Ray.
Hitler came to power in 1933 because the Banksters were (unsuccessfully) trying to do the same thing to Germany they were successful doing in the United States.
Exactly, and just like Hitler warned Americans what Jews would do to the US.
Social distortion= Add this to the next list of high suicide attempts since the subprime collapse. (suicides and divorce rates shot up then)...
This 40 something man is about to foreclose on his house. He's threatening to commit suicide by bombing the house that he's about to foreclose on.
http://losangeles.cbslocal.com/2015/05/20/gas-leak-prompts-evacuations-i...
Apparnetly the gas issue is the main problem in the 'hood.
So much for "tin hat conspiracy theorists"... I'm sure the bankers care about the welfare of so many people who lost their homes. (sarcasm)
Why did W stop in Omaha on Airforce One on 9/11?
Was "Captain America" briefed on how best to act the role of Wall Street "cheerleader"?
He did not say "we're beyond the point of being able to successfully manage this."
Hey Ray are you reading The Zero Hedge? Hey, maybe a bit too much huh?
Wahhhh!! Hitler, Natzis! Wahhh!!! Not an hour goes by that we shouldn't mention it seven decades later!
While some people and ethnic groups make an industry out of WWII, a lot of the soldiers, families, and victims are still alive. They lived it, we didn't.
Anybody who slams Buffett Is someone I would have a beer with.
I have a knucklehead, koolaid-drinkIng relative that idolizes Buffett.
The failures of the american society, government, monetary system, economy, financial casino, etc are all inevitable
BUT
the failures do not have to manifest themselves in big crashes instead of just continuous decline
AND
it can continue in this manner for generations longer.
Which is why it is imperative to collpase the system sooner rather than later. Otherwise, succeeding generations will have no concept of the notion of LIBERTY.
Fastest way to collapse is system isto give the progressive carte blache. Give them the rope to hang themselves.
Warren's having a reaction to his father, Howard. Warren is not able to think clearly about gold and, basically, needs to be in therapy about it - ie. his Dad and gold
Howard Buffett strongly supported the gold standard because he believed it would limit the ability of government to inflate the money supply and spend beyond its means.[13] His son Warren Buffett is not an advocate of the gold standard
My bet is when shit hits the fan and the dust clears you will suddenly see that Berkshire Hatheway had several hundred tons of gold stashed away just in case.
Do you really think Buffet is going to tell you what's really going on?
"You never count your money, when your'e sitting at the table".
Buffet is a poker player par excellance, he's got gold. I gaurantee it.
He lies like a central banker, watch what he does, not what he says.
Squid.
zerohedge should not act like fucking lying scumbag politicians and mischaracterize what happens in reality
dalio did not say
"we're beyond the point of being able to successfully manage this..."
he said
"I don't know if we're beyond the point of being able to successfully manage this..."
That is a big difference and I would expect zero hedge to get something important like that right. It doesnt lessen the message in any appreciable way. We know that in the real world we are actually past the point of being able to manage this. But if you are going to present a quotation, then do so accurately. ZH should post a correction or at least just change the quote in the article to make it more accurate.
+1
Agreed. I think Ray knows we are too far but he hedges a little because the powers that be will not want him warning the pubic of what is really going on.
Ray Dalio is a straight shooter and one of the best money managers, if not the best, in the world. He has been doing it for 25+ years too. He is NOT a scumbag like Warren Buffet.
Ray Dalio - How is that different from other planets, Video
- Ever been to a whore house, this is what comes to mind
Ray Dalio - Is this different from Bangin' Whores on 64th Street, Video
Ray Dalio - Look, we have been ruling kings for 10,000 years, Video
Ray Dalio - There is nothing new under the sun for us Jews, we know how to rule the sheep, magistry, ceremony, pomp, uniforms, keeping the proceedings slow and important, Video
Ray Dalio - Investor are dumb-asses, they have no understanding of Financial or Banking Terminology, fact is the citizens/voters/investors/dividend recipients ... well they don't know the real financials, they don't know ho we hike the admin costs & building costs... they are dumb asses... well of course they are universities and pension funds and they have no real insight or management ability, you should view spy movies or read spy books as they are more accurate, Video
Ray Dalio - Billionaire Investor shares his advice, Video
Repost so you all think Privatizing assets that were so important in WWII is a great idea... sell off the commons?
- I ain't making this up, this is a trend, you see lobbying successful in this Piracy
www.rand.org/ content/ dam/ rand/ pubs/ documented_briefings/ 2006/ RAND_DB442.pdf
www.fas.org/sgp/crs/misc/R40854.pdf
https://www.linkedin.com/pub/dir/Linda/Marini
www.aschq.army.mil/supportingdocs/fy99.pdf
Well we can't rest our future on the stockpiles, war reserves, farm lands, and military installations & government facilities.
We should have some lumber, mining deposits, maybe national oil wells, coal fields, hydroelectric power, National oil refineries, warehouses with national supplies of metals like steel, aluminum, tin, cooper, silver, gold, platinum, palladium, rare earth metals... commodities, manufacturing capabilities... Organic type resources and facilities for the security of the state.
And probably some protected manufacturing to keep skills for making shoes, clothing, plastics, chemicals, whatever.
I think we should have government cattle and farmland to protect us from shocks and droughts.
Anyway Privatization is the selling off of utilities and capabilities on our many military installations.