Charlie Munger: Gold Is For Holocaust-Era Jewish Families To Sew Into Their Garments; Civilized People Don't Buy Gold

Tyler Durden's picture


While Becky Quick's CNBC interview with the Charlie Munger 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 (at around 9:08) 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." End quote.

It is actually funny, because years ago, someone warned us precisely about crony capitalist creeps such as this one:

"I warn you that politicians of both parties will oppose the restoration of gold, although they may outwardly seemingly favor it, unless you are willing to surrender your children and your country to galloping inflation, war and slavery then this  cause demands your support. for if human liberty is to survive in America, we must win the battle to restore honest money.  There is no more important challenge facing us than this issue -- the restoration of your freedom to secure gold in exchange for  the fruits of your labors."

Where did the warning come from?

The father of the man who made Charlie Munger richer than he certainly deserves to be: Howard Buffett.


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Fri, 05/04/2012 - 15:23 | 2397794 Randall Cabot
Randall Cabot's picture

What's the holocaust? Did they ever make a movie about it?

Fri, 05/04/2012 - 15:24 | 2397806 Id fight Gandhi
Id fight Gandhi's picture

Something about da joos, I think.

Fri, 05/04/2012 - 15:30 | 2397844 CIABS
CIABS's picture

It's true that the people who own most of the gold don't qualify as civilized.  Is that what he meant?

Fri, 05/04/2012 - 15:33 | 2397856 Doubleguns
Doubleguns's picture

This barbarian would love to swing a sock full of barbarious relic up side his head.

Fri, 05/04/2012 - 15:37 | 2397881 Ahmeexnal
Ahmeexnal's picture

Someone should carve a swastika on his fat, greasy, bald, hollow (or is it full of shit?) head.

Fri, 05/04/2012 - 15:55 | 2397949 Manthong
Manthong's picture

He’s got a point..

Oven manufacturing was a productive business in 1939 Germany.

It seems like contemporary middle class America might have some things in common with pre-Holocaust Jews.

Fri, 05/04/2012 - 15:56 | 2397984 Popo
Popo's picture

Charlie doesn't realize that it's basically 1939 and we're all Jewish.

The only question I have is what manner the confiscation will come in:  Will they actually pass a law forbidding ownership, or will they tax all gold sales and exports at 90% thereby confiscating its value.



Fri, 05/04/2012 - 16:00 | 2397996 French Frog
French Frog's picture

Charlie Munger, you're a cunt and you're lying through your teeth

Fri, 05/04/2012 - 16:06 | 2398018 Vampyroteuthis ...
Vampyroteuthis infernalis's picture

I am still searching for that productive business. What to invest in?

Fri, 05/04/2012 - 16:25 | 2398108 knukles
knukles's picture

So central bank gold hoards make host nations barbarians.  Que up international criminal courts to prosecute barbarian's extra judicial murder, wars, etc.


Fri, 05/04/2012 - 16:54 | 2398237 fuu
Fri, 05/04/2012 - 17:19 | 2398308 Likstane
Likstane's picture

Haters gonna hate, stackers gonna stack.     

/credit fuu

Fri, 05/04/2012 - 17:32 | 2398335 Pladizow
Pladizow's picture

They should both die already!

Fri, 05/04/2012 - 18:01 | 2398404 SGS
SGS's picture

1939?  Try 1933.  1939 was WAYYYYY to late, just like how 2013 will be.

Fri, 05/04/2012 - 18:09 | 2398420 BigJim
BigJim's picture

Exactly. Gold is for 'pre-holocaust' Jews? What? The Jews knew the Holocaust was coming? No, because if they had, they would have fled Europe before they needed the gold that enabled them to get out.

Fri, 05/04/2012 - 19:46 | 2398566 HoofHearted
HoofHearted's picture

Holy shit. These people don't realize that we're not trying to make a killing here. We're just de-leveraging all the risk and getting into the only currency that will mean anything very soon. Of course if you have Obama's pecker in your pocket, then you'll know how to pick the correct stocks. (hat tip to LBJ on his quote)

No civilized people keep FRNs in their bank accounts. Dumb asses Munger and Buffett. If you want something that will make money consider FAZ or shorting the biggest of banks. BAC, for instance.

Fri, 05/04/2012 - 20:07 | 2398605 AldousHuxley
AldousHuxley's picture

civilized people don't do guerilla fighting against proper British redcoat army.

civilized people don't kill off native americans and corner them in "reservations" like zoo animals

civilized people don't enslave blacks

civilized people don't use chinese to build railroads and then kick them out of the country

civilized people don't use illegal mexicans for cheap slave labor

civilized people don't buy stuff made in china with factory slave labor

civilized people don't carry guns to rallies


well, Munger, American wealth and prosperity was built with uncivil means. Your financial dabbling was all supported by Americans boots on the ground in other countries for god sakes!



Fri, 05/04/2012 - 20:31 | 2398645 jwoop66
jwoop66's picture

That is seven tired cliches in a row!!!   You should get some sort of award or at least a sticker for that one!   I feel like I'm back in sociology 101 again!  

The man is keepin me down.... man...

Fri, 05/04/2012 - 22:23 | 2398800 strannick
strannick's picture

Gramps is really getting out of control. While he's indirectly slurring Einhorn for being a gold loving Jew, he forgets that even the less swarthy German was buying gold a few years before under Weimar.

Golds beaten Berkshire for the last 11 years straight, and like Einhorn said, it just sits there, so you dont have to listen to bitchy old geezers spouting off in Omaha

Fri, 05/04/2012 - 22:30 | 2398819 akak
akak's picture

In Charlie Munger, I think we have found the long-lost father of the illegitimate bastard who passes under the name of Jon Nadler.

Sat, 05/05/2012 - 00:44 | 2398940 Oh regional Indian
Oh regional Indian's picture

Rosenfelt did it to you all last time. Hammered gold AND gold holding.

It can and will be legislated agian. No way aroung that. But they cannot legislate against silver.

That is the key I feel. Too much Silver, spread out far and wide compared to gold. Add to that of course the fact that gold had maddened monarchs for-ever. Why?

Egypt's power was all about Nubian Gold.





Sat, 05/05/2012 - 01:05 | 2398950 derek_vineyard
derek_vineyard's picture

the bifocals seemed so fitting

Sat, 05/05/2012 - 02:40 | 2398996 Oh regional Indian
Oh regional Indian's picture

America: Sucker's for Avuncularity.


Sat, 05/05/2012 - 08:07 | 2399096 Bicycle Repairman
Bicycle Repairman's picture

I didn't know that Mr. Munger was still with us.

Sat, 05/05/2012 - 08:08 | 2399097 Bicycle Repairman
Bicycle Repairman's picture

Why would gold have caught is attention?

Sat, 05/05/2012 - 08:09 | 2399098 Bicycle Repairman
Bicycle Repairman's picture

Is he worried about gold?

Sat, 05/05/2012 - 08:10 | 2399099 Bicycle Repairman
Bicycle Repairman's picture

It is dificult to build a prosperous enterprise these days.

Sat, 05/05/2012 - 10:32 | 2399199 Trimmed Hedge
Trimmed Hedge's picture

So just how skinny do these posts get..?

Sat, 05/05/2012 - 13:29 | 2399495 Bicycle Repairman
Bicycle Repairman's picture

Just pushing the envelope.  I WonderIfMrMungerWouldBeImpressed?

Sat, 05/05/2012 - 05:04 | 2399052 cpzimmon
cpzimmon's picture

I thought that I was the only one who knew that.


Sun, 05/13/2012 - 08:04 | 2420875 ilion
ilion's picture

A week ago I listened on radio to one of the founders of Armada Markets, a Forex broker out of Estonia, discussing the future for gold. He was quite sure we are going to test the 1500 level very soon.

Fri, 05/04/2012 - 22:35 | 2398823 viahj
viahj's picture

we're all gonna die.

you may take some of mine, but i'll take some of yours as well.

those who think that they are above this all will be the next to fall.

who is your neighbor?  do you trust them?

they don't trust you.

we blather on about the sheeple, even call ourselves sheepdogs but when it comes down to it

we're all animals of different plumage and will react as such.


damn "humanity" and especially those who think that they are above it all.




Sat, 05/05/2012 - 00:56 | 2398944 covsire
covsire's picture

Ol' Charlie is lying through his teeth.  Does the administration affect the economy?  "Durrrrrr, nooooo!"  

And what's with the broad interviewing him?  She looks like a whore that wandered off the XXX set into this studio.


Fri, 05/04/2012 - 20:58 | 2398696 ajax
ajax's picture

How anyone can vote this comment "down" is beyond me.  

Sat, 05/05/2012 - 00:13 | 2398922 WonderDawg
WonderDawg's picture

You can say that again.

Fri, 05/04/2012 - 20:59 | 2398698 ajax
ajax's picture

How anyone can vote this comment "down" is beyond me.  

Fri, 05/04/2012 - 19:59 | 2398592 AldousHuxley
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In 1935, Hitler introduced the Nuremberg Laws, which: prohibited Jews from marrying or having sex with "Aryans" (the Law for the Protection of German Blood and German Honor), stripped German Jews of their citizenship and deprived them of all civil rights. In his speech introducing the laws, Hitler said that if the "Jewish problem" cannot be solved by these laws, it "must then be handed over by law to the National-Socialist Party for a final solution (Endlösung).


By 1939, it was too late. By then, Jews with gold weren't escaping nazism, they were simply doing the slave labor of transporting Nazi gold to to railcars.


Einstein left in 1933

Sigmund Freud in 1938


Watch out for elite intellectuals to leave USA. They have brains to sense when things are wrong, have international travel experience (some fully paid conference every year), resistent to brainwashing as many don't even have TVs, mostly self-sufficient.

Fri, 05/04/2012 - 20:01 | 2398596 The Watchman
The Watchman's picture

how skinny will the thread get?

Fri, 05/04/2012 - 20:11 | 2398614 AldousHuxley
AldousHuxley's picture

who you callin' uncivilized?


Gold is for your neck:

Sat, 05/05/2012 - 08:36 | 2399111 Fred C Dobbs
Fred C Dobbs's picture

I think that is me.

Fri, 05/04/2012 - 20:12 | 2398615 nmewn
nmewn's picture

"Watch out for elite intellectuals to leave USA. They have brains to sense when things are wrong, have international travel experience (some fully paid conference every year), resistent to brainwashing as many don't even have TVs, mostly self-sufficient."

I submit that "elite intellectuals" are the fucking problem...I'll even buy their one-way ticket and set up a nice warm greeting at their destination of choice.

How do I despise thee, let me count the ways:

Krugman, Summers, Warren, Reich, Romer, Bernstein...

Fri, 05/04/2012 - 20:29 | 2398643 AldousHuxley
AldousHuxley's picture

You are mistaken economists for intellectuals.


Your anti- critical thinker rhetoric is scaring those who do.


Intellectuals with PhD are in a lab trying to cure cancer for $35k/year while your society rewards snooki with $100k per episode of public skankiness.


Fri, 05/04/2012 - 20:33 | 2398652 jwoop66
jwoop66's picture

Go drop some more soma and stare at the grass some more, tool.

Sat, 05/05/2012 - 10:53 | 2399222 prole
prole's picture

What a fvcking tool!


Intellectuals with PhD are in a lab trying to cure cancer for $35k/year while your society rewards snooki with $100k per episode of public skankiness."

Oh, "my" society rewards Twinkie with a million dollars for whatever. oh Really? But not "your" society. What are you on Fvkcing Mars? What an imbecile this aldo is. You can tell because every post. 100% of his posts toss in something which goes along with the current ZH vibe, then he jams his collectivist poison into it, well it's not working retard.

Sun, 05/06/2012 - 14:54 | 2401190 Xkwisetly Paneful
Xkwisetly Paneful's picture


Who is responsible?

Watered down crappy education system,

revolving door justice system,

epidemic single parent households,

could go on for two days here without a break.

2/3rds of the federal budget absent interest is not miltary which makes it social welfare by definition.

But NO, the industrial military complex is the root of all evil,

these PHDS in labs have contributed jackshit the last 40yrs while the military complex is responsible for GPS, LCD and a littany plus one of other consumer products, while your PHDS filled labs are now blaming people who came back from the future for their collider problems.\

Just cannot make this shit up and the delusional, pompous whackjobs who contribute zilch will continue siphoning productive resources till dirt turns blue.


The complete and total bain of mankind's total existence is unaccountable social scientists and theiir experimentation on the human race.

Fri, 05/04/2012 - 20:59 | 2398697 nmewn
nmewn's picture

"You are mistaken economists for intellectuals."

I are mistaken nothing.

"Intellectuals with PhD are in a lab trying to cure cancer for $35k/year while your society rewards snooki with $100k per episode of public skankiness."

My society?

You deign to give "my society" advice.

So now, the proper thing for you to do is give the example of the "correct societal standards" and where that society might be, so it can be contrasted and compared...and not against the abberation of Snookie...but as a whole.

Fri, 05/04/2012 - 22:41 | 2398834 Arnold
Arnold's picture

I will be more than happy to take you up on your offer /rant. I ask myself why you consider yourself intelligent. In the meantime , while I am waiting for my one way ticket to New Zealand, I wonder if you are able to do as you say or are just another piece of puff. Please do not trouble yourself to think that I await your commitment paid in full.

Sat, 05/05/2012 - 07:34 | 2399085 nmewn
nmewn's picture

Well now Mr. Arnold.

What class of "elite intellectual" do you consider yourself?

Are you the PHD'd Krugman-Summers type searching for the armed escort out "elite intellectual" or the lab coat wearing, 35k a year, perpetually searching for the cure to cancer type "elite intellectual"?

Please note, just having a high opinion of yourself and your worth to society overall doesn't automatically qualify you for yet another special subsidy in life.

In your case, I'll need references.

Sat, 05/05/2012 - 10:10 | 2399173 GMadScientist
GMadScientist's picture

Those "elite intellectuals" Hayek (not Salma).

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