This page has been archived and commenting is disabled.

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.

 

 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Fri, 05/04/2012 - 16:36 | 2398180 roguetraderinchicago
roguetraderinchicago's picture

Hey, that's my line....people need a "benevolent dictator"!

 

Fri, 05/04/2012 - 16:47 | 2398189 ebworthen
ebworthen's picture

If you're a myopic fossil who makes your living off of fees from suckers I suppose you would say that gold is uncivilized.

One of his greatest fears is probably Christians and Jews sewing gold into their clothing and leaving the U.S.A.

Fri, 05/04/2012 - 16:41 | 2398190 LawsofPhysics
LawsofPhysics's picture

Civilized people prosecute fraud and insure the rule of law.

Sat, 05/05/2012 - 11:23 | 2399285 Temporalist
Temporalist's picture

There is no liberty nor civilization without justice.  That is why so many people are angry and protesting around the world.  They lived/live under oppressive regeimes or under rule of oligarchy with punishment meted out to the poor and defenseless while the kleptocrats commit fraud against millions and use money, power and political favors to walk away with bonuses.

 

That is injustice and it's globally systemic.  US, China, EU, IMF, BIS, WB, UN...systemically corrupt.

Fri, 05/04/2012 - 16:40 | 2398191 F. Bastiat
F. Bastiat's picture

Spoken like a true nazi.

Fri, 05/04/2012 - 16:44 | 2398192 loveyajimbo
loveyajimbo's picture

I think he hoovered himself cross-eyed servicing the Oracle of Omabama... all crooks know that the coming collapse of the dollar will be bad for their "productive" companies... so they badmouth the telltale gold, when their mouths are not busy elsewhere...

 

When it becomes public that the US no longer has any physical gold... the shit will truly hit the fan.

Fri, 05/04/2012 - 16:42 | 2398198 Dr. Gonzo
Dr. Gonzo's picture

I'm not a Jew or a civilized human being. I'm a barbarian! AND I WANT GOLD!!!

Fri, 05/04/2012 - 20:13 | 2398618 zerozulu
zerozulu's picture

This old fart is sending hidden signals to all Jews to buy gold.

Fri, 05/04/2012 - 16:45 | 2398202 cfosnock
cfosnock's picture

Damn I knew that central banks were not civilized and now I have the quote to prove it.

Fri, 05/04/2012 - 16:44 | 2398206 Cone of Uncertainty
Cone of Uncertainty's picture

Note to Charlie: You'll die soon prick.

Fri, 05/04/2012 - 16:47 | 2398215 cpzimmon
cpzimmon's picture

Jesus Christ, what an arrogant antisemetic fuck face. Talk about barbaric...he doesn't even use a cell phone...fucking moron.

Fri, 05/04/2012 - 16:50 | 2398229 Sandmann
Sandmann's picture

Must have been heavy garments....and I thought it was all dental fillings..  still interesting to see how he thinks

Fri, 05/04/2012 - 17:55 | 2398390 my puppy for prez
my puppy for prez's picture

"antiSEMEtic"?

Does this mean he does not like SEMEn?

Fri, 05/04/2012 - 16:50 | 2398224 Smartie37
Smartie37's picture

Hey Munger - He's coming for you -----

 and he doesn't take paper for a deferral...........

How 'bout that LEGACY, Charlie Ol' Boy !

We'll remember you -- with some phlegm..............

Fri, 05/04/2012 - 16:51 | 2398225 Jena
Jena's picture

A little OT:  Charlie Munger's daughter, Molly is trying to get a state income tax increase on the California state ballot in November, ostensibly to fund education.  It is competing with Gov. Jerry Brown's own tax increase plan.  

However, no matter how it's sold to the voters, it's likely that any money collected from a tax increase that passes is going to go to the underfunded (bloated) public pension system, not education.

http://ballotpedia.org/wiki/index.php/Molly_Munger's_California_State_Income_Tax_Increase_to_Support_Education_Initiative_(2012)

Fri, 05/04/2012 - 16:51 | 2398226 Lore
Lore's picture

Would you invest in a firm tainted by this doddering, out-of-touch, party-line-towing old dingbat?

Fri, 05/04/2012 - 17:29 | 2398227 walcott
walcott's picture

Gold is uncivilized IBM chips are civilized.

Take a little pain. Creative destruction.

Greater for the system of the world.

Berkshire is a collection of failed business'.

It's a natural thing to get burned by the market.

Our controlled business.

They will own the world.

Nominally communist.

Wide spread starvation.

Population control.

A remarkable human acchievement.

Modern communists leaders look like American Admirals.

What's going on is peculiar.

Singapore is a huge stunt.

And China has copied Singapore.

Celebrated festival.

The benevolent dictator.

Social utility of rats in a grainery.

We do alot of things that are literally insane.

Get the picture?

Fri, 05/04/2012 - 16:51 | 2398228 world_debt_slave
world_debt_slave's picture

what alternate reality do these jokers live in? sheeesh!

Fri, 05/04/2012 - 16:57 | 2398247 zerotohero
zerotohero's picture

Guys like Charlie here are a laugh riot - he is so fucking wealthy that he can sit there and lie (laughing on the inside) with a boner on. I mean shit - he must go back to his vault like Scrooge McDuck and roll around in his gold.

Fri, 05/04/2012 - 16:57 | 2398251 Canadian Dirtlump
Canadian Dirtlump's picture

With any luck there is a spot in hell reserved for that googley eyed babboon clit and all his perverted boyfriends.

 

Someone should do the world a favor and sew some semtex into one of his cheap suits and have him wear it to the next orgy ( lemon party ) at the country club.

Fri, 05/04/2012 - 16:58 | 2398253 israhole
israhole's picture

This dummy hasn't yet earned that saying "Jew" on the tellyvision is verboten, like anyplace else these days?  That is, unless you're a Jew.

 

Fri, 05/04/2012 - 17:03 | 2398254 SwingForce
SwingForce's picture

OK settle down, Beavis. "Read My Lips- don't let the sound of my voice distract you".

CUT- to Jim Grant, "gold & silver Mining Companies' STOCKS are at lows and going lower every day."

Maybe all speaketh the truth, but partly. You guys should really watch Criminal Minds on CBS and get with the BAU method of figuring shit out- you all get sucked down the wrong path, and it wastes your time as well as deprives you of the true message.

PS_ Everybody hates Hitler now, but the first few years were great. CUT- to Obama.........

(Gold & Silver Mining Companies ARE "productive businesses" as per Charlie, who was alive in 1939.....and wrote a great song for QUEEN if I remember correctly, or was it 2039?)

Fri, 05/04/2012 - 17:00 | 2398261 shovelhead
shovelhead's picture

Guess that explains why they hung around Europe instead of swimming to NY.

Folks, these are the retards that are running the show...Frightening beyond words.

Fri, 05/04/2012 - 17:00 | 2398262 Intoxicologist
Intoxicologist's picture

The airwaves crackle as an intercom is keyed...

"Paging Charlie Bunghole, paging Charlie Bunghole!  Mr. Magoo called; he wants his glasses back, ASAP!"

 

Fri, 05/04/2012 - 17:02 | 2398268 Waterfallsparkles
Waterfallsparkles's picture

Wow, his comments certanly hit a nerve.  Not sure if it was about the Jews or the Gold.  But, obviously money printing has helped to build his wealth.

Have to keep in mind that I do not think that he or Warren trust the Markets either.  As they always try to buy their Companies in whole, so they cannot be manipulated by the Wall Street Crowd.

In essence they are anti establishment as they do not want their holdings subject to the Market or the Market swings.  They do not care if one of their Companies posts a loss as no one can short it down because it is totally under their control.

They do not have total control of the price of Gold so they will not own it as it is subject to Wall Street Manipulation.

Fri, 05/04/2012 - 17:45 | 2398362 EvlTheCat
EvlTheCat's picture

What the hell does Warren Buffet care about getting screwed by Wall Street?  He has the US Taxpayer backstopping all of his damn investments.  Anti-Establishment, right.

http://www.whiteoutpress.com/articles/q12012/warren-buffett-the-devil-in...

Fri, 05/04/2012 - 17:03 | 2398273 ChickenTikka
ChickenTikka's picture

You guys are pretty tough on him.  There is nothing wrong with his comment. He is right, if you are in truly dire straights GOLD is great.  If civilization is still in tact and things are working why would we want to be in Gold? 

Quit putting our millenial brand of self righteous political correctness dogma on a 90 year old man.

 

Fri, 05/04/2012 - 18:04 | 2398405 EvlTheCat
EvlTheCat's picture

Ok, since you sound like you have a lot of insight, or are in the FED Street loop, why don't you let the rest of us know when the implosion will occur?  You really think they are going to announce a systemic economic failure in time for the rest of us to prepare?  You trust government and corporations that much?

People, like this walking corpse, insulting investments in security outside the realm of Wall Street do it because they desperately need to keep the Pleebs confidence in Wall Street so they don't loose their silk shirts.  At least not until they secure more US Taxpayer bailout money.

Right

Fri, 05/04/2012 - 19:27 | 2398532 Badabing
Badabing's picture

In a riveting interview on TruNews Radio, Wednesday, private investigator Doug Hagmann said high-level, reliable sources told him the U.S. Department of Homeland Security (DHS) is preparing for “massive civil war” in America.

“We have problems . . . The federal government is preparing for civil uprising,” he added, “so every time you hear about troop movements, every time you hear about movements of military equipment, the militarization of the police, the buying of the ammunition, all of this is . . . they (DHS) are preparing for a massive uprising.”

Hagmann goes on to say that his sources tell him the concerns of the DHS stem from a collapse of the U.S. dollar and the hyperinflation a collapse in the value of the world’s primary reserve currency implies to a nation of 311 million Americans, who, for the significant portion of the population, is armed.

Uprisings in Greece is, indeed, a problem, but an uprising of armed Americans becomes a matter of serious national security, a point addressed in a recent report by the Pentagon and highlighted as a vulnerability and threat to the U.S. during war-game exercises at the Department of Defense last year, according to one of the DoD’s war-game participants, Jim Rickards, author of Currency Wars: The Making of the Next Global Crisis.

Through his sources, Hagmann confirmed Rickards’ ongoing thesis of a fear of a U.S. dollar collapse at the hands of the Chinese (U.S. treasury bond holders of approximately $1 trillion) and, possibly, the Russians (threatening to launch a gold-backed ruble as an attractive alternative to the U.S. dollar) in retaliation for aggressive U.S. foreign policy initiatives against China’s and Russia’s strategic allies Iran and Syria.

“The one source that we have I’ve known since 1979,” Hagmann continued. “He started out as a patrol officer and currently he is now working for a federal agency under the umbrella of the Department of Homeland Security; he’s in a position to know what policies are being initiated, what policies are being planned at this point, and he’s telling us right now—look, what you’re seeing is just the tip of the iceberg. We are preparing, we, meaning the government, we are preparing for a massive civil war in this country.”

“There’s no hyperbole here,” he added, echoing Trends Research Institute’s Founder Gerald Celente’s forecast of last year. Celente expects a collapse of the U.S. dollar and riots in America some time this year.

Since Celente’s ‘Civil War’ prediction of last year, executive orders NDAA and National Defense Resources Preparedness were signed into law by President Obama, which are both politically damaging actions taken by a sitting president.

And most recently, requests made by the DHS for the procurement of 450 million rounds of hollow-point ammunition only fuels speculation of an upcoming tragic event expected on American soil.

These major events, as shocking to the American people as they are, have taken place during an election year.

Escalating preparatory activities by the executive branch and DHS throughout the last decade—from the Patriot Act, to countless executive orders drafted to suspend (or strip) American civil liberties “are just the beginning” of the nightmare to come, Hagmann said.

He added, “It’s going to get so much worse toward the election, and I’m not even sure we’re going to have an election in this country. It’s going to be that bad, and this, as well, is coming from my sources. But one source in particular said, ‘look, you don’t understand how bad it is.’ This stuff is real; these people, the Department of Homeland Security (DHS), they are ready to fight the American people.”

TruNews‘ Wiles asked Hagmann: who does the DHS expect to fight, in particular? Another North versus South, the Yankees against the Confederates? Hagmann stated the situation is far worse than a struggle between any two factions within the U.S.; it’s an anticipated nationwide emergency event centered on the nation’s currency.

“What they [DHS] are expecting, and again, this is according to my sources, what they’re expecting is the un-sustainability of the American dollar,” Hagmann said. “And we know for a fact that we can no longer service our debt. There’s going to be a period of hyperinflation . . . the dollar will be worthless . . . The economic collapse will be so severe, people won’t be ready for this.” Sign-up for my 100% FREE Alerts

Source: Full TruNews interview, May 2, 2012

Read more: http://www.beaconequity.com/we-are-preparing-for-massive-civil-war-says-dhs-informant-2012-05-03/#ixzz1tuqmfv9U

Fri, 05/04/2012 - 23:05 | 2398861 DVDBeaver
DVDBeaver's picture

Sheep don't riot.... they get sheered.

Sat, 05/05/2012 - 00:57 | 2398946 Centurion9.41
Centurion9.41's picture

There may be a civil war, but there will be "racial civil ear" before a $USD collapse driven one.  Likewise, there will be major civil wars in other parts of the world before we have one here.

Btw, the US is much, much better off than Europe or China. 

#1 We can grow enough food for our people to survive.  Europe and China will have a much much harder time of it.

#2 We control the seas, and therefore can control the majority of the flow of natural resources that most other countries need to compete and survive.

Nice try though.

Fri, 05/04/2012 - 18:12 | 2398427 Boxed Merlot
Boxed Merlot's picture

If civilization is still in tact and things are working why would we want to be in Gold?...

 

If you read uncle warren's pop's remarks, the answer is simple.  You want to be in gold because it represents freedom. 

The US has had a decent run in that regard whether warranted or not, but freedom is represented by the fact that paper currency had a redeemable weight / measure in gold and/or silver coinage. 

Freedom is not gold, but is represented by the people's right to own it and use it in lieu of paper fiat as legal tender.

 

I find it interesting that uncle warren was taught this stuff but has seen no need to teach others the stuff his own father believed.  Funny thing about truth, it never becomes untrue.

 

Fri, 05/04/2012 - 18:35 | 2398470 DosZap
DosZap's picture

If civilization is still in tact and things are working why would we want to be in Gold?...

 

Charlie, how about asking that GoldBug Alan Greenspan..................Hmm

Fri, 05/04/2012 - 22:19 | 2398804 DoctoRx
DoctoRx's picture

Because real interest rates are negative, that's why people should own gold, Chicken.  Even if TWAWKI isn't quite ending (can't know till it's too late), maybe you like getting zero interest rates on your money while the cost of living zooms up.  Maybe you think that in this situation, "things are working".  I don't and the regular ZHers don't, either.  Consider decamping to an MSM site.  Krugman, for example - he wants interest rates to be even more negative. 

Fri, 05/04/2012 - 17:04 | 2398274 Bokkenrijder
Bokkenrijder's picture

What absolutely disgraceful remarks by Charlie Munger about Jews and the Holocaust, bascially implying that Jews are uncivilized!

As for Gold not producing anything: how much is that dividend again that Berkshire Hathaway always pays it's shareholders annually...? Oh yeah right, it's a big fat zero!

Eventhough I'm not Jewish: shalom everybody!

Fri, 05/04/2012 - 17:06 | 2398285 SwingForce
SwingForce's picture

Sounds like old Charlie got it right- the only thing worth taking with you while fleeing from a government gone nutzo, is GOLD. Read between the lines, its a brilliant statement and spot-on!

Fri, 05/04/2012 - 17:04 | 2398279 Frank N. Beans
Frank N. Beans's picture

why do these two people keep talking about "doody" and "masterplanning?"

 

Fri, 05/04/2012 - 17:08 | 2398280 Waterfallsparkles
Waterfallsparkles's picture

Anyone take away that he also did not want to be in the Market out smarting the Computer systems or trading the Market?

Fri, 05/04/2012 - 17:06 | 2398284 zerotohero
zerotohero's picture

Charlie picks up the Skittles and rainbows shooting out of Warrens ass.

Fri, 05/04/2012 - 17:08 | 2398288 SwingForce
SwingForce's picture

That explains the rainbow colored moustache.....

Fri, 05/04/2012 - 17:09 | 2398293 MFL8240
MFL8240's picture

Another Jewish know it all!

Fri, 05/04/2012 - 17:11 | 2398296 Everybodys All ...
Everybodys All American's picture

Charlie really meant to say ... Invest in business's that you can front run Warren Buffet on. It's illegal for un-civilized people like ya'll but perfect for the civilized like Warren and Charlie. All of course as long as you slap high fives with your home boy Obama.

Fri, 05/04/2012 - 17:12 | 2398297 zebrasquid
zebrasquid's picture

What civilization is left?

Yeah, if our society was (still?) civilized he might have a point.  

Under present circumstances, he's the relic.

 

Fri, 05/04/2012 - 17:13 | 2398302 seek
seek's picture

Chuck you, Farley!

Fri, 05/04/2012 - 17:32 | 2398304 NuYawkFrankie
NuYawkFrankie's picture

Munga & Buffart: Yesterday's con-"men".

Listen to these two demented, deluded, blowhard dopes at your peril.

Fri, 05/04/2012 - 17:16 | 2398307 Dr. Gonzo
Dr. Gonzo's picture

Is he trying to tell us we are going to have another holocaust?

Fri, 05/04/2012 - 17:47 | 2398369 NuYawkFrankie
NuYawkFrankie's picture

another?

Fri, 05/04/2012 - 17:21 | 2398314 Watts_D_Matter
Watts_D_Matter's picture

Becky Quick loves interviewing  these old "raisin sacks"....Did Mongrol say he distrusts "masterbaiting"?  Crazy old bastard!  That old fuck Chuck has funny eyeglasses...Like WallEye from Hot Shots...

Becky Quick:  Do you "tweet" Charlie...

Charlie:  no I don't tweet...but I do fart and squeek...

Fri, 05/04/2012 - 17:22 | 2398315 resurger
resurger's picture

We buy because it's a tradition mother fucker

Fri, 05/04/2012 - 17:26 | 2398322 jepicza
jepicza's picture

Now I get it... I had this strange feeling for quite some time, that those 8+K tons of gold in Fort Knox doesn't belong to US. BTW, I didn't know that there are so many Jews in China.

Fri, 05/04/2012 - 17:48 | 2398370 my puppy for prez
my puppy for prez's picture

LOL!!!

Fri, 05/04/2012 - 17:28 | 2398326 meatball
meatball's picture

Productive business? That's a load of bs. Many people would call KO and MCD unhealthy and unproductive.

Fri, 05/04/2012 - 17:55 | 2398388 lemonobrien
lemonobrien's picture

the truth is, it's all bullshit. productive, unproductive, are words used by slave owners; we're just gorillas who should be sitting in the fields munching on grass and interloping with our bitches.

 

its the chimpanzee which is the fucking problem.

Fri, 05/04/2012 - 17:31 | 2398331 GrinandBearit
GrinandBearit's picture

Dear Charlie Munger and Uncle Warren,

Please die.  Do it soon. 

The world will be much better off without you two.

Fri, 05/04/2012 - 17:55 | 2398393 Mary Wilbur
Mary Wilbur's picture

Perhaps they're cursed with  madcow disease or Alzheimers.  

Fri, 05/04/2012 - 18:39 | 2398475 skank
skank's picture

don't give'm any ideas! these motherfucking douchebags might be tempted to use that as a legal defense.

Fri, 05/04/2012 - 17:30 | 2398333 Waterfallsparkles
Waterfallsparkles's picture

Munger also does not like Computer Trading.  He does not support Clipping by front running Trades.

Fri, 05/04/2012 - 17:35 | 2398341 proLiberty
proLiberty's picture

Civilized People do not sit still while government embezzles their wealth by the dilution of their currency, and other assets.   Civilized People are smart enough to recognize a Leviathan State, who views them as a parasite views a host, a State that now prints almost half of all the money it spends on Welfare/Warfare, a state that now empowers itself even to controlling end-of-life care for its citizen dependents.

Civilized People know when to invoke the same unalienable rights that were invoked prior to 1776, when the government of that era usurped power.  While that one imposed taxation without representation, this one imposes regulation without representation.  This one also advanced the socialist evil that we all must live at the expense of everyone else, so we all can be poor while the elite are taken care of, even if they are only 1/32 Native American.

Happily, today's civilized people have more peaceful options than was available in 1776.  Those people gave us the option of calling for a Constituional Convention, whereby we could liquidate the present Leviathan State, and we could try to build a replacement in its place.  

For the New United Sates, I would suggest:

1) Government cannot appropriate any funds from the Treasury for the benefit of any private citizen;

2) Government cannot spend more than it has in its Treasury, except during a declared war, after which the debt must be repaid within 10 years;

3) Any federal law or regulation having the weght of law, can be vetoed if a majority of States vote to that effect.

4) The only legal money would be gold and silver, or warehouse receipts for same;  Should the government issue any guarantees of any sort, an actuarially sound reserve must be set up and costed in the fiscal years the guarantee was in effect; government could not engage in banking; Fractional reserve banking would be allowed but only under full disclosure to the customer, where the officers of the bank and shareholders where personally liable for loses, and where no public money nor guarantees given to bail out banks;

5) Central banking would be limited to mutual aid pools amongst cooperating banks to insure liquidity;  Otherwise no central bank would be authoriized;

6) All laws must apply equally to members of Congress and employees and officials of government.  For example USC 18 USC § 1001,  (prohibition of telling a lie to a federal offical) would apply to federal officals telling lies to citizens.

(And what, dear ZH reader, whould you fix to help ensure that the New United States would not fall to the same failings that the original one succumbed to ?)

 

Fri, 05/04/2012 - 20:45 | 2398669 lakecity55
lakecity55's picture

+1 more on your post.

I propose the law in the sci-fi story "Lone Star Planet," modeled on Texas. If you could prove a politician lied, you could shoot him.

Fri, 05/04/2012 - 17:39 | 2398346 Bunga Bunga
Bunga Bunga's picture

When I look at all the powerful Wall St criminals, I feel like a Jew in 1939.

Fri, 05/04/2012 - 17:41 | 2398352 Meatier Shower
Meatier Shower's picture

So, does this make me an honorary uncivilized Jew?

Fri, 05/04/2012 - 17:43 | 2398356 HankPaulson
HankPaulson's picture

It's great that extremely successful people like Charlie will take time out to educate us. Apart from the wealth of evidence coming from mathematics, physics and chemistry - of which Charlie is no doubt master - history itself attests to his words: civilized peoples have always not bought gold. Today is no exception.

Fri, 05/04/2012 - 17:46 | 2398364 my puppy for prez
my puppy for prez's picture

uh oh....

How very anti-semitic of him.....   LOL

No doubt he will be tarred and feathered by the ADL very, very soon!

Fri, 05/04/2012 - 17:47 | 2398367 game theory
game theory's picture

That was a great interview. Thanks for posting it. Particularly revealing were his comments on Keynesian policy.

Fri, 05/04/2012 - 17:48 | 2398368 lemonobrien
lemonobrien's picture

capitalism is not civilized. 

Fri, 05/04/2012 - 17:48 | 2398373 10044
10044's picture

Do civilized people print shit loads of money everyday?? I guess his bearishness means the gold bull market is TOTALLY intact. Second he becomes bullish (don't worry, that'll be $8k away and cnbs WILL cover his sentiment), that's the time to sell gold.

Fri, 05/04/2012 - 17:50 | 2398375 BTHB
BTHB's picture

Munger and his boss are equally clueless when it comes to gold and taxes. What is less well known is that Munger's daughter is bankrolling a ballot proposition in California that seeks a huge income tax increase to pour down the publick skools rathole.

Like father, like daughter. Apparently, being a moron runs in the Munger family.

 

 

Fri, 05/04/2012 - 17:51 | 2398379 orangegeek
orangegeek's picture

Above all the noise, the elliott wave primary count remains bearish.

http://bullandbearmash.com/index/gold/daily/

Fri, 05/04/2012 - 18:32 | 2398466 jomama
jomama's picture

because fundamentals mean jack shit in this day and age.

Fri, 05/04/2012 - 18:21 | 2398382 walcott
walcott's picture

 

Perth Mint Makes World's Largest Gold Coin

http://www.youtube.com/watch?v=R1KoF8Ik24Y

Perth Mint uncivilized. And the US mint? Canadian

mint?

Every person who bought their wife a wedding band. 

 If you have any money in any of their accounts or have stock in

any of the companies they own. Get your money out. 

Especially IMB they have a geezer munger chip on for you.

2012 you choose Nazi Hitler or Commie Mao.

Enjoying the party?

Fri, 05/04/2012 - 18:03 | 2398407 juwes
juwes's picture

save your outrage, moralizers. there is no such thing as how it should be. conquer this king and another rises like a non smokable weed in your garden.
the universe has a message and it is this: be ok with your shitty existence and it wont feel shitty. and by all means, take anarchy firmly into your obese bossoms and stop whining, but do neither and you are completely the property of those who have conditioned you.

and its spelled juwes.

Fri, 05/04/2012 - 18:06 | 2398415 Yen Cross
Yen Cross's picture

 Is that a " fancy dancy" pair of those new "Google goggles", Charlie is wearing?

Fri, 05/04/2012 - 18:08 | 2398419 aldante
aldante's picture

It is my dream that we literally make these bankster frauds true COCKSUKERS. Force them at gunpoint to suck each others shlong then post on the Internet. Even then they would still have the best of us.....fuck these assholes!

Fri, 05/04/2012 - 18:12 | 2398426 Logans_Run
Logans_Run's picture

Charlie, very simple STFU!!!!

Fri, 05/04/2012 - 18:15 | 2398435 Logans_Run
Logans_Run's picture

...and tell your business partner to stuff it!!! I stopped bying See's Candy just because that bastard owns the company. I refuse to do business with either of you.

 

Fri, 05/04/2012 - 18:17 | 2398437 Born-Again Bankster
Born-Again Bankster's picture

Do you "tweet"?  No.  No need.  I'd just tweet once, "Lying to America" and that covers pretty much everything I say.   But I'd tweet you, honey.

Fri, 05/04/2012 - 18:27 | 2398459 Hoody Who
Hoody Who's picture

The game is on Big-Time!!

Lately that's all MSM talks about, trying to disconnect you from your PM's.

Stack when you can, and while you can!!

 

 

Fri, 05/04/2012 - 18:42 | 2398480 YesWeKahn
YesWeKahn's picture

You all got him wrong. He was saying that civilized people already OWN GOLD, they don't need to buy any more.

Fri, 05/04/2012 - 20:07 | 2398606 zerozulu
zerozulu's picture

After listening his BS, it is clear to me that this ship is sinking. People with PM in their possession will be the winner.

Always do exactly opposite of what Jews tell you to do.

Fri, 05/04/2012 - 18:46 | 2398483 Dadburnitpa
Dadburnitpa's picture

Charlie and Buffett are both old. They'll both be dead soon.  From what I've seen of it, death is a great equalizer. So, soon they'll be just like eveyone else; no longer men of great privilege who sniff down their noses at the worthless little eaters.

Fri, 05/04/2012 - 19:07 | 2398509 Oh-Globits
Oh-Globits's picture

hoping for the trifecta...buffett, mung-er, and soros all DEAD AS HELL!

Fri, 05/04/2012 - 23:29 | 2398888 percolator
percolator's picture

I'd love to get my pipe carrying, hard hitting niggas with a blow torch and get medival evil on this mother fucking fascist pig.....

Fri, 05/04/2012 - 19:02 | 2398501 goforgin
goforgin's picture

It's amazing that Munger's statement about Jewish families sewing gold into garments is so misrepresented. The uncivilized world was NAZI occupied Austria with many Jews trying to escape with some universal currency to secure safe passage from the NAZI beast.

What he means is that we are living in a civilized world and you're not a Jew trying to escape from the barbarians, so invest your money in something useful instead of 'lump' of metal.

Sat, 05/05/2012 - 12:45 | 2399423 prole
prole's picture

A clever way of disposessing the sheople of their gold before throwing them in a FEMA camp. I see you approve Comrade.

Fri, 05/04/2012 - 19:03 | 2398505 delivered
delivered's picture

Ironic that these statements would be made today, the day BH releases very strong earnings due to their insurance holdings and business interests. Of course ask Mr. Monger or Mr. Buffett the importance of insurance, and they will tell you its essential, can't operate without it, etc. Ask either one about how to insure against the irresponsibilities currently present with Fiscal and Monetary policy and why gold fills this role, they will scoff at you. To me gold's most important current attribute is that it represents insurance against the insolvency and incompetence of the western so called "developed" economies. Economies and countries that by all financial measurements and calculations are bankrupt with broken operating/economic models that are beyond repair.

Doesn't matter if its an individual, business, or country, its just a matter of time and pressure before the debt monster consume the entity. The only real difference is the amount of time these parties have before the debt monster crushes them. For the US, they're just trading up to the next credit card (replacing the old credit cards) buy cramming down debt wherever they can. Use to be internationally but with that running out, they looked to the Fed. The Fed now says no more QE (at least not transparently) so watch for US debt holdings in banks, non-bank financials, as well as retirement accounts (we all know the mandate to hold X% of USTs is coming) to mushroom in the years to come. BTW, isn't this the exact strategy Europe used with their banks (which are now so full of SD garbage the only place they can unload it is with the ECB)? And just look how well it has turned out for them! So when the last credit card finally runs dry, the stated debt (not the real debt which is 5x to 10x higher than the stated debt, but don't worry about applying proper accounting methods as the government is above this) to GDP ratio is 125+% (three years), and the so called leaders finally realize that the capital markets are broken (i.e., capital being diverted from private enterprise to public spending), the US will have its "Greece" or "Europe" moment and finally realize that we've consumed too much, produced too little, and will have to watch our standard of living violently adjust to bring order and balance back (via some type of currency event).

To me, it doesn't matter if you pick gold or silver, productive farm land or fossil fuels, the point is that pure paper based assets are extremely vulnerable to the economic rebalancing that is going to take place (and accelerate through the end of the decade). But given golds historical and global attributes, its hard to not have some portion of your wealth in this asset class. Just too many risks right now at the soverign and central bank levels not to have gold holdings as insurance.

Fri, 05/04/2012 - 19:04 | 2398506 Oh-Globits
Oh-Globits's picture

...gold is a great thing to sew into your garments if you're a Christian family living in America in 2012 with a government run by islamic communists and you are trying to escape the FEMA death camps but civilized people don't buy gold-they invest in FACIST buisnesses

Sat, 05/05/2012 - 12:50 | 2399432 prole
prole's picture

Isn't it funny how your so-called "Islamic" Communist running our .gov has a Jewish mother. Is that the way it works? If your mother is Jewish that makes you Islamic? Some of the other Notable Islamics running our .gov like Ben Shalom Bernanke, Rahm Immanual, Chuck Schumer .. yeah Man those Moslems are ruling us!

Fri, 05/04/2012 - 19:17 | 2398525 world_debt_slave
world_debt_slave's picture

obviously wisdom does not come with age

Fri, 05/04/2012 - 19:26 | 2398533 bshirley1968
bshirley1968's picture

My daddy taught me to respect old men, but I would personally like to put my boot up this old bastard's ass.  What a POS.  It is old bastards like him that have sold their souls to the system that have kept generation after generation in the dark about how he and his kind are really screwing them......every day......all the time......in every transaction of life.

If you are willing to get on your knees, you can make all the money you want.  I'll keep my gold and stand on my two feet and tell the bankers to kiss my ass.  I guess I'll just remain uncivilized like my founding fathers before me who told king George and his bankers to kiss their arse.

Fri, 05/04/2012 - 19:29 | 2398534 UP4Liberty
UP4Liberty's picture

Spoken like a true "STATIST"...

Hey Charlie - for those of us who have absolutely NO TRUST in the "RIGGED CASINO" you espouse, here is my favorite quote from a once reputable individual - Alan Greenspan:

"In the absence of the gold standard, there is no way to protect savings from confiscation through inflation There is no safe store of value. If there were, the government would have to make its holding illegal, as was done in the case of gold. If everyone decided, for example, to convert all his bank deposits to silver or copper or any other good, and thereafter declined to accept checks as payment for goods, bank deposits would lose their purchasing power and government-created bank credit would be worthless as a claim on goods. The financial policy of the welfare state requires that there be no way for the owners of wealth to protect themselves.

This is the shabby secret of the welfare statists' tirades against gold. Deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists' antagonism toward the gold standard."

BTW - F**K YOU!

Fri, 05/04/2012 - 19:30 | 2398542 bshirley1968
bshirley1968's picture

He basically just stated that Hitler was right and that the money grubbing, uncivilized Jews deserved what they got because they should have been investing in the 3rd Reich like good little Nazi's.  What a SOB!

Fri, 05/04/2012 - 19:36 | 2398551 goldstandard
goldstandard's picture

Mr. Munger is either a fucking moron, suffering from dementia, a bigot or all of the above. Say Charlie, why not go sew some Bernanke bucks into your garments and see what they buy you a year from now.

Fri, 05/04/2012 - 19:36 | 2398552 lu86cky
lu86cky's picture

I wonder if Mr. Munger understands creative-destruction properly?  I thought Schrumpeter was referring to the replacement of old technology and process by better technology and process - not lateral transfer of employment based solely on cost of labor.

 

Shipping draftsman stools across the planet certainly doesn't reflect better process. 

 

Perhaps Chinese stools are just superior to US stools.

Fri, 05/04/2012 - 21:41 | 2398750 ajax
ajax's picture

@lu86cky  Re Chinese stools. Not according to Akak who is here to remind us that Chinese stools are all over the roadsides in China and will soon be all over the roadsides across the planet: and they never wash their hands after using their fingers for toilet paper.

Fri, 05/04/2012 - 23:23 | 2398880 percolator
percolator's picture

Charlie Munger is a fucking pedophile he sucks little boys cocks just like Jerry Sandusky, but has more money to keep them quite.

Sat, 05/05/2012 - 12:52 | 2399436 prole
prole's picture

Sandusky just disappears the DA if anyone starts getting too close to the truth.

Fri, 05/04/2012 - 19:41 | 2398558 The game
The game's picture

ITS NO WONDER THIS GUY SEE'S NO VALUE IN GOLD....THIS GUY CAN'T SEE SHIT WITH THOSE COKE BOTTLE GLASSES!

Fri, 05/04/2012 - 19:44 | 2398560 dolph9
dolph9's picture

These old fogies are dying and desperate.

Time to pull the tubes on their asses and shut off the vents and dialyzers.

Stand tall and stack 'em up.

Fri, 05/04/2012 - 19:47 | 2398567 no cnbc cretin
no cnbc cretin's picture

You're right. But I know a lot of smart older folks, who don't have their head up their ass. It's not always an age thing. I also know a lot of young people, who have the head up their ass.

Fri, 05/04/2012 - 19:44 | 2398561 no cnbc cretin
no cnbc cretin's picture

What BS! I hate CNBC, and fools like Becky, she is such a corporate suck up.

CNBC = propaganda!

Fri, 05/04/2012 - 19:50 | 2398574 lead salad
lead salad's picture

Suck a dick Charlie Munger!

Sat, 05/05/2012 - 12:53 | 2399441 akak
akak's picture

Can one suck oneself?

Fri, 05/04/2012 - 19:52 | 2398580 WhiteNight123129
WhiteNight123129's picture

Ah how about the patriotic duty not to use Gold! We hear the same over and over since september 7th 1917!

http://gentlemaneconomics.wordpress.com/2012/04/29/there-is-no-manipulat...

When does Charlie Munger think he was in charge or deciding what is civilization? How about letting people choose what ghey want to do? People do not need you charlie, nor your paper assets.

 

Fri, 05/04/2012 - 19:54 | 2398586 HungrySeagull
HungrySeagull's picture

A gold plated numbskull.

Of course the AVERAGE Joe does not buy Gold... why even bother talking about it.

Oh yes, there is that little question of Patriots stacking metals of all kinds.

I see I came late to the party. Oh well... Story of my world. Deal with it.

Fri, 05/04/2012 - 19:55 | 2398588 The Fonz...befo...
The Fonz...before shark jump's picture

Paper money

Stupid shaved monkey...it takes a god and a piece of a star to make gold.....

Your primitive ass just takes recycled pulp some cotton and pretty designs and ink to Make their garbage

Munger and buffet are worried and the rest of the dumb fucks who pray to become billionaires will get their wish.... When the final death convulsions begin and hyper inflation hits then everyone will be billionaires unfortunatley you will need to be a quintrillionaire to have a chance to survive....

Haha what am I rambling about...must be the 3rd scotch and second spliff...I forgot my point....

Oh yeah

Don't forget to pay your fair share of taxes munger

You money autistic fuck

Fri, 05/04/2012 - 20:10 | 2398608 Money 4 Nothing
Money 4 Nothing's picture

I told you people here at Zero Hedge that you were filthy animals! Stop buying gold and improve your image?

Sounds like the last attempt to remove more Gold off the street to me.

Funny, CME accepts Gold to settle all end of day buissness, peculiar.

Fri, 05/04/2012 - 20:19 | 2398626 Moe Howard
Moe Howard's picture

Fuck that insider trading facist mofo.

Fri, 05/04/2012 - 20:34 | 2398655 lakecity55
lakecity55's picture

OK, but we use the dick of Barry X.

Fri, 05/04/2012 - 20:18 | 2398628 Arnold Ziffel
Arnold Ziffel's picture

Poor Charlie. He is lashing out. Charlie failed to mention the Berkshire did not even beat the S&P 500 for three years straight they said on TV news the other evening.

 

 

Fri, 05/04/2012 - 20:23 | 2398638 Ass to Mouth
Ass to Mouth's picture

When are these old people going to die?  The dude's on his deathbed and he's still trying to be politically correct.  What a sick old man.  Die and do it today.

Fri, 05/04/2012 - 20:24 | 2398640 Ass to Mouth
Ass to Mouth's picture

When are these old people going to die?  The dude's on his deathbed and he's still trying to be politically correct.  What a sick old man.  Die and do it today.

Fri, 05/04/2012 - 21:00 | 2398702 Yes_Questions
Yes_Questions's picture

 

 

When are these old people going to die?

Maybe never.  Though by all appearances, soon enough..

Damn their smoke and mirrors.

Their deceptions.

Fri, 05/04/2012 - 22:08 | 2398784 Ned Zeppelin
Ned Zeppelin's picture

Just another rich sack of human garbage. 

Fri, 05/04/2012 - 20:32 | 2398647 robertocarlos
robertocarlos's picture

You have to think about how close we are in time to WWII. We are far from civilized.

Sat, 05/05/2012 - 12:56 | 2399446 prole
prole's picture

Every day is WW2 in Gaza

Fri, 05/04/2012 - 20:34 | 2398651 lakecity55
lakecity55's picture

Well, now I know where this asshole keeps his gold if I ever run into him. A quick trip down a side alley and his stash is Mine!

Anyone know where this faggot nazi hangs out?

Fri, 05/04/2012 - 20:38 | 2398660 jwoop66
jwoop66's picture

What a creepy, disturbing, Gollum looking fucker...

It's guys like him that will make you hate rich people.

Fri, 05/04/2012 - 20:54 | 2398687 Yes_Questions
Yes_Questions's picture

 

 

Its rich people who want to be as wealthy as him that makes us hate rich people.

 

Someone tell me if I fixed it.

Fri, 05/04/2012 - 20:39 | 2398663 The Fonz...befo...
The Fonz...before shark jump's picture

Haha I heard thet ( buffet and munger) were furious when they saw the movie moneyball

It wasn't what they thought it was about.

Fri, 05/04/2012 - 20:40 | 2398664 Coldfire
Coldfire's picture

Yeah, let's listen to a munger hold forth on what civilized people do.

Fri, 05/04/2012 - 20:46 | 2398673 Yes_Questions
Yes_Questions's picture

 

 

Thanks to fuckers like Munger, the "civilized" are shrinking in number.

Just think of the "employees" of his "friend's" moving business.  The equities market responds favorably to the fleecing of the worker.  Independent Contractors are not fucking Employees, you parasite.

Long pause when Ms. Quick brought out the 'its Washington's fault business is not hiring".  I wonder if that was a mental checklist of who is doing his bidding out there on k Street and 1600.. 

Capitol Scum, he is.  Probably smells like blood and roses.

Fri, 05/04/2012 - 20:46 | 2398674 Seize Mars
Seize Mars's picture

Charlie munger. Charlie, Charlie Charlie. You rat fuck scumbag. Tyler had me at "crony capitalist creep."

Fri, 05/04/2012 - 20:49 | 2398679 Pancho Villa
Pancho Villa's picture

Productive businesses like Wells Fargo and Bank of America? Please remind me: what is it that banks produce?

Fri, 05/04/2012 - 22:29 | 2398817 Money 4 Nothing
Money 4 Nothing's picture

Debt, and an entry point into Ponzi schemes?

Fri, 05/04/2012 - 20:51 | 2398682 ejhickey
ejhickey's picture

Guess I have to go out and buy some more gold tomorrow. Thanks for the inspiration Charlie

Fri, 05/04/2012 - 20:52 | 2398683 ejhickey
ejhickey's picture

Guess I have to go out and buy some more gold tomorrow. Thanks for the inspiration Charlie

Fri, 05/04/2012 - 21:02 | 2398705 Yes_Questions
Yes_Questions's picture

 

 

Don't speak ILL of all Jews:

 

http://www.guardian.co.uk/music/2012/may/04/beastie-boys-adam-yauch-dead...

 

Rest in Peace you Glorious Beast!!

Fri, 05/04/2012 - 21:07 | 2398711 death_to_fed_tyranny
death_to_fed_tyranny's picture

FUCK YOU CHARLIE MUNGER! FUCK YOU BEN BERNANKE! AND FUCK YOU JON CORZINE!!!!!!!!

Fri, 05/04/2012 - 21:19 | 2398730 ZH11
ZH11's picture

O Gold! I still prefer thee unto paper,
Which makes bank credit like a bark of vapour.
~Lord Byron

Fri, 05/04/2012 - 23:31 | 2398735 jmk
jmk's picture

This class differential is not going to end well. There is nothing more dangerous than a man with nothing more to lose and there are uncounted tens of thousands of these being generated every day. There will be blood shed before this ends.

 

Fri, 05/04/2012 - 21:30 | 2398740 MrJingles
MrJingles's picture

What a pompous jack ass.

Fri, 05/04/2012 - 21:30 | 2398741 MrJingles
MrJingles's picture

What a pompous jack ass.

Fri, 05/04/2012 - 21:34 | 2398744 valkir
valkir's picture

Someone,please copy/paste this discussion and send mail to this guy.

Sat, 05/05/2012 - 11:14 | 2399272 Farcical Aquati...
Farcical Aquatic Ceremony's picture

Mail isn't going to solve this.  Guys like this and Edward Conard etc are bullies.  And bullies do not listen to you when you appeal to their good graces.  Bullies only listen when you pop them in the nose.

Fri, 05/04/2012 - 21:43 | 2398752 Reverse Split
Reverse Split's picture

He looks like one of them Sleestaks from "Land of the Lost" http://i2.ytimg.com/vi/uIg4Kz7etFQ/hqdefault.jpg

Fri, 05/04/2012 - 21:46 | 2398755 I am on to you
I am on to you's picture

Oh our portofolio is great,i have a grate distrust in masterpalns,so a portofolio aint his masterplan.

Well he,s five minut to loneliness,and a week to dawn anyway.aint worth the while.

Sat, 05/05/2012 - 08:52 | 2399119 I am on to you
I am on to you's picture

Apologize for mispelings,caught a Munger Germ!

Fri, 05/04/2012 - 21:46 | 2398757 BernankeHasHemo...
BernankeHasHemorrhoids's picture

Can some American patriot just put a bullet in this stupid motherfucker's head?

Fri, 05/04/2012 - 21:50 | 2398758 Youri Carma
Youri Carma's picture
"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"

Ergo: Jewish families who sewed gold onto their garments are not civilized people according to Charlie Munger.

Fri, 05/04/2012 - 23:04 | 2398855 newengland
newengland's picture

His comment is filth, the shallow words of a money grubber who has no care for anything but his bank balance.

Fri, 05/04/2012 - 23:24 | 2398882 P.T.Bull
P.T.Bull's picture

No he said it was appropriate for them to do it then.

Sat, 05/05/2012 - 02:42 | 2398998 AustriAnnie
AustriAnnie's picture

But not now.

Because THIS TIME its different.

Fri, 05/04/2012 - 22:02 | 2398775 ZH11
ZH11's picture

I bet he's trade everything he's got for the ability to get an erection and an hour with that hot little Jewish princess.

Fri, 05/04/2012 - 22:18 | 2398777 Money 4 Nothing
Money 4 Nothing's picture

At least we don't sew our Gold into our Gold-en-slacks.

Give me a needle and thread, pass me a Yamika and call me Yiddish! But I won't leave my family broke Charlie Mungrol.

As a consolation parting gift for your sage advise, we present this to you..

http://media.adamdodson.org/var/resizes/Random/dehydrated%20water.jpg?m=1295272680

Enjoy!

Fri, 05/04/2012 - 22:05 | 2398783 Ned Zeppelin
Ned Zeppelin's picture

Listen. Let's make this simple.  Munger is an incredibly fucked up human who is no stranger to saying immensely stupid things, and who should be shunned and utterly disdained the rest of his natural life, let alone appear on TV for any reason whatsoever. This simple fact is apparent to anyone who listens to his gibberish for more than a few moments. 

Fri, 05/04/2012 - 22:07 | 2398785 warchopper
warchopper's picture

Looks like he has a friend in Mel Gibson.

Fri, 05/04/2012 - 22:10 | 2398789 DoctoRx
DoctoRx's picture

Tyler- If you're still following along, just curious how this number of comments ranks in the ZH annals of most-commented upon posts.

Fri, 05/04/2012 - 22:36 | 2398825 Atomizer
Atomizer's picture

Answer- NO

Sat, 05/05/2012 - 01:35 | 2398968 jomama
jomama's picture

sadly for munger he's not even the best of the worst

Fri, 05/04/2012 - 22:11 | 2398794 Ranger4564
Ranger4564's picture

Apart from the fact that Munger and Buffet are both lying scumbags, we need to remain vigilant to misdirection.  Don't get too focused on currency / money / gold because it may very soon all be worthless.  I'm speaking of Fukushima and other Nuclear disasters. 

What if the Fukushima disaster was at least partly intentional, to pollute the world with radiation.  What if the agenda is to destroy the food source, reduce the world's population, restart civilization with a smaller population?  What if the seed bank in Norway I believe it is, is intended to restock the world's diversity after radiation destroys all life as we know it?

Do NOT follow this link or you will be banned from the site!