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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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Sat, 05/05/2012 - 13:02 | 2399457 prole
prole's picture

Could you please tip me off first when gold is about to become worthless?

TIA

Fri, 05/04/2012 - 22:31 | 2398818 Atomizer
Atomizer's picture

Vee nevar yosed golz to getz thruz kheckpoint Zharle. Vee ask for Zigarette money firzst.

Fri, 05/04/2012 - 22:32 | 2398821 Vendetta
Vendetta's picture

Civilized and thinking people ask why Munger would say such things

Fri, 05/04/2012 - 22:44 | 2398837 Sleepless Knight
Sleepless Knight's picture

Why does this asshole remind me of the torture nazi from Raiders of the lost arc? Looks just like the bastard, only aged since then. Fuck him and his civilization.

Fri, 05/04/2012 - 23:22 | 2398878 P.T.Bull
P.T.Bull's picture

Please, please, Charlie, I'll tell you what you want to know!

 

I know you vill...

Fri, 05/04/2012 - 22:48 | 2398838 israhole
israhole's picture

Holohoax.

Fri, 05/04/2012 - 22:54 | 2398846 q99x2
q99x2's picture

The man's brain must be in worse condition than his face. I'd look into shorting whatever companies he controls and qualify.

Fri, 05/04/2012 - 22:54 | 2398848 Antifaschistische
Antifaschistische's picture

Translation:

Look you idiots, I'll never get anyone to put another cent into our hyper-overvalued BRK stock if they become convinced that gold, or silver, or copper, or oil is a place to park their savings.   The only way you'll make money is by giving it to me - repeat after me...don't preserve wealth with gold, don't preserve wealth with gold..

Fri, 05/04/2012 - 23:01 | 2398853 newengland
newengland's picture

Chump Minger says civilized people don't buy gold, but the jews fleeing Nazis did. The jews fleeing Nazis were right to protect themselves with gold. So is everyone else.

Who is this freak old guy, dismissing the wisdom of ages?  A corporatist shilling for his profits as per Nazis, corporatists and Big Brother?

Fri, 05/04/2012 - 23:07 | 2398863 hadriansnightmare
hadriansnightmare's picture

"deep distrust of master planning"  but loves the Fed- what a kook.

Fri, 05/04/2012 - 23:18 | 2398873 newengland
newengland's picture

He's a bare faced money grubbing liar: a corporatist, a new nazi.

Same old games; new faces.

They call it globalization now; money for the master race, poverty for the many, as per usual.

Fri, 05/04/2012 - 23:17 | 2398871 percolator
percolator's picture

The Grim Reaper can't suck it out of this Fascist pig "Charlie 'Suck It Up' Munger" fast enough!

Will someone do everyone a favor and put a bullet in this fascist's cranium....

 

Fri, 05/04/2012 - 23:23 | 2398876 P.T.Bull
P.T.Bull's picture

I got out of berk and into gld after buffet wrote an op-ed revealing he is a keynesian--just before it tanked--thanks warren! Looks like these two fed-welfare recipients are going to outlive their reputations.

Fri, 05/04/2012 - 23:23 | 2398877 P.T.Bull
P.T.Bull's picture

Munger's the Biden of wall street.

Fri, 05/04/2012 - 23:35 | 2398886 newengland
newengland's picture

Civilized people did invest in business in Germany and elsewhere, but they were forced to flee with gold when the politicians and banks forced their failures on the people, and the investors.

The same is happening today among those who pay attention to politics and economics.

And it is very telling that Buffet's own father wrote about the value of gold, and the liberty it gives the many, contrary to the feckless ways of the few powerbrokers.

Buffet and his Minger are typical of the spoilt generation, the ones who inherited wisdom from their parents, but chose cynical money grubbing ways instead, as the entitlement class; the brats who want all and give little because that would require personal sacrifice and moral commitment.

Sat, 05/05/2012 - 00:01 | 2398912 Harbanger
Harbanger's picture

Inherited Wisdom?  Not.  Inherited wealth maybe, Lord knows it's only fleeting.

Fri, 05/04/2012 - 23:35 | 2398891 percolator
percolator's picture

How about a bounty of this fuckers head? 

Zero Hedge can start a pool where everyone donates money to serve justice on the fascist pigs; Munger, Buffett, Dimon, Blankien, Summers, Geithner, Bernanake, Greenspan, etc........

Sat, 05/05/2012 - 01:33 | 2398966 F. Bastiat
F. Bastiat's picture

Well, you better define "fascism" first; everyone has their own definition. Even the Italians and Germans cannot agree.  Munger appears to be more of a "national socialist", IMO; a modern-day Spengler, if you will.  But not quite - the "Decline of the West" was actually interesting.

Fri, 05/04/2012 - 23:46 | 2398898 Darth..Putter
Darth..Putter's picture

Maybe good ole Charlie would like to describe what the Jewish Holocaust era looked like?

Would headlines like this fit?

FBI renews push for ready-made Web wiretaps

http://www.zdnet.com/news/fbi-renews-push-for-ready-made-web-wiretaps/63...

Fri, 05/04/2012 - 23:56 | 2398906 Venerability
Venerability's picture

Please read what I said on Seeking Alpha about Bwana Munger.

His comments must be played on every TV station and media outlet in India, China, the rest of Asia, the Middle East, Africa, and Latin America.

Stress that he is Warren Buffett's closest confidant. And stress that these Self-Anointed Neo-Colonialists are somehow viewed as heroes in the US and UK markets.

Tie it in to what has been done to Europe and how the "Final Solution" to try to get rid of that pesky Euro threatening the supremacy of Emperor Dollah and the Self-Anointed Pseudo-Elites who depend on it stemmed from a well-publicized - after the leak - meeting of Hedge Fund Capos at a New York private club about 15 months ago.

Let the one-half of the world now striving so hard to sustain the planet's Second Industrial Revolution, which can - and soon will - bring Everyone on Earth into a Universal Bourgeoisie start to understand how maliciously and violently Neo-Colonialists like Bwana Charlie Munger have been working to thwart not only their advances, but even their very cultural identities.

 

Sat, 05/05/2012 - 01:38 | 2398971 F. Bastiat
F. Bastiat's picture

Cut the shit. If you're claiming that Warrent Buffet is an anti-semite; that's very possible considering his association with the Hawaiian Allende.

Fri, 05/04/2012 - 23:58 | 2398908 jmk
jmk's picture

Seems to me all this chatter about gold is making the boyz nervous. If Timmah and Bernank have to resort to trotting out Chuckie Munger to discourage the accumulation of gold we must be getting close to "The Tipping Point". I intend to buy more immediately.

Fri, 05/04/2012 - 23:58 | 2398909 Cosimo de Medici
Cosimo de Medici's picture

Charlie, when a man reaches the Curmudgeon Years, sometimes he needs a subtle reminder.  So here goes……gold is that bling you slip Becky after you and Warren do a three-way with her.  Becky’s the one whose skin doesn’t feel all wrinkled.  Remember?  Yea Baby!

And when you say “productive business”, I can see you have a near term future in, or as, tomato fertilizer.

Fri, 05/04/2012 - 23:59 | 2398911 Dineroguru
Dineroguru's picture

Thank you Charlie!  We now know exactly what the frickin cabal wants to channel to the plebs.  Tell us again why Warren owned a big chunk of the rubber stamp Moodys in the biggest real estate fraud and why he wanted to bail out Goldie to help them continue doing Gods work and oh yea tell us a good bath tub story on why investing in Bank of America-- the shittiiest of the shitty TBTF banks is good for us.  What a couple of sick phoney creeps you are!

Sat, 05/05/2012 - 00:08 | 2398919 gaoptimize
gaoptimize's picture

Creepy. "When everyone thinks the world is going to hell, that's when we like to be buying."  I vote Charlie Munger for greatest fool, and he will offer the last bid before the market goes bidless.  He doesn't realize the depth of the hole we are falling into.

Sat, 05/05/2012 - 00:23 | 2398927 Yen Cross
Yen Cross's picture

 TYLER: THIS THREAD IS BURNT! 

   Focus on Sunday!

Sat, 05/05/2012 - 00:23 | 2398928 penisouraus erecti
penisouraus erecti's picture

Meh, who need gold when there is this available

http://www.wthr.com/video?clipId=7054149&topVideoCatNo=103348&autoStart=true

Sat, 05/05/2012 - 00:35 | 2398932 Seize Mars
Seize Mars's picture

Ugh I am very irritated by this video. That is the most thoughtless, insensitive, mean, stupid - and may I say disingenuous - fucking BULLSHIT. What a fucking jerk. I cannot believe he said that. What the fuck kind of fucking animal is this guy?

UNFUCKINGBELIEVEABLE.

Sat, 05/05/2012 - 01:37 | 2398970 F. Bastiat
F. Bastiat's picture

Run-of-the-mill, actually.  To be expected as Western civilization disintegrates via its own choosing. Wise up.

Sat, 05/05/2012 - 00:42 | 2398939 wee-weed up
wee-weed up's picture

What a fukin' idjiot!

Sat, 05/05/2012 - 00:45 | 2398941 zebrasquid
zebrasquid's picture

Talk about a relic..

Sat, 05/05/2012 - 00:55 | 2398945 BlackholeDivestment
Sat, 05/05/2012 - 01:02 | 2398949 Centurion9.41
Centurion9.41's picture

Munger IS Buffett.  He is the soul of Buffett. 

The old huckster that Buffett wears for the press is no different than http://youtu.be/tdQ3aXO4gys

Sat, 05/05/2012 - 01:14 | 2398954 Sokhmate
Sokhmate's picture

I'd like to move to Vienna and become Jewish.

Sat, 05/05/2012 - 01:34 | 2398967 F. Bastiat
F. Bastiat's picture

No you wouldn''t. But thanks for participating.

Sat, 05/05/2012 - 01:17 | 2398957 theTribster
theTribster's picture

The metaphor of rats getting into the grain storage re the software engineers/investers creating the algos is the best I've heard.

Sat, 05/05/2012 - 11:12 | 2399269 HungrySeagull
HungrySeagull's picture

Tribbles damn it, Tribbles.

Not Rats.

Sat, 05/05/2012 - 01:43 | 2398973 Stuart
Stuart's picture

This is the face of the anti-gold crowd.  The same crowd who feels they are entitled to everyone else's money.   The same crowd who feels secure that they keep the profits and the public takes the risks.  The same crowd that feels the public should consider themselves privileged to even be in the same room with them.  The same crowd that keeps the body intellect that lead to 1776 (actually 1775).   This charlie Monger represents the same crowd protecting Jon Cozine.   This crowd is public enemy #1. I would like to see Charlie and the rest of that rotton nest of vermin hanging from a branch. 

Sat, 05/05/2012 - 02:00 | 2398981 savagegoose
savagegoose's picture

what a smug fuck. in response to  you dont invest in gold you invest in productive business .she asked what productive business do you see right now.  then he bangged on about how  his portfolio is just fucken sweet and dandy.

 thanks for the  tip you smug rich fat fuck

Sat, 05/05/2012 - 02:04 | 2398983 knowshitsurelock
knowshitsurelock's picture

The only thing Munger and Buffet ever did that could rob others and collect money for nothing was buy insurance companies and banks.  Everything else they've touched has turned to shit.

Now, we are supposed to take their advice on what has value because the jig is almost up?  Give me a friggin break.

Sat, 05/05/2012 - 13:54 | 2399539 WmMcK
WmMcK's picture

But you don't see them shorting the "rock", do you?

Sat, 05/05/2012 - 02:22 | 2398989 Bastiat009
Bastiat009's picture

Either to support it or to demean it, no one can deny the fascination for gold. The Buffets of the world spend more time talking about gold, negatively, than about the mountain of debt that will never been paid off (it is just impossible without debasing the fiat currencies) and in which they think muppets should put their money. I find it odd.

Sat, 05/05/2012 - 02:23 | 2398991 reader2010
reader2010's picture

If my memeory is correct, he and his partner in crime sold their poorman's gold holdings at around $4 per ounce back in 2001 or 2002. 

Sat, 05/05/2012 - 03:47 | 2399029 EmileLargo
EmileLargo's picture

CRONY CAPITALISM

Sat, 05/05/2012 - 04:02 | 2399038 keeping appearances
keeping appearances's picture

What Mr. Munger fails to mention is that if the government hadn't stepped in and bailed out Berkshire Hathaway investments in Wells Fargo and given his company sweet heart deals in GE BRK.A and BRK.B would of been in world of hurt.  I would encourage readers to check out King World News and see with Richard Russell (Dow Theory Newsletter)  has to say about the prospects of gold in the coming collapse.   I personally am now in the VXX and SDS along with other resource positions.... along with lead and other steel and Iron products....  get prepared.

 

Sat, 05/05/2012 - 04:30 | 2399044 e2thex
e2thex's picture

Remarkable.

People shut this man down after the first ten minutes.   Nothing more that he said held any value? The next twenty-six minutes was drivel? His analogy of "rats in a granary" didn't hit the mark? 

Sat, 05/05/2012 - 13:45 | 2399522 WmMcK
WmMcK's picture

I think it's been a while since he's seen such running.

Sat, 05/05/2012 - 06:03 | 2399060 nick howdy
nick howdy'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 - they invest in productive businesses."

That's why central banks aren't buying gold?...But they are...Maybe they know that this "civilization" has been developed with a gun pointed in the face of humanity..

Buy gold, Buy Silver..Better then playing his game with devalued paper... This world is civilized with these people in control? It's not...

According to this generational cycle we are in it's only about 1931-32...We haven't gotten to the point where we are going to let a man like Hitler take power again...But we will.  

 


Sat, 05/05/2012 - 06:36 | 2399069 Gatts
Gatts's picture

What a fossil.  Like watching paint dry.

Off to the megolomaniac dementia ward for you sir.

Sat, 05/05/2012 - 07:03 | 2399071 NuYawkFrankie
NuYawkFrankie's picture

Can't wait 'til Charlie's remake of The Sound of Music comes out!

 

SPOILER ALERT !

Apparently the main character - yes, an adorable Julie Andrews look-alike played by Charlie in drag - is able to skip over the refugee-infested Swiss border with the von Trapp brood of  by stuffing  a rolled-up assortment   of Credit Default Swap contracts (both Squared & cubed) - of soon-to-be-defunct European countries - down the front of Herr TSA Commandant's lederhosen (artfully played by an ever-so-butch-looking Janet Napolitano).   I can also divulge that Warren makes a cameo-appearance as the forger of said CDS contracts which the escaping Jews et al. gladly exchange for any worthless gold they might have hiidden under the passenger seats of their Yamahas

 Hello!!! Can you say Win/Win Situation???

Sat, 05/05/2012 - 15:48 | 2399729 CitizenPete
CitizenPete's picture

You are not a number!

Sat, 05/05/2012 - 18:05 | 2399968 NuYawkFrankie
NuYawkFrankie's picture

Who is No. 1?

Sun, 05/06/2012 - 09:46 | 2400560 TheFourthStooge-ing
TheFourthStooge-ing's picture

You are number six.

 

Sat, 05/05/2012 - 06:54 | 2399072 claycalhoun
claycalhoun's picture

Munger is a closet socialist,his ideas to control peoples lives with confiscatory taxes is nonsensical, the answer surely is make people accountable for their actions, keep governments out and let businesses fail if they are not viable

Sat, 05/05/2012 - 07:03 | 2399077 Marty Rothbard
Marty Rothbard's picture

Charlie Munger can't help being a lying, senile, asinine, idiot.  He probably has an old style barbeque pit, built of LBMA compliant bricks in his back yard.  CNN can, however, not put the book talking blowhard on their set.  Fuck CNN, and their Money Honeys too!   Why not have a friendly, agreeable sit down with someone who knows what they are talking about, like Ron Paul, or Lew Rockwell.  By the way, Charlie, learn to pronounce Ayn Rand's first name.

   Please note.  A middle class American, and a 1939 Austrian Jew, are both in eminent danger of getting fleeced, raped, tortured, and killed by a bunch of lying, evil, funny looking, fascist, perverts.  Sewing gold coins into their clothing is a good idea for both of them.  Moving to Switzerland isn't a bad one either.

Sat, 05/05/2012 - 13:39 | 2399510 WmMcK
WmMcK's picture

Hey, watch out -- Maria B. has trademarked "Money Honey"
And don't squat on "Econo Babe", either.

Sat, 05/05/2012 - 07:23 | 2399083 zonetraders
zonetraders's picture

http://capital3x.com/the-code/ Check out the bond market Indicators for retail. 

 

 

Sat, 05/05/2012 - 21:53 | 2399088 rufusbird
rufusbird's picture

Old Charlie says the same things in such a fashion that he sounds like he is so tired, so tired, (gasp) and is using one of his last dying breaths to answer Becky's questions. Because of his demeanor and Becky's deference, he comes off like an elder statesman expressing the views of the entitled.

 

Sat, 05/05/2012 - 08:16 | 2399102 tradewithdave
tradewithdave's picture

Barbarians at the buffet....

I've been CEO of seven start-ups in thirty years, employed hundreds of people and spent my entire life investing in productive businesses.  Since about 2007 I haven't been able to find one single business model or investment that I would describe as legitimate that wasn't based on State regulation, government contracts or almost entirely in technology.  By their very nature tech investments have a built-in and accelerating feedback loop of creative destruction and often require programming skills not necessary in mainline business.  A few years ago I took a good hard look at Warren and Charlie's portfolio and here's my recollection.

Dilly Bars from Dairy Queen, oversized recreational vehicles for pensioners, chocolate candies, home furnishing companies whose capital structure was either wounded by NAFTA or now acting as distribution points for the Chinese factories, railways that distribute low-cost products shipped from Asia to the West Coast (not to mention clean coal) and insurance companies that are a entirely a function of regulatory scale.  Throw in some TBTF banks stocks and payday lending to GE/Goldman post-Lehman and your own private jet company and that pretty much wraps it up.  He did own a company that made scissors that I liked. 

There's no denying the role that strong hands play against weak hands in a capitalist market, but when your deals are greased by the State, that is by definition fascism.  Buying chains of jewelry stores sure looks to me like "tailoring" a precious metals hedge into your jacket lining under the guise of a productive business.  Sorry Charlie, but this is what American business has come to.  Take a good look because there's no way this can last.  Every dog has its day, every Dairy has its Queen and just because it's sound doesn't mean its music Julie Andrews. 

Quick Becky... time to find a new point of interest outside the general aviation lounge in Omaha. 

Dave Harrison

www.tradewithdave.com

Sat, 05/05/2012 - 09:04 | 2399126 NuYawkFrankie
NuYawkFrankie's picture

Great deconstruction of the Buffet Investing Mystique ;)

Sat, 05/05/2012 - 09:56 | 2399165 Jim B
Jim B's picture

Buffet the quintessential crony capitalist or fascist! 

Sat, 05/05/2012 - 08:22 | 2399104 William113
William113's picture

What ole Charlie is really saying is jews go out and hoard gold because we fucked it up again.

Sat, 05/05/2012 - 08:29 | 2399105 krispkritter
Sat, 05/05/2012 - 08:31 | 2399109 ZackAttack
ZackAttack's picture

Christine Romer's thesis is that it was gold fleeing Europe for America in the late 30s that strongly contributed to the US's emergence from GD1.

Too lazy to look up the cite, but the dollar amount of gold was roughly equivalent to the entire M1 money supply in the US at the time.

Sat, 05/05/2012 - 08:50 | 2399117 riphowardkatz
riphowardkatz's picture

"and derivatives are weapons of mass destruction"

1Q profit more than doubles at Warren Buffett's firm as insurance ...

https://www.google.com/images/nav_logo107.png); background-attachment: initial; background-origin: initial; background-clip: initial; background-color: initial; background-position: -25px -110px; border: 0px initial initial;" title="Recommend this page">‎
Washington Post - 14 hours ago The swing in the value of Berkshire's derivatives contributed to an overall gain on investments and derivatives of $580 million.

Sat, 05/05/2012 - 09:38 | 2399131 Money 4 Nothing
Money 4 Nothing's picture

Char-lie "fear" Mongor..

Gold.. The 5,000 year old Barbaric metal that has stood the test of time, has been used to peg Nations currencies, trade and set the Precidence for recognizing Global Nations Supremacy the world over.

Other than that, it's garbage and folly to invest in such an Ore. Invest in T-Bonds, Google or the NYSE for a better return. What do you think we are anyway? Muppet's? /sarc

A Real Quote from CNBC interview yesterday:

"The USD is as good as Gold, After all, you have to use USD to buy Gold so why not invest in the USDX instead?"

They were interviewing some Ivy League moron about the investment of Gold and weighing the pro's and con's,he bashed it also. The interview was at about 2:00 EST.

Sat, 05/05/2012 - 13:34 | 2399504 WmMcK
Sat, 05/05/2012 - 09:35 | 2399144 MFL8240
MFL8240's picture

Another front man for the US Federal Reserve.  Fuckin clown!

Sat, 05/05/2012 - 09:54 | 2399159 evolutionx
evolutionx's picture

HYPERINFLATION WILL DRIVE GOLD TO UNTHINKABLE HEIGHTS

We now live in a world where governments print worthless pieces of paper to buy other worthless pieces of paper that combined with worthless derivatives, finance assets whose values are totally dependent on all these worthless debt instruments.  Thus most of these assets are also worth-less.

More

http://www.mmnews.de/index.php/english-news/7063-hyperinflation-will-drive-gold-to-unthinkable-heights

Sat, 05/05/2012 - 11:05 | 2399249 WmMcK
WmMcK's picture

Linking Egon von Greyerz, good -- but please reduce the font weight.

Sat, 05/05/2012 - 10:12 | 2399174 TerraHertz
TerraHertz's picture

Someone invite Charlie to lunch. A big serving of delicious healthy Fukushima garden salad.

Sat, 05/05/2012 - 10:22 | 2399188 TrulyStupid
TrulyStupid's picture

Historically as people became civilized (that is they began to live in cities and creat civil societies), the use of precious metals as money and a store of value arose. Silver coins (and later, copper) became the medium choice for everyday transactions and gold a store of wealth. Remarkably, this phenomenum occurred in geographically isolated early civilizations at different times. The Incas, Aztecs, Egyptians, Chinese (they also liked jade) and the early mediterranean international traders adopted PMs as money.

Gold as money is a hallmark of civilization, not a holocaust era exception. Munger is an arrogant sociopath who has profited greatly from the age of inflation and his preferential access to the money spigot. His place at the top of the chain letter has been fruitful to the point that he mistakes his own paper for money!

Sat, 05/05/2012 - 10:30 | 2399192 DanDaley
DanDaley's picture

People like Munger hate gold because a gold standard prohibits dishonesty to a much greater degree.  Gold makes it somewhat harder to steal vast sums from the common people.

Sat, 05/05/2012 - 11:54 | 2399346 WmMcK
WmMcK's picture

Mono-Atomic Gold Is A Great Thing If You Want To Use Sound Vibration And Electricity To Combine rDNA Of Different Species And Organisms… oops, wrong thread.

Sat, 05/05/2012 - 10:39 | 2399202 TapperIsTicked
TapperIsTicked's picture

"Ol Charley likes the scene playing in the rear view mirror. I prefer to drive with my eyes on the road ahead.

Sat, 05/05/2012 - 11:00 | 2399238 khakuda
khakuda's picture

Man he thinks some stupid stuff. So does Buffett for that matter with his continued endorsement of a socialist president.

The hypocrisy of someone always voting with his party no matter the candidate or his ideas is beyond description.

Sat, 05/05/2012 - 11:56 | 2399347 georgepazol
georgepazol's picture

Guys, he assumes that all things are normal around us. WE ALL live in the USA (am in Greece where the Central Bank has run out of Gold Sovereigns due to demand), we all have access to bankster capital and  the big AND the debt house of cards will not collapse on our heads. Tell him to go and do business in Colombia, or to come to friendly Greece. Maybe Bulgaria is better for him or even Russia, where they keep on buying gold like crazy preparing for the convertibility of the Rouble into XAU.

Regards

Sat, 05/05/2012 - 12:13 | 2399377 Firing Pin
Firing Pin's picture

BUYING THE "SPY" WOULD HAVE OUTPERFORMED MUNGER FOR THE PAST 3 YEARS. PUT THAT IN YOUR PIPE AND SMOKE IT YOU ARROGANT ASS MUNGER. 

Sat, 05/05/2012 - 13:15 | 2399476 WmMcK
WmMcK's picture

So would have "buying" gold.
Either the S&P 500 needs to fall to ~ 300,
or gold needs to go to > $5000/oz,
or the ratio is way out of whack --
(you do the math ...
and not just based on 30 yr old extremes in the other direction. YMMV, just saying. And stop shouting, too.
Happy 5/5, avoid the hangover.
There should be a 1000 posts on this thread by now.

Sat, 05/05/2012 - 15:42 | 2399724 Firing Pin
Firing Pin's picture

Thanks, I'll shout at Munger if I want, because I'm sure he's currently reading this thread.  LOL. Munger, by buying basically large-cap companies competes against the SP500. He's so smug, and yet he has underperformed his pseduo "peer-group"  Believe me, you don't have to make the case of SP500 vs. gold...I am a gold owner. You read too much into my comments. Happy Cinco. 

Sat, 05/05/2012 - 12:30 | 2399408 genericwaz
genericwaz's picture

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You need to hear of my bona fides? Telephone Mrs Victoria Menzies at Bursar Office and ask about the Larry Kiwesi Frimpong bonas.

Sat, 05/05/2012 - 12:43 | 2399420 WmMcK
WmMcK's picture

Calling Mr.Baimaru Salu ...
And now batting for Pedro Borbon -- it's Manny Mota.

Sat, 05/05/2012 - 13:01 | 2399451 SILVERGEDDON
SILVERGEDDON's picture

Even a blind pig can find an acorn. Charlie found Warren. He is a one trick pony. Usually, people of his ilk are the " Do as I say, not as I do " crowd. All bets are on gold as the way to go, thanks to Charlie's affirmation in the double negative. Another paper zombie speaks - BFD. Now, go out and BTFD's, bitchez !

Sat, 05/05/2012 - 13:18 | 2399482 WmMcK
WmMcK's picture

So that's my problem --
I've been trying to use (blind) squirrels to get my nuts.
Now going long PI(I)GS and mint juleps on Cinco de Mayo.

Sat, 05/05/2012 - 15:14 | 2399679 NOPOMO
NOPOMO's picture

All of you who would like to join the civilized ranks, you can do so by sending me your gold.  If you are interested, please respond with your email address and I will reply with my physical address.

Sat, 05/05/2012 - 16:13 | 2399771 rbblum
rbblum's picture

Somehow, there is a very eery feeling that the individuals who are so adamantly opposed to gold are the very ones who are so actively involved with financing the interests of world governance . . . . with the current (BANKRUPT) financiers at the helm.

When plunder becomes a way of life for a group of men in a society, over a course of time they create for themselves a legal system that authorizes it and a moral code that glorifies it. - Frederic Bastiat 

Sat, 05/05/2012 - 19:27 | 2400074 Tuco Benedicto ...
Tuco Benedicto Pacifico Juan Maria Ramirez's picture

Berhsire Hathaway Companies received $95,000,000,000.00 in 2008 TARP money!  Warren Buffet should be hung from a white oak tree ice cream cone and all!!!!!!!

http://reason.com/archives/2012/02/09/warren-buffett-baptist-and-bootlegger/singlepage

Sat, 05/05/2012 - 20:03 | 2400118 stopthejunk1
stopthejunk1's picture

What he meant is that civilized people do not buy gold as an investment.  He is correct.

However, civilized people DO buy gold as insurance.  You can get your ass that Buffet has a safe full of gold coins.  No civilized person with the means to buy insurance against calamity goes without said insurance, period.

Of course, civilized people are also brave, which means they avoid saying things that will alarm others.  And certain "civilized" people are also nefarious, and will deliberately say things to pacify and disarm us miserable hoi polloi, so that they can more easily depredate us.

Mon, 05/07/2012 - 11:19 | 2403429 bshirley1968
bshirley1968's picture

Just remember this, you old bastard, when you send your brownshirts to get my "worthless relic" because they have made a mess of their "civilized" investing, the second group may get it after they remove the bodies of the first group.  Won't see me like a little lamb going to some ghetto to be loaded on a train to be cooked in some oven so you can confiscate my personal property to perpetuate your bs life.  Better be sure you are far out of reach because I'll be coming for you when the shooting starts.

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qiongqiong's picture

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