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To: Simon Foxx

I was listening to Warren Buffet and he said, (Words to the effect.) “Own a stock and you own a piece of something that produces an income. Own gold or Bitcoin and you own something you hope someone else will buy from you at a higher price. (Often called the “principle of the bigger fool.”) If you go back to the time of Christ and move forward, you’ll see that gold has simply kept pace with inflation. Put a dollar in and later, after inflation you’ll get the same purchasing power back.” I actually don’t think that’s true of bitcoin. I think it’s being held up by hope. It’s the modern equivalent of tulip bulbs.


12 posted on 01/22/2022 10:49:23 AM PST by Gen.Blather (Wait! I said that out loud. Sorry.)
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To: Gen.Blather
(Often called the “principle of the bigger fool.”)

If you buy either gold or bitcoin, you are buying it from someone else. They are giving you this commodity... and all they want in return is your "fiat money."

There is an expression in poker - When you sit down, look around the table, and see if you can spot the sucker. If you can't, the sucker is you.

16 posted on 01/22/2022 10:58:49 AM PST by Fido969 (45 is Superman!)
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To: Gen.Blather
“Own a stock and you own a piece of something that produces an income.

This presumes you own a dividend paying stock. I'm not sure what percent of stocks pay dividends.

28 posted on 01/22/2022 11:55:14 AM PST by aMorePerfectUnion (Fraud vitiates everything ᡕᠵ᠊ᡃ࡚ࠢ࠘ ⸝່ࠡࠣ᠊߯᠆ࠣ࠘ᡁࠣ࠘᠊᠊ࠢ࠘𐡏⁻ )
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