Posted on 08/18/2020 8:45:37 AM PDT by Red Badger
I think he knows that Trump will win and the Democrats will say he cheated and burn down all the cities. Trump will have to implement martial law and station troops in the cities.
Buying shares in a mining company is really NOT the same as buying gold bars.
Nevada State Legislature in Special voted to dd more taxes to all the mining in Nevada.....
Barrick has more than one location in this state. Battle Mountain is literally being torn down to recover the gold there.
IF I owned ANY kind of mine in Nevada, I would curtail ALL my operations down to nearly nothing so I wouldn’t have to pay the new taxes. Cannot tax what I ain’t producing......And the gold will still be there when the tax gets pulled back.
“Buffet thinks Biden will win. This is the only reason I can see for this play and what does “it say about his expectations for a Biden presidency?
Or he thinks Trump will win and that will signal years of riots etc and/or the trillions spent on stimulus have made gold stocks a good hedge (and a safe one).
Buffet doesn’t “know” anything any more than you or I know what is going to happen.
And get rid of, or secure debt at a low rate.
So he concluded it doesn’t matter who wins, GOLD goes up. (Referring to both the company and the commodity)
What's his time horizon?
He shouldn’t be buying any green bananas.................
No of course it isn’t the same as buying gold bars, but nobody is going to buy gold mining stock without an eye towards higher gold price.
Perhaps he is buying for the dividend increases.
My point is there is a great difference between owning gold bars and gold stock with the former being almost useless for the purpose people buy them for which is they believe after the apocalypse they will somehow be able to buy “things” with it such as food, water clothing etc..
If you want to know what Buffet thinks about gold - read what Howard wrote in 1948
Warren’s father was a US representative from Nebraska. He described the situation we are experiencing right now quite simply and succinctly. He did allow that with the strength of our system, our economy, that it would take a while, but he was very prescient. Or at least honest enough to publicly state what would happen. Even Ray Charles could see what was gonna happen.
Warren knows too, undountedly. At some point everybody is read the riot act about acting in the American people’s interest. And everybody never speaks of certain things again.
Howard’s thesis here is that Human Freedom rests on sound money, an honest unit of account, and that printing press money always always ends in widespread misery.
Well ... OK....
But then, if gold as you say is useless in your scenario, dollars would be of no benefit either, to say nothing of stock shares, so I’m not sure what your point is.
Well ... OK....
But then, if gold as you say is useless in your scenario, dollars would be of no benefit either, to say nothing of stock shares, so I’m not sure what your point is.
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When the average guy buys gold (coins,bars,etc) in anticipation of the apocalypse he anticipates trading that gold for things which will keep him alive (food, water)but who would give up a can of beans which can be eaten for gold coins which are useless?
In the end times we will revert to bartering.
I fear the next year. There are no safe bets for storing your wealth. Particularly alarming are the ones saying that cash will be dead and replaced by digital currency controlled by government. Say goodbye to 100s, 50s and 20s when you have to give them up at greatly reduced values with a deadline, after which they're worthless.
In a way he did buy physical gold. It is in the ground.
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