Gold: Buffett negative on gold, no surprise

April 18, 2013

Dick's note: "Now that equities are back in favor, it only makes sense that Buffett would 'caution' investors to avoid holding gold. Those who want to see a continuation of the current system of fiat money, statism, and illegitimate government tyranny might say the same."

(Bloomberg - "Buffett Mocking Gold Sidesteps Slump As He Bets on Stocks") Investors including hedge-fund manager John Paulson faced losses this week as gold suffered its biggest rout in three decades. Warren Buffett told them there were better places to put their money. The billionaire chairman of Berkshire Hathaway Inc. cautioned against investing in the metal in February 2012, when an ounce sold for more than $1,700, because it's not productive like a farm or company.

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