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Buffet Hates Gold

By Richard Russell

 

Gold is the ultimate anti-Federal Reserve item. The Fed cannot create inflation by producing more gold, nor can the Fed create deflation by reducing the quantity of gold. The Fed hates gold because it cannot control it. Gold represents pure wealth.

 

Warren Buffett hates gold because he is in the business of compounding. And since gold throws off no interest or dividends, it is not possible to build wealth through compounding with gold.

 

Turning to the markets, I’m wondering whether the Chinese crash will put a top on the price of many collectible assets such as art and real estate.

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At my tender age, I spend a lot of time in bed and I read an awful lot. An article I just read stated that Generation X and Millennials (18-36) are moving back in with their parents at a rate that hasn’t been seen since the Great Depression. 

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