Posted on 11/04/2009 8:06:22 PM PST by SeekAndFind
You might think that Warren Buffett's $34 billion bid for the rest of Burlington Northern Santa Fe ( BNI - news - people ) is the most eye-catching investment decision of the day. While the Oracle of Omaha's bullish bet on America is hardly insignificant, I would like to direct your attention half a world away and ostensibly in a different investment medium: spot gold.
India's central bank bulked up that nation's gold reserves by 55% with the purchase of $6.7 billion worth of gold from the International Monetary Fund, which is selling gold reserves to raise funds for lending to poor nations. The move is already profitable, as the Indians bought their gold at prices averaging around $1,000 an ounce. Gold closed at a record $1,085 an ounce Tuesday in New York. The big buy from India follows months of huge gold accumulation by Chinese authorities, as well as hedge fund operators like John Paulson and others amid growing anxiety about the viability of the dollar as the world's reserve currency.
Instead of turning to gold, Buffett sees Burlington Northern as a growth vehicle to earn more on the billions in cash Berkshire has on its books carrying coal, wheat and other resources across the nation.
India, by comparison, is making a direct bullish call on gold, just as China, its major rival in Southeast Asia, did some months ago. Many experts believe China or Russia may buy the remaining tons of gold IMF wants to liquidate.
Make no mistake about it: Central banks have not been liquidating their gold. This sale by the IMF is therefore an extraordinary event at a time when there is little gold supply to meet the burgeoning demand by investors wary of paper currency.
(Excerpt) Read more at forbes.com ...
yeah and wheelbarrows, too.
Buffett would sell out his children for a buck.
Warren Buffet, BIGGEST HYPOCRITE EVER. He’s one of those Liberals who think the rich should pay more taxes, but HE DOESN’T. In fact he trying to minimize his taxes as much as possible
http://www.youtube.com/watch?v=LAHkVytgQak
Peter Schiff on Warrent Buffet
we need a winfall profit tax on bershire haffaway (warren buffet)
Like most rich liberals, he relies on people not knowing the difference between income and wealth.
And that's why we tax income and not wealth.
I sometimes think a national property tax would be superior to a tax on income.
Buffett is a profiteer who plays the govt game, the float on insurance premiums he collects and any other angle. He is a slightly more benign Soros. He is also a known adulterer like Newt Gingrich. Even Bill Gates when he first had dinner with him thought it was weird.
national sale tax is better, but a national property tax debate will certainly make ppl think about the difference between income and wealth. Why do we want to tax income. We want ppl to be productive and taxing someone’s ability to become wealthy is wrong. Also we want a society which encourage saving and less consumption, so we tax consumption
And, Oh boy oh boy, if we introduced a property tax, the rich ppl WILL START COMPLAINING. They don’t care at moment, because RICH PPL dont pay income taxes
Are we coming full circle? America ending up where it started, commodity-supplier to the world?
No, not that it’s any of your business, but his wife Susan had an affair with a tennis coach in Omaha and then moved out on him to San Francisco where she continued to keep a series of “friends”. He was so devastated by her leaving, *she* set him up with the woman that he would be with for 30 years and who became his second wife, Astrid. Although he and Susan remained married so that he could retain his control of Berkshire Hathaway without having to split the value of the estate in a divorce, the arrangement was not a secret and anyone who knew anything about what happened didn’t consider him the adulterer.
All you’ve done is accuse him of being intelligent by taking the time to understand tax law and then made an incorrect presumption of his private life based on half of the facts.
He is a far cry for George Soros. The world, it could be argued convincingly, would be better off without Soros. Warren Buffett is one of the greatest Americans to ever live, despite some of his social views.
He is a parasite on taxpayers backs who asked for a bailout on reinsure after 9/11. He is also a fervent Obama supporter.
He also has an exemption from SEC reporting requirements.
Compliments of Karl D at Tickerforum.org
http://findarticles.com/p/articles/mi_qn4182/is_19970825/ai_n10110772/
Uncle Warren is not as smart as he seems when he plays in a rigged game.
Buffett plays a rigged game like Goldman Sachs. He is a crooked b*stard.
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