WOW - Famous gold-phobic Warren Buffet is BUYING GOLD

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Text Drivers are Killers

Joe Biden - "Time to put Trump in the bullseye."
This is truly startling. He bot over a half billion dollars of Barrck.!!! I bot some of this company a few months back - symbol GOLD.

https://www.kitco.com/news/2020-08-14/Warren-Buffett-buys-gold.html

aug 14 2020 Long-time precious metal bugaboo, Warren Buffett, loaded up on Barrick Gold (NYSE:GOLD), according to a Berkshire Hathway 13F released today.

Buffett bought just under 21 million shares. Current stake is worth $563 million.

Buffett can move stocks. Barrick traded down 0.59% to $26.99 today. However Barrick shot up after hours when the news broke, and the stock hit $29.

The only other resources stock listed within the Berkshire Hathway 13F was Suncor Energy. Buffett increased his holdings of Suncor, adding 28.45% or 4.25 million shares.

Buffett shed airline stocks, such as United Airlines and American Airlines. He also reduced holdings in financial institutions such as JPMorgan and Wells Farso.
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Barrick is the closest you will get to a pure play in gold mining. At least among big companies. Like many people i don't trust the ETF GLD. They don't actually have the gold. They "buy" gold that is stored in some bank and it stays there!!. Mining stocks are much safer.
 
I'm personally not a fan of precious metals. I'm sure that people who are educated in that particular area are wise to invest in it.

Most anyone I ever talk to, however, always claims hoarding gold and silver is important in case the government collapses and our currency becomes worthless. I'm very certain, however, that gold and silver will also be worthless under a state of anarchy, because, all they are is older mediums of exchange.

While they retain a luxury value, that's the only thing truly distinguishing them.
 
Chaz said:
I'm personally not a fan of precious metals. I'm sure that people who are educated in that particular area are wise to invest in it.

Most anyone I ever talk to, however, always claims hoarding gold and silver is important in case the government collapses and our currency becomes worthless. I'm very certain, however, that gold and silver will also be worthless under a state of anarchy, because, all they are is older mediums of exchange.

While they retain a luxury value, that's the only thing truly distinguishing them.
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Gold is also a store of value and you can't print gold. It's rare and always will be.
 
Text Drivers are Killers said:
This is truly startling. He bot over a half billion dollars of Barrck.!!! I bot some of this company a few months back - symbol GOLD.
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Liberal assholes. Everyone knows the best commodities in an apocalypse are ammo and toilet paper. Remember how much gold buying there was a couple of months ago compared to toilet paper? If the Apocalypse comes, you'll be trading solid 1 0z gold coins for a handful of 9mm.

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Duh. Mr. Owl bought gold (well, certificate things that he tells me are not actual gold nor can you go to a Gold Depository and turn them in for ingots or something that you can wisely keep under your bed) when the TrumpPlague first began. I was like WHY???? Not because the price of gold rises when the markets fall, historically. Nope, I was mad that he didn't buy them when the market tanked like everyone else, but when it started to rise. For some reason this genius knew that this recession would work differently and the price of gold would rise in tandem with the markets. He's freaky that way. You would be wise to learn from him.
 
ThatOwlWoman said:
Duh. Mr. Owl bought gold (well, certificate things that he tells me are not actual gold nor can you go to a Gold Depository and turn them in for ingots or something that you can wisely keep under your bed) when the TrumpPlague first began. I was like WHY???? Not because the price of gold rises when the markets fall, historically. Nope, I was mad that he didn't buy them when the market tanked like everyone else, but when it started to rise. For some reason this genius knew that this recession would work differently and the price of gold would rise in tandem with the markets. He's freaky that way. You would be wise to learn from him.
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It's playing the market like anything else. I've done the same in the past, but prefer to gamble on the Internet for much smaller amounts than an ounce of gold. :)
 
Text Drivers are Killers said:
Gold is much much more compact than toilet paper. A 4 inch cube of gold is worth over a million bucks. A million dollars of TP would fill a house.
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Do you understand that "a million bucks" isn't worth anything in an Apocalypse unless you're talking a herd of deer? It weighs about 45 pounds, you can't eat it, maybe you could use a coin to scrape your asshole bu so could anything else. Ammo in common rounds such as 9mm, .45, .38, .223, 7.6x39 and 51 would be much more useful for bartering and trading.

Example; you want to buy some vegetables from a guy; is it easier to give him a couple of bullets or take an ax to a gold coin? .....that's if he takes it. "I don't take jewelry. Only things I can use."

Then, of course, there's the nasty scenario of the guys with the ammo just taking the gold and using it as fishing weights.
 
Text Drivers are Killers said:
What are you saying.? That we will soon be able to turn other elements into gold?? That was done decades ago but it's way too expensive . Like a billion dollars an ounce.
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Due you understand how fusion works? Remember how the first flat screen 48 inch televisions were $10,000? Now they are on sale at Walmart for under $400. The first Betamax was ~$2000 in 1975 which is about $10,000 today. When VCRs gave way to DVDs, they were selling for $50 new.

Technology and mass production are game changers.
 
Grajonca said:
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Bought some Barrick (GOLD) earlier, just waiting for the market to open.
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Ahh, that's right. You've chosen to live in a Third World Shithole under a dictatorship with a psychotic king so you can't buy guns and ammo.
 
Public billionaires are fleeing for safe havens on Trump's watch? Fail.

That settles it. I'm voting for Joe!

Thanks!
 
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