warren buffet on the gold standard

It gets dug out of the ground in Africa, or someplace. Then we melt it
down, dig another hole, bury it again and pay people to stand around
guarding it. It has no utility. Anyone watching from Mars would be
scratching their head.

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4 thoughts on “warren buffet on the gold standard

  1. David Cancel says:

    Love it.

  2. Mike Dierken says:

    Gold can’t be counterfeit – there is not crisis of identity.

  3. Rich Shea says:

    as a currency, non-utility is a feature, not a bug. Buffet seems to have been talking about gold as an investment.

  4. The Girlfriend says:

    ditto to shearic

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