Charlie Munger is Out of Touch
By Greg Hunter’s USAWatchdog.com
You haven’t heard much from Charlie Munger (Warren Buffett’s right hand man) since he said this, a few years ago, about the massive bailouts the financial system received from taxpayers and the Federal Reserve: “So I think when you have troubles like that you shouldn’t be bitching about a little bailout. You should have been thinking it should have been bigger.” And for those not doing so well in the downturn, the 86-year old Munger says “suck it in and cope.” Now, Mr. Munger is back, and he doesn’t like gold. Well, I don’t like massive money printing to bail out companies and the financial system. I think this is why many people are kind of partial to an investment that has a 5,000 year track record. Of course, all the bailouts benefited Munger, Buffett and the Berkshire fund they run. (Click here for more.) Chris Duane of TheGreatestTruthNeverTold.com put together a little video that puts Munger’s negative comments on gold into perspective. Please watch and enjoy the video below:
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About the Author
Greg Hunter
Greg is the producer and creator of USAWatchdog.com. The site’s slogan is “analyzing the news to give you a clear picture of what’s really going on.” The site will keep an eye on the government, your financial interests and cut through the media spin. USAWatchdog.com is neither Democrat nor Republican, Liberal or Conservative. Before creating and producing the site, Greg spent nearly 9 years as a network and investigative correspondent. He worked for ABC News and Good Morning America for nearly 6 years. Most recently, Greg worked for CNN for shows such as Paula Zahn Now, American Morning and various CNN business shows.
What can we say Greg but just WOW. So many facts against so much fiction and the lemmings keep on running. We are to the point of prayer for the future of our country and hold on for the ride. Great reporting Greg. You find the best stuff in the world and bring it to the masses. Thanks again. Phil
Thank you NC for the support and comment.
Greg
Nothing like a billionaire telling you to ” suck it up and cope “…….what a JERK!!!!
Thank you Barrett and Barry!
Greg
These old scum bags have sold their soul for a bit of wealth and power. It won’t be long before old scratch collects….
Ah! Charlie and Warren remind me of the two old Geezers on the Muppet Show. Both know they will most likely be dead by the time it all goes south. They will not have to suck it up and cope with it.
True arrogance in my book. You know they have some precious metals tucked away somewhere for as true investors, a balanced portfolio involves precious metals and I am sure they are not stupid men. If not for themselves, it would be for those left behind. After all they contribute to the problem and should have a better insite of future markets. If memory serves me, the strange thing is that Warren brought silver at $7.00 and sold at $9.00, the 130 million ounces to launch the SLV fund that Rolling Stone now states is leveraged 100 to one. Was Warren forced to do this act? Is there an underlying position to discourage buying precious metals, drive the price down, to be brought up by the wealthy. At the same time to make people destitute and unable to buy at a lower price. In effect to monopolize the metals market for the rich. The depletion of the silver bullion war reserve, the inability to audit the gold at Fort Knox and assay the gold bars for tungstun centers, (reported by the Chinese Bank) and the repeated downtroding of gold by the talking heads on the news, are the caution signs. Interesting enoungh is as Warrens says, all the gold would fit into a space of a tennis court, the amount of our paper debt would reach five miles high of hundred dollar bills in comparison. Hmmmmmm. Gold pays no dividens. Dividens eaten away by inflation.
Great Video.
Is it just me or have Charlie and Warren morphed into twin Golems who now do and say anything to protect “my precious” Berkshire Hathaway. This must mean Ron Paul is our Frodo as he fights the Mordor on the Potomac.
No Mark It’s not just you. I agree with the “twin Golems” description. Thank you for the comment.
Greg
Just two high powered shills for FED policy, but the disinformation/propaganda daisy chain won’t be complete without the inclusion of Richard Trumka and Bill Ayres. Waiting……waiting
Love it! Great article again….
Buffett is a spokesman for the elite being used by them for his own benefit. Ever notice how they parade him out on a Monday morning on CNBC, when the markets are showing a lower opening for that day. He talks happy, possibly bad mouthing gold, and not only the days market, but the week is now set for green arrows. I’ve seen this played out over two dozen times in the past three years. In the end he benefits. “You scratch my back and I’ll scratch yours”! I’m sure Munger is the same way, only quieter and not being used; yet!
Charlie saya civilized people dont own gold…thank God for the hinterlands
Greg, folks should watch the other videos that follow the 1st one. NATO to be in Chicago soon? If true the protestors will be out in force, what happens if it turns to into riots?
These old men are pure crooks living large off of tax payers money from the bail outs they got & continue to get. They are a big part of the problem & will do all they can to keep the O in the WH! The USA is on life support & the plug is about to be pulled. GOD BLESS ALL of the true Americans who love FREEDOM!
While I do agree with most of the video about Munger/Buffet, I disagree with Duane on farmland. It isn’t just a paper asset as he says; it provides food, and during a time of crisis it’s more important than ever to be self-sufficient. With corporations like Monsanto monopolizing the food industry, it would be highly beneficial for both individuals and the greater good if more private persons started purchasing farmland.
I believe one should own both gold (and silver) and farmland if possible. Overall, the video brings up mostly good points though. And of course I still think Buffet is a puppet to the elites.
Thank you Laura for weighing in.
Greg
Can you imagine having multi billions invested in …. say a home and not having insusrance. Or having a car without insurance. Don’t make sense does it? Very simply gold is insurance …. clear and simple!
Thanks Greg,
Sky
I agree Sky, Thank you for the commnet.
Greg
I have to say, that despite a well deserved and warranted skepticism: Chris Duane continues to impress. His methodology and organized delivery not only states perspective well; he drives good fundamental points home with ease. It is a hard thing to describe such dire conditions and follow through with such likely and terrible consequences. I always ask myself – “how many people will believe this?” every time a view another video he puts out. And in honesty – I have to admit I DO believe that his propositions ARE fundamentally correct. So much so that I am at the edge of going off the grid, within my meager means, as far as possible. Thanks for introducing him and many others to us Greg.
Thank you Charles H. Francis.
Greg