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:
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.