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Buying Gold
mullokintyre
post Posted: Aug 15 2020, 11:19 PM
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Has the Oracle of Amaha just ditched the American Financial System>>
From Zero hedge

QUOTE
Berkshire Hathaway's latest 13F just dropped and contained inside is a signal that none other than the Oracle Of Omaha appears to now be quietly betting against The United States.

Why? Because for years - in fact for as long we can remember - Warren Buffet has denigrated gold:

In a speech delivered at Harvard in 1998, Buffett said“(Gold) 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.”

He once famously said:

“Gold is a way of going long on fear, and it has been a pretty good way of going long on fear from time to time. But you really have to hope people become more afraid in a year or two years than they are now. And if they become more afraid you make money, if they become less afraid you lose money, but the gold itself doesn’t produce anything.”

In his 2011 letter, Buffett noted that for $9.6 trillion you could buy "pile a" — all of the gold in the world, or "pile b" — the entire US cropland (400 million acres) plus 16 ExxonMobils and still have another $1 trillion left over.

"Admittedly, when people a century from now are fearful, it's likely many will still rush to gold," he wrote. "I'm confident, however, that the $9.6 trillion current valuation of pile A will compound over the century at a rate far inferior to that achieved by pile B."


In 2013, Buffett even went so far as to mock investors betting on gold, saying that there were better places to put your money.

All of which makes the following even more stunning...

According to the latest 13F, Howard Buffett's Berkshire Hathaway not only dumped all his airlines - as we learned previously 0 but has also liquidated huge amounts of its exposure to US banks (exiting Goldman Sachs entirely).

Berkshire's JPMorgan Stake Down 62% to 22.2M Shrs
Berkshire's Wells Fargo Stake Down 26% to 238M Shrs
Berkshire trimmed its bet on PNC Financial and M&T Bank as well as Bank of New York Mellon Corp., Mastercard, and Visa.
Berkshire Exits Goldman stake entirely
And while he modestly added to his positions in Kroger, Store Cap and Suncor Energy, the only new stock he bought in Q2 was... the world's (formerly biggest) gold miner:

Berkshire took a new stake (20.9 million shares) in Barrick Gold, a holding that was valued at about $564 million at the end of that period.

I am not sure what is the most stunning: The purchasing of gold stocks or the dumping of the financial stocks.
As someone famous once said, if you want the truth, follow the money.
Mick




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sent from my Olivetti Typewriter.

Said 'Thanks' for this post: early birds  Pendragon  rlane  
 
nipper
post Posted: Nov 4 2017, 06:43 AM
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QUOTE
Perth Mint [sits at] the top of Australia's exports to Germany. Germans purchased gold and silver coins worth almost $487 million from the mint last financial year and the trade has boomed ...

The 2016-17 sales represent more than 158 tonnes of gold and silver turned into more than 4 million commemorative and special edition coins by the mint. Germans have taken a particular shine to the mint's coins, featuring picture of kangaroos, kookaburras and koalas.

Perth Mint chief executive Richard Hayes said the coins found their way into the homes of German battlers as well as multimillionaires fascinated with Australia and looking for a safe store of value.

The mint's coin sales to German hit $520 million in 2015-16 and runs into the billions of dollar since the global financial crisis in 2008.




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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
rickhb
post Posted: Mar 6 2008, 08:52 AM
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In reply to: rickhb on Monday 03/03/08 09:00am

gold A$1057, silver A$22.35

 
BarraKing
post Posted: Mar 3 2008, 12:59 PM
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Junior GOLD Companies ( REAL ONES ) have been "punished" in recent months, which means that they are "primed" for a RISE in SP.

By REAL ONES, I mean, minimum of 3 Million Oz in the Ground - defined at HIGH grade and Shallow Depth.

Note Well - There are Not many!

Go take a GOOD look at PRU. PERSEUS has such a resource that is to be defined to 5 million oz+ by mid 2008.

Jim Sinclair MineSet is an interesting site, Goldseek and of course Kitco..... GO do some REAL RESEARCH and NB the Rise of GOLD ( forget the rest ).

wink.gif Barraking

 
cooma
post Posted: Mar 3 2008, 12:32 PM
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In reply to: laura on Monday 03/03/08 12:57pm

AUD 1053 now.

Siver has been better though! biggrin.gif

 
laura
post Posted: Mar 3 2008, 11:57 AM
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In reply to: cooma on Monday 03/03/08 08:24am

$980 and counting.....

March will be a historic month for gold...the $1000 bash!

lmaosmiley.gif



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The printing press in the USA and UK will bring hyperinflation.

Gold is insurance on the possible collapse of paper currency.

I hold High risk stocks.

I hold low risk stocks.

I hold physical GOLD bars/coins.

Disclosure: "i post for fun only"
 

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cooma
post Posted: Mar 3 2008, 08:24 AM
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In reply to: laura on Wednesday 27/02/08 11:58am

Not necessarily.
Gold futures or ASX code GOLD better.

 
rickhb
post Posted: Mar 3 2008, 08:00 AM
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In reply to: laura on Wednesday 27/02/08 11:58am

Gold A$1041, Silver A$21.14 As a friend of mine ( aka George ) once said, "bring it on".

 
laura
post Posted: Feb 27 2008, 10:58 AM
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QUOTE (Monteverdi @ Tuesday 29/01/08 09:48pm)

gold breaking out now.

$1050 next target!!!!

ALL gold stocks will go mental very soon.

And i mean ALL. lmaosmiley.gif



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=============================================================================

The printing press in the USA and UK will bring hyperinflation.

Gold is insurance on the possible collapse of paper currency.

I hold High risk stocks.

I hold low risk stocks.

I hold physical GOLD bars/coins.

Disclosure: "i post for fun only"
 
Monteverdi
post Posted: Jan 29 2008, 09:48 PM
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Posts: 250
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In reply to: bigernie on Tuesday 29/01/08 08:25pm


If you just want to trade the price movements you could have a look at ETF Gold Bullion Securites ASX code GOLD.

I think that the Perth Mint offer some kind of trading instrument as well. Their website that Ice9 has provided will tell you.

Regards,
Monteverdi.



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I could be wrong, of course.
 
 


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