I normally agree with Munger. But… our (USA) money is no longer backed by gold. We're about $30T in debt as a nation. I currently invest every available penny in blue chip stocks. But intend to put up a few gold coins (Canadian eagles?) When finances allow. Maybe just a year's expenses.
I'll settle for being a rational jerk. The value of gold is simple. It's a value stable currency based on it's fundamentals and things over time have a tendency to become cheaper and easier to produce so gold has the modest effect of appreciation long term. Charlie will hold bonds and cash which that's something I can't see as rational. Better to hold sound money for risk off to balance out your riskier assets.
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No shock, he loves the corrupt banking system and hates money backed by gold as Art 1 Sec 10 of the US Constitution STILL requires.
Lier
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I normally agree with Munger. But… our (USA) money is no longer backed by gold. We're about $30T in debt as a nation. I currently invest every available penny in blue chip stocks. But intend to put up a few gold coins (Canadian eagles?) When finances allow. Maybe just a year's expenses.
Golden generation
I'll settle for being a rational jerk. The value of gold is simple. It's a value stable currency based on it's fundamentals and things over time have a tendency to become cheaper and easier to produce so gold has the modest effect of appreciation long term. Charlie will hold bonds and cash which that's something I can't see as rational. Better to hold sound money for risk off to balance out your riskier assets.
If you want gold or silver,buy jewelry or flatware so you get something out of it .
This is a deeply realized and principled person. He comes of harsh because he’s thoughtful.