by Julian D. W. Phillips, Gold Seek:
Gold is, as he says, a dormant item pulled out of the ground and stored in vaults thereafter. It is not for ‘just making profits because it is an entirely different animal to corporations.
The big difference is that Buffett has been making money for around 70 years, whereas gold has been preserving wealth for around 5000 years. Buffett is mortal and coming to the end of his life, whereas gold is not.
Mr Buffett’s ability to make money is dependent on the continuation of a growing U.S. economy. More importantly it depends on his mortal skills as an investor. Gold is immortal.
Gold will survive if there is no U.S. economy. Gold has no investment skills, but has done very well in growing its price 42 times in as many years. Not bad for a totally inanimate item.
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