Warren Buffett As A Gold-Hater - By Economic Policy Journal (14/2/12) PDF Print E-mail
Economic Policy Journal   
Tuesday, 14 February 2012 11:06

Warren Buffett is out with an anti-gold rant in Fortune magazine:

Today the world's gold stock is about 170,000 metric tons. If all of this gold were melded together, it would form a cube of about 68 feet per side. (Picture it fitting comfortably within a baseball infield.) At $1,750 per ounce -- gold's price as I write this -- its value would be about $9.6 trillion. Call this cube pile A.

Let's now create a pile B costing an equal amount. For that, we could buy all U.S. cropland (400 million acres with output of about $200 billion annually), plus 16 Exxon Mobils (the world's most profitable company, one earning more than $40 billion annually). After these purchases, we would have about $1 trillion left over for walking-around money (no sense feeling strapped after this buying binge). Can you imagine an investor with $9.6 trillion selecting pile A over pile B?

Beyond the staggering valuation given the existing stock of gold, current prices make today's annual production of gold command about $160 billion. Buyers -- whether jewelry and industrial users, frightened individuals, or speculators -- must continually absorb this additional supply to merely maintain an equilibrium at present prices.



Add this page to your favorite Social Bookmarking websites
Reddit! Del.icio.us! JoomlaVote! Google! Live! Facebook! StumbleUpon! Yahoo! Free social bookmarking plugins and extensions for Joomla! websites!
Read more...
 
Permanent Gold Backwardation - By Keith Weiner (13/2/12) PDF Print E-mail
Keith Weiner   
Monday, 13 February 2012 10:13

Download PDF



Add this page to your favorite Social Bookmarking websites
Reddit! Del.icio.us! JoomlaVote! Google! Live! Facebook! StumbleUpon! Yahoo! Free social bookmarking plugins and extensions for Joomla! websites!
 
Why Wall Street Should Stop Whining - By Matt Taibbi (10/2/12) PDF Print E-mail
Matt Taibbi   
Friday, 10 February 2012 10:16

Download PDF



Add this page to your favorite Social Bookmarking websites
Reddit! Del.icio.us! JoomlaVote! Google! Live! Facebook! StumbleUpon! Yahoo! Free social bookmarking plugins and extensions for Joomla! websites!
 
Why Our Currency Will Fail - By Chris Martenson (10/2/12) PDF Print E-mail
Chris Martenson   
Friday, 10 February 2012 10:11

Download PDF



Add this page to your favorite Social Bookmarking websites
Reddit! Del.icio.us! JoomlaVote! Google! Live! Facebook! StumbleUpon! Yahoo! Free social bookmarking plugins and extensions for Joomla! websites!
 
Deception Of 0% Interest Rates, High Costs And Capital Destruction - By Jim Willie (10/2/12) PDF Print E-mail
Jim Willie   
Friday, 10 February 2012 10:07

Download PDF



Add this page to your favorite Social Bookmarking websites
Reddit! Del.icio.us! JoomlaVote! Google! Live! Facebook! StumbleUpon! Yahoo! Free social bookmarking plugins and extensions for Joomla! websites!
 
<< Start < Prev 341 342 343 344 345 346 347 348 349 350 Next > End >>

Page 342 of 698