Report has been right for the past 10 years he dumped many of his banking shares and went long gold miner derek the biggest gold miner in the world so max what do you think about this sea change in his portfolio right well it was obvious that he would have to get into gold gold mining gold bullion at some point he had too much cash he was underperforming the stock market for 15 years he had made an enormous mistake in airlines again for the 2nd time in his career took a huge loss. And you never understood Technology Got in very late and hes got a problem now with all the money that he helped bring into existence by having the government bail him out perpetually not not not not in 2008 was a huge bailout of Warren Buffett and they had a print trillions of dollars he used to base the value of this figure of money the u. S. Dollar and the only protection now we have as a way to preserve wealth is to get into gold so this is the 1st foray into gold and dissipate that within 2 years 20 to 3
Dissipate that within 2 years 20 to 30 percent of the berkshire portfolio will be gold or exposed to gold buffett so burning 90 years you know 90 year birthday you know if you spot a Spring Chicken anymore think charlie monger is a few years old or so theyve got him out think about preservation of capital they may have tons of mistakes now they decide to salvage what they can of course one thing you can point to this and say is that this is part of perhaps is dispute with the fed because remember he did want to bail out the airlines i in a way that would give him a good deal and a bigger percentage of the big 4 airlines in america but who outbid him that was the u. S. Federal reserve they gave no Strings Attached to their free money to the airlines which is basically never going to have to be paid back so of course Warren Buffett then dumped his airline shares and then down to banking shares in the 2nd quarter and while he was buying gold im buying back at half a 1000000000. 00 with th
A Spring Chicken anymore i think charlie monger is a few years old or so theyve got him out think about preservation of capital they may have tons of mistakes now they decide to salvage what they can of course one thing you can point to this and say is that this is part of perhaps is dispute with the fed because remember he did want to bail out the airlines i in a way that would give him a good deal and a bigger percentage of the big 4 airlines in america but who outbid him that was the u. S. Federal reserve they gave no Strings Attached to their free money to the airlines which is basically never going to have to be paid back so course warren buffet then dumped his airline shares and then dumped his banking shares in the 2nd quarter and while he was buying gold im buying back at half a 1000000000. 00 with the barrick gold he and i want to point out that colombia the country you know they sold 2 thirds of their gold in june alone so you know they were getting out theres always down mon
A 1000000000. 00 with the barrick gold he i want to point out that colombia a country and they sold 2 thirds of their gold in june alone so you know they were getting out theres always down money and theres always smart money at the table so if you dont know that the sucker is at the table it could be you you were right well you know the fed is out buffeting buffett right if it were taught fraud how to commit fraud to the central bank you put a lot of money in and buy stocks that go up because youre buying stocks that go up right so he made that game possible and so but the fed figured out wait a minute why are we letting warren take all this fraud money we should get some of those fraud money so now the fed as ive often buffett so something look for buffett to do you know he is entering the game of Precious Metals and Precious Metals is a nonstop sort of manipulated market. J. P. Morgan has been fined over the past 2 years for manipulating the prices on gold and silver i think theyre
Buyer theres a seller right now thats clear i hope by now that these gold prices in markets all over the world are manipulated using in this case they highlight spoofing you know putting in fake orders to nudge the price up and down that but theres 20 different ways you can manipulate prices and weve talked about it before you know the world is on a Gold Standard its been on the Gold Standard for a 1000 years Central Banks are on a Gold Standard when i saw trades with gold they dont use paper. This idea that we have a fear of money standard is a complete hoax in order for that to be perpetuated theyve had to suppress the price of gold manipulating the price of gold so many banks been fined for this now its so its such a documented historical fact that theyve been improving the price of gold like the gold pool of the 1960 s. Because going to do it for so long and then the market ultimately wins out and now the markets say you know what without the manipulation of the price of gold would