Well, we’ve heard from Warren Buffet and Charlie Munger on the subject of gold. Looks like it’s time for their young protégé Bill Gates to jump in the ring and throw a few wild punches. Next time though, guys, how about a few dry runs off camera first? It’s pretty clear that Mr. Gates was completely disoriented when it came time actually to perform the task at hand. After waxing nostalgic about the days when he and Warren bought a bunch of silver, he momentarily regained some of his bearings and fired off this gem:
“If central banks or the IMF ever decided to take advantage… and I think countries need liquidity, you know, hey… there’s an asset that’s not doing anything for the citizens…”
Sure, Bill. Why on Earth would a central bank sell gold to raise liquidity when they have the legal authority to counterfeit money? That’s the whole genius of the system. They don’t have to sell anything, they don’t have to work for anything, they simply create new digital currency units on their computers. They really only have one job, and that’s to keep everyone’s attention focused on paper and away from gold. Which brings us back to the task at hand…
Uh oh, don’t look now but it appears that Mr. Gates has lost his way again… stumbling badly… not sure where to go. Perceptions of future value… price floors… jewelry buyers… desperately looking for a way out of his incoherent rambling, he falls back on technology with some mysterious reference to digital mining techniques.
Digital mining to produce endless supplies of cheap money? Isn’t that actually a description of how central banking works? I’m not sure he’s actually grasping the finer points of those Bilderberg seminars he attends.
Ok, going to my gold basher’s grade card now, I’m going to have to give this performance a D-. Absurd arguments and zero confidence in the delivery. Hey, Bill, next time you’re asked, just remind them you can’t eat gold and follow it up with a good hearty laugh. You really can’t go wrong with that one.
Why does Gates makes a clown out of himself? Can’t he just do what he does the best and not try to pretend that he has an idea about something as remote from IT industry as gold as an monetary instrument?
It seems that once they get rich, they think they have authority in *everything* not just the stuff they know.
Time for Bill to disclose just how much of this worthless barbaric relic he owns. I have a hard time believing he’s irresponsible enough to own zero.
A couple years ago I was looking at his foundation. His foundation by being non profit (although it makes billions) is public information. Digging through the hundreds of documents which mostly are those of him funding it. He was giving shares of the various companies he’s invested in. This guy owns shares in just about every company in the world. He was funding it with 5000 and 10,000 blocks of shares of companies from every major country. He also funded it with lots of silver and gold. I don’t remember the exact amounts but it wasn’t in ounces that’s for sure. The only bummer about reading it was it only said how much of each he gave and not what he still owned. At the time when I read these papers he was still at Microsoft and his father was running the foundation with a nice salary of 200,000 a year
Bill “the-tooth-fairy” Gates refers to gold as being valued “psychologically”. Pray tell me what on this planet is not psychologically valued by humans – apart from food, water and sex? Paper money is perhaps the most valued item in the list of psychological needs of most of U.S. today.
His incoherent speech about gold, which he mentions in terms of what people predict about its value, is absurd. Consider he has assets in the billions of dollars. He would not benefit unless we went on the silver or gold standard. He did hedge his comments about technological improvements in mining. This indicates he has kept his thoughts about gold masked in a smoke screen. He also stated there is no benefit to people from owning gold. This is another absurdity, if we consider the devalued fiat dollar, which deflates our bank accounts, and vanishes as soon as our low interest bank account is depleted.