Warren Buffett: “Dollar Worth Less”

Warren BuffettWarren Buffett appeared on CNBC today during the before trading show “Squawk Box”, and told reporters: “The U.S. Dollar will buy a lot less in 10 years than it does today, that’s for sure”…

Buffett has been warning investors about the falling U.S. Dollar for many years, including this report:

Source: Wall St. Journal Marketwatch

In his annual address to Berkshire Hathaway shareholders, famed investor Warren Buffett warned of the dangers of holding dollar-denominated investments. Buffett’s concerns about the dollar stem from the world’s government “solutions” to the ongoing financial crisis: The dollar is headed south, and “You can bet on inflation,” he told shareholders during a six-hour question and answer marathon.

Although having dabbled in gold and silver in the 1960s, Warren Buffett’s legendary 130 Million Ounce purchase in 1998 made his statement on owning physical gold. On April 4-29-2009, Warren Buffett’s famed Berkshire Hathaway company announced a continuing buying spree of Gold companies in the USA to merge under their “Richline” gold brand.

In 2007 Berkshire Hathaway started the buying and merger/acquisition strategy by the acquisition of Bel-Oro International and Aurafin LLC, forming the largest gold jewelry supplier in the USA.

The gold company now has assembled under the ‘Richline’ gold umbrella the brands Bel-Oro, Michael Anthony, Aurafin, AuraGem, Sardelli, Pace Designs, Prime Time, Alarama, ALA Casting, Gold Expressions, Town & Country Jewelry, and Baby Gold., forming the “mega supplier” of gold “Richline.”

Berkshire Hathaway and its subsidiaries engage in a number of diverse business activities including property and casualty insurance and reinsurance, utilities and energy, finance, manufacturing, retailing, and services. The common stock of the company is listed on the New York Stock Exchange.

American Bullion specializes in adding gold and silver to retirement accounts. If you have a question or would like to know more about your investment options, please call American Bullion at 1-800-326-9598 to speak with a precious metals specialist.

Although the information in this commentary has been obtained from sources believed to be reliable, American Bullion does not guarantee its accuracy and such information may be incomplete or condensed. The opinions expressed are subject to change without notice. American Bullion will not be liable for any errors or omissions in this information nor for the availability of this information. All content provided on this blog is for informational purposes only and should not be used to make buy or sell decisions for any type of precious metals.