Warren 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.
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