Somewhere, Warren Buffett’s father Howard Buffett, the 4-term Congressman from Nebraska who was a strong proponent of gold and silver as constitutional money, is rolling in his grave.
Charlie Munger, the Vice Chairman for his son Warren’s Berkshire Hathaway, delivered this beaut today in an interview with CNBC regarding his thoughts on gold:
“I think gold is a great thing to sew onto your garments if your a Jewish family in Vienna in 1939 but I think CIVILIZED people don’t buy gold”
Forget the traditional ‘barbaric relic’ and ‘you can’t eat gold’ bashing, the anti-gold rhetoric has now reached its moral nadir.
Munger’s CNBC interview below:
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/images/live/s_silv.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/images/live/s_gold.gif)
If anyone else had said this, they would be labeled as Anti Semetic. What the hell? This guy doesn’t qualify as ‘civilized” in my book. If “civilized” people only buy productive businesses, then why is precious BERKSHIRE HATHWAY down vs the S&P for the third straight year in a row? What’s the matter? Civilization not working for ya there Charlie? rat fink piece of trash.
Doc… Thank you VERY much for posting this!!!! I posted it on another topic as soon as I saw it… I was beyond furious when I saw this and actually hit the rewind on the DVR to make sure I heard this degrading LOOSER correctly….. I am BLOWN AWAY that he had the audacity to say such a thing!!!!!!!
Damn I’m FIRED UP!!!!
LMAO
Open mouth & insert both feet
Let’s be frank, fuck you Mr. Munger.
Classic misdirection
LMAO I had to take a double take on the headline thought I was seeing things and I didn’t have to go any further, This guy is not worth reading about or listening too and good job I’m not Jewish or I would be choking him threw the computer. What an absolute Wanker!!! Gold Not Worth Buying, You gotta Be Kidding Me. LMAO
Wasn’t Buffet complaining a few weeks ago about how the value of the dollar being down 80-90% in the past 30 years? Uh, down relative to what? G-O-L-D. So where does that leave your dollar denominated investments, Charlie? Has that outpaced gold’s bull run in, say, the past 10 years? I have a cluestick for you, idiot. It’s hasn’t and it won’t outperform gold. We live in a debasing monetary system and those that that think that dollar denominated assets are a store of value are mathematically challenged. Value investing is dead. The world will be better off when they stop listening to you and your archaic ideas. You are better off dead to the common people that will lose their shirt in the coming years.
I’m all on board with that SilverB!!!!!!!! This is just WRONG!!!!!!!!!!!!!!!!!!!!!!!
Wasn’t it old Uncle Warren who took a MASSIVE delivery of physical silver a few years back? I remember one of these guys did something like that… guess he’s less civilized than they want us to think.
This guy tho – total ass. Wonder how quickly he’ll be labeled as an “anti Semite” by the world at large? Oh wait… never?
Man this topic is going to get a lot of attention and Charlie, You Deserve It! I’m embarrassed that I have the same name.
I’m Not Shiting, I just tried to listen to this video and as far as I got was “Well what’s new?” ”Not Much!” I thought he was going to drop dead. Really I’ve heard enough. I want lower myself to listen to him.
I swear Munger and Buffett are part of this NWO Illuminati gang. Buffett had to cough up his 130,000,000 ounces of silver to get the gummint to bail out AIG then got taken to the woodshed because he tried to game the silver market. Big mistake. It seems that once these DAs hit a billion dollar net worth their brains turn to crap and they get all “Greenpeacey’ ‘save the world’ donating to the lefty causes and shooting their mouth off about stuff that if guaranteed to piss off the people.
Bonger, take your Buffett tax rule and stick it where the sun never shines. Muffet, takes your NWO Nazi bastard crap and give a circle jerk to that other psycho Soros. This SOB Obama draws Stalinist death squad huggers from every nasty corner of the world.
I’ve never been more proud to be a “Barbarian” than right now. This is proof “civilization” ain’t all it’s cracked up to be.
Can you make an argument that civilized people don’t by Gold, and argue that Gold is in a Bubble?
Are all the Central Banks which are accumulating it Uncivilized? Charlie Munger is a Liar.
Buffett should fire Munger’s ass and get it over and done with.
My family used to sew gold into coats and they weren’t even Jewish… I suppose Munger is sewing Bank of America shares into coats for future generations.
“I warn you that politicians of both parties will oppose the restoration of gold, although they may outwardly seemingly favor it, unless you are willing to surrender your children and your country to galloping inflation, war and slavery then this cause demands your support. for if human liberty is to survive in America, we must win the battle to restore honest money. There is no more important challenge facing us than this issue — the restoration of your freedom to secure gold in exchange for the fruits of your labors” – Howard Buffett.
“From the Urban Dictionary…
Munger: someone who enjoys Munging
Munging: the act in which 2 individuals dig up a newly buried corpse (best when dead 2-3 weeks) and lay the body down on its back. then one individual places his/hers mouth on the body’s anus while the other precedes to get a running start and jumps on the body feet first. whatever comes out is called MUNG” – SAUK Leader
Old fart doing what buffet wants.
Munger is hardly a carbon copy of Buffet: Munger is known to be a
Republican, whereas Buffet has generally supported Democrats. So you’d think CNBS wouldn’t worship him like they do Buffet.
I don’t think Becky Quick’s reference to David Einhorn was a coincidence. She obviously reads The Huffington Post religiously and probably was surprised that there could be anything about Fed criticism and the advocation of gold in the Huffington post, so the CNBC shills had to counter it.
Although David Einhorn’s calls on stocks had to be recognized by CNBS recently, they must trash him because he’s a gold advocate. So how to discredit Einhorn and the idea of holding gold?
Trot out Munger. This was not an un-rehersed interview. Einhorn has been critical of the Fed. Since CNBS is an agent for the Fed, this question makes sense. Einhorn makes reference in his article that he likes gold because it is not beholden to conference calls–this, I’m sure, bothers CNBS.
Becky didn’t even hesitate when Munger made his anti-jew/anti-gold comment. She had no reaction what-so-ever! She just continued to the next question!
Here is the Excerpt From Einhorn Article:
gold, sell bonds and buy stocks. But, the Fed is filled with academics
who thoughtlessly rely on econometric models that reflexively indicate
that repeated Jelly Donut orgies are the best way to get a sugar rush
into the economy. And, the Fed Chairman seems to have no trouble
rationalizing any policy failure on the basis that “monetary policy
cannot be a panacea,” or “it’s bad luck,” or as proof that he just
hasn’t force fed us enough Jelly Donuts, yet. As long as this is the
case, it seems unlikely the Fed will change course.
which serves as a Jelly Donut antidote for my portfolio. While I’d love
for our leaders to adopt sensible policies that would reduce the tail
risks so that I could sell our gold, one nice thing about gold is that
it doesn’t even have quarterly conference calls.”
READ MORE
He must be senile; or trying to pull something. How many Central banks have bought how much gold? How many countries have been stockpiling how much gold?
I got 12 minutes in.
This guy exemplifies all I dislike about the elite corporate mobsters. Talking about aquring dollar churning machines like they are a printing press instead of being companies made up of us, the citizens.
The first person who made money off another persons sweat needed a good swift kick in backside to disabuse them of the idea.
He doesn’t tweet, he’d f@#%*g tweet if I got hold of him.
Keep chasing the silver.
Unbelieveable!!!!
I would take gold over this barbaric relic anyday!
wasnt sure who was going to have a stroke first. Me, or Munger.
The problem with Munger is he’s the kid we probably jumped in 3rd grade and gave him a wedgie. Now that he’s uber-rich, he gives the world a wedgie.
You can call me anything you want, but don’t call me uncivilized!
Anti Jew sensationalism
He was referring to the practice of the jews sewing jewellry into the shoulder pads of womens clothing that they were wearing when they were crossing the border out of the country.
Why is it that every single time ANYONE refers to jews in a less than perfect light that they are labeled anti semetic.
But blacks,muslims italians, irish, hindus, chinese, japanese and just about every race has been persecuted at some point in history.
Why do jews get their own special designation. Oh yeh I forgot, they are the chosen race. My bad
It’s not about the Jewish remarks made… We know what the practice is and what he was referring to… Doesn’t make it right no matter what the race or religion is… It’s being called barbaric/uncivilized for buying or holding Phyz……
Spot on Danno.
Thanks..
You’re welcome.
What is the time on your side? It’s 08:10 this side. I went to bed after 01:00 again. This week has been a killer on my sleeping pattern. There is too much excitement and action here.
lol And to think that my son is due soon. I wonder when exactly he will come. My daugther surprised us on the 1st of January 2010, we thought we were going to the park, but it was to the hospital instead.
I will never forget the expression on my Brother in Law’s face when I told him we’re not going to the park, but to the hospital. lol He slept over the previous night and we watched movies until the wee hours of the morning…. got to bed, then shortly afterwards the labor pains started in earnest and it was off to hospital.
Danno
I looked at his comments from a historical perspective and with the understanding that “civilized” is defined as a place or people having reached a stage of social, cultural, and moral development considered to be more advanced. a “civilized” society.
In 1939 germany was hardly civilized. Today with what is happening to the economy under the current wanna be fascist regime, the USSA doesn’t really fit the definition either. If things today were looking great and “civilized” would people be abandoning the currency and considering fleeing the country? Would we all be buying silver and gold or something else, like bonds or securities.
I guess my other point was, the only reason this interview got any extra airplay at all is because he used the word jewish in a completely factual albeit provocative context.
Peace!
Crazy Canuck Munger has crossed at least three boundaries of great sensitivity with his comment. I don’t care how you see it, but it remains offensive to me and many others here.
Crazy Canuck,
The fact is history repets it’s self. I don’t know were you live but in the US times are changing. Looking allot like the Nazie Party when they started to come into power. When the collaps hits it will be the same as the weimar. Our government is setting up internment camp now to get ready for this. Look around the world see whats happening. Soon WWIII and if you don’t fall in line with the ruling power and eat up the propaganda there feeding us. You/We are the JEW! History Always Repeats It’s Self! We are 1939 Germany so no were not civilized are we, nobody is in time of grate wars!!!!
PS: Silverbullion maybe you should show Crazy Canuck what a civilized looks like in your neck of the woods in 2012
Silverbullion I think we are 6 hour behind you.. it was 2 something when you said it was 8 something… I went to bed around 9 AM our time yesterday and was back up around 11 AM… Don’t sleep much anymore…
Thanks for the interview posting Doc. I added it to my blog along with comments re silver and the fact Berkshire class A shares don’t pay dividends, just like gold.
http://ausbullion.blogspot.com.au/2012/05/berkshires-charlie-munger-gold-is-for.html
427 I agree.
Danno Thanks for the feedback. Hopefully we will catch up some sleep soon. This side they often ask when do I sleep, since I always seem to be busy… I always reply that I will sleep when I’m dead. lol
Hey gents
I apologise to both silver bullion and Danno for their misunderstanding of my recent post. If you read my post for what I meant it to say instead of what you think it says, you’ll understand that I wasn’t defending Mr Monger. Just his right to say it. I’m sure he didn’t think through the hurtfull statement before it slipped out of his face. As well, I could have been more thoughtfull about the plight of the american dream in my attempt to articulate myself as well. That’s the problem with people and symantics these days. Wars have and will be started through lack of understanding.
I agree with your passion about defending our reasons for buying PM’s and I’m sure you agree with my right to free speech as well as Mr Mongers.
427 Make no mistake, I know exactly what your government has been doing and what it appears they have in mind for the american public if you step out of line when tshtf. I actually read the NDAA and NDPA and I am disgusted that the American government has been able to get this close to totalitarianism as they have without sparking a revolution.
The question I have been asking myself for some time now is, How many Americans plan to stand and fight and how many plan to start sewing when faced with that decision.
You say “history repeats itself” Well, ask yourself this question. Do you plan to let it? I don’t!!
I’m sure The DOC and others on this site know I’m not here to start fights, but I often approach issues from a different point of view. Have an open mind and you will learn this too.
BTW I’m Canadian, and damn proud of it.
PEACE!
I would wager that inside of a week Mr Munger will feel compelled to broadcast a retraction or at very least an explanation of his statement.
My next question is, if he does, will the fascist media broadcast it or let it further their aganda
of divide and conquer.
Wait for it!