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Park Avenue Numismatics
5084 Biscayne Blvd, Suite 105
Miami, FL 33137
 
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Park Avenue has over 30 years experience buying and selling Rare Coin and Precious Metals. We have the knowledge and ability to provide our customers with the best products and services.

Customer Reviews

Did Buffett Just Bet Against The US? Berkshire Buys Barrick Gold, Dumps Goldman

Tuesday, August 18, 2020

 

Zero Hedge---"Berkshire Hathaway's latest 13F just dropped and contained inside is a signal that none other than the Oracle Of Omaha appears to now be quietly betting against The United States. Why? Because for years - in fact for as long we can remember - Warren Buffet has denigrated gold: In a speech delivered at Harvard in 1998, Buffett said: '(Gold) gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head.'....According to the latest 13F, Buffett's Berkshire Hathaway not only dumped all his airlines - as we learned previously, but has also liquidated huge amounts of its exposure to US banks (exiting Goldman Sachs entirely)...Berkshire took a new stake (20.9 million shares) in Barrick Gold, a holding that was valued at about $564 million at the end of that period...So, the famously anti-gold investor has abandoned banks - 'the backbone of America's credit-driven economy - in favor of a gold miner (which was the largest in the world until last year when Newmont bought Goldcorp). Is Buffett betting against America with a levered position on precious metals?....What is most ironic about all of this is that Warren's father, Howard Buffett, is among the great gold bugs of all time....Buffett's father stresses the relation between money and freedom and contends that without a redeemable currency, an individual's freedom and one's access to property is dependent on goodwill of politicians....Did it really take him until he was 90-years-old to realize that his dad was right after all?"

 

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