The wealthy are buying gold for real money.
Ray Dalio loves Gold while Warren Buffett hates Gold.
“If you don’t own gold, you know neither history nor economics.”
“(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.”
Warren Buffett 💩
Gold is not an asset like real estate, stocks, and bonds.
Gold is money like the Dollar.
Money is the medium of exchange that allows people to trade.
Warren Buffet doesn’t understand the notion that gold is not an asset. 💩
Ray Dalio understands gold is real money, not fake money like the dollar.
Warren Buffett holds cash, while Ray Dalio does not hold cash.
Warren Buffett believes the Dollar will be strong during the bottom of the economy while Ray Dalio believes the dollar will devalue significantly.
Recently, Warren Buffett’s Berkshire Hathaway bought Barrick Gold, a gold mining Canadian company. 🤔
Warren Buffett might privately own physical gold too.
Never too late to change your mind like Warren Buffett and invest in Gold! 🤷🏽♂️