This is probably the stupidest thing I read in quite a while.
How Buffet buying the cream of municipal bonds is going to affect the price of gold is beyond my understanding.
Gold Drops on Speculation Buffett Plan Will Curb Metal's Appeal
By Danielle Rossingh
Feb. 13 (Bloomberg) -- Gold fell for a second day in London on speculation that Warren Buffett's plan to assume some liabilities from bond insurers will buoy investor confidence and diminish the metal's appeal as a haven.
Buffett offered to provide insurance on municipal bonds guaranteed by companies such as MBIA Inc. Gold has had its best start to a year since 1980 as stock markets dropped and investors bought the metal to diversify their holdings.
``The Buffett plan, if it truly were to calm the financial markets, could contribute further to gold weakness,'' James Steel, an analyst with HSBC Securities in New York, said in a note yesterday. The plan may ``reduce risk aversion.''
How does insuring municipal bonds make everything better and what relations do they have with gold prices? I really don't see any relationship between the two.
Insuring Municipal Bonds will not fix the problems with the financial market.
You got it. Purpose of this string is to point out just another inane article by major media office bad mouthing gold without logic, reason or sense. Bottomline: someone's agenda is to drive people away from gold and it doesn't matter if no good reason to dump gold exists. Just say dump gold often enough and some of the herd will dump somthing...IMHO, balibob
Writers jobs are to get people to read their work. They are not investors,analyst or advisors. They are writers, they do little research,and only try to create drama to sell their stories. The stories don't have to make sense, or even have sound advice, just be interesting. This writer tied two hot topics together, turned in his story, and moved on.
That is how he makes his living, not trying to help individuals navigate the financial waters.
You are right, logic, reason, truth, validity all have no place in writing today. In fact if we got a stock market bounce off of the gramps in omaha making a meaningless offer to bond insurers why dont we start an even better rumor. How about you announce a secret Bush Administration plan to print new money called Orabucks with the face of the Oracle of Omaha on every one and with his favorit motto in greek or latin or whatever on them saying "wait around long enough and even this dog will payoff". And we exchange one of these new Orabucks for every million old fed reserve notes.
Why we could save enough paper to save the rainforest. So the tree huggers will like it.
I think the full faith and credit of the oracle is probably stronger right now than the full faith and credit of the fed.
CNBC will love it cause they can get an exclusive interview from the oracle himself.
And a guy who lets his stock go to several hundred K without a stock split must be trusted to not print anymore Orabucks right?
Makes more sense to me than printing another trillion or so crumby old fed notes and making every technically bankrupt american consumer feel richer. That's the old bush plan so lets get started on the new bush plan. Will at least give the guy something to do for the next year. I dont want to think about what that mind could come up with if left idle for 12 months with the big button close at hand...Now that's scary. IMHO, balibob
Yeah, I agree, by what dumb rationale is he making those statement's? Oh yeah BUFFET OVERCOMES THE APPEAL OF GOLD! RIGHT! It's because of the stupid fkrs like this and other's like him that continue to boost the appeal of gold in the first place!
Here's another example of the weird "mind set" and "financial mentality" of many financial
"experts." They read all kinds of things into
statements that are totally unrelated.
Apparently this guy has a dislike for gold --
typical for "investment experts."
Buffett's offer was such a bogus offer for
helping those financial compaies it's a joke
throughout the marketplace.
PM is still the place to concentrate $$$
American's love fantasies. They are expecting Superman to come flying in and make the world right for america again...Oops! He died didn't he? Well how about the oracle of omaha dude? Yeah, the furniture salesman who made good gives american's all the confidence they will ever need. What arab would doubt that this guy knows best?
Think I might just sell my auy today and buy berkshire hathaway. What do you guys think??? Think I'll buy a fixer upper in Vegas and move back while I'm at it too! Course I'll have to find a new wife cause my current one will drop me in a minute as she's too smart to stay married to a moron. Best of luck, balibob
PS. Just went into escrow on sale of my second to last usa property 640K(4 small house rentals on a large city R4 lot in Northern California). Only my office building left to go and I got away clean... Wish me luck.