Buffet and Soros comments

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orgprophet

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Buffet and Soros comments

posted on Oct 05, 2010 04:57AM

from this interesting article I found in the jsmineset website

http://www.reuters.com/article/idUSTRE6932NR20101004?pageNumber=2

Billionaire financier George Soros, echoing comments from investment guru Warren Buffett, last month described gold as the "ultimate bubble" because it is costly to dig up and has no real value except its market price.

Interesting ... what real value do the banks have after FASB agreed that they no longer needed to mark to market all those "assets" they own ... the value of paper derivatives which are not costly to print?

Gold represents HONEST labour and the utilization of resources and that is why it is costly to dig up ... not because a banker tells you that it is good to own - to acquire gold you have to something the old fashioned way ... earn it!