Warren Buffett - Can We Trust Goldman Sachs?

[Ganseblumchen12]

Warren Buffett, Bill Gates, David Rockerfeller....They're bunch of eugenicist.

[199gSauerkraut]

"Give me control of a nation's money and I care not who makes her laws."

Mayer Amschel Rothschild

Today have bankers more power than politicans.

Politicians are elected by the people, after the successful election can bribe them to

of firms and banks and make lobbying.

This world needs more incorruptible idealist in politics, there are simply too few . What counts is only money, that makes me sad.

[yasirjamal285]

"but I am sure that foreigners and the Federal Reserve certainly account for a larger portion of the debt than in 1945." that's not true

[Gago559]

yeahh :))

[jasekable]

("History will look back at this time and just see how corrupt it was") jase.

[36squared]

Woow, buffet is so full of sh!t, I won't even capitalize his name.

[zgamerazer]

Fuck you Dick Sachs

[MILMAG1]

They didn´t lose peoples trust because of the news, but because of they are incompetent crooks who thinks everybody else should pay for their market mistakes. And indeed we are...

[obaidCarkey]

this guy is a hypocrite and a liar!

his dealings with goldman sachs says it all!

[zebbedi]

@obaidCarkey Buffett has a reputation that can't be dented by your uneducated misinformed opinion.

[KingsWorld2010]

Do you trust Goldman Sachs? - "yes absolutely" - what a stupid question, the guy has 5 billion dollars at stake, of course he's gonna give a positive answer. They should have asked the same question to Gaddafi before he was killed! lol

[MrMrEvin]

Lol good one mulligan

[bladeproject1]

Rather be poor and saved then rich and damned :)

[blattdanielmain]

@bladeproject1 Rich or poor, God looks at the heart. You people will never understand.

[78945612336266]

@blattdanielmain u are rightly guided human brother because u have writed a serious truth الله‎ subhan wa taala only sees the heart not on rich and poor

[GMBCATASTROPHE]

Here is a fellow who lead an exemplary life for at least six decades and is now a sellout. One wonders if someone is threatening him.



[dearS3xy]

wake upp americans



[MrMrEvin]

FUCK U BUFFET UR AS MUCH OF A PIG AS THE OTHERS

[Mulligan71991]

@MrMrEvin and ur a nobody

[GarretSlarrity]

I really hate to do this, but I am about to question the words of a very wealthy person. When Buffett said that coming out of World War 2 our debt was 120% of our GDP, and now the debt is about 60% of GDP, he is forgetting that during World War 2, most of our debt was owned by US citizens through the sale of bonds. We were also the biggest creditor. Today most of our debt is held by foreign nations, and of course The Federal Reserve.

[zebbedi]

@GarretSlarrity If you think you have spotted a detail that Warren Buffett hasn't you are unbelievable arrogant and disrespectful. If you knew anything about Buffett you would know that he doesn't miss details or misunderstand economical issues.

That aside, the debt to GDP ratio is a consistent measure. It's irrelevant who owns the debt so I'm not sure what your point is on that specific issue.

Also, the Fed only buy gilt securities on the secondary market as an inflation controlling measure.

[GarretSlarrity]

@zebbedi Two things I disagree with:

1. Who owns the debt does matter, because if you look at a nation as a whole, the national debt is really the debt of it's citizens. Although if the debt is owned by private citizens within that country, it is like there is no debt. If this sounds confusing just read it a few more times or say it out loud........

2. The Fed is actually the source of inflation, and the cause of the dollar losing about 97% of its value since the Fed's existence.

[zebbedi]

@GarretSlarrity Ok I'll address these points...

1. The government is a separate financial entity to the population of which it governs. The debt is debt whoever the lender is. I'll take your point about foreign ownership of the debt but a more pressing concern to the U.S is the trade deficit which is the primary cause for devaluation of the dollar.

[zebbedi]

@GarretSlarrity 2. The Fed controls inflation and inflation is necessary. Price inflation is relative wages earned. If wages were to rise at a higher rate than inflation then the effects of it are 'cancelled' out. Inflation is the price of a growing economy and is something we all have to race against. People are wealthier today than they were in 1913 in all income brackets so your argument doesn't make a lot of sense to me.

[GarretSlarrity]

@zebbedi From 1871 to 1913 we had no central bank. The US then experienced the greatest economic growth in history. During that time, prices actually declined. When you have a central bank, wages can not possibly keep up with inflation in the long run.

[zebbedi]

@GarretSlarrity GDP per capita grew by $18,000 from 1960 - 2000, compared with $2,500 from 1871 to 1913. The period after the gold standard was abolished trounces the period just prior to the Federal Reserve act.

Here is the graph: //bit . ly/zgLn23

This proves that not only did the economy grow faster during the fiat currency period but the standard of living grew drastically better too.

[GarretSlarrity]

@zebbedi What you need to do is adjust the amounts in terms of gold for the 1960 to 2000 figure. This will show if the GDP growth kept up with inflation, and even if it did, the DOW/GOLD ratio was at an all time low of about 45, proving that gold was extremely undervalued at that time.

[zebbedi]

@GarretSlarrity No, you don't need to adjust it all. Gold has nothing to do with it. GDP per capita is the most reliable way to measure living standards regardless of how a currency is denominated.

I can tell you that in real terms (accounting for inflation) that GDP per capita for the period 1873 - 1913 grew by $6,927.

In the post Bretton woods period of 1971 - 2001 GDP per capita grew by $18,591

These are the inflation adjusted figures from:

bit . ly/zOoy4Q

[GarretSlarrity]

@zebbedi How could you say gold has nothing to do with it? Gold is by far the single best way to measure inflation, as for it has been the most stable asset for the past 5,000 years. GDP per capita means nothing if it increased by 10%, for example, but at the same time the price of gold, and probably other neccecities, increased by 10% as well. So therefore, if you want to evaluate standard of living, look at how people lived then, and now. The GDP per capita is just a number.

[zebbedi]

@GarretSlarrity Gold is as stable as many other commodities, soya beans for instance are just as stable. Although not volatile, gold prices are frequently subject to radicals swings.

Gold is not the best way to measure inflation, how can it be? Monetary inflation is an increase in money supply and price inflation is the effect of prices (not just gold) increasing. There are many indexes such as the CPI and RPI that measure inflation with precise accuracy using formulae.

[GarretSlarrity]

@zebbedi You should know that any government calculated inflation measurement is purposely manipulated downwards to make inflation look like less of a problem than it actually is. They do this to ensure trust in the dollar, because they don't to lose their power if people truly see the dollar's instability. For example, the CPI does not include food and energy. Why would they not include food and energy? You need food to live, and energy is almost as important in today's society.

[zebbedi]

@GarretSlarrity They can't make it up or manipulate the figures. Do you realise how much damage that would cause to the financial markets? The arbitrage specialists would be having a field day. Do you know anything about economics?

I'm not American but over here it's the same. CPI doesn't include food or energy because the RPI does. CPI is generally an inflation measurement and the RPI is a cost of living index.

[TonyBeanify]

@zebbedi You can't make up figures? Come on, Government had done that for years.

[zebbedi]

@GarretSlarrity The second part of your last statement doesn't make any sense at all. GDP per capita adjusted for inflation takes into account the purchasing power of the currency and tells you how much of the economy exists per person. GDP calculation contains all consumer spending, government outlays, trade deficit/surplus and gross investments (including gold).

[zebbedi]

@GarretSlarrity So you can see that the fiat currency period was far more successful in terms of economic growth and standards of living.

The Dow/Gold ratio speaks of gold as an investment against equities. I'm struggling to see how this ratio is relevant.

Also, how can you predict when gold is undervalued? Seeing as it's value is set by the market. It's utility is limited and it's only real value derives from the demand of a finite resource.

[netherwind2008]

@GarretSlarrity

i think debt owned by foreigners are even better. You can just print a lot of money and let the foreigners take the consequence.

[GarretSlarrity]

@netherwind2008 Eventually your creditors would get sick of losing their investment to inflation. They would dump the bonds and move the money to an inflation protected asset.

[ebola92]

@netherwind2008 Friend, printing money means leveraging inflation. The foreign investor loses value and you, citizen, lose your purchasing power. Both of you become eventually poor because the currency you own worth less than yesterday - if not nothing. Not saying that this kind of money-printing policy harms the trust the world puts in our nation, and therefore the amount of money they inject in it. So think twice before you speak.

[hyruleking1]

@GarretSlarrity That is not true most of our debt is owned by our own citizens, soc-security, senior citizens etc. of the 14 trillion bucks only 1.5 trillion bucks are owned by chinese and other foreign entity's...... do not question W.Buffet.

[GarretSlarrity]

@hyruleking1 I don't know the exact figures, but I am sure that foreigners and the Federal Reserve certainly account for a larger portion of the debt than in 1945.

[bladeproject1]

Buffet is as dirty as all of them!

[Mulligan71991]

@bladeproject1 your as poor as the rest of them:)

[zebbedi]

@bladeproject1 99% of the people who know about Warren feel the opposite.

[uplift20]

If America is a work in progress why do the think their the apex of man?????

[aragon667]

@uplift20 because you guys have no progress

[uplift20]

@aragon667 So America has progressed into a country that produces nothing, high unemployment, creates wars in country that have done them no harm, and who's greatest export is arm's too said countrys, has more army bases around the world than any other country. Is owned by China and told what to do by israil. I guess that is progress to american eye's it was only yesterday they stopped hanging blacks and shooting the natives. LOL

[aragon667]

@uplift20 we produce stuff for our selves. we start wars cause we dont give a fuck about whatever shity country you are from who probly exports anything. as far as china goes im sure you have just as many things from china. israil tells us nothing i dont know why you think you know about us. and as far as the last sentence idc. and YOU JUST PROVED WE WERE THE APEX BY BEING SO INTERESTED IN US YOU LEARNED ALL OF THIS BS.

[aragon667]

*doesnt export

[uplift20]

@aragon667 Produce stuff for yourself, Lol keep telling yourself that. China owns you. Fact. I now all this couse i know world history and America just keeps coming up in other countrys that i just ended up knowing a lot about it. You would think the Apex off man would know something about the world around it but Americans don't know shit (as you've proved buy your reply) so keep producing your shit and selling guns and telling youself how free you are.LOL

[aragon667]

@uplift20 lol how do you figure we know nothing about the world around us. you know all of us or even most of us? no? didnt think so. and as far as the stuff you are saying its just as ignorant as anything ive said but for some reason you people never seem to see both sides of things and have the need to think your always right just as you accuse us of the same thing

[uplift20]

@aragon667 Not one of my fact's is the same as your statement. "because you guys have no progress", with those words alone you proved your ignorance. With those word's you showed your side of the story ie America has done no wrong, Can do no wrong. And those who disagree are Unamerican. Right? I may not know all Americans but i can spot the ignorant one's. Lol

[aragon667]

@uplift20 i didnt say you said the same thing as me you dumb ass. and that first comment was a joke you fucking looser and im not gonna even gonna read the rest because like i said before you dont seem to see the ignorance in what you say.

[rydholm]

The shit is just about hit the fan. After Greece falls the rest will fall like domino-blocks.

[LibertyDownUnder]

At the end: "A terrific work in progress".

I don't know how someone so smart can be so ignorant about how Governments handled this crisis.

[gre8]

@LibertyDownUnder Because he´s smarter than you think. He doesnt say that because he doesnt know what he is saying. He says it because it is somehow profitable for him, no matter if it´s true.

[SurvivalGrounds]

We can trust Warren Buffett...

LOLLOOLOLOLOLO.

[hablerz]

The GDP of America is people selling Chinese goods to each other. Im sure people will never have faith in Goldman either.

[Quilbo]

i love how they talk about "people" referring to them (us) with "they will do, they will buy, they will". As if they are not part of our poor race, they belong to another world, they are not persons.

bah.

[claatu]

Can we trust Zionists ? No, they got kicked from europe for a reason, usa hosted them, usa can't kicked them back, so usa tried dumping their power to south america, that didn't work (thousands of dead in revolutions) now their capitalism (aka thin airalism) penetrated back in Europe. Greeks are not stupid (they invented everything), Italians are tired to see their restaurants going failed and see McDonalds taking place. Italians did same shit back in 1861,it really tried hard to fall in shit.

[RobGordon35]

I still think the US is sinking, not because the situation is unsolveable, but because certain groups dont want it solved.

[lxequip]

America changed, and American government changed. Tidying up all the high rank people who bullshit too much will take a lot of time and effort, and people haven't yet recognized the problem, needless to say started solving it

[GinsingSullivan]

He could not be more wrong. Time will tell.