I Can't Believe Charlie Munger (Buffet) Said This On TV

                                                        
 "gold is a great thing to sew onto your garments if you're a Jewish family in Vienna in 1939 but civilized people don't buy gold"   - Charlie Munger on CNBC  LINK

Is that the first salvo by the elitists to start pointing the finger at the Jews and placing blame for the economic apocalypse brewing on anyone beside themselves?  This hauntingly reverberates of Germany circa 1934.

He made that remark in response to comments that hedge fund manager David Einhorn - who is obviously Jewish - made with regard to why he keeps a high percentage of gold in his fund

If we didn’t have a Jelly Donut monetary policy, I would sell gold, sell bonds and buy stocks. But, the Fed is filled with academics who thoughtlessly rely on econometric models that reflexively indicate that repeated Jelly Donut orgies are the best way to get a sugar rush into the economy. And, the Fed Chairman seems to have no trouble rationalizing any policy failure on the basis that ‘monetary policy cannot be a panacea,’ or ‘it’s bad luck,’ or as proof that he just hasn’t force fed us enough Jelly Donuts, yet. As long as this is the case, it seems unlikely the Fed will change course.”

“As a result, I will keep a substantial long exposure to gold — which serves as a Jelly Donut antidote for my portfolio. While I’d love for our leaders to adopt sensible policies that would reduce the tail risks so that I could sell our gold, one nice thing about gold is that it doesn’t even have quarterly conference calls.”

Here's the link from the HuffPo:  LINK

I have just two quick comments: 

1)  Gold is NOT an investment, per se.   Gold is the world's oldest currency and you exchange your fiat currency (dollars, euros, yen, yuan) into gold as an insurance policy against catastrophic Central Bank and Government policies which serve to destroy the value of fiat currencies and destroy democracy.  Gold can ONLY be considered an investment to the extent that it remains significantly and historically undervalued in relation to the fiat currencies against which its value is measured.

2)   I seriously can't believe that Charlie Munger made that comment for public consumption.  The Buffet Klan is slowly throwing gasoline on themselves and lighting themselves on fire in the eye of the public.  Anyone has the right to be a racist or harbor hate.  But for a highly public official or corporate officer - someone considered a business or political leader - to make those remarks on t.v. for public consumption, reveals just how infected our entire system has become with corruption, defamation, deception and overall societal decay.  It shows the extent to which our system is sliding in fascism and totalitarianism....

As it has been said..."good luck and good night."