Meanwhile, gold and silver are in long-term ‘Super Major Uptrends.’ That’s one way to protect yourself, and that’s for survival purposes, not for capital gains. Whatever happens next, sooner or later the world must return to wealth in the ground. So, I think that mining stocks deserve a place in all farsighted portfolios.”
That's a quote from James Dines in his latest interview at King World News: LINK
So I guess myself and the other countless bloggers who shredded Charlie Munger over the weekend, and have previously disemboweled Warren Buffet's and Bernanke's comments about gold, are not the only ones understand the fundamental flaw in looking at gold as strictly an "investment."
And one has to wonder why the Becky Quicks of the bubblevision media world do not ask Munger or Buffet why China, India, Russia et al - plus many Central Banks - feel compelled to load up on physical gold and silver. How do these investment gurus explain that? Here's a good article not published by mainstream media that reviews the latest move by China to commence silver futures trading on the Shanghai Futures exchange: LINK
Perhaps the Truth about Buffet's hatred of gold is best expressed in graph which shows the long term performance of Berkshire Hathaway stock priced in terms of gold - this is the market expressing it's view: