Gold Buying May Rise as Buffett Hints at Inflation 'Onslaught'
Source: BullionVault (3/3/09)
"People are saying equities are still too risky, bonds are shaky - [gold] is just very, very attractive at the moment. . ."
Warren Buffett, whose company Berkshire Hathaway Inc is currently worth around $25.54 billion, made a host of negative assessments of treasury debt in his annual letter to shareholders.
If his comments are to be believed, then anyone with a gold investment will be looking to make a massive return, as inflation tends to send the price of the yellow metal rocketing.
According to the news provider, Mr. Buffett wrote: "In poker terms, the [U.S.] Treasury and the Fed have gone 'all in'. Economic medicine that was previously meted out by the cupful has recently been dispensed by the barrel.
"These once-unthinkable dosages will almost certainly bring on unwelcome after-effects. Their precise nature is anyone's guess, though one likely consequence is an onslaught of inflation."
"People are saying equities are still too risky, bonds are shaky - [gold] is just very, very attractive at the moment," he told Reuters.