This week, legendary investor Warren Buffett sounded a public cry for the government to be careful of inflation. You can check out his widely read op-ed piece in the New York Times here.
To paraphrase Buffett, his warning goes like this: We've headed off financial disaster by doling out a bunch of free money and credit. But we'll need a smart performance by our politicians to prevent a big inflationary mess because of it.
Buffett's warning should scare the heck out of anyone with a lot of dollar savings in the bank. You see, we sat down yesterday to recall the number of times the government has made a huge mess of things by not turning in a smart performance. We were soon exhausted from all the thinking. Fannie Mae, Freddie Mac, Hurricane Katrina, Vietnam, Iraq, the tax code, and Social Security are a few things that came to mind.
All that got us thinking about this question: Are you going to own dollars and place your lot with a group of bureaucrats – most of whom have never lived outside of government la-la land or college – trying to successfully diffuse the biggest monetary bomb in history? Or are you going own Gold and place your lot with the oldest, safest form of honest money? It's an easy choice.
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