Re:Warren Buffett: Stay Away From Bitcoin. It's A Mirage
by ForHackernews on Friday March 14, 2014 @12:41PM
(#7400033)
> Why hoard rice...
Why hoard gold? Inflation-protected treasury bonds can "represent wealth" in an even smaller, more efficient manner.
> Someone like Warren Buffet must truly believe that the American Dream will never expire, its currency never weaken in the eyes of the world, it's stocks always be cutting edge.
As he says, "400 million acres of farmland will have produced staggering amounts of corn, wheat, cotton, and other crops – and will continue to produce that valuable bounty, whatever the currency may be"
Even if you believe that in the future humans won't need to eat crops, or that climate change will so damage the environment as to render US farmland barren, the general case for owning productive assets over holding unproductive stores of value seems like a good one.
Why hoard gold? Inflation-protected treasury bonds can "represent wealth" in an even smaller, more efficient manner.
> Someone like Warren Buffet must truly believe that the American Dream will never expire, its currency never weaken in the eyes of the world, it's stocks always be cutting edge.
As he says, "400 million acres of farmland will have produced staggering amounts of corn, wheat, cotton, and other crops – and will continue to produce that valuable bounty, whatever the currency may be"
Even if you believe that in the future humans won't need to eat crops, or that climate change will so damage the environment as to render US farmland barren, the general case for owning productive assets over holding unproductive stores of value seems like a good one.