I hate deception in economics (user search)
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  I hate deception in economics (search mode)
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Author Topic: I hate deception in economics  (Read 1807 times)
Indy Texas 🇺🇦🇵🇸
independentTX
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Posts: 12,284
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Political Matrix
E: 0.52, S: -3.48

« on: August 15, 2020, 03:09:11 PM »

How is this deception in "economics?"

Warren Buffett isn't an economist. He's a businessman. He's not obligated to be honest with you; he's obligated to make money for himself and his shareholders.

Maybe the reason Republicans were so conned by Donald Trump is that they don't understand that businessmen aren't benevolent "job creators."

Regardless, you can be interested in buying Barrick Gold for reasons unrelated to gold exposure. Mining has some correlation with precious metals but mining stocks aren't a perfect substitute for them. And contrary to its name, Barrick Gold also mines copper, which has plenty of industrial/electronic applications; there are plenty of reasons to buy stock in that company that have nothing to do with goldbug conspiracies.
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Indy Texas 🇺🇦🇵🇸
independentTX
Atlas Icon
*****
Posts: 12,284
United States


Political Matrix
E: 0.52, S: -3.48

« Reply #1 on: August 16, 2020, 05:22:24 PM »

it's still disingenuous for him to sell stocks, buy gold, and tell the public not to buy gold.

He didn't buy gold. He bought shares of a company that mines gold.

Implying these are the same thing would be like saying me buying shares in Apple and me buying a bunch of iPhones are the same thing.
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