I hate deception in economics

[Saint Milei]

Basically everyone should be upset at someone arguing to defund/abolish the police, while also having a strong police force in their community, call them when riots occur, or have their own private security.



So just imagine a CEO telling the world the economy is going to recover and telling people precious metals are worthless and unnecessary, while secretly buying them during a crisis like COVID.

https://www.bloomberg.com/news/articles/2020-08-14/berkshire-adds-barrick-gold-exits-delta-air-lines-13f


The elite are the enemy of the working class

[RINO Tom]

The working class seems to have made plenty good of enemies of each other.

[𝕭𝖆𝖕𝖙𝖎𝖘𝖙𝖆 𝕸𝖎𝖓𝖔𝖑𝖆]

What about the working elite?

[Southern Senator North Carolina Yankee]

The elite are the enemy of the working class

Insert joke about libertarians becoming socialists.


I always found the defund the police crusade counter productive. If you under staff the police, that is going to lead to more tragedies by overworked, over stressed and under supplied/paid cops. If you abolish the police, as you say, the rich will hire private security and the cities will become dominated by roving gangs of vigilantes, and for them equality before the law is likely not a standard operating procedure, or even innocent until proven guilt.

You want a police, a professional, well trained, well equipped (but not militarized) police force that is capable of enforcing law in a just an equitable manner. If there is a problem with that then fix the actual problems be it more community policing, better standards, less military grade weapons etc.

[True Federalist (진정한 연방 주의자)]

So just imagine a CEO telling the world the economy is going to recover and telling people precious metals are worthless and unnecessary, while secretly buying them during a crisis like COVID.

https://www.bloomberg.com/news/articles/2020-08-14/berkshire-adds-barrick-gold-exits-delta-air-lines-13f

Did you actually read the article?  Were you even aware that Warren is the process of turning over control of Berkshire Hathaway? For that matter, while some investors use gold stocks as a substitute for gold, they aren't gold. So yes BH is buying a gold stock, but there's no indication WB was behind the move, and  unlike his move into silver a couple of decades ago, it's stock and not physical metal itself that is being bought.

[Indy Texas]

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.

[Saint Milei]

So just imagine a CEO telling the world the economy is going to recover and telling people precious metals are worthless and unnecessary, while secretly buying them during a crisis like COVID.

https://www.bloomberg.com/news/articles/2020-08-14/berkshire-adds-barrick-gold-exits-delta-air-lines-13f

Did you actually read the article?  Were you even aware that Warren is the process of turning over control of Berkshire Hathaway? For that matter, while some investors use gold stocks as a substitute for gold, they aren't gold. So yes BH is buying a gold stock, but there's no indication WB was behind the move, and  unlike his move into silver a couple of decades ago, it's stock and not physical metal itself that is being bought.

Lol WB isn't turning over control of BH. I'm not sure where you are coming from. The first sentence literally points out his hypocrisy. He's selling his stocks in banks.

[Saint Milei]

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.

"gold exposure". Not sure what you are getting at here.


While it's true businessmen aren't obligated to be honest (no1 is really), there's obviously some level of trust between financial watchers and high-profiled businessmen that shouldn't be ignored here. If there wasn't, there would be no reason to ask CEOs about the state of the economy. And businessmen are expected to forecast just like economists.

[True Federalist (진정한 연방 주의자)]

So just imagine a CEO telling the world the economy is going to recover and telling people precious metals are worthless and unnecessary, while secretly buying them during a crisis like COVID.

https://www.bloomberg.com/news/articles/2020-08-14/berkshire-adds-barrick-gold-exits-delta-air-lines-13f

Did you actually read the article?  Were you even aware that Warren is the process of turning over control of Berkshire Hathaway? For that matter, while some investors use gold stocks as a substitute for gold, they aren't gold. So yes BH is buying a gold stock, but there's no indication WB was behind the move, and  unlike his move into silver a couple of decades ago, it's stock and not physical metal itself that is being bought.

Lol WB isn't turning over control of BH. I'm not sure where you are coming from. The first sentence literally points out his hypocrisy. He's selling his stocks in banks.

Now I know you're not bothering to read the article.  BH is also buying stocks in other banks, one of which is BH's largest stake after its stake in Apple. And if you've paid any attention to Buffett or BH, you'd know he's currently in the process of turning over control because unlike some people, he has no delusions about living forever. He's almost 90 years old. He'll probably still have a veto over BH's major decisions until the day he dies, but he has definitely begun the transition process.

[Saint Milei]

So just imagine a CEO telling the world the economy is going to recover and telling people precious metals are worthless and unnecessary, while secretly buying them during a crisis like COVID.

https://www.bloomberg.com/news/articles/2020-08-14/berkshire-adds-barrick-gold-exits-delta-air-lines-13f

Did you actually read the article?  Were you even aware that Warren is the process of turning over control of Berkshire Hathaway? For that matter, while some investors use gold stocks as a substitute for gold, they aren't gold. So yes BH is buying a gold stock, but there's no indication WB was behind the move, and  unlike his move into silver a couple of decades ago, it's stock and not physical metal itself that is being bought.

Lol WB isn't turning over control of BH. I'm not sure where you are coming from. The first sentence literally points out his hypocrisy. He's selling his stocks in banks.

Now I know you're not bothering to read the article.  BH is also buying stocks in other banks, one of which is BH's largest stake after its stake in Apple. And if you've paid any attention to Buffett or BH, you'd know he's currently in the process of turning over control because unlike some people, he has no delusions about living forever. He's almost 90 years old. He'll probably still have a veto over BH's major decisions until the day he dies, but he has definitely begun the transition process.

I didnt say hes selling his stocks in every bank lmao what are you talking about? You either don't understand what I'm saying or are trying to misrepresent my position. Him selling stocks in banks that are more likely to fail has nothing to do with him purchasing stocks in banks that are more likely to weather a market correction. It would be like me getting upset at someone selling around 07 but buying stock in BB&T which weathered the storm.

And he's still on the board right now. Whether it's this year or in five years, it's still disingenuous for him to sell stocks, buy gold, and tell the public not to buy gold.

[True Federalist (진정한 연방 주의자)]

So just imagine a CEO telling the world the economy is going to recover and telling people precious metals are worthless and unnecessary, while secretly buying them during a crisis like COVID.

https://www.bloomberg.com/news/articles/2020-08-14/berkshire-adds-barrick-gold-exits-delta-air-lines-13f

Did you actually read the article?  Were you even aware that Warren is the process of turning over control of Berkshire Hathaway? For that matter, while some investors use gold stocks as a substitute for gold, they aren't gold. So yes BH is buying a gold stock, but there's no indication WB was behind the move, and  unlike his move into silver a couple of decades ago, it's stock and not physical metal itself that is being bought.

Lol WB isn't turning over control of BH. I'm not sure where you are coming from. The first sentence literally points out his hypocrisy. He's selling his stocks in banks.

Now I know you're not bothering to read the article.  BH is also buying stocks in other banks, one of which is BH's largest stake after its stake in Apple. And if you've paid any attention to Buffett or BH, you'd know he's currently in the process of turning over control because unlike some people, he has no delusions about living forever. He's almost 90 years old. He'll probably still have a veto over BH's major decisions until the day he dies, but he has definitely begun the transition process.

I didn't say he's selling his stocks in every bank lmao what are you talking about? You either don't understand what I'm saying or are trying to misrepresent my position.

I don't see how what you wrote could be construed as anything other than getting out of the banking sector, not a redirection of assets within the sector. If anyone misrepresented your position, it was you.

[Beet]

What is the justification for someone saying "the elite are the enemy of the working class" and yet being viciously anti-left?

[𝕭𝖆𝖕𝖙𝖎𝖘𝖙𝖆 𝕸𝖎𝖓𝖔𝖑𝖆]

What is the justification for someone saying "the elite are the enemy of the working class" and yet being viciously anti-left?

Siding with the elite?

[Saint Milei]

What is the justification for someone saying "the elite are the enemy of the working class" and yet being viciously anti-left?

I think you are thinking too much about my name but I will add the elite are anti-working class, while also being pro-left

[Saint Milei]

So just imagine a CEO telling the world the economy is going to recover and telling people precious metals are worthless and unnecessary, while secretly buying them during a crisis like COVID.

https://www.bloomberg.com/news/articles/2020-08-14/berkshire-adds-barrick-gold-exits-delta-air-lines-13f

Did you actually read the article?  Were you even aware that Warren is the process of turning over control of Berkshire Hathaway? For that matter, while some investors use gold stocks as a substitute for gold, they aren't gold. So yes BH is buying a gold stock, but there's no indication WB was behind the move, and  unlike his move into silver a couple of decades ago, it's stock and not physical metal itself that is being bought.

Lol WB isn't turning over control of BH. I'm not sure where you are coming from. The first sentence literally points out his hypocrisy. He's selling his stocks in banks.

Now I know you're not bothering to read the article.  BH is also buying stocks in other banks, one of which is BH's largest stake after its stake in Apple. And if you've paid any attention to Buffett or BH, you'd know he's currently in the process of turning over control because unlike some people, he has no delusions about living forever. He's almost 90 years old. He'll probably still have a veto over BH's major decisions until the day he dies, but he has definitely begun the transition process.

I didn't say he's selling his stocks in every bank lmao what are you talking about? You either don't understand what I'm saying or are trying to misrepresent my position.

I don't see how what you wrote could be construed as anything other than getting out of the banking sector, not a redirection of assets within the sector. If anyone misrepresented your position, it was you.

Sir, you clearly misrepresented my post.

[John Dule]

What is the justification for someone saying "the elite are the enemy of the working class" and yet being viciously anti-left?

Siding with the elite?

*Sweating nervously*

[𝕭𝖆𝖕𝖙𝖎𝖘𝖙𝖆 𝕸𝖎𝖓𝖔𝖑𝖆]

What is the justification for someone saying "the elite are the enemy of the working class" and yet being viciously anti-left?

Siding with the elite?

*Sweating nervously*

I was only explicitating what Beet was implying.

[Indy Texas]

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.

[Saint Milei]

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.

if he's buying stock in gold then...nvm

Compared the two to iphones and apple. Carry on sir

[SNJ1985]

What is the justification for someone saying "the elite are the enemy of the working class" and yet being viciously anti-left?

That is not inherently contradictory, even if one accepts the premise that left-wing economic policies are inherently beneficial to the working class. One can easily be ''viciously anti-left'' primarily, or entirely, because of certain stances they take on social/cultural issues that aren't inherently tied to economics.

[Alcibiades]

What is the justification for someone saying "the elite are the enemy of the working class" and yet being viciously anti-left?

That is not inherently contradictory, even if one accepts the premise that left-wing economic policies are inherently beneficial to the working class. One can easily be ''viciously anti-left'' primarily, or entirely, because of certain stances they take on social/cultural issues that aren't inherently tied to economics.

I can’t really think of many liberal social stances which actually damage the working class materially. Sure, some on the left make disparaging noises about blue collar culture in general, but so do many corporate conservatives when no one’s listening.

[Saint Milei]

https://nypost.com/2020/08/17/warren-buffett-confuses-wall-street-as-he-buys-gold-sells-goldman-sachs/

[Person Man]

What is the justification for someone saying "the elite are the enemy of the working class" and yet being viciously anti-left?

That is not inherently contradictory, even if one accepts the premise that left-wing economic policies are inherently beneficial to the working class. One can easily be ''viciously anti-left'' primarily, or entirely, because of certain stances they take on social/cultural issues that aren't inherently tied to economics.

I can’t really think of many liberal social stances which actually damage the working class materially. Sure, some on the left make disparaging noises about blue collar culture in general, but so do many corporate conservatives when no one’s listening.

Maybe if you talked about "the working class" in sort of racial,  instead of class based context, I totally agree.

If you are talking about integration and birth control meaning more people applying for the same job. That could drive down wages, but increase household income.

[TheDeadFlagBlues]

Do you worship gold as your diety? I thought that this community of cultists was wiped out when Priest Rand Paul was humiliated by Donald Trump, who demonstrated that gold was a false God and that he was the only one who could expel the (((central bankers)))) from their temple, rather than some element on the periodic table. During this period, many who gave offerings of fiat money to the gold god learned of a new mysterious god hidden in code, a new god to destroy the manna of the (((central bankers))) but this god was ignominiously destroyed after enrapturing the masses - another false God.

What kind of God will emerge next to do battle with the "elites" who move money around? Will it be wampum? Will you pray to sea shells? Or will you switch sides and join the exotic cult of the Magical Money Tree? Will it be the philosopher's faith of Dialectical Materialism? Or is it dank prax goldbugism forever?

In any case, it is amusing to see von Mises people in 2020!

[Velasco]

Do you worship gold as your diety? I thought that this community of cultists was wiped out when Priest Rand Paul was humiliated by Donald Trump, who demonstrated that gold was a false God and that he was the only one who could expel the (((central bankers)))) from their temple, rather than some element on the periodic table.

Lol, I think I will worship Moloch or join the Cult of Cthulhu instead. Thank you for raising a laugh, anyway