Richard Russell Calls Buffett Ignorant, And Says Gold Is On Its Way To $6,000
Gus Lubin
Mar. 7, 2011, 7:11 AM
Translation by Autumnson Blog
With gold breaking to record highs, Dow theorist Richard Russell takes on the world's most famous gold bear, Warren Buffett (via King World News):
隨著黃金突破歷史性高位,道瓊斯指數理論家理查德羅素挑戰世界上最著名的黃金淡友沃倫巴菲特(通過王者世界新聞):
When investment "geniuses" like Warren Buffet displays his ignorance by denouncing gold, it adds little to his legacy. Warren's dad, Howard supported the gold standard). Warren Buffett's problem is that he only understands balance sheets and earnings. The value of a Picasso or a gem diamond or a bar of gold is outside Buffett's understanding. Which is sad, because Buffett's lack of understanding has kept many an American on the sidelines while gold surged higher in terms of Buffett's beloved paper currencies.
當投資“天才”像沃倫巴菲特因彈劾黃金顯示他的無知,它沒增加多小到他的遺贈。沃倫的父親霍華德支持金本位,沃倫巴菲特的問題是,他只看明白資產負債表和收益。一幅畢加索或一粒寶石級鑽石或一條金條的價值,是巴菲特的理解之外的。那令人惋惜,因為巴菲特的缺乏了解使許多美國人一直在旁邊,當黃金冲上以巴菲特心愛的紙幣計算較高價的時候。
Russell says gold is on its way to $6,000:
羅素說黃金是在升上$6,000的途中:
This time, gold has, so far, only multiplied five times -- from 255 to 1430. If gold was to repeat its 1970 performance and multiply 24 times, it would rise to over 6,000. But there's a difference between the two gold bull markets: This time the other half of the world's population (China, India, Asia) has been added to the mix. And this time, the very viability of fiat currencies is a part of the picture.”
這一次黃金到目前為止,只被乘以五倍 - 從 255到1430。如果黃金會重覆它的1970年表現和乘以24倍,它行將上升至超過 6,000元。但有一處不同在兩個黃金牛市之間:這一次世界人口的另一半(中國、印度、亞洲)已被添加到組合中。和這一次,那法定貨幣的非常活力是圖畫的一部分。“
Buffett riled up the goldbugs with various comments last week on CNBC. For instance:
巴菲特上週在CNBC以多種評論激怒了金甲蟲。例如:
"If you took all the gold in the world, it would make a 67 ft cube. It would be worth about $7 trillion, about a third of the value of all the stocks in the U.S. So you can own gold, which can do nothing, or stocks. You could also have farmland. If you gave me the choice, between all the farmland in the country, stocks like ExxonMobile, or gold, I'd choose the stocks and the farmland."
“如果你取去世界上的所有黃金,它會做成一個六十七呎的立方體,它會價值將約 7萬億美元,大約是美國所有股票價值的三分之一。那麼你可擁有黃金,它做不到甚麼,或股票,您亦可有耕地;如果你給我選擇,在國家的所有農田、股票像埃克森美孚公司、或黃金之間,我會選擇股票和農田。“
http://www.businessinsider.com/richard-russell-gold-6000-2011-3
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