Chapter 830 Gold Is Useless

Whenever a major event is about to happen, the media in the United States cannot watch it. It's not a family or two, including White Media, all of them don't know what to say.

Soros is also very entangled now. Of course, he is one of the insiders in the recent media briefing. However, the changes he hoped to see did not materialize.

Every time he saw William White answering irrelevant questions, Soros felt a pain in the ass.

People asked you if you were optimistic about the Asian economy, and you said that Asian food is very good. People asked you if you were worried about low oil prices, and you said that environmental protection is more important. From that point of view, the business is nothing but floating clouds.

Today, even if the answer is irrelevant, the reporter will not make things difficult for him. No one is going to offend a media giant, especially this giant is not only young, but also very narrow-minded.

"Gold? No, no, gold has no value at all, it's just a nicer metal.

You extract them and spend manpower and material resources to store them, but this thing has no currency attribute at all. "

"Hahaha, hahaha, this old product is really worthless. If you give me three to five hundred tons, I don't care about the storage fee."

Seeing Buffett talking eloquently on TV, William White couldn't help laughing.

"Daddy, what is an old guy?"

"Ahem, Athena, well, this is not a good word, well, Daddy is wrong, he shouldn't be swearing at the dinner table. In this way, I will be fined not to eat ice cream for a week."

Athena rolled her eyes wildly, with a look of disapproval. You don't eat ice cream in the first place, of course it doesn't matter.

This is the upbringing of the US Emperor, no matter how rough it is after going out, when you are at home, you must be very, very gentle. Words starting with F must never appear at home.

"Daddy, why did he say that gold is worthless? Is my bracelet also worthless?"

"Hehe, because some people need a lot of gold, if it is said that gold is very valuable now, they will not be able to buy it.

So, Athena, it doesn't matter what other people say, you have to look at the essence of the matter. In other words, if the price of gold falls, who will benefit more. "

Seeing William White talking to his daughter, Suzuki rolled his eyes wildly. Let alone Athena, even she couldn't figure it out. Of course, William White didn't expect her to understand. This is called subtlety. As long as you have enough time and enough experience, you will always figure out these things.

As for what Buffett said, it would be wrong to say that they are all wrong. Indeed, after the United States withdrew from the Bretton system, gold lost its role as a currency. At this point, it really is just a precious metal.

But the question is, can we trust your integrity?

The U.S. dollar is a credit currency, and the currencies of the world are based on the U.S. dollar. If the U.S. emperor doesn’t want 13 faces, the banknotes in this world will be worthless.

Does the US emperor have morals?

You don't even have to ask Maozi, just go to Wall Street and ask. Everyone will tell you that as long as there are benefits, it's a waste of money.

Buffett's theoretical basis is that companies like Coca-Cola, Johnson & Johnson, and Nestle are constantly creating value. You hold their stock and they pay good dividends every year.

If you sleep with a gold nugget, it will still be a gold nugget after a hundred years without any growth. In order to protect this piece of gold, you also need to work hard.

Sounds plausible and impeccable. Unfortunately, his analogy is wrong.

What a painful choice to sleep with gold in your arms. Could it be that you can't mortgage it to the bank?

Worried about falling prices?

Can't you hedge in the futures market?

Therefore, Buffett's assumption is not valid. Gold is mortgaged to banks and then hedged in the futures market. With the funds in your hand, you can still buy the stocks he mentioned.

What? Same?

How could it be, when gold plummeted, or something like that. Once an uptrend is established, you don't need to hedge. Suppose you set a value of 400 now, you can hedge if it is lower than 400, and you can do whatever you want if it exceeds 400.

Twenty years later, you will find that you have earned money from so-called value investing. You also avoid the risk of inflation. At the same time, your piece of gold has never left you.

A super-large gold mine was discovered in Tu'ao, but a group of bankers discovered that the gold had not entered the so-called circulation area.

Don't think about it, these things must be in White Bank.

Well, some people are very upset. Nima, you are not engaged in gold trading, why are you holding so much gold in your hand. Well, sell it now.

"Felson, did you hear what Buffett said? What do you think?"

"Boss, he eats too much. There is no conflict between investing in securities and holding gold."

"Yeah, it's a pity that many people don't understand."

Filson smiled wryly. It doesn't really matter whether you understand it or not. Other people's situation is different from yours. When it comes to your level of funds, everyone is talking about investment portfolios, and no one is putting all their eggs in one basket.

"No, Filson, that's not what I meant. It looks like they're going to get their hands on gold soon. Like the damn oil price, they're going to knock gold down."

William White rubbed his pulsating temples, Nima, these bastards are too fastidious. If you guys don't have the foresight, you will be taken away in one wave.

Many loans of the richest man are secured by gold. Personally, no one in this world holds more gold than him.

Oil prices shouldn't be that expensive, let alone twenty dollars, depending on the current situation, it might be about $15. This is still a situation where the economy is improving. On the contrary, oil prices will definitely return to below ten dollars.

Judging from the current situation, William White does have certain financial problems.

"Boss, we have hedges, and they far exceed your holdings."

"No, that kind of feeling is different. Why do I feel that my wealth is constantly shrinking?

I would rather not make these hedging money, and, in the next period of time, the price of gold will definitely jump up and down. Alas, be prepared for anything, anyway. "

"Okay, boss, I'll keep an eye on them very seriously."

"To tell you the truth, Filson, our central treasury may not have that much gold. It is very likely that they will use this wave of market conditions to restock."

"No, it's not that outrageous, is it?"

"Well, let's not talk about this, even if it's all copper, so what. There won't be any problem for the time being."

Felson was really speechless, let alone outsiders, Clinton had no right to investigate. The thing about the Federal Reserve Bank is that the group of old guys talk to themselves.

Of course, even if William White really knew something, he wouldn't say it even if he was killed. For rich people, peanut meal is not terrible. The Mi Fed is different. This is simply an unsolvable existence.

To say that the most powerful person in the world, Lao Ke is definitely not on the list.

What, Greenspan has so much power?

Wrong, all wrong, the US Federal Reserve is the US Federal Reserve, and the chairman of the Federal Reserve Bank is the chairman of the Federal Reserve Bank. To put it bluntly, it is the same way as the Secretary-General. You say you have no rights, right? The rights are still very strong.

The Federal Reserve has seven executive members, and Greenspan is only one of them. This term is 14 years. This means that although Paul Volcker is no longer the chairman of the Federal Reserve, he is still one of the Big Seven. As for the other five, you can do the math yourself, they are all famous families anyway.