Ron Paul Has a Gold Ally in the Buffett Family
"I think gold is a great thing to sew into your garments if you're a Jewish family in Vienna in 1939, but I think civilized people don't buy gold. They invest in productive businesses."
|Warren Buffett once bought a third of the world's silver supplies.|
Some might be stung by the hypocrisy of this statement: Warren Buffett -- Munger's business partner at Berkshire Hathaway -- once bought a third of the world's silver supplies when he thought the metal was underpriced. But I can think of a man who would have taken ideological issue with Munger's comments: Warren Buffett's dad.
The late-Congressman Howard Buffett is a posthumous pillar of the Libertarian party, the anti-war movement and asset-backed currency -- the "Ron Paul of his day," according to Philip Klein. And on the subject of gold, Buffett Sr. may have penned the best-ever essay in support of a gold standard: "Human Freedom Rests on Gold-Redeemable Money."
Is there a connection between Human Freedom and A Gold Redeemable Money? At first glance it would seem that money belongs to the world of economics and human freedom to the political sphere.
But when you recall that one of the first moves by Lenin, Mussolini and Hitler was to outlaw individual ownership of gold, you begin to sense that there may be some connection between money, redeemable in gold, and the rare prize known as human liberty.