Don’t just sew; lock and load!
Gary North clarifies Warren Buffet’s right hand man.
“Gold is a great thing to sew onto your garments if you’re a Jewish family in Vienna in 1939 but civilized people don’t buy gold – they invest in productive businesses.” ~ Charlie Munger
Charlie Munger is Warren Buffett’s partner. He is 88 years old. You can see his remark in this brief extract from an interview on CNBC.
That sounded clever. But cleverness can conceal a great deal.
Jews in Vienna were civilized people. Uncivilized people had been running the government ever since March 1938. The Nazis were in charge.
The trouble facing civilized people who are under the control of uncivilized people is that they suffer from an illusion. They don’t understand the degree to which the uncivilized people are uncivilized.
Read the rest here.