BUFFET: Don't mess with the Fed's "independence"

[sofia]

another Bildeberger asshole...

http://www.cnbc.com/id/34051240

Becky: Hey Warren, you said you had thoughts on the Dodd legislation, that -- We spoke this morning with Ric Mishkin who teaches here, the former Fed governor. And he's very worried about the Fed’s independence and not only the (Connecticut Senator Chris) Dodd legislation that’s out there but the (Texas U.S. Representative) Ron Paul legislation. Just things that would take power away from the Federal Reserve... Do you worry about that?

Buffett: Well, I think there is nothing more important in the economic future of the country than to have an independent Fed. And I think that’s been demonstrated over the years. I think it was demonstrated even particularly last fall. But we do not want to fool around with the independence of the Fed.

[FrankRep]

I like Warren Buffet, but his loyalty to the Fed scares me.

[georgiaboy]

wow - we must really be on to something here if these guys are talking this way. love, love, love it.

wonder how many times the independent Fed has helped out Warren?

[Arklatex]

"Gold gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head. "



Warren Buffet on Gold


That dude doesn't have a clue. http://geology.com/minerals/gold/uses-of-gold.shtml

[specsaregood]

wonder how many times the independent Fed has helped out Warren?

I think it all boils down to that.

[JamesButabi]

If you're a financial elite, this scares the bejesus out of you. You know the system is a sham, you know private interests steal the wealth of the people, and you want to perpetuate this scheme as long as possible to delay the inevitable.

[Nate]

If you're a financial elite, this scares the bejesus out of you. You know the system is a sham, you know private interests steal the wealth of the people, and you want to perpetuate this scheme as long as possible to delay the inevitable.

+1
The FED is great if you are one of the insider elite. Gangsters always want to protect their racket.

[Chester Copperpot]

wow - we must really be on to something here if these guys are talking this way. love, love, love it.

wonder how many times the independent Fed has helped out Warren?

The guy bought $5 billion in goldman sachs stock only to have it go up 11% in like 2 months or so.. I means 11% that what $550 million?? Pretty tidy profit just for giving an interview or two eh?

[RevolutionSD]

I like Warren Buffet, but his loyalty to the Fed scares me.

What do you like about Warren Buffet?

He's a socialist who believes that everyone else besides himself should pay more taxes!

[georgiaboy]

this brings the old saying "privatize the gains, socialize the losses" into a whole new perspective. maybe someone can cleverly rephrase it to capture this new spin of keeping the fed 'independent'.

[Dieseler]

I'm not sure how much further this will have to go before real people begin to be really threatened.