Warren Buffett, who has a long history with precious metals (his dad was a goldbug and Buffett himself is alleged to have attempted to corner the silver market in the late 80s), has done an about-face and decided that even Berkshire Hathaway’s portfolio needs exposure to the barbarous relic.
Berkshire Hathaway added nearly 21 million shares of Barrick Gold. A $560 million investment that’s sure to pique the interest of generalists who have followed Buffett in avoiding public stakes in gold equities.
Why the about-face? The current monetary policy isn’t sustainable at its current pace without consequential inflation rearing its head.
You didn’t have to be Warren Buffett to see the writing on the wall.
In just six months, the Fed’s balance sheet has ballooned from over $4 trillion to $7 trillion.
Globally there is now over $16 trillion of negative-yielding debt. A 40% jump this year.
Real inflation, for real people of course, is already here.
Have you seen the price of lumber recently?
While gold and silver have captured the bulk of the mainstream media attention, copper is quietly flirting with $3.00/lb. again.
Rare earths are in the news again as geopolitical tensions with China continue to escalate and countries realize they are likely 7 to 10 years away from being able to establish domestic critical metals supply chains… If they get aggressive now.
Explorers are starting to drill again as COVID-19 restrictions are slowly but surely easing.
Bottom line is this is a resource stock picker’s paradise and those who know what they are doing are going to make a fortune.
Many already have and it’s early in the game.
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The major U.S. indices, meanwhile, continue higher supported by a Fed that believes more inflation is better than less and “overshooting” on the inflation target is okay and even desired.
The policy ignores the incompetence of our political class and the real effects that its lack of leadership has had on the average citizen.
Here’s a chart of mortgage delinquencies.
Turns out the bank doesn’t care about your political affiliation when your government doesn’t allow you to work and you can’t pay your mortgage.
We know the Fed and central bankers around the world believe they can continue to manipulate inflation, target higher asset prices, and keep interest rates down.
We also know that global debt literally cannot afford higher rates.
What happens if the Fed and central bankers are wrong?
I believe we’ll find out in the next 12 months.
For now, at least, we have our own way to get gold for dirt cheap.
Read Next: $1 Gold Stock Going Vertical
By August 31, a critical announcement will reveal the biggest gold mine in America.
Sending this tiny miner that owns it down a path for up to 100-fold gains.
Its real gold windfall has been kept hidden from the public. But that's about to change for reasons you can see here.
You need to position yourself immediately.
Not only is the announcement coming…
But gold is approaching record prices… and as you'll see, a well-known billionaire who made $4 billion shorting the housing market in 2008 just went all-in on this tiny gold stock that's poised to become the biggest in America.