Monday, December 30, 2013

Buffett blasts gold lovers

No, not Warren....Jimmy. It seems like none other than musician Jimmy Buffett understands the silliness of the gold lovers. Recently I was listening through his latest album, when the song "Useless but Important Information" came on. Admittedly, its not a terrific song, but Buffett had some interesting ideas about gold: 

"...Gold all starts out in the ground
 Till very clever men dig it up 
Then wait, then they bury it again  
Most comes from Africa and ends up in Fort Knox
Only gets its value from the guards and chains and locks...pretty rocks..."

Seems like this 67 year old singer/songwriter understands commodity price manipulation pretty well! If a guy with just a bachelors degree like Jimmy Buffett can understand this, why cant the gold bugs/Von Mises/Peter Schiffs/Ron Paul types of the world get it? Perhaps professional economics often does more harm than good? 

Maybe its time to make "Margaritaville" the official MMT anthem ;)


Clonal said...

BTW, Jimmy Buffet is Warren Buffet's son

googleheim said...

Definitively let them eat jelly beans