by David Russell
GoldCore
There was a time when Warren Buffett thought gold was a waste of good storage space. Now, he holds $348 billion in cash and is openly worried that the very thing backing that pile, the US dollar, is, to use his phrase, “going to hell.”
We should all pay attention when the man from Omaha gets nervous. Buffett doesn’t panic. He doesn’t bluster. He calmly observes. And what he sees is a country gorging itself on debt while fiddling with fiscal policy like it’s a toddler with a box of matches.
It’s fashionable, especially among financial traditionalists, to dismiss fears of the dollar’s decline as tinfoil-hat territory. But lately, there are a lot more hats out there, and for good reason.