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Politics : Welcome to Slider's Dugout -- Ignore unavailable to you. Want to Upgrade?

To: RonMerks who wrote (1720)	5/31/2006 1:58:28 PM
From: Postman	Respond to of 50317

Buffet actually lost on a trade?

To: RonMerks who wrote (1720)	6/2/2006 12:57:50 AM
From: SliderOnTheBlack	Respond to of 50317

re: Buffet/Silver and Sinclair's comments this morning: Hmmmm, the 'bugs seem to be a bit divided here. C'Mon sheeple -- y'all supposed to be singing out of the same hymn book and drinking the same flavored Kool-Aid. Half of the goldbugs are furthering the conspiracy theory that Buffet supplied the Silver for the SLV ETF and the other half of the goldbug camp seems to "need" to villify Buffet because he dared to say that commodities had reached "bubble" price levels... and insist that he lost money on both his US Dollar short and his massive physical Silver position. ...he rather obviously made money...and quite a bit of it -- on both. Sinclair in his essay today, has now jumped on the bandwagon and is furthering the story of Buffet having just recently closed out his Silver position and in fact supplied the stock for the SLV ETF. Did he, or didn't he ? Only his hairdresser knows for sure... A couple of weeks ago while the 'bugs were villifying Buffet for saying that commodity prices had reached bubble levels -- I opined that the Kool-Aid drinkers missed the boat in not pushing a Buffet-AIG Derivatives/Silver Conspiracy Theory...ie: ************************************************************************************************************ Message 22454359 5/16/2006 12:38:54 AM From: SliderOnTheBlack Read Replies (2)1588 of 1729 "...Actually, I'm surprised that someone hasn't written a story for gold-eagle yet...speculating that Buffett was blackmailed by the "cabal" and was forced to surrender his Silver in exchange for the Government ceasing the investigation into his Insurance derivatives shenanigans with AIG ?" ********************************************************************************************************* Well it didn't take too damn long... someone emailed me a link to this classic below: ************************************************************************************************** gold-eagle.com Fibrillated Silver Bull Flag - Jim Willie CB Back to the silver world, where yet another suspicion can be distilled. Warren Buffett might have bought his way out of legal trouble. He at Berkshire Hathaway sold prematurely the 129 million oz of silver. Why? Cannot this financial genius read the gold tea leaves? Cannot this legendary investor comprehend the monetary earthquake shaking the central bank paper pillboxes? Buffett was in hot water with buddy Hank Greenberg and the AIG fraud investigation. ****************************************************************************************************** Hmmm, that didn't take long - now did it ? ROTFLMAO Simply Amazing.... The Silver Bulls are now coming out of the woodwork -- AFTER it's doubled in price and vastly outperformed gold....and the goldbug's are now pounding their chests about being in CASH ?!?! 'bugs gone wild !?!?! -- whodathunkit? I think it's now Day 1,037 since I've seen a single original "idea" here on SI. More smoke being blown by the 'bugs here of late than in a Turkish Waterpipe Casbah... And if that wasn't enough... here's some more inaccurate Buffet-bashing: ****************************************************************************************************** kitco.com "Maybe my suspicions are too contrived. It could be that Buffett simply exited his silver trade early, bagged the still sizeable profit, offset his huge loss on the USDollar short currency position, then washed his hands of commodities and currencys. He gambled against the USDollar almost precisely at the intermediate bottom, in the last months of 2004. He misinterpreted the effect on the USDollar from the USFed tightening cycle, as did many in the gold community. Warren don’t know currencys." *********************************************************************************************************** What is up with this massive effort from the goldbug community to smear Buffet ? The above quote from mr. mo-ron's kitco-konspiracy kommunique, states that Buffet went short the US Dollar at quote:unquote "in the last months of 2004." BALDERDASH ! That's patently false...and a simple google search, or perusal of Berkshire reports would verify that... as Buffet already had $12 Billion bet against the dollar in 2002-2003 ie: forbes.com ["His bet against the dollar, reported at $12 billion in his last annual report (for Dec. 31, 2003), has gotten all the bigger. Now his Berkshire Hathaway has a $20 billion bet in favor of the euro, the pound and six other foreign currencies." Buffet starting shorting the dollar AND going long a basket of currencies - as a HEDGE in 2002 ...ie: ["The $20 billion bet has to be put in context. Berkshire has a huge portfolio of investments that includes $40 billion of Treasury securities. Budget and trade deficits are likely to make dollars worth less and bonds worth less. So the currency play is a partial hedge of a large position that can be read as bullish on the U.S."] And he made money -- ie: ["Berkshire lost $205 million on currency speculations in the first half of 2004, but more than made that back with a $412 million gain in the third quarter. It's likely that the December quarter report will show another huge gain."] Here's another verification of Buffet's US Dollar short starting in 2002: *************************************************************************************************** answers.com 2002: (72 years old) Buffett entered in $11 billion dollars worth of forward contracts to deliver US dollars against other currencies. 2003: (73 years old) By December 31 his gain on the contracts from last year were over $600 million dollars. Buffett also placed second to Ralph Nader in an online web poll, conducted by iswitched.org, of possible candidates for the Green Party nominee for President in 2004.[6] 2005: (75 years old) The gains from the 2002 contract were reduced in 2005 when the US dollar strengthened. ************************************************************************************************************** I can't believe that Gold-Eagle AND Kitco print this mo-ronic drivel...and don't even bother to correct, or fact-check basic facts !?!?! ...well, actually I do (vbg). Goldbugs bashing Buffet and turning on him like rabid dogs because he dared tell the truth about the bubble in commodities. Warren Buffet ?!?!? What's next -- Hot Dogs, Apple Pie & Mothers Day ? 'bugs can't take the truth... couldn't handle the truth for nearly 20 years after the last bubble in gold....never could and never will. Blatantly twisting the facts and trying to smear Buffet's credibility may be the final desperate act of denial, delusion and rationalization... SOTB