Warren Buffett Admits He Doesn’t Understand This Economy (Which Explains His Pivot To Gold)

The coming world is one where the excesses of the past produce chaos for everyone except gold bugs…

by John Rubino of Dollar Collapse

Iconic investor Warren Buffett’s superpower is the ability to understand how companies work and tell which will generate the most and most consistent cash flow. This has (along with, yes, some recent gaming of the system) allowed him to make his investors rich beyond most of their wildest dreams.

But the world we’re heading into is very different from the one where Buffett made his money. His world was a place of expanding credit floating most boats. The coming world is one where the excesses of the past produce chaos for everyone except gold bugs.

Here’s a video from June in which “the Oracle of Omaha” sounds like a befuddled old man with no idea what to do next:

This confusion explains his recent decision to sell bank stocks and buy shares in Barrick Gold, because gold is where you hide out when you see bad and/or incomprehensible things coming your way.