Lee Quaintance and Paul Brodsky: Why Buffett is wrong on gold

Section:

3:25p ET Tuesday, February 28, 2012

Dear Friend of GATA and Gold:

In their latest market commentary Lee Quaintance and Paul Brodsky of QB Asset Management in New York respond to renowned investor Warren Buffett's disdain for investing in gold. Quaintance and Brodsky argue that gold is simply superior money, less susceptible to devaluation.

Of course GATA would qualify that, arguing that gold indeed has been enormously devalued by government-supported issuance of immense paper claims to metal that doesn't exist -- that much if not most of what the world considers its gold supply is actually imaginary, that only this imaginary supply explains gold's much-disparaged failure to keep pace with inflation, and that the gold market is vulnerable to a short squeeze of cosmic proportions. But that's only another argument in gold's favor.

The Quaintance-Brodsky rebuttal to Buffett is titled "Golden Boy" and it's posted at GATA's Internet site here:

http://www.gata.org/files/QBAMCO-GoldenBoy-02-2012.pdf

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.



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Golden Phoenix Discusses Royalty Mining Growth Strategy
on '21st Century Business' on Fox Business Network

Golden Phoenix Minerals Inc. has discussed its royalty mining growth strategy on the Fox Business Network program "21st Century Business" with host Jackie Bales. Golden Phoenix's director of corporate communications, Robert Ian, told how the company narrows its focus to project generation and future royalty streams. He explained why Golden Phoenix believes it's better to own joint-venture interests in several producing mines instead of full exposure to just one project.

"21st Century Business" has been airing for 15 years. Previous hosts have included Gen. Alexander Haig, Gen.l Norman Schwarzkopf, and Secretary of Defense Caspar Weinberger. Golden Phoenix appeared as paid programming on this broadcast.

To view the program with Golden Phoenix, please visit Golden Phoenix's Internet site here:

http://goldenphoenix.us/fox-business-network/


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