{"id":62590,"date":"2020-08-22T02:15:02","date_gmt":"2020-08-22T09:15:02","guid":{"rendered":"https:\/\/lenpenzo.com\/blog\/?p=62590"},"modified":"2025-01-01T10:30:42","modified_gmt":"2025-01-01T18:30:42","slug":"black-coffee-22-aug-2020","status":"publish","type":"post","link":"https:\/\/lenpenzo.com\/blog\/id62590-black-coffee-22-aug-2020.html","title":{"rendered":"Black Coffee: Hope Is Not a Plan"},"content":{"rendered":"

\"\"It’s time to sit back, relax and enjoy a little joe …<\/em><\/p>\n

Welcome to another rousing edition of Black Coffee, your off-beat weekly round-up of what’s been going on in the world of money and personal finance.<\/p>\n

Let’s get right to this week’s financial commentary …<\/p>\n

The first duty of a man is to think for himself.<\/em><\/p><\/blockquote>\n

— Jose Marti<\/strong><\/p>\n

The last duty of a central banker is to tell the public the truth.<\/em><\/p><\/blockquote>\n

— Alan Blinder, former Vice Chairman of the Fed<\/strong><\/p>\n

Credits and Debits<\/strong><\/p>\n

Credit:<\/strong><\/span> Did you see this? Warren Buffett’s Berkshire Hathaway unloaded more than a quarter of its stake in Wells Fargo — and 61% of its position in JP Morgan Chase — while acquiring a new position<\/a> in the largest gold miner in the world, Barrick Gold. That’s right; he’s dumping banks for gold mines. Or, to put it another way: hell has officially frozen over.<\/p>\n

\n

It’s hilarious that #Buffett<\/a> who always said that Gold doesn’t produce anything now buys a big producer of stuff that doesn’t produce anything. #barrickgold<\/a> #GOLD<\/a><\/p>\n

Daniel vd Berg (@danielvdberg1) August 15, 2020<\/a><\/p><\/blockquote>\n