Warren Buffett Has Written Off Freedoms Father Defended
By most accounts, Warren Buffett is a financial wizard, the successful CEO and primary shareholder of one of the world’s largest companies, Berkshire Hathaway, and one of the world’s richest men. Buffett is also known as an evangelist for equities investment who scorns gold as “neither of much use nor procreative.” What may surprise many readers is that Warren’s late father, Howard, a successful businessman and U.S. Congressman, held very different views. In fact, Howard Buffett was a staunch advocate of the gold standard as a bulwark of a democratic society. In the case of the Buffetts, it seems, the acorn indeed did fall far from the tree.
Certainly Buffett’s success at building Berkshire Hathaway from a flagging textile manufacturer to a diversified multi-national conglomerate has been and continues to be remarkable; he is one of the most iconic financial figures in the world. Most people know little or nothing about Warren’s father, Howard Homan Buffett, who also was involved in the financial sector and worked as a stockbroker before starting a political career. Buffett senior served as a Republican U.S. Representative in 1942, 1944, 1946 and again in 1950. Following his Congressional career, Buffett returned to Omaha, where he worked in banking for the remainder of his career.
Father and son held divergent philosophies regarding monetary policy, the role of government, and the role of gold in the economy.Continue Reading →
Perhaps having benefited so magnificently from the economic pyramid scheme supported by our modern fiat currency and fractional reserve banking systems, Warren Buffett is a true believer in its superiority, having, along with other financial elites, a vested interest in its continuation for as long as possible.