fml reporting, page-26

Choucy8,

You have stated this: "He, like everyone else in Goldman Sachs etc wants the money printing to continue so he can carry on profiting."

Now let's hear Buffett on the trade deficit and on the dollar and gold:

Buffet on the trade deficit

Buffett views the United States' expanding trade deficit as a trend that will devalue the US dollar and US assets. He believes that the US dollar will lose value in the long run, as a result of putting a larger portion of ownership of US assets in the hands of foreigners. In his letter to shareholders in March 2005, Warren Buffett predicted that in another ten years' time the net ownership of the U.S. by outsiders would amount to $11 trillion.

Americans ... would chafe at the idea of perpetually paying tribute to their creditors and owners abroad. A country that is now aspiring to an 'ownership society' will not find happiness in – and I'll use hyperbole here for emphasis – a 'sharecropping society’.

Buffett on the dollar and gold

Buffett continues to be bearish on the dollar, and says he is looking to acquire companies which derive a substantial portion of their revenues from outside the United States. Buffett emphasized the non-productive aspect of a gold standard for the USD in 1998 at Harvard:

It gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head.

In 1977 Buffett was also quoted as saying about stocks, gold, farmland, and inflation:

Stocks are probably still the best of all the poor alternatives in an era of inflation – at least they are if you buy in at appropriate prices

Now let's hear Roubini on the deficit and money printing:

"countries with large budget deficits might be tempted to finance their budget deficit by printing money rather than by issuing bonds. In turn, this monetary financing of the deficits causes a vicious circle of high inflation and currency depreciation."

Now please tell us why is Buffett wanting the money printing to continue so he can carry on profiting, when he tells us emphatically that he is against the USA having a devalued dollar which Roubine tells us would inevitably follow from money printing?

Sorry, but you have not only gone a bit of topic but also to far out of the mark when interpreting Buffett's words.

http://en.wikipedia.org/wiki/Warren_Buffett

http://people.stern.nyu.edu/nroubini/NOTES/CHAP8.HTM