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by zecho
5243 days ago
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The labor part is his whole point. Gold has little to no utility ("...some industrial and decorative utility"), but land can be used to build more wealth ("A century from now the 400 million acres of farmland will have produced staggering amounts of corn, wheat, cotton, and other crops"). He absolutely prefers actual production over mere investment in trends. "More succinctly, investing is forgoing consumption now in order to have the ability to consume more at a later date." This whole philosophy is at the heart of nearly all of his letters to investors and other writings. |
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