Take it Back, Mr. Munger
An Open Letter to Charlie Munger
Dear Mr. Munger,
Please feel free to retract at your earliest opportunity your recent comments disparaging gold investors. Aside from lacking merit, or basis in logic, I feel they were in extremely poor taste.
"Let's work our way backwards through your statement, starting with your vilification of the character of individuals based upon their investment decisions. I happen to be a nice guy if you'd take a moment to know me, but your statement suggests you would have no interest in looking beyond the shares of gold and silver bullion proxy Central Fund of Canada (AMEX: CEF) that I hold steadfastly in my investment portfolio."
"I am particularly mystified by your attempt to relate the decision by investors to save capital in gold, rather than in rapidly depreciating U.S. dollars, to your moral imperative to understand what does or does not work in human systems. Could not this entire post-Bretton Woods experiment with unbacked fiat currency prove the ultimate example of what does not work in human systems?"
"If you have no interest whatsoever in gold, I am not here to attempt to change your opinion. What I do seek is your recognition that the people bear the ultimate burden of the persistent currency devaluation and reckless fiscal policies that carry sustainable recovery further from our grasp. They include many millions of struggling individuals with nary a minute fraction of your financial resources, and those which see gold as a means of protection from further losses deserve far better than to become the subject of your misplaced ire."
We, the gold-holding citizens of the world who refuse to be victimized by competitive global currency debasement, kindly await your apology.