Warren Buffett: Promoter Of "The System"

By Chris Rossini

​Warren Buffett may be a legendary investor, but he also swims in the ocean of cronyism. As opposed to his late father Howard, Warren has long been a big fan of our centrally planned and government-dominated "system". At a 2002 shareholder's meeting, Buffett said:

"This has been a tremendous economic system. It’s a system that showers rewards on my particular skill set."

Yes, as this year's presidential campaign season has clearly brought to light, those closest to the Fed's monetary spigot have definitely benefited from the current "system".

Buffett, of course, is very close to that spigot. He was a champion and great beneficiary of the 2008 bank bailouts and always has the kindest things to say about central bankers.

In order to keep the perception of this "system" in a positive light, Buffett is not afraid to take out his pom poms to provide the media and American public with a good cheer.

For example, when asked what he thought the status of the dollar would be in 50 years, Buffett responded:

"I think the $ will be the world's reserve currency."

​The fact that dollar is literally running on fumes doesn't seem to matter one bit. To think that in 50 years it will remain the world's reserve currency takes a special kind of optimism. The consistent actions of major foreign nations in getting away from the dollar tells us a very different story.

But hey, Buffett is all about the dollar. He has billions of them. No need to bring up any uncomfortable realities.

Let's take another example: the great government Ponzi scheme known as "Social Security". Surely Buffett will come clean on this ticking time bomb, right?

​Wrong.

Simon Black writes:

In his annual report to shareholders released just a few days ago, Buffett makes an almost biblical proclamation that “America’s social security promises will be honored and perhaps made more generous.” ...

Fact is, Social Security’s own annual report states that its shortfall is at least $42 trillion.

This liability is staggering.

To put the number in context, even if Buffet gave the entirety of his $66 billion fortune to Social Security, he would only be able to plug the gap for a whopping 43 days.

This system is beyond repair. And to presume that all of Social Security’s promises can be honored is simply insane.

​This is where we are in America. Those who benefit from a "system" that is the antithesis of liberty, free markets, sound money, and property rights are reduced to spinning fairy tales in order to keep it going. It's a con game with a paper thin veil of confidence that keeps it all together.

Steadily the average American is waking up, and is searching for answers. Many are finding the right answers in the ideas of liberty, but unfortunately, many more are latching onto iron-fist demagogues and socialist snake-oil salesmen.

Let's ditch the fairy tales and get to work on re-establishing the liberty that our early ancestors were able to enjoy. Let's breathe free air for once, instead of the never-ending smoke being blown in our faces.

​Enough with the ideas that have snuffed away our liberty.