Paulson Buys Gold, Soros Buys Gold, Buffett? NOT YET?

Mr. Buffett is getting a lot of press lately as his annual shareholding meetings come to a close.I have read about many of his comments and will continue to comment accordingly, but one that stuck out in my mind was one that was never made.I was looking for a comment on gold.I know Mr. Buffett has been a silver investor in years past but when it comes to gold, well . . . frankly . . . Mr. Buffett isn't yet a fan but that may all be changing.

His past expressed sentiment is, gold is something you dig out of the ground, then melt down only to bury back in the ground somewhere and hire guards to watch over it."It has no utility."

Now, frankly, if I owned billions of dollars worth of stocks and bonds and the value of my portfolio depended on their increasing popularity, I may have an attitude about something I don't own.Now, admittedly, I have an attitude about gold but I never tell people not to invest in stocks, real estate, bonds.I do tell people to diversify for protection.Remember?Location Location Location is to the success of a small business as Diversification Diversification Diversification is to the success of your portfolio.

I may also take issue with Mr. Buffett, (however, I would likely fall dumbstruck in his presence) over his comment that gold has no utility.I may strike up the courage to ask him how he thinks dollar denominated assets have more utility than gold when all we have to do to solve a debt crisis is print more dollars?And, if it's OK to do it to any degree, why not do it a lot?

When we were on the gold standard there was no chance of printing more gold if we got in trouble with debt.Hmmm.But, come to think of it, we may never have had trouble with debt in the first place if we continued to pay our debts in gold.

So what does Mr. Buffett say about today's wholesale printing of money.Here's a comment made to his 40,000 shareholders in attendance at the Berkshire Hathaway annual shareholder meeting.

"The prospects for significant inflation have increased, not only here but around the world," Buffett told roughly 40,000 shareholders at the meeting. "Weaning ourselves from the medicine" may be more difficult than enacting the stimuli in the first place, he said.

This almost sounds like a guy, who would make a case for investing in gold.Mr. Buffett, if you ever jump in and buy gold as an inflation hedge, like your friends John Paulson who added $3.4 billion of gold to his portfolio in 4Q 2009 and George Soros who added $330 million to double his gold holdings in 4Q 2009, I will know it.

Meanwhile, good luck with all that global inflation and your currency denominated assets.If you ever change your mind and begin to believe in gold as a hedge against inflation, call the Lear Gold Hotline.If you need a quote before you call, see the real time gold prices shown here.Whether you buy a $1 billion worth or a gold coin, this price is good.It's barely over dealer cost.We do have a special going though.For every billion you spend with Lear Capital on gold, we will throw in a 1oz. American Eagle Silver Coin.