Buffett Slams Gold's $10 Trillion Cube, Champions Productive Assets Over Speculation

He argues that gold is a poor investment because it produces nothing, pays no interest or dividends, and does not grow earnings. Buffett contrasts this with investing $10 trillion in U.S. cropland and 16 Exxon-Mobils, which would generate trillions in dividends over a century and retain their value.

He concludes that gold's value relies solely on convincing others to buy it at a higher price, whereas productive assets offer intrinsic returns.