Get To Know The Ultimate Gold Bug -- Warren Buffett's Father

howard homan buffett

Warren Buffett is seen as the market’s moral compass, an old time investor who remains cautious of financial innovation. But compared to his father, Warren is a high frequency trader.

Howard Homan Buffett was an Omaha stockbroker and a four-term Republican representative.

In the forties and fifties, he was an outspoken libertarian and advocate of the gold standard. Whenever hard currency fervor heats up, like right now, Howard Buffett gets named as a hero on goldbug sites like Zerohedge and King World News.

Howard on the gold standard...

'I warn you that politicians of both parties will oppose the restoration of gold, although they may outwardly seemingly favour it, unless you are willing to surrender your children and your country to galloping inflation, war and slavery then this cause demands your support. for if human liberty is to survive in America, we must win the battle to restore honest money. There is no more important challenge facing us than this issue -- the restoration of your freedom to secure gold in exchange for the fruits of your labors.'

Source: Congressional records

Warren on gold...

'It gets dug out in Africa or some place. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head.'

Source: Fortune

Howard on fiat currency...

'But first let me clear away a bit of underbrush. I will not take time to review the history of paper money experiments. So far as I can discover, paper money systems have always wound up with collapse and economic chaos.'

Source: Congressional records

Howard on human freedom...

Howard on taxes...

'Far away from Congress is the real forgotten man, the taxpayer who foots the bill. He is in a different spot from the tax-eater or the business that makes millions from spending schemes. He cannot spend his time trying to oppose Federal expenditures. He has to earn his own living and carry the burden of taxes as well... The taxpayer was completely outmatched in such an unequal contest.'

Source: Congressional records

Howard on government spending...

'If we elected a Congress with intestinal fortitude, it would stop the spending all right!' I went to Washington with exactly that hope and belief. But I have had to discard it as unrealistic. Why? Because an economy Congressman under our printing press money system is in the position of a fireman running into a burning building with a hose that is not connected with the water plug. His courage may be commendable, but he is not hooked up right at the other end of the line. So it is now with a Congressman working for economy. There is no sustained hookup with the taxpayers to give him strength.'

Source: Congressional records

Howard on the New Deal...

'I am fully aware of the odds against a Republican candidate today. He fights against the most powerful Tammany political machine the world has ever known. This ruthless gang, under the cover of war, is making plans to fasten the chains of political servitude around America's neck.'

Source: Buffett -- The Making Of An American Capitalist

Howard on the foreign policy...

Howard on farmland...

From Buffett: The Making Of An American Capitalist:

Convinced that Roosevelt was destroying the dollar, Howard gave gold coins to his children and bought pretty things for the house -- a crystal chandelier, sterling silver flatware, and oriental throw rugs -- all with a view that tangibles were better than dollars. He even stocked up on canned food and purchased a farm, intended to be the family's refuge from the hellfire of inflation.

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