The post Top economics professor slams Warren Buffett’s gold stance appeared on BitcoinEthereumNews.com. Steve Hanke, an economist and professor of applied economics at Johns Hopkins University, has pushed back against Warren Buffett’s long-standing criticism of gold, arguing that the metal plays a far more important role in wealth protection than the billionaire investor acknowledges. Hanke’s comments come in response to Buffett’s well-known view of gold as a non-productive asset. Over the years, the Berkshire Hathaway (NYSE: BRK.B) founder has repeatedly dismissed gold for its lack of income generation, contrasting it with businesses and other productive assets that produce cash flow. He has also characterized the yellow metal as a trade driven by fear, noting that its value tends to rise when investors are anxious about economic instability. These perspectives anchor his philosophy that long-term wealth is best built through assets that compound and generate earnings, not through commodities whose value depends primarily on market sentiment. Gold’s primary purpose  However, in an X post on November 21, Hanke challenged this stance by emphasizing that gold’s primary purpose is not to behave like a productive asset but to act as insurance. He noted that owning gold offers protection against extreme economic and financial risks, functioning as a safeguard rather than an investment expected to generate returns through production. Buffett calls gold an “unproductive” asset that doesn’t generate income and calls it a “way of going long on fear.” If you own gold, you’re buying insurance. Buffett should know; he’s made a fortune investing in the insurance company GEICO. BUY GOLD, WEAR DIAMONDS. pic.twitter.com/2wFFuiLWaP — Steve Hanke (@steve_hanke) November 21, 2025 The scholar further pointed to Buffett’s own success in the insurance business through GEICO, suggesting that the investor should appreciate the value of hedging against uncertainty. Hanke concluded his critique with a message encouraging resilience in wealth preservation, reinforcing his view that gold remains an… The post Top economics professor slams Warren Buffett’s gold stance appeared on BitcoinEthereumNews.com. Steve Hanke, an economist and professor of applied economics at Johns Hopkins University, has pushed back against Warren Buffett’s long-standing criticism of gold, arguing that the metal plays a far more important role in wealth protection than the billionaire investor acknowledges. Hanke’s comments come in response to Buffett’s well-known view of gold as a non-productive asset. Over the years, the Berkshire Hathaway (NYSE: BRK.B) founder has repeatedly dismissed gold for its lack of income generation, contrasting it with businesses and other productive assets that produce cash flow. He has also characterized the yellow metal as a trade driven by fear, noting that its value tends to rise when investors are anxious about economic instability. These perspectives anchor his philosophy that long-term wealth is best built through assets that compound and generate earnings, not through commodities whose value depends primarily on market sentiment. Gold’s primary purpose  However, in an X post on November 21, Hanke challenged this stance by emphasizing that gold’s primary purpose is not to behave like a productive asset but to act as insurance. He noted that owning gold offers protection against extreme economic and financial risks, functioning as a safeguard rather than an investment expected to generate returns through production. Buffett calls gold an “unproductive” asset that doesn’t generate income and calls it a “way of going long on fear.” If you own gold, you’re buying insurance. Buffett should know; he’s made a fortune investing in the insurance company GEICO. BUY GOLD, WEAR DIAMONDS. pic.twitter.com/2wFFuiLWaP — Steve Hanke (@steve_hanke) November 21, 2025 The scholar further pointed to Buffett’s own success in the insurance business through GEICO, suggesting that the investor should appreciate the value of hedging against uncertainty. Hanke concluded his critique with a message encouraging resilience in wealth preservation, reinforcing his view that gold remains an…