Does Buffett believe, as some have speculated, that the financial markets are about to collapse and that gold and silver would not be much help in feeding people?
The collapse of the Soviet Union in 1991 led to much drum-beating in western capitals about the victory of capitalism over communism. Western commentators, intoxicated by their belief in the 'effortless superiority' of the west, made dire predictions about the imminent collapse of the People's Republic of China as well. Where caution should have prevailed, the imagination was allowed to run wild.
The incessant recurrence of international conflict, political rivalry and economic competition in relations among States has led many observers and analysts to conceive of the international system as being intrinsically chaotic and anarchic. According to Tony Porter, however, such a view of the international system is misleading as interstate interactions exhibit 'a surprising degree of regularity and order' (p.1).