Charlie Munger of Berkshire Hathaway called bitcoin "noxious poison" the other day. Well, to a guy whose business depends on an endless supply of easy money from central banks that transfers wealth from savers to leveraged hedge funds like Berkshire Hathaway, I am certain bitcoin is noxious poison. Good thing, too.
Munger then went on to say that regulators should let up on Wells Fargo, a firm that deliberately set out to open fake accounts and enroll customers in programs that they didn't want and weren't told that they would be charged for. That is, they flat out stole from their customers.
Munger couldn't be more socially tone deaf if he had slapped a couple of female underlings on their backsides and told them they should like it. I think someone needs to keep the 93 year old Munger from embarrassing himself any further.
Finally, noted VC Bill Gurley said that everyone is nauseous from talking so often about crypto and that he wished it would stop. Sorry Bill, the market potential is too big and bitcoin's implications for our freedom and liberty are too important. Did Thomas Jefferson talk too much about man's natural rights in the Declaration of Independence? Should Galileo have stopped talking about the sun being at the center of the universe?
Important ideas will not suffer from too much discussion. Take some Pepto and tough it out.
Disclaimer: This does not represent investment advice.
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