3 years ago

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In this video, I discuss the latest comments about Bitcoin from Warren Buffett and Charlie Munger at the 2022 Berkshire Hathaway meeting.

Buffett is definitely not someone that you want to take tech advice from, since he bashed tech for more than 2 decades before getting an iPhone. His company Berkshire Hathaway has also underperformed the stock market since 2008, so you might not want to take financial advice from him either.

The bulk of Buffett's wealth was generated by selling sugar water, funding rent-seeking banks, and selling puts on natural disasters (reinsurance). Like many cantillionaires, Buffett and Munger have also benefited massively from Fed money printing and bailouts.

For these reasons, it is not surprising that they dislike Bitcoin, which cannot be controlled by any government or corporation. It is just too bad that they are unable or unwilling to provide steel-man arguments against Bitcoin, instead of straw-man arguments.

Bitcoin is definitely rat poison to banks and people like Buffett and Munger. It is a monetary good that will usher in a new and more fair financial system.

Not investment advice! Consult a financial advisor.

Buffett's latest Bitcoin comments:
https://www.cnbc.com/2022/04/30/warren-buffett-gives-his-most-expansive-explanation-for-why-he-doesnt-believe-in-bitcoin.html

Buffett did not get an iPhone until 2020:
https://www.cnbc.com/2020/02/24/apple-investor-warren-buffett-traded-in-his-flip-phone-for-an-iphone.html

Have a Coke and some diabetes:
https://www.nytimes.com/2018/07/14/world/americas/mexico-coca-cola-diabetes.html
https://www.wcrf.org/sugary-drink-companies-target-low-middle-income-countries/

Munger on how to get rich selling sugar water:
https://fs.blog/turning-2-million-into-2-trillion/

Clayton Homes exploiting the working class and minorities:
https://www.seattletimes.com/seattle-news/times-watchdog/minorities-exploited-by-warren-buffetts-mobile-home-empire-clayton-homes/
https://publicintegrity.org/inequality-poverty-opportunity/warren-buffetts-mobile-home-empire-preys-on-the-poor/

Wells Fargo scandals:
https://www.forbes.com/sites/jackkelly/2020/02/24/wells-fargo-forced-to-pay-3-billion-for-the-banks-fake-account-scandal/?sh=21f3ebcd42d2

Buffett benefits from bailouts:
https://www.cnbc.com/id/40276100

Bitcoin is rat poison to banks:
https://pbs.twimg.com/media/EmoRwM2U4AANCad.jpg

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I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos.

My opinion is not for sale. Please do not contact me with any affiliate or advertising deals.

#Bitcoin
#Buffett
#BerkshireHathaway

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