Munger recently spoke at the Daily Journal's yearly meeting and they covered A LOT. In this video, we will learn about Charlie Munger's thoughts on cryptocurrency.
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Timestamps:
00:00 – Introduction
00:38 – Did Charlie Miss Out On Crypto?
01:50 – Phil's Ideas
02:38 – Download: How to Choose the Best Stocks: 5-Step List
06:01 – Charlie On The Central Bank Digital Currency
06:45 – Phil's Words On Reserve bank Digital Currency
08:22 – Concern: What Do You Think of What Munger Has Said About Crypto?
#charliemungersthoughtsoncrypto
#cryptocurrency
#charliemunger
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My Response to Charlie Munger's Ideas on Crypto
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Question: Why the heck did Nixon take USD off the Gold standard?
Thanks Phil and have a great weekend 🙏🦅🇺🇸
The US government was spending too much. It became clear there was insufficient gold to meet redemptions and so the gold window was shut. Less than clear was what they meant by saying it was “temporary”.
@Roky Erickson rocks Thank you. Crazy how Russia and China has there currencies backed by Gold but we dont. 😳🤯😢
Wow hahaha. Never seen him so speechless.
What do you think about what Munger said about crypto? Do you agree or disagree with what he said? Leave a comment below!
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Gotta disagree with the criminal picture he paints. The dollar is used way more for trafficking anything and isn’t track able or taxed. The system works very well for munger, why would he want to change it?
Yeah it’s obvious he is reaching for a genuine criticism but he just loves status quo… there’s no logical argument
Much love to Phil. I can’t stand Charlie’s old arrogant rear. The dollar has been used with all that non sense also!!! What a joke he is
I used to really like phil’s videos but the content lately is not that informative anymore, hopefully he starts making more videos about “Invest like the best”
You summed things up so well! I’m always amazed at the wisdom that comes from Phil.
Would a central bank digital currency be a risk of obsolescence for payment providers like Visa, Mastercard and American Express? Other than being a means of eliminating physical currency and any small business tax evasion or black market operations, I’m not sure why this is being marketed. Charlie is right, most all transactions today are already digital.
If it becomes a risk for Visa, MC or Amex, they can always put their hand on the technology and buy it out for themselves.
Solana for example is a very fast blockchain who can perform a lot more transaction per second than Visa’s network. Solana’s ”market cap” is 14billion right now, Visa’s Market cap alone is 450b.
Yeah, that was a really dumb question as you eloquently explained. A more pointed question would have been, ‘what about the ability of central banks to create programmable CBDCs that will allow them to control how and when the currency is to be used?’ We are heading toward a dystopian future headed by the WEF and controlling the population is their aim. Yes this is a conspiracy theory that won’t be a theory for very long if the people don’t wake up soon. Then another better question about the monetary policies/system in general is, ‘when will it end?’ As Ray Dalio continues to point out; rampant money printing is what happens at the end of every monetary cycle. So, is runaway inflation or deflation coming soon?
Vinarial disease damn lol