Charlie Munger calls Elon Musk 'brilliant' and bitcoin 'stupid and immoral'

ANDY SERWER: I'm here with Charlie Munger, Vice Chairman of Berkshire Hathaway. Charlie, great to see you.
CHARLIE MUNGER: Nice to be here.
ANDY SERWER: I want to continue with some of the questions that people were asking you at the annual meeting and start maybe with China, and trade and tariffs. And you said that even Trump can be right on some of this stuff.
CHARLIE MUNGER: Yes, when people get mad enough at one politician, they get to thinking everything he says and does is wrong, and that's never the case.
ANDY SERWER: What, what, go ahead and continue. I'm sorry.
CHARLIE MUNGER: And all I said was that you don't want to be such an absolute purist for free trade. I'm almost a purist, but not quite, but I wouldn't want the entire steel industry in the United States to move offshore. There's some place where you could draw a line without ruining the world.
ANDY SERWER: What should our trade policy be then? I mean, yes China can be unfair, is unfair, but how should we pursue this?
CHARLIE MUNGER: Well, attitudes entirely different from our president's. I'm glad that we ran a big trade deficit with China. That enabled them to rapidly get out of poverty and obscurity. I welcome the Chinese to the group of advanced nations, which I think we enabled considerably by our willingness to trade with them as they moved ever upward in terms of complexity of enterprise.
So I like what's happened. I don't regard it as unfair and bad. I'm not saying that it would be unthinkable to have some tariffs somewhere, but basically I'm a free trader and I am particularly a free trader in dealing with China. And I like the fact that free trade with China has enabled China to expand so much, and they got out of poverty.
They had hundreds of millions of people in rural poverty and they made huge, in the whole history of the world, no big nation has ever advanced faster than China. And this free trade helped them do it. And I like it.
ANDY SERWER: But aren't they unfair to us? Just to follow up on, you know, intellectual property.
CHARLIE MUNGER: I'm sure there are places where somebody in China has some advantage over somebody in the United States that you and I might not like perfectly, but that will always happen. But basically, the Chinese broke the Berkshire Hathaway shoe business in Maine. It disappeared basically because their shoes were very good and cheaper.
I'm not mad at China over that and Berkshire has prospered. It's not so good for Maine, but we can't help it. There's no way to make an advanced civilization never hurt anybody as it evolves.
ANDY SERWER: There's a lot of talk about an elephant that Berkshire is on the hunt for a big acquisition. Could that elephant be in China.? And if it was, could you even buy it given the relationship between the two countries right now?
CHARLIE MUNGER: I don't think it's likely that we'll be buying any great Chinese companies. The Chinese are very proud of their companies and they're proud of what they've accomplished. What I consider quite likely is that we will be invited to buy part of some great Chinese company. And just because they like the good company. And I think that is very likely to happen some time, and we would welcome it. We own minority positions in a lot of companies. We own a minority position in BYD.
ANDY SERWER: Let me ask you, then, about BYD and Chinese cars. When will Chinese cars be allowed in the United States and what's holding it up, is it bureaucracy?
CHARLIE MUNGER: Well the auto market is very competitive and very fully occupied. And of course, nobody in the United States wants to lose our last two big domestic suppliers, manufacturers of autos. Well three if you want to count Ferrari Chrysler. And so it's hard for somebody new to come in the American market big. And China has such a big market of its own. My guess is they'll stay busy in their own part of the world for a long time.
ANDY SERWER: So that's not a priority for BYD?
CHARLIE MUNGER: Well BYD's biggest advantage is in the electric cars. Where they're so close to the cutting edge of battery technology. And so they'd be crazy not to emphasize the hybrid electric cars over the gasoline cars. Not that they'll go out of the gasoline market, but I think they will be biggest in the hybrid and electric cars.
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[@greggorymiller74]

“I can’t criticize anyone else for wiseassery”

[@RasheedKhan-he6xx]

Good advice for a lot of people.

[@jonathanvandriessche]

That was hilarious :-D

[@vanekirk]

@@RasheedKhan-he6xx including me!

[@JD-im4wu]

charlie is so sharp! Lmao

[@lycan2494]

@Nag Dasty how?

[@mbernardo123]

Charlie needs to say "over." at the end of his response so the interviewer knows when he's finished. XD

[@louis1409]

I like how Andy immediately zips his mouth though, he's here to get Charlie to talk and jumps out of the way when he gets him going.

[@ginrummy3996]

3 seconds seems valid in mostly every context and if you can't catch it, I guess something is missing.

[@abosij]

He’s 95 years old here - and at 95 he’s still smarter than 99.99999 percent of human beings. Give the guy a break!

[@GamingHelp]

It's also entirely possible he's not sure himself when he's done. It does lead to an interesting flow though. :)

[@yasheshbhansali2643]

😂😂

[@cscleghorn]

I enjoy this Mr Munger’s no bullshit approach to everything. Cut the waste and drive forward!

[@KingK339]

Especially Bitcoin BS! Listen to the genius!

[@Showmetheevidence-]

It’s so refreshing!

[@hermitthefrog468]

@@KingK339 lol bitcoin is the single best invention or the concept in the past 100 years. The government controls money and plunges the world into poverty through inflation bitcoin is deflationary. Keynsians think deflation is bad. What a fallacy. People actually get richer overtime instead of poorer what a concept

[@irclaw42]

Sorry guys, bitcoin isn't going anywhere. You sound like the old senile parents that thought the internet would never succeed. I remember Charlie and Buffett wouldn't invest in internet companies because they thought it was a fad. They missed out on Google, Amazon, Facebook and they were late to the game on Apple. Charlie and Buffett were good for their time but they are now overrated and behind the times. In 18th century there was a revoltion that separated church and state. As a result the powerhouse known as America was born. We are now entering a time period which will separate money and state. Get on the train or get out of the way. Adapt or die.

[@K4n01]

@@irclaw42 Bitcoin has died and revived so many times now, and what is dead may never die.

[@Choo-choo-chookcha]

We need him to do a Joe Rogan podcast. 2-3 hours of Charlie talking about stuff would make the world smarter.

[@firelordsozin3677]

Андрей Борисович Joe would not be able to keep up

[@Dk-ie4te]

@davidl0917 musk is all about PR.

[@mickeydrago9401]

Except when it comes to the blockchain

[@jekabsblumbergs7225]

Yess please!

[@JeremyTheEntrepreneur]

Charline munger: “the average human condition is ignorance and stupidity” 🤣💯🔥

[@mangravy2000]

Amazing clarity at 95 years old. Him and Buffett sitting around sharpening their minds against each other.

[@petefaders]

Because he drinks baby blood full of adrenaline.

[@hisheeelijah1482]

@@petefaders give me proof and dont speculate

[@tquasa07]

Why not just skydive or take meth? Or play Russian roulette? Watch horror movies? Why baby blood…does adrenaline even make it through your stomach acid?

[@rukascool]

Amazing interviewer. Doesn't interrupt and asks interesting questions by taking very little time.

[@LonelyWalker11]

What a high quality interview. I wish we had more of journalists at this level. Very enjoyable. Thanks.

[@Sucka4Sofas]

Very much so🙌🏽

[@RicardoWill]

Munger is dropping BOMBS on this interviewer. That last note about politicians is heavy!!!!

[@HassanAli-py9ce]

5:30 is where he talks about elon musk

[@Voyager_AU]

The hero we needed

[@hazwell6811]

thx

[@EE-vq4jt]

Hassan Ali thank u

[@jameshumphrey9939]

ELON MUSK BRILLIANT!

[@arod3295]

Thank you

[@jochem1986]

This man has the brain of a 30 year old in the body of a 90 year old.. it’s remarkable.

[@Starrsy4]

Sure is remarkable. You would think he would have gained a little wisdom in those many years.

[@jochem1986]

@@Starrsy4 In terms of sharpness, not in terms of knowledge.

[@xyjames]

It's funny, you'd think he's an old fart with his dry, customary one-liners at Buffet's side. When he's cajoled to speak at length, it's like listening to 30 year old lawyer addressing the senate.

[@SolarPlayer]

At his age he says "people like bitcoin because it's a great feat of computer science"... that's incredible to me

[@GrimeUK777]

That makes zero sense - A brain of a 30 year old would has less experience. insights and knowledge. No wonder they all mock and control the lemmings of the world.

[@janetpattison8474]

The bill for 1 hr in the ER (waiting) after a car accident was $52,000.00. Insurance pd for 25k, & the balance falls on me. $37,000.00 for a pet scan, $8,000.00 for Dr., $8,000.00 for pharmacy and more! And nobody needs to inform you of costs. What a ridiculously corrupt racket! Also, I met a 20-something guy who just found out he had cancer, and he needed to borrow $25,000 BEFORE he could begin treatment. He didn’t have health insurance. This is another illustration of how healthcare in the US absolutely sucks! I worked in a large hospice for years & we knew that chemo treatment for a year is a Minimum of $100,000….YES, We need MAJOR changes in the US.

[@bluefm7370]

His mind never became lazy, therefore his knowledge is considerable and his thoughts are straight up....Gid Bless🙏🏻❤️🙏🏻

[@rickvangils100]

I find it funny how after every few sentences, it sounds like Charlie is done talking and then right when the interviewer asks him a follow up question he immediately interrupts and continues talking XD

[@borisj4054]

Just shows he is thinking first before speaking. What so many fail to do, and fail.

[@Mohammed_Sabir.]

"We're way ahead of the romans at the end" 😂😂 He has placed his expectations so low, he's content at the current situation.

[@vinayseth1114]

Nope; there are good reasons for a logically thinking person to consider the current cultural scenario to be a doomed one: the rise of right-wing authoritarian regimes the world over and the resource crisis that haunts us all. So to read about the actual scenario at the end of Roman times could definitely help one get a better perspective as to whether we really are a doomed civilization or not.

[@lukeulibarri3924]

Rise of right wing authoritarian regimes the world over? Which ones exactly?

[@slavenrasic2173]

@Luke Ulibarri The ones he (or should i say it?) disagrees with

[@dialac1]

Best parts of this interview are the delicate moments of silence in between utterances of wisdom. Glad the interviewer shut up and allowed Charlie talk.

[@raceanadreamcargrameater6227]

Silence in between utterances denotes reflecting, silence during utterances denotes listening

[@D.A.-Espada]

Also Charlie would stop taking as if he was done and then interrupt when the interviewer began to speak again as anyone else would after an approprite moment silence occurs to do so. It was hilarious throughout this talk Almost seemed like a power play

[@LAWSON08]

Elon Musk 'brilliant' and bitcoin 'stupid' Ironic that Elon Musk (via Tesla) recently purchased $1.5B of BTC.

[@millerforester6237]

right.

[@tomcat8662]

I was thinking the same thing. I don’t know what to think about Bitcoin anymore. You have very respected and highly intelligent people taking extreme positions either for or against it.

[@George-cw2lk]

@@tomcat8662 watch for $100000 price by next spring 2022

[@postblitz]

By Elon's own admission, he did those things (BTC and DOGE) because of his belief in irony winning out over intelligence. It has nothing to do with smart/dumb, he is trolling.

[@roberrplatt4214]

My dad fought China in the early 50s. Carried shrapnel because of it. He felt that trade was a far wiser way to engage them.

[@zanedickson2725]

His 95 year old brain is incredible.

[@MS-hn3wo]

Boomer is outdated. He needs AI upgrade.

[@eddymaldonado2809]

@@MS-hn3wo lmfao

[@JerryStevens]

It's so much more interesting to hear a talk like this on subjects like nationalized health care from someone who speaks without rancor or sarcasm. Politicians are terrible at this because it's not in their best interests.

[@billjenkins1535]

Concerning his comments about nationalized health care. They control your health care they control your life. What an idiotic statement to make From someone who talks about history and quotes Plato from history. I think what he means to say is that he can make a lot of money from nationalized health care.

[@dagemabera1353]

It's amazing how this man is in his 90's and is still sharp as a tool

[@morpheus6749]

The human brain comes with a use-it-or-lose-it proposition. Just like every other organ in the human body. Most people will stop using their brain altogether by age 80. And some will continue to use the hell out of it past 100.

[@ExMuslimRev11]

Almost 100.

[@lucasstone243]

It is disingenuous to not indicate that this was an interview from last year and only just uploaded. Shame on you, Yahoo Finance for passing this off as a recent interview when in fact it's outdated information.

[@ricardosaadgr]

Lucas Stone well done

[@nancyfahey7518]

I was searching for the date and thought he looked a little younger. Shoulda put the date.

[@moflyboyblanquito541]

I saw something like this just earlier thought that too.

[@rastamon9707]

And what difference would that make

[@mrseph007]

I tend to think that this is very relevant for now, particularly the last part on not getting too angry about leaders or politics! "I suggest you read the 100 years fall of the roman empire, it will make you feel a lot better about the current situation!" Class.

[@cmdrlucas6949]

This guy proves that healthy living and learning everyday is the way to a long happy life. He's still a genius at 95 ffs

[@SurferTy]

Cmdr Lucas healthy living?!

[@tkeleth2931]

@@SurferTy If somebody is functional and very obviously mentally acute at 95, yeah, they did something right lol

[@joshuamoore2721]

He's only 95 because he's a wealthy reanimated corpse. No healthy person breathes like that.

[@jcherestal]

@@joshuamoore2721 wtf you want him dunking basketballs?

[@joshuamoore2721]

@@jcherestal Shooting 3's at least!

[@esh8400]

“Wiseassery” 😂😂🤣🤣 Oh Charlie! Zinging as always!

[@zaidsiddiqui9091]

What does the word mean?

[@mickcv4554]

I just can’t imagine giving a crap at all about my money to this degree when I’m this old. Truly loves the game

[@markcole8887]

It's his legacy man!!!

[@swphilosophy3040]

I also enjoyed this interview from Charlie. Much better than so much of his material which involves giving flippant and obscurantist answers to sensible questions. This, by contrast, is really excellent and a rewarding watch.

[@Ramstar94]

This title is so click-baity. The content Charlie is sharing is way beyond the snippets of Elon and Bitcoin. His stance is objective and clearly cuts through partisan noise.

[@connorgodfrey]

Welcome to Earth 2020. The clickbait is the feature, and the substance is regarded as fluff. Celebrity gossip and shiny digital tokens are fun, don't bore us with frivolous things like facts or thoughtful insight

[@duanejackson6718]

I just came to watch Charlie, I don't really give a crap about Elon or Bitcoin.

[@Ramstar94]

@@connorgodfrey dude, totally missed your comment. it's so sad.. whatever happened to real conversations that last more than 15 seconds?

[@usayeed727]

This man is an intellectual powerhouse and I as a 28yr old NEVER tire of listening to what he has to say. I hope he lives at least another twenty years that I may benefit from his wisdom.

[@Jupiter1423]

What does being 28 have to do with it?

[@paladro]

just another crook in a suit

[@tiffaniewilcox2219]

Buy a good cross section of an economy and you should do well over the long term. The market wil be high in 10 to 20 years, and significantly higher in 30. It's almost impossible for a company with no debt to go bankrupt. the U.S. is about 50% of the global market place, Pay yourself first. It's time in the market, not timing the market. last year I invested 100 grand in the S&P 500/ an allocation fund (with the help of my Financial Advisor Rita Lynn Evans of course) and made 370k, but guess what? I put it back and traded with her again and now I’m rounding up close to a million.

[@borisj4054]

Sus, is this an add for Rita?

[@taylorhu7685]

Love Charlie so much, such a brilliant great person

[@shirleylake7738]

Brilliant interview 👏. Charles has a handle on the ways of the world.

[@lifestylelecanal9527]

Amazing interview. Straight to the point and a lot of uncommon sense that should be common from Charlie.

[@mickeydrago9401]

A total moron when it comes to the blockchain

[@mhmhmmhmhm5162]

@@mickeydrago9401 How is he a total moron? Everyone who looks at bitcoin from a financial perspective thinks it's madness... It's obvious that bitcoin is nothing more than a few lines of codes and nothing more. it's not backed by anything. It's just another fiat currency that is not inflateable (which is not good for the economy long term). Plus Bitcoin is not backed by trillions upon trillions of dollars in securities, real estate and a government... guess what the USD has all of those qualities... Bitcoin does not have any other qualities, its not backed by anything... it's just a few lines of codes... And bitcoin is never gonna become a global super currency... Bitcoin's float is bad, extreme unstable volatility, Extremely easy to commit financial crimes with, lots of fraud that is not controllable, The world governments would never allow bitcoin to take over their currencies. the biggest enemy of the state is financial crimes.... SO no bitcoin is heading towards a brick wall, while the investors are so deluded to the point they think bitcoin is made by god... The investors are gonna jump off in panic, because they dont realize they are heading towards a brick wall...

[@mickeydrago9401]

@@mhmhmmhmhm5162 The currencies can all exist and have a shorter and shorter lifespan on the internet acting as merely a go between exchange mechanism whereas Bitcoin can be a store value like gold but digital on the internet... Bitcoin is not actually a threat, It is a means of keeping other values improved upon as they move and shift to Bitcoin... Bitcoin is a way out for failed currencies, And again it's better to disintermediate Fiat into gold silver cryptos and other assets... Inflation jumped from 1.7% to 2.6% in one month, That's an over 50% increase in one month in the CPI... USD has lost something over 95% of its value and could actually do that again! 95% of the remaining 5%!

[@mickeydrago9401]

@@mhmhmmhmhm5162 There's no such thing as governments disallowing and outlawing Bitcoin, It's decentralized and global and would require controlling the entire internet to control Bitcoin and in fact would require destroying the internet so unless there's a collective response globally by the people to move back to the 1950s.... It's real simple, use a VPN

[@mickeydrago9401]

@@mhmhmmhmhm5162 As largely explained there is a reason why there is a bounty of over $600,000 to be paid by the IRS for anybody that can crack the code of Monero, No such bounty is held high for Bitcoin... BITCOIN is a lot more than a few lines of code, It's open source and you can look it up and read the Satoshi white paper...

[@nrjbody]

16:00 he talks about bitcoin

[@examinator9144]

Hero

[@GreekOrthodox7]

waterislife and he’s right

[@Stoneface_]

ΜΟΛΩΝ ΛΑΒΕ nope he’s wrong!

[@jesseh9286]

@Jeff GG "blockchain technology" is a scam to pump shitcoins. Bitcoin is amazing.

[@CosmicSeeker69]

@Jeff GG cough cough - sorry - but aren't you misinterpreting BTC and the Blockchain? I'm all for an non centralised Blockchain but I'm now way sure about BTC (especially now it's compromised by the futures market!). You say that you're up 750% - but, can you liquidate that tomorrow? If not - then it's an assumed value and not tangible wealth.

[@nicholasgilani1054]

A very astute and learned man. Respect him...

[@wilwilson8146]

"good" interview. Charlie looked uncomfortable AF (suffering fools is my guess) same exact questions for the last 70 years... I would be "thrilled" about my annual "interview" to...

[@Gr8Layks]

The interviewer has bad timing. Ya gotta give Charlie time to dispatch his wisdom nuggets.

[@Tangvu]

He's actually a very good interviewer. It's just difficult knowing when Munger has finished his points, because he does erratically start up again. With Warrent Buffet interviews, this is rarely ever an issue.

[@anthonygibson660]

Charlie is the one with the bad timing. He gives every indication he's done with a sentence, like he's baiting the interviewer.

[@vladdanielanghel1294]

There's no person in this whole world I admire more than Charlie Munger.

[@ricklocket2812]

there is no person in the world who wanted to know that

[@rodrigobraz2]

@@ricklocket2812 at least 5 people did.

[@hettvaya]

@@rodrigobraz2 no 8 people did:)

[@drdrjr13]

@@hettvaya heheh 9

[@DarkbaseTTV]

@@ricklocket2812 If this is your attitude online, have fun trying to succeed in the real world

[@xenaprince2717]

"That's a pretty low bar" lmaooooo

[@vxu9208]

he predicted Democrats' wins on presidency, congress, and senate in 2019....

[@vxu9208]

@ guess u r what you see

[@lolwtnick4362]

its not hard to predict...the pendulum swings. 8 years of a black dem, and then BAM! a white Republican businessman.

[@chrisz0619]

How can we be accepting of a country that won’t allow Americans to own businesses in, but are here in our country buying up all kinds of land, companies and other crucial acquisitions...why are these people so loving on them? The architecture school I went to was bought by a Chinese company 3 months before the lockdowns....they bought the school, raised tuition, reduced the size of campus, went fully online then got paid out millions by the government for PPP....

[@razorback7158]

The fact the he read " The rise and fall of the Roman empire" to feel better says a lot about where he thinks we are

[@jimmysmith736]

What does he mean by this?

[@dialac1]

“As the world gets tougher, you have to fish in places you didn’t fish before” “One rule about politicians: They are never so bad, you don’t live to want them back” - Charlie Munger

[@l.s.1235]

Except AOC. Shes too dumb and divisive. I can easily imagine this being true about Sanders, Trump, Obama, Clinton, Warren etc., but not AOC.

[@ExaltedWarrior]

You would think one of the richest men in America would have better fitting glasses.

[@pdxeddie1111]

Funny when you get to a certain level of money you realize how little you really need that's why Buffet lives in the same house he bought forty years (probably drives the same car too)

[@wmc9722]

@Billy CareforaHo: There are 1334 people richer in US in 2020. Check them too.

[@firelordsozin3677]

Billy Breakaho You stay rich by not spending your money on frivolous things like glasses ha ha… Also he’s got so much wealth that it’s great power and at that point everything else is an afterthought. He in Warren Buffett control the wealth open America, they are in like every large index fund😂

[@ExaltedWarrior]

@@firelordsozin3677 that's the dumbest thing I ever heard what's the point of being rich if you can't go out and buy $40 pair of glasses that actually fit?

[@fabiotrucco7969]

Resentment, not a good start

[@superandreanintendo]

He's in the top of the world when he doesn't give a f for his glasses. Gotta love him. Wise man like him know what is best for the world. He know the economy and happiness level would be better if poor could get affordable healthcare and similar. He know poverty is a cage, thus he's not socialist. He's wise. He's not giving free money

[@josephmelton4721]

Respect 👌

[@leekinboo]

thank you Charlie. Amazing to hear from this perspective

[@Miguel-pd3no]

Andy did a great job with this interview.

[@emreduygun]

Andy is a liberal buffoon and extremist

[@datra6251]

6:27 - LOL!!! I haven't laughed that hard this year yet.

[@socrates_the_great6209]

20:30 said in another way : Democracy limits how much damage a bad leader can do, and limits how much good a great leader can do. Dictatorship can be the best and the worst. Depends who is in the dictatorship seat. So dumb as humanity is it is wise to limit the damage 1 salesman can do after he is elected in. They can say whatever before the election and the 95% will eat it strait up and vote the guy/girl in and regret it after.

[@LoanwordEggcorn]

Democracy can turn into dictatorship. Hitler was sort of democratically elected. Rome went from a Republic to an Empire. Democracy without checks and balances and absolute guarantees of individual rights and responsibilities is mob rule.

[@lolwtnick4362]

well yeah power corrupts. just look at what happened to Nicaragua

[@dragonblazzer9698]

@@LoanwordEggcorn Don't forget the US. Hasn't been a democracy for decades now lol

[@LoanwordEggcorn]

@@dragonblazzer9698 The U.S. is a Constitutional Republic. Study what that means.

[@valvalerio2642]

Munger has not time for BS. His POV is refreshing.

[@dismantlegoogle6408]

He thinks it immoral because he can't position himself as a gatekeeper to enrich himself.

[@BurriedTruth]

he explained bitcoin infatuation brilliantly, I have been following bitcoin since it was 600 dollars, I loved its technical mechanism and its ingenious design , it definitely could be used to transform the our IT ways if used right, but its true it turned into this massive speculative bubble. the odd thing about this bubble is that its more consistent than other sort of bubbles. and even when it pops it sold hold a decent value and I think that has to do with the fact that is limited in quantity and very difficult to create more of which helps to keep it from tanking. if it wasn't for that fact bitcoin price would have gone to much lower extremes. Nakamoto pulled a truly genius move.

[@BurriedTruth]

@M A you might be on to something, the thing is the early birds really did get the worm, the early entrants in the mining field when bitcoin was still cents to the dollar and when it was easier to mine bitcoins those are the ones who really profited. the thing is stock markets can be irrational. you might be right but the fact that bitcoin is actually being accepted in a lot of e-commerce and some physical stores will guarantee the demand for bitcoin, and I think that's whats really keeping it from crashing for good. but it cant really crash can it? there is a limited amount of bitcoins (but there are smaller denominations of bitcoins tho). so even if those pumpers actually do sell it doesn't matter someone else will buy because you don't actually need a whole bitcoin to buy items online or in stores. people can still use small denominations, so I think there will still be demand for it. but its quite tricky the whole thing. I think bitcoin is turning into something akin to gold in value. it doesn't matter that a whole bitcoin shoots up in value, people will still buy and trade grams. I think at this point only difference between btc and gold is the volatility.

[@wesgander4281]

@@BurriedTruth I agree, but ask yourself, what is the worm and how did they get it? They mined or purchased bitcoins and then sold them for dollars. Its the same thing today, buy bitcoin with dollars, hang onto them and then eventually they will be worth more dollars, you can sell them and become rich in dollars. That's where it loses me, the original underlying purpose of bitcoin was to be used transnational in commerce, a way to depoliticize money. Now its turned into this idea of "digital gold", businesses might be willing to accept them, but the narrative to use them is changing, why use a bitcoin to say buy a pizza when you believe its value is only going up over time. Its no longer competition to dollars, people want to eventually turn their bitcoin back into dollars.

[@Dan-mm1yl]

Adam beck bitcoin creator

[@user-xw5fl1sk5c]

Great interview.

[@ImBeneficial]

We gonna just ignore the fact Charlie Munger predecited the current state of congress ? Munger >

[@noahhastings6145]

"We've all become fed up with the bureaucracy (in healthcare)" Yes! So let's put the government in charge of it! They're great at getting rid of bureaucracy!!

[@glorymanheretosleep]

Why won't it be better?

[@thelaw3536]

@@glorymanheretosleep They constantly mess up even basic financial concepts like all their price control laws

[@glorymanheretosleep]

@@thelaw3536 Do you think that's unintentional or is there some form of corruption going on with basic incompetence?

[@thelaw3536]

@@glorymanheretosleep The survey on Americans and Economists on the Economy shows that many issues that the public agrees with, that are wrong economically, are done, buy with less commitment. If anything things should be worse given the data. Singapore also has this problem except the only winning Party holds economically sound ideas as a requirement to join.

[@chivo_gaming]

They need someone with balls to interview Charlie...you can tell the reporter highly respects him but within that high regard is massive intimidation...

[@0xszander0]

Yeah this is weak. No follow up questions. Monger seems to have a hard stance on bitcoin, yet acknowledges he doesn't know much about it. I would ask him for arguments behind his reasoning and weird baby brain analogy. And why his opinion about it is so strong right after saying he doesn't know much about it.

[@ezrestorepc]

@@0xszander0 he said that will you invest in a company knowing that harvest baby brains? aka ETHICS and NOT SOCIAL VALUE, and THATS HOW HE FEELS ABOUT BITCOIN and THATS WHY HE DOES NOT INVEST IN IT, because bitcoin has no INTRINSIC value, you only buy it because you hope to sell it to someone else at higher price based on what? nothing

[@user-bz5io6ph8w]

Excellent interview ! 👏

[@segal_3237]

He’s 96 and still has a great sense if thinking.

[@irpiggie]

the best counter to brain degradation is constant reading and learning

[@BuonoBruttoCattivo77]

What a great man! "There ought to be some things that are beneath you"

[@MrFleischbrocken]

He said that about bitcoin right? He is totally missing the point of Bitcoin imo. It's main use case is to be immutable international currency everyone can use without any restrictions from any country or party. He started the interview of by saying he is happy how China evolved. Guess what: China obviously wants Bitcoin to be the world reserve currency instead of the USD.

[@BuonoBruttoCattivo77]

@@MrFleischbrocken I think we underestimate the advantages of having the USD as a defacto global reserve currency. I will take US-led liberal democracy over Chinese one party rule or Russian oligarchy any day.

[@vivaparenzo]

WOW! Mr. Munger said 'big trade deficit enabled China to escape poverty'. People of China produce goods and send them to US, with less goods in return. So people of China are poorer and people of US are richer by this trade. Despite all this, despite the communist dictatorship, embracing free markets made China richer very fast. Now they can be even richer even faster by consuming the goods themselves, and even richer even faster using deficit dollars they accumulated to buy European technology and African resources. Big trade deficit enabled US to escape poverty, and sure, US is free market and can re-industrialize itself quick if needed, but same dollars needed to re-industrialize are now competing with China for European tech and African resource.

[@1000xGLOBAL]

Today it's not about return ON capital. Today it is about return OF capital

[@JulienReszka]

When was this interview done?

[@SiLoMixMaster]

21:12

[@Duke-511]

2018

[@frankblangeard8865]

"As the world gets tougher you have to fish in places you didn't fish before" 15:33. And you have to start fishing for carp instead of for trout. .

[@Divyendu619]

I have a deep ♥️ and respect for Charlie Munger and Warren Buffet....lots of love from 🇮🇳

[@shivam.maharshi]

Lolol so much hate

[@pstolee]

Lots of words of wisdom said with simplicity.

[@cavaleer]

I don't think Munger is paying too close attention to the Chinese government. Arming your enemy is never good. I don't care how much money you make, especially if they won't allow us to trade fairly with them.

[@richho5610]

6:40 Charlie accurately predicted the result of president and both houses’ elections almost 2 years ahead! OMG!!

[@kevindavis8762]

Wow, this guy predicted something that happens every couple election cycles!

[@scottw5315]

Even the wholesale fraud? What about the 2 am votes? Did he predict those?

[@fpark101]

Charlie Munger describes American healthcare system so accurately in this video.

[@billjenkins1535]

And I think hes off his Crocker to think that government run health care will be better.

[@edwardbenes5015]

Good talk Thanks

[@Iseenoobpeoples]

Who did he mention at 10:25? Thanks

[@modr0160]

I admire sharp minded people like Charly. They don't take shit.

[@marcusavila2961]

Ole boy Charlie said, "Owwwww.... Bitcoin bit me!"

[@gilliebrand]

Thanks for sharing. A truly clever man.

[@Wulfcry]

Brilliant and retrospective.

[@charlibryant5543]

Wise assery 🙌

[@joeblack4436]

"Wells Fargo incentive progams". Hmph. That's a kind way of putting it.

[@alexm566]

what you expecting a major investor in it to say lol

[@joeblack4436]

@@alexm566 The words "teaching the test" will definitely not be mentioned I suppose.

[@edmahan369]

This was 4 years ago and this is the first time to see it. Charlie is perfect about politics and business.

[@tonylinardi3089]

I agree Charlie, to much hate in the world today, and be carful what we wish for. One day their will be a worse leader. I wish our political system could support better leaders. That dam pendulum!!

[@wsavage11]

Shoes. Ketchup. Oatmeal. Automobiles. Bitcoin sits squarely outside of "the circle of competency" of Mr. Munger.

[@josephmelton4721]

Keep telling yourself that

[@LAWSON08]

Munger: Complains about the Fed printing money by the trillions Also Munger: BTC has no purpose, is stupid and immoral

[@millerforester6237]

While the govt buys votes, they will print you out of your life savings.

[@Primus-ue4th]

I THINK I heard either him or warren say that they thought it would eventually be regulated by the government. And that you’d be wrong to think different. It is hard to believe that Uncle Sam would allow it to not be taxed. But, I am an idiot when it comes to Bitcoin. I don’t even understand how it gets ‘mined’ 😂

[@tompaulcampbell]

@@millerforester6237 Yes, but they will give you $600!

[@izzyauna8814]

He said what people are saying now. There is always a time when you want the old politician back .

[@jtorres6837]

So we just gonna act like he don't wear his glasses just like Arthur The Ant Eater? 😂

[@jn3750]

The guy was so smart that the army had to send him to Caltech to study before returning to the Army. Iq must around 170

[@alic690]

Great interview... Good common sense advice

[@factcheck1776]

"It's immoral for people to exchange value with each other in a way that I and the banks cannot control and profit obscenely from."

[@giannispets]

19:39 that's probably very delicate ironic humor. So delicate that the interviewer didn't even understand it 😂

[@alexserns]

He said computer science isn’t his subject.

[@rayspahn5232]

when you take dayquil and nyquil at the same time.

[@myrontaylor4250]

His ending thought on politics is so correct. 👍 Mr. Munger

[@user-nu8in3ey8c]

Mr. Munger is truly a well spoken and wise man. Even though this is an interview from earlier, I still enjoyed seeing it nonetheless. Personally I am not the greatest fan of bitcoin, but I think if someone wants to put money into it, its a risk that they are willing to take..........I do consider bitcoin mining energy waste immoral. I also consider it immoral for any financial advisor or counsel to convince their clients to put a large percentage of their portfolio into such a volatile commodity such as bitcoin. A person's life savings, or any significant percentage of it, should not be placed into a speculative nonproductive asset with such a high degree of volatility. Bitcoin really does not meet suitability standards for most retail investors hoping to retire.

[@delmonicofarquhar9893]

As usual, Charlie Munger understands what's happening in our economy, and others, far better than the average bear. One of the biggest reasons Warren Buffett became one of the richest men on the planet was because he leaned on Charlie. And I believe totally in his perspective on Bitcoin-- and Trump, too. LOL.

[@justinking5138]

Well you're sure a broke boy

[@csanton3946]

i will never forget what he said in one of their shareholders meeting when asked what he thinks about these corporate finance courses. and the answer he gave was these are the things that people create to make themselves feel good

[@pamgyang803]

Lol

[@youngwisper]

Fish Gong Which museum is it in?

[@jadeemp]

Such a wise man. ❤️

[@GunsAddiction]

This man is a living gem!

[@dontundra2259]

Yes he is.

[@Mstrofpup]

Charlie: 'Bitcoin is almost as bad as harvesting baby brains.' HODLers: O.o 'did he say baby brains?'

[@zacharycebu]

New & fantastic technology (Bitcoin) has historically made smart old dinosaurs sound psychotic, especially when they're heavily invested in anti-technology, in Mungers case, the (scammy) traditional banking system.

[@ezrestorepc]

nope, he said that will you invest in a company knowing that harvest baby brains? aka ETHICS and NOT SOCIAL VALUE, and THATS HOW HE FEELS ABOUT BITCOIN and THATS WHY HE DOES NOT INVEST IN IT, because bitcoin has no INTRINSIC value, you only buy it because you hope to sell it to someone else at higher price based on what? nothing

[@Mstrofpup]

@@ezrestorepc Bitcoins intrinsic value IS up for debate. What's NEVER up for debate: baby brain harvesting's intrinsic value. Comparing these these 'values' is utterly ridiculous.

[@ezrestorepc]

@@Mstrofpup and exactly HIS POINT and WHY he does not invest because is RIDICULOUS TO HIM to invest in bitcoin that why he compare it to

[@Mstrofpup]

@@ezrestorepc Munger doesn't attempt to understand Bitcoin. He could, but it's clear he chooses not to.

[@jaybee5478]

This aged nicely didn't it LMAO

[@mickeydrago9401]

Yeah look at the price of Bitcoin!

[@derekholyfield6089]

Munger is a smart man. Good interview.

[@prayunceasingly2029]

When you have a munger, you also need a buffet.

[@gartholamu7916]

Charlie Munger and Warren Buffet always have a can of Coca Cola at interviews. Is it secret to long life?

[@arielpaulettirauber4454]

Garth The destroyer yes , o I know a man who died 98 and drinked coke for the past 30 years huahuahus it makes no sense but a coincidence to be considered.

[@243wayne1]

Meanwhile, JP Morgan launches it's own Crypto currency approximately one year after Jamie Dimon says he's against Bitcoin. Class dismissed.

[@pr4nk5tr]

It's a USD pegged private settlement coin. Very little to do with Bitcoin.

[@CraftWon]

pr4nk5tr everything to do with bitcoin. Blockchain and modern cryptographic currencies would not exist without bitcoin. Can’t separate the two.

[@juggsbunny7866]

maybe same as Tether, or Ripple... far from Bitcoin. @@CraftWon

[@jaronshalalproductsllc2622]

Wisdom 📚