02-17-2022, 10:38 PM
Charlie Munger admires China for banning Crypto, We should admire him for not knowin
<!-- SC_OFF --><div class="md"><h1>He forgot HSBC laundered money for Mexican Drug Cartels on number of occasions</h1> <blockquote> <p>Noting Bitcoin and other cryptocurrencies as "beneath contempt", Munger went as far as deeming the main use for this "apparent modernity" as being limited to "extortion, kidnappings and tax evasion".</p> </blockquote> <h1>Even Though China banned Crypto 6 times, Crypto is still working like before even with more users</h1> <blockquote> <p>Wishing it had been banned immediately, Munger said he admired China for immediately banning it while acknowledging that "we (US) were wrong to allow it". Expressing pride over never having invested in cryptocurrencies himself, Munger considered cryptos as nothing more than "venereal disease".</p> </blockquote> <p>Watch out guys, Crypto is the only threat to civilization (/s) </p> <blockquote> <p>Munger's disgust and disdain for cryptocurrencies are nothing new. Even last year, during Berkshire Hathaway's annual meeting, he observed that he "hated the bitcoin success", viewing Bitcoin as a worthless asset class that has no underlying asset or value, other than speculation. "I think the whole damn development is disgusting and contrary to the interests of civilization", he continued.</p> </blockquote> <h1>This is where he deserves your admiration, For telling us there is no difference between Bank Account and digital currency</h1> <blockquote> <p>The Federal Reserve could have a currency if they want one. We’ve got a digital currency already, it’s called a bank account. The banks are all integrated with the Federal Reserve system", he noted.</p> </blockquote> <p>Source : <a href="https://www.moneycontrol.com/news/business/cryptocurrency/charlie-munger-on-cryptocurrencies-venereal-disease-glad-ive-avoided-it-8117241.html">https://www.moneycontrol.com/news/business/cryptocurrency/charlie-munger-on-cryptocurrencies-venereal-disease-glad-ive-avoided-it-8117241.html</a></p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/Acceptable_Novel8200"> /u/Acceptable_Novel8200 </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/sunydp/charlie_munger_admires_china_for_banning_crypto/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/sunydp/charlie_munger_admires_china_for_banning_crypto/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><h1>He forgot HSBC laundered money for Mexican Drug Cartels on number of occasions</h1> <blockquote> <p>Noting Bitcoin and other cryptocurrencies as "beneath contempt", Munger went as far as deeming the main use for this "apparent modernity" as being limited to "extortion, kidnappings and tax evasion".</p> </blockquote> <h1>Even Though China banned Crypto 6 times, Crypto is still working like before even with more users</h1> <blockquote> <p>Wishing it had been banned immediately, Munger said he admired China for immediately banning it while acknowledging that "we (US) were wrong to allow it". Expressing pride over never having invested in cryptocurrencies himself, Munger considered cryptos as nothing more than "venereal disease".</p> </blockquote> <p>Watch out guys, Crypto is the only threat to civilization (/s) </p> <blockquote> <p>Munger's disgust and disdain for cryptocurrencies are nothing new. Even last year, during Berkshire Hathaway's annual meeting, he observed that he "hated the bitcoin success", viewing Bitcoin as a worthless asset class that has no underlying asset or value, other than speculation. "I think the whole damn development is disgusting and contrary to the interests of civilization", he continued.</p> </blockquote> <h1>This is where he deserves your admiration, For telling us there is no difference between Bank Account and digital currency</h1> <blockquote> <p>The Federal Reserve could have a currency if they want one. We’ve got a digital currency already, it’s called a bank account. The banks are all integrated with the Federal Reserve system", he noted.</p> </blockquote> <p>Source : <a href="https://www.moneycontrol.com/news/business/cryptocurrency/charlie-munger-on-cryptocurrencies-venereal-disease-glad-ive-avoided-it-8117241.html">https://www.moneycontrol.com/news/business/cryptocurrency/charlie-munger-on-cryptocurrencies-venereal-disease-glad-ive-avoided-it-8117241.html</a></p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/Acceptable_Novel8200"> /u/Acceptable_Novel8200 </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/sunydp/charlie_munger_admires_china_for_banning_crypto/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/sunydp/charlie_munger_admires_china_for_banning_crypto/">[comments]</a></span>Kind Regards R