Keiser Report: Warren Buffett Adds Nothing To The Economy (E1125)

RTMAXKEISER – May 15, 2018: Stacy: …Cryptocurrency, Bitcoin, is a response to their (i.e. Warren Buffett and Charlie Munger) legacy. They are witnessing what they caused. This is a response to the financial system they created. They had wished this had happened after they were gone, and these are just old men railing against the youth who has basically given them the middle finger for their financial system that they left behind.

Max: Right. This new generation has toss-out that the financial market has been rigged horribly by the like of the crony capitalists over there at Berkshire Hathaway and they are friends with the central banks, and even the St. Luis central bank head recently said that this new generation is embracing crypto as the reaction to the 2008 (financial) crisis.

Stacy: So I think that it’s important to understand that these two old man, they are like the dominant figures in the financial world that Bitcoin is a response to. So it makes sense that they have been called out, brutally so. Bitcoin itself doesn’t need to call them turds with dementia.

Max: Well, let me explain that, Berkshire Hathaway is anti-American and anti-democratic. And you can look at that quite plainly by understanding the stock price of Berkshire Hathaway which never split. So it’s trading at I think they are 300,000 dollars a share. So the message from Charlie Munger and Warren Buffett to Americans is, unless you have  got 300,000 dollars to buy one share of Berkshire Hathaway, you are a pleb, you are a peasant. You know, they are the neo-feudal lords, that are bilking the system, milking the system, abusing the system and aggregating wealth as rontiá coupon clippers and nickel and dimers. They (Warren and Charlie) add nothing to the economy. Warren Buffett has not had an original idea in his entire life. He simply uses insurance premium to take huge stakes in companies and then uses his political influence to manage a return that is under performing the S&P. …

(BattlleForWorld: Warren Buffett knows nothing about the new digital technology. He’s still stuck in the old world of analog technology – trains, buses, etc.)

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