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.
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.
@@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
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.
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?
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 Shame on you, Yahoo Finance for passing this off as a recent interview when in fact it's outdated information.
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.
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.
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
@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.
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
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.
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.
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.
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
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.
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.
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.
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.
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.
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)
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😂
@@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?
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.
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.
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.
“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
@@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...
@@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%!
@@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
@@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...
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.
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’ 😂
They need someone with balls to interview Charlie...you can tell the reporter highly respects him but within that high regard is massive intimidation...
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.
@@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
@@jimmysmith736 He means that the off-brand Europeans of the United-States project had a good run but it's about time the world returned to its natural order. The future is bright red 🇨🇳
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
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.
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
@@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.
"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 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.
2:51 China, Free Trade and Berkshire's shoe biz in Maine "There's no way to make an advanced civilization [that] never hurt anybody as it evolves." 5:45 TSLA 8:30 Health Care, Single Payer, Kaiser in CA and comparisons to Singapore (USA does not compare well) 8:50 John D Rockefeller I invests $50M in US medical schools imitate Johns Hopkins (which imitated Germany) 16:13 Bitcoin: positive comments as a triumph of creating something in computer science; negative comments related to it as a payment system and why trade in an asset that flucuates 20% in a day? But doesn't offer the context of it as a more portable inflation hedge with lower transaction costs (vs SLV GLD) in light of dramatic QE. Ignores cross border applications and fixated on speculation. 18:50 Trump, politics, Rise and fall of the Roman Empire
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.
@@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.
"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...
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....
Years ago in an interview with Warren they both said they don’t care about Bitcoin yet everyone always wants to know their opinion. They’ve made it clear they don’t like it and it’s crap yet they still keep getting asked so this would explain it.
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.
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.
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.
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.
haha so massive printing of money and creating a massive debt for future generation is moral. banks getting bail out and not going to jail for 2008 incident is moral.
he should have just said he doesn't understand it so he doesn't buy it, which would have been a perfectly acceptable response given his age, you can't call something immoral you don't understand. These guys are from a different era, they still think banks should be keeping their financial monopoly in the economy
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.
@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.
@@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.
I think these guys are looking at Bitcoin from different angles. Musk is a technical guy, he looks at Bitcoin as a technology and Bitcoint is a brilliant technology. Munger is looking at Bitcoin from investment perspective. Bitcoin is stupid and immoral as an investment.
Just hours ago Elon Musk announced $1.5b worth of BTC to be bought through Tesla... I was going to comment saying ‘How did that comment work out for you?’ But when BTC peaks this year and then goes into another bear market, I’ll have the same being said to me. Then when it next pumps in a bull market a few years from now, which historically speaking it has a high chance of doing, I’ll say the same back to those comments. So I’m just not going to bother in the first place😂
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
“I can’t criticize anyone else for wiseassery”
Good advice for a lot of people.
That was hilarious :-D
@@RasheedKhan-he6xx including me!
charlie is so sharp! Lmao
@Nag Dasty how?
Charlie needs to say "over." at the end of his response so the interviewer knows when he's finished. XD
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.
3 seconds seems valid in mostly every context and if you can't catch it, I guess something is missing.
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!
It's also entirely possible he's not sure himself when he's done. It does lead to an interesting flow though. :)
😂😂
This man has the brain of a 30 year old in the body of a 90 year old.. it’s remarkable.
Sure is remarkable. You would think he would have gained a little wisdom in those many years.
@@Starrsy4 In terms of sharpness, not in terms of knowledge.
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.
At his age he says "people like bitcoin because it's a great feat of computer science"... that's incredible to me
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.
We need him to do a Joe Rogan podcast. 2-3 hours of Charlie talking about stuff would make the world smarter.
Андрей Борисович Joe would not be able to keep up
@davidl0917 musk is all about PR.
Except when it comes to the blockchain
Yess please!
Charline munger: “the average human condition is ignorance and stupidity”
🤣💯🔥
I enjoy this Mr Munger’s no bullshit approach to everything. Cut the waste and drive forward!
Especially Bitcoin BS! Listen to the genius!
It’s so refreshing!
@@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
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.
@@irclaw42 Bitcoin has died and revived so many times now, and what is dead may never die.
Amazing clarity at 95 years old. Him and Buffett sitting around sharpening their minds against each other.
Because he drinks baby blood full of adrenaline.
@@petefaders give me proof and dont speculate
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?
5:30 is where he talks about elon musk
The hero we needed
thx
Hassan Ali thank u
ELON MUSK BRILLIANT!
Thank you
Amazing interviewer. Doesn't interrupt and asks interesting questions by taking very little time.
What a high quality interview. I wish we had more of journalists at this level. Very enjoyable. Thanks.
Very much so🙌🏽
Munger is dropping BOMBS on this interviewer. That last note about politicians is heavy!!!!
His 95 year old brain is incredible.
Boomer is outdated. He needs AI upgrade.
@@MS-hn3wo lmfao
Wow. This video is 5 years ago. The prediction is so accurate lol. What a legend.
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.
Lucas Stone well done
I was searching for the date and thought he looked a little younger. Shoulda put the date.
I saw something like this just earlier thought that too.
And what difference would that make
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.
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.
Silence in between utterances denotes reflecting, silence during utterances denotes listening
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
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
Cmdr Lucas healthy living?!
@@SurferTy If somebody is functional and very obviously mentally acute at 95, yeah, they did something right lol
He's only 95 because he's a wealthy reanimated corpse. No healthy person breathes like that.
@@joshuamoore2721 wtf you want him dunking basketballs?
@@jcherestal Shooting 3's at least!
16:00 he talks about bitcoin
Hero
waterislife and he’s right
ΜΟΛΩΝ ΛΑΒΕ nope he’s wrong!
@Jeff GG "blockchain technology" is a scam to pump shitcoins. Bitcoin is amazing.
@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.
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
Just shows he is thinking first before speaking. What so many fail to do, and fail.
His mind never became lazy, therefore his knowledge is considerable and his thoughts are straight up....Gid Bless🙏🏻❤️🙏🏻
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.
The interviewer has bad timing. Ya gotta give Charlie time to dispatch his wisdom nuggets.
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.
Charlie is the one with the bad timing. He gives every indication he's done with a sentence, like he's baiting the interviewer.
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
It's his legacy man!!!
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.
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.
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
I just came to watch Charlie, I don't really give a crap about Elon or Bitcoin.
@@connorgodfrey dude, totally missed your comment. it's so sad.. whatever happened to real conversations that last more than 15 seconds?
It's amazing how this man is in his 90's and is still sharp as a tool
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.
Almost 100.
Elon Musk 'brilliant' and bitcoin 'stupid'
Ironic that Elon Musk (via Tesla) recently purchased $1.5B of BTC.
right.
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.
@@tomcat8662 watch for $100000 price by next spring 2022
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.
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.
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.
well yeah power corrupts. just look at what happened to Nicaragua
@@LoanwordEggcorn Don't forget the US. Hasn't been a democracy for decades now lol
@@dragonblazzer9698 The U.S. is a Constitutional Republic. Study what that means.
You would think one of the richest men in America would have better fitting glasses.
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)
@Billy CareforaHo: There are 1334 people richer in US in 2020. Check them too.
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😂
@@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?
Resentment, not a good start
There's no person in this whole world I admire more than Charlie Munger.
there is no person in the world who wanted to know that
@@ricklocket2812 at least 5 people did.
@@rodrigobraz2 no 8 people did:)
@@hettvaya heheh 9
@@ricklocket2812 If this is your attitude online, have fun trying to succeed in the real world
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.
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.
"We're way ahead of the romans at the end" 😂😂
He has placed his expectations so low, he's content at the current situation.
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.
Rise of right wing authoritarian regimes the world over? Which ones exactly?
@Luke Ulibarri The ones he (or should i say it?) disagrees with
Today it's not about return ON capital. Today it is about return OF capital
he predicted Democrats' wins on presidency, congress, and senate in 2019....
@ guess u r what you see
its not hard to predict...the pendulum swings. 8 years of a black dem, and then BAM! a white Republican businessman.
“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
Except AOC. Shes too dumb and divisive. I can easily imagine this being true about Sanders, Trump, Obama, Clinton, Warren etc., but not AOC.
Amazing interview. Straight to the point and a lot of uncommon sense that should be common from Charlie.
A total moron when it comes to the blockchain
@@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...
@@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%!
@@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
@@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...
We gonna just ignore the fact Charlie Munger predecited the current state of congress ? Munger >
6:40 Charlie accurately predicted the result of president and both houses’ elections almost 2 years ahead! OMG!!
Wow, this guy predicted something that happens every couple election cycles!
Even the wholesale fraud? What about the 2 am votes? Did he predict those?
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.
What does being 28 have to do with it?
just another crook in a suit
Munger: Complains about the Fed printing money by the trillions
Also Munger: BTC has no purpose, is stupid and immoral
While the govt buys votes, they will print you out of your life savings.
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’ 😂
@@millerforester6237 Yes, but they will give you $600!
“Wiseassery” 😂😂🤣🤣 Oh Charlie! Zinging as always!
What does the word mean?
Most prophetic moment is when Charlie said people would want Trump back! This was in 2019 😂😁 How right he was! 🇺🇸🇺🇸🇺🇸🇺🇸
They need someone with balls to interview Charlie...you can tell the reporter highly respects him but within that high regard is massive intimidation...
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.
@@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
Munger has not time for BS. His POV is refreshing.
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
What does he mean by this?
@@jimmysmith736 He means that the off-brand Europeans of the United-States project had a good run but it's about time the world returned to its natural order.
The future is bright red 🇨🇳
Love Charlie so much, such a brilliant great person
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
Respect 👌
A very astute and learned man. Respect him...
"That's a pretty low bar" lmaooooo
I have a deep ♥️ and respect for Charlie Munger and Warren Buffet....lots of love from 🇮🇳
Lolol so much hate
6:27 - LOL!!! I haven't laughed that hard this year yet.
He’s 96 and still has a great sense if thinking.
the best counter to brain degradation is constant reading and learning
Andy did a great job with this interview.
Andy is a liberal buffoon and extremist
"there will come a time when those people who hate trump will wish that he were back"
He thinks it immoral because he can't position himself as a gatekeeper to enrich himself.
Why are you reposting this as if it were new when we are expecting a new interview following the annual meeting yesterday?
Why do you think?
Charlie: 'Bitcoin is almost as bad as harvesting baby brains.'
HODLers: O.o 'did he say baby brains?'
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.
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
@@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.
@@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
@@ezrestorepc Munger doesn't attempt to understand Bitcoin. He could, but it's clear he chooses not to.
Charlie Munger describes American healthcare system so accurately in this video.
And I think hes off his Crocker to think that government run health care will be better.
"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!!
Why won't it be better?
@@glorymanheretosleep
They constantly mess up even basic financial concepts like all their price control laws
@@thelaw3536 Do you think that's unintentional or is there some form of corruption going on with basic incompetence?
@@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.
2:51 China, Free Trade and Berkshire's shoe biz in Maine
"There's no way to make an advanced civilization [that] never hurt anybody as it evolves."
5:45 TSLA
8:30 Health Care, Single Payer, Kaiser in CA and comparisons to Singapore (USA does not compare well)
8:50 John D Rockefeller I invests $50M in US medical schools imitate Johns Hopkins (which imitated Germany)
16:13 Bitcoin: positive comments as a triumph of creating something in computer science; negative comments related to it as a payment system and why trade in an asset that flucuates 20% in a day? But doesn't offer the context of it as a more portable inflation hedge with lower transaction costs (vs SLV GLD) in light of dramatic QE. Ignores cross border applications and fixated on speculation.
18:50 Trump, politics, Rise and fall of the Roman Empire
"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. .
Brilliant interview 👏. Charles has a handle on the ways of the world.
What a great man! "There ought to be some things that are beneath you"
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.
@@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.
"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...
This man is a living gem!
Yes he is.
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....
It's strange how angry he got when they started talking about bitcoin.
They will all act different publicly.
he compared it in ethicy to freshly harvested baby brains... jeez
Years ago in an interview with Warren they both said they don’t care about Bitcoin yet everyone always wants to know their opinion. They’ve made it clear they don’t like it and it’s crap yet they still keep getting asked so this would explain it.
@@Zaflon he looked like Bilbo Baggon's trying to get the ring again. His fangs came out. Lmao.
It’s because he owns metals and currency, bitcoin will cut into his pockets
"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."
" There's no way to make an advanced civilization that never hurt anybody as it evolves"
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.
Well you're sure a broke boy
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.
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.
This aged nicely didn't it LMAO
Yeah look at the price of Bitcoin!
Charlie Munger and Warren Buffet always have a can of Coca Cola at interviews. Is it secret to long life?
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.
Shoes.
Ketchup.
Oatmeal.
Automobiles.
Bitcoin sits squarely outside of "the circle of competency" of Mr. Munger.
Keep telling yourself that
19:39 that's probably very delicate ironic humor. So delicate that the interviewer didn't even understand it 😂
Ole boy Charlie said, "Owwwww.... Bitcoin bit me!"
Excellent interview ! 👏
Meanwhile, JP Morgan launches it's own Crypto currency approximately one year after Jamie Dimon says he's against Bitcoin. Class dismissed.
It's a USD pegged private settlement coin. Very little to do with Bitcoin.
pr4nk5tr everything to do with bitcoin. Blockchain and modern cryptographic currencies would not exist without bitcoin. Can’t separate the two.
maybe same as Tether, or Ripple... far from Bitcoin. @@CraftWon
He said what people are saying now. There is always a time when you want the old politician back .
A great human being. We need more of his kind!
No we have enough 96-year-olds
@@mickeydrago9401 lucky corona is here to kill them off for you then
@@samsloan2526
He doesn't understand the blockchain... And simply has superficial salty language for it...
@@mickeydrago9401 blockchain is old technology, since 1990s
Oh bitcoin only has the value that people put onto it, completely unlike any other fiat currency in the world today...
When you have a munger, you also need a buffet.
January 2022, and Charlie Munger was right again.
21:11 alright! let's get that sandwich!
Fish Gong
Which museum is it in?
haha so massive printing of money and creating a massive debt for future generation is moral. banks getting bail out and not going to jail for 2008 incident is moral.
it look like munger have some big interest in insurance companies, and taht is why he inspire in mandatory helthcare insurance
you do know who he is? he got nothing to do with the 2008 shit
@@shafiqahmedbosan3888 munger is investor, who have interest in insurance, including healthcare
He will be a supporter of bail ins during the next financial crisis. Shameful
Blame government. THEY bailed out the big banks
another critic of bitcoin that simultaneously doesn't understand its purpose. "we've got debit cards."
he should have just said he doesn't understand it so he doesn't buy it, which would have been a perfectly acceptable response given his age, you can't call something immoral you don't understand. These guys are from a different era, they still think banks should be keeping their financial monopoly in the economy
@@swertooo the immoral comment made me laugh.. as if the financial world is suddenly motivated purely by ethics
@@PedalScience reminds you of POLITICS!!!
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.
@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.
@@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.
Adam beck bitcoin creator
Ending starvation is great. Now China just needs to release its citizens from slavery.
Thousands of companies left the US
Charlie truly a critical thinker. Great man.
Great interview.
Good talk Thanks
Wise assery 🙌
Munger is a smart man. Good interview.
And Musk just called Bitcoin brilliant lmao
BOOM 💥 lol 😆. (He actually did)
And musks not an investor
Musk is an investor haha & he’s also Brilliant, he has more money at his age than both of these guys had, brilliant in deed
@@MMHONCHO yea because hes an entrepreneur
I think these guys are looking at Bitcoin from different angles. Musk is a technical guy, he looks at Bitcoin as a technology and Bitcoint is a brilliant technology. Munger is looking at Bitcoin from investment perspective. Bitcoin is stupid and immoral as an investment.
Who did he mention at 10:25? Thanks
charlie was spot on with bitcoin, what a sham
Bought it at 2000 sold at 46 k. You sir know little.
Just hours ago Elon Musk announced $1.5b worth of BTC to be bought through Tesla... I was going to comment saying ‘How did that comment work out for you?’ But when BTC peaks this year and then goes into another bear market, I’ll have the same being said to me. Then when it next pumps in a bull market a few years from now, which historically speaking it has a high chance of doing, I’ll say the same back to those comments. So I’m just not going to bother in the first place😂
This guy has unbelievable clarity. So much so that it can never be bs.
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
Lol
when you take dayquil and nyquil at the same time.