https://www.cnbc.com/2022/04/07/thiel-calls-buffett-sociopat…
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“The Alarming Rise of Peter Thiel, Tech Mogul and Political Provocateur”
NY Times
Thiel knows something about sociopathy.
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Buffet is a sociopath? Woof. Tough room.
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WEB is dishonest about the monetary debasement, how he has been one of the biggest beneficiaries and most importantly, that bitcoin is the solution
WEB is trapped in USD’s. He has to have the printing presses running or the entire system defaults. He even admitted, that even though he would have been the last man standing, he would gone to ZERO in 2008-2009 if they did not intervene.
Bitcoin fixes this.
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How would Buffett end up with zero in 2008-2009?
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Look up his quote. He admitted if “they” did not step-in he would have gone down too. He would have been last but the printing press saved him. FACT.
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Look up his quote. He admitted if “they” did not step-in he would have gone down too. He would have been last but the printing press saved him. FACT.
Sure. No economy, no companies.
Emphasis on “would have been last”, of course.
Follow the logic…
If a 5km asteroid hits the earth we all die.
So, if the US government subsidizes an asteroid diversion, that makes Mr Buffett a corporate welfare bum getting vast unfair subsidies.
If the rocket uses parts from PCC, it’s profiteering as well.
Can’t win.
Jim
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. WEB is trapped in USD’s. He has to have the printing presses running or the entire system defaults. He even admitted, that even though he would have been the last man standing, he would gone to ZERO in 2008-2009 if they did not intervene.
Bitcoin fixes this.
Fortnite skins fix nothing. Bitcoin is yet another American frontier religion, and a subversively anti-American one at that. It’s a piece of libertarian fantasmagoria that can’t function as money in any real since unless the state allows banks to hold crypto as their reserves. Like all money, it must be sanctified by the state.
Any party willing to grant crypto that holy state in the USA would preside over the end of America as our power rests in the dollar serving as the only real reserve currency. American hegemony rests on the dollar and the fools that dream of a post-dollar economy really dream of a world without America.
Crypto should be strangled in its crib through strict regulations rather than further encouraging the subversive dreams of petulant libertarian billionaires of finally ending the state through a war on money.
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I continually find it charmingly entertaining to read comments related to some bizarre thing when the price of that entity rapidly escales. If you guys are say 40-ish and you live an average lifespan you will expeience many of these cycles.
Cryptos are the ultimate private fiat currencies and every young man in my community with obsessive needs to live slightly outside the confining structure of our productive workplace is mining the stuff. Everywhere I go it is the same story: “Dude, we invested $150,000 and are netting $350 a day with only an $800 increase in the monthly electric bill…a payback of a year!”
My view is that we need to get this out of our system so we need to go rebel-without-a-cause and dress like Elon at the Cyber Rodio; tell our boss to go to hell; buy the latest (surely it uses half the electicity of that worthless crap you bought 6 months ago) crypto making (make sure it makes all cryptos because you never know which one’s gunna get chased the most) basket; rent that building that once produced something you could use; and just mine stuff that shows up on some electonic page that everybody-and-his-brother is obssessing for.
Be nimble people…what’s chased is going to change and change dramatically. I know, I’ve watched it all for longer than you have.
Still looking for those that these type endeavors have made rich in my community. Hope to find one at some point to prove this model is the real NEW NEW THING. It was so much more fun back in the Cisco (et als) days when companies used stock (stock expense was free on financial statements) to pay for all things. At some point Johnny Chambers was going to show sales and profits as the same figure given all parties wanted Cisco stock rather than cash.
Cash is trash; I want that thing on my webpage that says I have some crypto holding. I want that so I can watch it go up exponentially…because of course Elon tells me it is going to go up.
Life is great…if you can stand it.
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Buffett didn’t say that. Nowhere has Buffett ever said that Berkshire was going to zero, Buffett always said that Berkshire never needed a bailout.
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There are already 4 crypto currencies, bitcoin is only one of them. More could come, such as crypto gold. There should have been more serious discussions among academics and governments about the consequences.
There are already 4 crypto currencies, bitcoin is only one of them.
Don’t you mean 4,000? I don’t know the exact number and can’t be bothered to look it up, but I’m sure it’s well into the hundreds, if not thousands.
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Great post, chompin, but don’t you know you’re just going to get dismissed as part of the gerontocracy? Perhaps another sociopathic grandpa? LMAO.
Bitcoin et al. are interesting. They are assets, but not money. How valuable they will be in the future? I don’t have the slightest idea. I also don’t have a clue what kind of pathway would lead to them being used as an actual currency nor how the would prevent the kind of crash we had in 2008. Sure, the minting of bitcoins is limited, but is the global economy really going to operate off of a limited number of bitcoins and that’s it? Hell no, there will be all kinds of loans and derivatives that will expand the money supply just the way there are around the dollar.
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Ben,
Let’s just make a wild guess that Tesla/Musk somehow both make a lot of money and get even more of a cult focus. Then, to the crypto obsessed world, Elon drops the bomb:
“Musky” comes out, the ultimate cult crypto. In one week Bitcoin falls 95% while the NEW NEW THING Musky follows the standard Musk cult model and…
…(of course) blasts into space!
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you can tell a lot about someone by the enemies they attract, and you could do a lot worse than this guy.
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Wall sheet is the most culpable. They would promote and trade anything as long as they can extract commission.
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Wall street