Charlie Munger, calls for a ban on cryptocurrencies in the US, following China's lead

Berkshire Hathaway's Vice Chairman, Charlie Munger, calls for a ban on cryptocurrencies in the US, following China's lead. He argues that a lack of regulation leads to excessive behavior and gambling.

Munger claims that cryptocurrencies are not actual currencies, commodities, or securities, but instead, a form of gambling with a 100% advantage for the house.

He suggests the US government enact new federal laws to prevent the use of cryptocurrencies.

Munger and his business partner, Warren Buffett, have been skeptics of cryptocurrencies for a long time, seeing them as intangible and unproductive assets.

The crypto industry has faced several problems in recent times, including failed projects, scams, fraud and liquidity issues, contributing to the market's loss of over $2 trillion in value last year.

Bitcoin saw a 65% decrease in 2022 and has since rebounded by 40% to trade at around $23,824.

Comments

Add comment

Oh ya 239 days ago

They are pushing this ban because they want to take control of you with CBDC. Once ypu sign up for this they can force you to do anything or they cut off your access to your bank account

Brad 240 days ago

Thailand: Pfizer contracts null and void. Thailand seeks billions in retribution from Pfizer for fraudulent covid injections

– naturalnews

Thailand seeks billions in retribution from Pfizer for fraudulent covid injections

In addition to ending the Pfizer contracts, the Thai government also plans to seek retribution to the tune of billions of dollars in payback from the company. That money will then go towards compensating all Thai people who “lost their existence” as a result of the Pfizer covid jab rollout.

Brad 240 days ago

The CBDC currency needs to be banned and so do NGO the government funds going to corporate welfare and NGOs need to be banned.

View all comments (3)Add comment

London Daily

Charlie Munger, calls for a ban on cryptocurrencies in the US, following China's lead

Comments

Newsletter

Related Articles

Here's Why They Must Prevent Trump from Regaining the Presidency

Paper straws found to contain long-lasting and potentially toxic chemicals - study

US president Joe Biden fall asleep during his meeting with victims of the Maui fires in Hawaii

Joe Rogan has said: No one can win Trump

FTX's Bankman-Fried headed for jail after judge revokes bail

Blackrock gets half a trillion dollar deal to rebuild Ukraine

Congressman alleges that covid was “pre-planned by an elite group of people. Event 201”.

These UFO claims are out of this world

Criminals are treated as victims, and victims are treated as criminals

Zoom, which helped millions work from home during the pandemic, is requiring employees return to the office