I predicted a long time ago that with peak liberalism would come peak Buffett worship. Buffett should just shut up and quit while he's ahead but instead he's out with more bad advice each week such as telling people that they should continue to stay in the stock market into retirement. Today's he's giving more bad advice, this time calling Bitcoin "rat poison".
If bitcoin is rat poison then it implies that those who like it are lowly rats. Why not just call these people a basket of deplorables like career criminal Hillary did? Nobody likes to be talked down to and this is going out of character for Buffett to do so. It smacks of desperation. After all, how is the dollar really any different from bitcoin? Both are worthless fiat currencies. The only difference is that one of them is government controlled and the other is not. Does his statement that "bitcoin is an asset that produces nothing" not apply equally well to the US dollar and all other currencies? Does that mean they are rat poison too?
It is a matter of record on my subscriber site that bitcoin was near a significant bottom according to my wave count (I bought in the low $10 range as documented there, now trading for $15.09). So long as the market agrees with what Buffett is saying he will continue to be idolized by sheeple. But when those same sheeple lose big money (whether in principle losses or as a result of having missed the train leaving the station) for having listened to him, the herd will turn on him and his legacy will be trampled. Peak liberalism will also be peak Buffett. You heard it here first.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment