Reason | Sep 24, 2020 | 0
Charlie Munger “Afraid” US Policymakers “Print Too Much Money… End Up Like Venezuela”
Despite him and his investing partner’s success at riding a wave of almost constant debt-fueled re-inflation since they met 60 years ago, Berkshire Hathaway Vice Chairman Charlie Munger sounded more like a Zero Hedge conspiracy crank than the seasoned old wise man he is venerated as.
“I am so afraid of a democracy getting the idea that you can just print money to solve all problems,” warned the 95 year old, ominously concluding that “eventually that will fail.”
The billionaire, seemingly veering off script, added: “who knows when money printing gets out of control.”
But he was not done, telling CNBC’s Becky Quick that this is not just the “extremists” on the left, “both [political] parties have learned they can print all the money they want,” seemingly with no consequence.
“In the end,” Munger warned, “if you end up printing too much, you end up like Venezuela.”
Which no one but Bernie Sanders wants…
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