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to this question about crypto that uh Benjamin writes in he says in 2007 at the USC Law School Charlie said I'm not entitled to have an opinion on this subject unless I can State the arguments against my position better than the people who are supporting it the question is does this also apply to your Wall Street Journal article on Banning cryptocurrencies and if yes would you care to share the arguments against your position well I I uh I don't think there are good arguments against my position I think the people that oppose my position are idiots and and and so I don't think there is a rational argument against my position this is an incredible thing naturally people like to run gambling conos where other people lose and the people who invented this crypto cppo which is my name for it and sometimes I call it crypto krabo and sometimes I call it well crypto and it's just ridiculous that anybody would buy this stuff and it isn't you can think of hardly nothing on Earth there has done more good to the human race than currency National currency currencies they were absolutely required to turn man from a goddamn successful ape and have model modern successful humans in human civilization because it enabled all these convenient exchanges so somebody says I'm going to create something that sort of replaces the national currency it's like saying I'm going to replace the National Air you know it's it's as anine it it isn't even slightly stupid it's massively stupid and and of course it's very dangerous and of course the governments were totally wrong to permit it and of course I'm not proud of my country for allowing this crap what I call the crypto to it's worthless it's no good it's crazy it'll do nothing but harm it's antisocial to allow it and the guy who made the correct decision on this is the Chinese leader the Chinese leader took one look at crypto ship he says not in my China and boom oh there isn't any crypto in China he's writing we're wrong and there is no good argument on the other side I can't can't Supply it so does that counter what you said back at USC that you shouldn't have a position unless you counter I I do think you ought to be able you ought to be able to State a lot of issues you ought to be how big should the social safety net be that's a place where reasonable Minds can disagree and you should be able to State the case on the other side about as well as the case you believe in but when you're dealing with something as awful as crypto you're you uh it's just unspeakable it's it's an absolute horror and and H I'm ashamed of my country that so many people believe in this kind of crap and the government allows it to exist it is totally absolutely crazy stupid gambling with enormous house odds for the people on the other side and they cheat in addition to cheating in the betting and it's just crazy so that is something there's only one correct answer for intelligent people there just totally avoid it and avoid all the people that are promoting it how do you feel about the gambling that took place at the Super Bowl and surrounding that and the legalized gambling taking place in this country at this point well it's not as bad as crypto I I I I don't think there's much harm in betting a modest amount you can afford on a supermarket bowl game that that strikes me as pretty you know if you do it with a friend and not with a bookie and so I I don't I don't have the same feeling I obviously don't think you should have a gambling compulsing to run around betting against odds if you take all the money that I have bet against odds in my whole life I don't think it's more than a few thousand dollar Allan Chay writes in and he says if I'm all in favor of betting with the odds with the odds yeah Alan Chay writes in yeah sure says if Mr Munger thinks that Bitcoin and ethereum are rat poison has he ever profited by shorting them no I don't short that isn't great I have made three short sales in my entire life and they're all more than 30 years ago and and and and one was a currency and and and there were two stock trades in the two stock trades I I made a big profit on one and made a big loss on the other and they canceled out and I and in my currency bet I made a million dollars but it was a very irritating way to make a million dollars I I'm I I I've stopped not worth the headache I guess well you can laugh but that but that's that's true it was irritating because you were worried well cuz I kept asking you for more margin I kept sending over treasury notes it was very unpleasant I made a profit in the end but I never wanted to do it again please like And subscribe thank you
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