Charlie Munger is one of the leading investors in the world. He’s worth billions of dollars and is an investing partner with the legendary Warren Buffet.
Munger has a start warning for America, which he delivered on Wednesday during a key interview. Munger held nothing back. He said the US dollar is doomed and cryptocurrency isn’t the solution, either.
Munger: We Are Now Seeing How ‘Democracies Die’
According to Munger, the inflation we’re experiencing under Biden is only the beginning and it will get a lot worse. He pointed to pre-Nazi Germany and the Great Depression as a past example of what happens during hyperinflation.
Munger said a “dangerous environment” similar to Weimar Germany is on the way for America. He also linked currency hyperinflation to the fall of the Roman Empire.
Centuries of its monetary system loss did precede the eventual collapse of Rome. Munger warned apart from nuclear and apocalyptic war, the “biggest” risk America has right now is the implosion of our currency.
With the Consumer Price Index up over 7% and the most in half a century, people should ignore Munger’s warnings at their peril. He’s onto something very disturbing and very true here.
“Inflation is a very serious subject,” Berkshire Hathaway Vice Chairman & Daily Journal Chairman Charlie Munger says. “You can argue it’s the way democracies die.” More: pic.twitter.com/mZsNhmSmIC
— Yahoo Finance (@YahooFinance) February 16, 2022
Munger’s prophecy is something we should all pay attention to. Our political class is rotten to the core; the America First movement has also been infiltrated by many RINOs and globalists.
Joe Biden is the absolute worst kind of person to have in office right now: a heavy-spending Democrat with no understanding of economics or loyalty to the integrity of the currency. He has no plan and he never did.
Meanwhile, inflation cranks up. Nancy Pelosi buys her stocks and takes a tidy return. Money makes money, but what about the rest of us whose savings are rapidly losing value and becoming worth less than the paper they’re printed on?
We are not yet anywhere near Weimar Germany, but that’s the problem. These kinds of economic collapses like what happened in pre-war Germany can sneak up out of the blue.
Everyday Germans thought everything would get better for many years. However, their currency slowly began to slide; then the disaster after World War One lit the spark that torched the country and made its money worthless.
Is America on track for a similar fate to ancient Rome or Weimar Germany?
“#Inflation is a very serious subject. You can argue it’s the way democracies die.”
— Julianna Tatelbaum (@CNBCJulianna) February 17, 2022
The Bottom Line
We’re on a sinking ship and it’s important to store value. For some, that will be cryptocurrency, precious metals, gems, or even goods and weapons they can barter.
At the end of the day, however, the greatest wealth we have is our physical health and our friends and family. Stay close and stick to those you trust; dark times are ahead.