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Crypto, a stupidity threshold test.

Charlie Munger summarized crypto and the currency market so eloquently: "stupid shit".

I would suggest you watch the whole video but you should watch the segment on crypto's. I have been trying to tell people this for years not. Lets hope Munger is someone people 'can' listen to.

The irony is that crypto is a game of mouse trap. You get people to invest in something with less tangible value than monopoly money. You engineer market value increases.

Those with holdings than take loans out with them banked this asset. Through engineering you than collapse market value of the asset because the value was based on nothing outside of belief and greed.

Now these financial institutions own you through loans and debt backed by valueless assets. It is as if the marketers are the Pied Pipers marching so many into self destruction.

This piece was inspired by this video

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