"New Normal" Mungerisms: From Jews & Gold To Bankers & Heroin

Tyler Durden's picture

The bespectacled Robin to Buffet's Batman is at it again. After casting disparaging remarks about the hard-money fanatics of the world with his "only old jews like gold" comment last year, in a brief interview on CNBC today, Charlie Munger explained how "bankers should not be trusted" adding that "they are like heroin addicts." He was reflecting on the debacle that occurred in Cypriot banks of course - but his perspective is likely useful for a broader remit of investment professionals with endless fungible free money as their backstop. So that's the pair; hard- and soft-money partakers be damned. The irony of his firm reporting dramatically better-than-expected profits on the back of a surge in insurance-selling (not at all like CDS) is not lost on us.


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Burr's 2nd Shot's picture

CDS is different than insurance because it is both issuer and counterparty risk. Hence the awesomeness of the returns.

wee-weed up's picture


hell, I thought that old coot died!

Tijuana Donkey Show's picture

He did. It's weekend at Buffet's........ Just ask Becky Quick to reanimate the corpse.

flacon's picture

I just mungered in my pants when I saw his photo! Oh lordy, and it's sticky now. 

akak's picture

And all this time I thought Mr. Magoo had been taken off the air years ago.

Precious's picture

What do people expect from this fucking lawyer.  Truth?  Integrity?  Insight?

Fuck this steaming pile of pompous, disingenuous, horse shit.  Fuck off Munger, you fucking law school piece of useless, parasitic garbage.

GetZeeGold's picture



Check his clothes....you know he's got some gold sewn into the linings.

jbvtme's picture

how'd you like that guy to be babysitting your kids?

FEDbuster's picture

Wonder if CNBC will chip in to have Warren and Charlie sent to a taxidermist and Disney for animation once they finally kick the bucket?  That way they can still do these dumb ass, propagandist interviews with the bimbo of the day long into the future.

akak's picture

You say that as if it has not already happened.

RobertMugabe's picture

What the fuck does that have to do with anything you stupid shit

Precious's picture

You seem to be another dickless wimp, perfectly willing to accept a culture dominated by charletans and non-contributing mouthpieces who's only goal is to keep you and other milktoast like you the greatest possible distance from their criminally accumulated and protected hoard.

Godisanhftbot's picture

 Yeah , but the man you mock has made billions and you're here diddling on zh.

Precious's picture

Eat shit and die you fucking moron.  I'll take my life any day over his sorry, ugly, evil ass.  I know a fucking prick like Munger when I see one.

robochess's picture

You don't know shit as shown by your comment you ignorant fuck.

Bay of Pigs's picture

And anyone defending Charlie Munger is a first clas douchebag.

TwoShortPlanks's picture

and you're just passing through, I'm guessing?

Bay of Pigs's picture

What kind of a stupid fucking asshole are you?

RobertMugabe's picture

Be carefule Godisanhftbot, you going to piss of the psychotic dip-shits of the ZH comment section. It's hilarious that call people like Charlie Munger "an idiot" while they wallow in their own shit badmouthing rich people on internet message boards. ZH has some great articles, but 90% of the people who comment on these boards reguarly are paranoid schizo's too stupid to understand modern finance

Lednbrass's picture

Looks more like the love child of Mr. Magoo and a Sleestak.

ToNYC's picture

Happy mouthpiece much needed back-scratching routine. What's not to like? Looking for light or lamp-trimming service? No needs there.

fonzannoon's picture

selling CDS. So easy, a caveman could do it.

Burr's 2nd Shot's picture

Exactly. DPCs were a great idea right up until they weren't. Think Madman Mundt, writ large.

"I'll show you the life of the mind!"

Common_Cents22's picture

if you didnt watch the video, you'd swear that was buffett himself.   They sound alike.

fonzannoon's picture

I'm 36. When I am 88 and on my deathbed I am going to beg my kid to take this roach munger out before I go.

Random_Robert's picture

I thought Munger was dead...?

No, wait, that was Soros.

Crap, no, wait- that was a mis-print by Rueters.  Or was it?

Shit, these old fuckers all need to go AWAY, already. 

fonzannoon's picture

when Munger finally drops do you think this he will want to have his gold stitched into his burial outfit?

nmewn's picture

Yeah, but Buffet will send in his "personal bodyguard" to strip it out.

otto skorzeny's picture

maybe he'll get "Romanoved" and all of his gold will tumble from his pockets to reveal his hypocrisy.

q99x2's picture

Ok then part with some of that money you old weasel and hire some agents to stop them because they'll be coming after you before long.

Urban Redneck's picture

The old-timers must be setting if he can't even remember how many billions of dollars he has invested in people he doesn't even trust, or how many tens of thousands of bankers Berkshire investments employ today.

Last year's antisemitism and comically screwing up the date of the Anschluss was way early stage in comparison to today's brain fart, where is a good death panel to cut off his meds when you need one?

miker's picture

These people just need to die.

ebworthen's picture

Uncle Fester is a skilled propagandist.

IridiumRebel's picture

You like tapes or CDS?
CDS? I bet you'd like to to CDS nuts in your mouth.

nmewn's picture

"gold is a great thing to sew onto your garments if you're a Jewish family in Vienna in 1939 but civilized people don't buy gold - they invest in productive businesses."

Wow...let that one sink in for a minute. The nazis were "civilized " by extension of thought.

Solyndra was "productive" but uncompetitive, state sponsored and amounted to waste of manpower, resources & capital. Doesn't get more fascist than that. They also threw away brand new solar panels & material once they failed at being competitive to hide their assets in foreclosure for good measure.

Likewise, rail transport is "competitive" as long as the federal regulators keeps a pipeline from being built to transport what Canada is selling openly to the world. Sounds familiar.

I wonder what this fascists take on bitcoin is ;-)

CompassionateFascist's picture

The bankers are watching bitcoin with great interest. Right now, it's an end run around their scheme. Taken over and tweaked (centralized), it is their scheme: global digital currency.

nmewn's picture

I think so too CF. They've always desired a "no compete" currency.

If everyone was in bits...and the lights went out...its the equivalent of finding the bank door chained with tanks in the parking lot.

Without the manpower ;-)

dark pools of soros's picture

yes when the 'lights go out' you think currency is the only worry? 

the compartmentalization attacks on bitcoin are endless

If you are waiting for the holy day of the lights going out you can just join the amish now and enjoy a decent life away from all of this ok?


jayman21's picture

when the lights come back on bit comes back on too...I just do not get this when the lights go out bit

nmewn's picture

It was more of a jab at Munger's business thought process and his sense of overall morality but...

When (or if) the lights go out I will not be concerned with currency, I'll have the kind that depends on absolutely nothing but its existance. When (or if) the lights go out there will also NOT BE electronic credit(s)...which is, exactly my point.

I will have real, tangible currency, something that can be touched, evaluated, appraised of its value at the point in time its needed for exchange. Bitster's will have a device with a dead battery or an unreadable flash drive telling the incredulous one holding something of value to the bitster, their gadget has some unmeasurable, unseen, value.

Again, its not money because it relies on something besides itself. Its a conduit for money. But knock yourself out mining the ether...I'm just saying what it is not.

Amagnonx's picture

'Its not money because it relies on something besides itself.'?


I wasnt aware the definition of money had been amended while I was sleeping.  BTC however does not rely on anything aprt from itself - you just need some code to identify real BTC - the same as you may need a chemical test to identify real silver or gold.

The 'chemical test' for BTC however, is built in.  

BTC is money - it is going to take a while for many people to figure that out obviously - I dont like the idea of virtual money any more than any other gold bug, but I am not so set in my ways that I have become incapable of thinking.

BTC is money - whether I like it or not, and whether you like it or not - our opinion is not relevant - something is, or is not.

nmewn's picture

Oh stop it.

"BTC however does not rely on anything aprt from itself - you just need some code to identify real BTC - the same as you may need a chemical test to identify real silver or gold."

So, if I'm standing in the middle of the Sahara (or in the jungles of Borneo) trying to make a simple transaction with one of the locals, which one of us needs to supply proof of value for value again? Where is the locals connection to "virtual money" somewhere around Timbuktu or Kuching? Am I to expect him to have a bitcoin account all set up & ready to go with his own device to complete & confirm the transaction?

Outside of the coin(s) being clearly stamped and identifiable worldwide as money, why do I need chemicals when a simple magnet will suffice?

As I've said again and again, the short term value of bitcoin is anonymous exchange among those connected. The long term hazard of it is the same thing AND identifying it as money.

Its a conduit for money.

Bunga Bunga's picture

How bankers wanna take over Bitcoin? Right, they can try to buy up all coins.