Dr. Doom Roubini says those who favor crypto are 'idiot crooks'
Nouriel Roubini, known as Dr. Doom for his accurate prediction of the mortgage market crisis in 2008-2009, is a famous crypto critic. He has now taken to Twitter to share a word of support for Charlie Munger — the right-hand man of world-famous investor and billionaire Warren Buffett — in his recent anti-crypto statements.supporters during his recent talk on CNBC.
When asked if there are any good counterarguments to his position, he said that there cannot be any and called those who oppose his position on crypto"idiots." He believes it is ridiculous that anyone would buy this stuff, though he admitted that people liking gambling is understandable. Munger seems to believe in the opposite of crypto-fiat government currencies. According to him, not a single thing on earth has done as much more good for people as national currencies. Currencies, he says, have played a crucial role in advancing us from apes to our modern successful human civilization.
In his view, then, attempting to replace fiat currencies with crypto is like trying to replace the national air, and it is not"just stupid," it is"massively stupid," and allowing it is "anti-social." Munger reckons crypto to be dangerous and stated that the governments were wrong to allow crypto. He criticized the U.S. government for permitting Bitcoin and praised the leader of China for banning crypto from the country.
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