Is Warren Buffett aware that the US dollar is losing 99.99% of its value? What did Michael Saylor say about this?
US Dollar is a powerful currency. It is a currency of global trade and has managed to retain its significance due to the economic and political stability of the US. This may not last long, according to MicroStrategy Chairman and co-founder Michael Saylor. In an episode of PBD Podcast hosted by Patrick Bet-David, he attributed the growing inflation and cryptocurrencies as the reasons why the US Dollar will lose its value. Saylor said that investors like Warren Buffett were aware of these realities. He compared the greenbacks to the Argentinian Peso. It is still the strongest currency.
Peso and Dollar:
Saylor added that the only difference between the two currencies is that the holder of Peso could lose this family fortune in 20 years while it takes about 90 years to lose one’s fortune if it is held in the US dollar.
He provided the example of his own house in Miami which was valued at $100,000 in 1930. It was valued at $46 million, a few years ago. He added that the house is on its way to becoming valued at $100 million which meant that the US Dollar would have lost 99.99% of its value in 100 years.
Money in the bank and inflation:
The value of a currency can also be eroded by continuous inflation. The current rate of inflation in the US is about 3-4%. If an investor was to park his savings in a bank, they would lose 15% of its value every year due to inflation in the US. The dollar will be weakened considerably due to persistently high rates of inflation.
Cryptocurrencies:
While the US Dollar and its production
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