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Warren Buffett's annual letter to shareholders is proof that the titan of investment is a "fraud and a quack," said renegade TV presenter Max Keizer. But the loss of Buffett could be a gain for Bitcoin.
Letter from Buffett, addressed each year to the shareholders of his company Berkshire Hathaway, "Expose" the pivot as "A flawless fraud and a charlatan that depends entirely on taxpayer bailouts and accounting tips", S & C exclaimed Saturday.
#Bitcoin Warren Buffett exposes in his annual letter as an absolute fraud and charlatan who relies entirely on bailouts and taxpayer accounting tips.
– Max Keizer, poet tweet. (@ maxkeiser) February 23, 2019
"The Buffett fraud is countless and goes back several decades," Keizer told RT that Buffett's failure to end his years of malfeasance at Wells Fargo, partly owned by Berkshire Hathaway, was cited.
His letter also revealed that Berkshire Hathaway had started last year buying back shares of his own companies. Redemptions allow a company to inflate its share price and are generally considered a sign that the shares of a company are undervalued. Buybacks were illegal and considered a form of market manipulation until the Securities and Exchange Commission gave the go-ahead in the early 1980s.
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"It's pure fraud" Keizer continued. "Its sole purpose is to commit accounting fraud to the benefit of insiders."
Buffett's letter slammed the gold ridiculing the "Magic metal" as a bad choice of investment. "The real story," said Keizer, "Is putting the gold in context and understanding that Buffett's so-called success rests entirely on a warm relationship with Wall Street and the Fed that gives it virtually unlimited access to a zero-per cent interest-bearing credit. "
For years, Buffett has publicly ridiculed crypto-currencies like Bitcoin, calling it "death to rats" and "An asset that does not create anything."
"He's right, and there's no bigger rat than Warren Buffett," Keizer lands on the Wall Street mogul. "The world is waking up. Buffett Ponzi schemes are being revealed and the masses are turning to hard money like bitcoin and gold. "
The price of bitcoin has risen by nearly $ 3,500 since its peak of nearly $ 20,000 in 2017, but it has risen more than $ 100 after the publication of his letter by Buffet. "I'm maintaining my price forecast I made for the first time on the Keizer report in 2011, when Bitcoin was worth 1 dollar," Keizer has concluded. "We will see $ 100,000 for Bitcoin, because it engulfs the overabundance of global supply of worthless fiduciary money; marking the end of charlatans like Warren Buffett. "
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