The Importance of a World Currency

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Buffett or Munger just said it's there's nothing that can replace it. There's no other currency that looks better. No one trusts China and they're not going to make that the world currency. And then what else is there? The euro is weaker than the dollar - you're done. So unless somebody invents a new currency that's completely trustworthy, nobody will believe it.

As the shock waves dissipate following the 2023 Berkshire Hathaway shareholders meeting, they nevertheless continue to be felt as we come back for a third week of analysis on one of the investing world’s most significant yearly events.

This year’s meeting took place in the midst of a tumultuous period of post-pandemic supply chain disruptions, worldwide inflation, and the looming threat of the next big recession.

In the final episode of this three-parter, Phil and Danielle focus on the role of currency in the current economic crises facing the markets. Listen in as they break down the comments of Buffett and Munger and offer their own insights on the topic.

For more pearls of wisdom from the Oracle of Omaha, get your free copy of the Warren Buffett Book of Quotes: https://bit.ly/3OEPXjL

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