In 2010, the Federal Reserve printed $1.6 trillion of $100 bills to stimulate the economy. The money is still under people's mattresses; they don't know it's not having an impact. But when you go to the actual pile of money, which is a, uh, called the M2 supply, that includes all the digital currency, there's just way more cash floating around. And so now all this excess cash potentially can come floating out into the economy in a way that the Fed didn't want or expect.
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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