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American International Group, Inc. NYSE: AIG, American International Group, Inc. (NYSE: AIG) also known as AIG, is a multinational insurance corporation with . 
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Max Keiser - Bitcoin, Bernanke & Buffett | London Real FREE Trading Webinar Max Keiser meets London Real Max Keiser of Russia Today drops by to explain ...
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The use of derivatives can result in large losses because of the use of leverage, or borrowing. Derivatives allow investors to earn large returns from small ...
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Although Warren Buffet and Peter Schiff are called out by name in the title of this article, this piece is really aimed at anyone who claims there is no fundamental value to a bitcoin. These two popular investors disagree on gold and many aspects of the economy, but the one thing they do agree on is the statement that bitcoins have no real value. The crux of their respective arguments comes down to the idea that using Bitcoin as a payment network does not necessarily increase the value of a bitcoin. Money goes into the Bitcoin network and then leaves it on the other side, so these bitcoins should be viewed as nothing more than checks or money orders.
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Legg Mason's Bill Miller may have lost 20 percent of his investment in bitcoin, but he's still bullish on its potential. The money manager told CNBC on Thursday he bought into the cryptocurrency after its biggest exchange, Mt.Gox, collapsed earlier this year.
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But that's essentially what venture capitalist Marc Andreessen did this week at a virtual currency conference when he said, in reference to Warren Buffet's advice that investors stay away from Bitcoin, that "The historical track record of old white men crapping on new technology they don't understand is at, I think, 100%." Andreessen was responding to an appearance on CNBC where Buffett opined:
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Earlier this month, famed dealmaker Warren Buffett warned investors to stay away from Bitcoin, calling it “a mirage,” saying that, while it may be a better way of transmitting money, the “idea that it has some huge intrinsic value is just a joke.” While interviewing Bitcoin investor Marc Andreessen at a CoinSummit “fireside chat” (minus the fire) Tuesday, I asked him to respond to Buffett. He supplied the missing flames.
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The financial wizard was crystal-clear Friday about his feelings toward the virtual currency. “Stay away from it,” he told CNBC onSquawk Box. “It’s a mirage, basically.”
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Legendary investor Warren Buffett, CEO of Berkshire Hathaway, says another financial crisis will strike "someday," but he doesn't think it will be soon, given that a catastrophe just hit in 2008.
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Money market funds held a lot of Lehman paper. It happened overnight, 30+ million Americans who believed money markets were safe, and then Lehman fails. This caused a major money market fund to “break the buck” and lose value. It became a great silent electronic run on money markets. There was $3 1/2 trillion in money market funds and $175 billion of funds flowed out in the first three days after Lehman failed. All money market funds held commercial paper. Companies like GE had a lot of commercial paper. After this, American industry literally stopped. George Bush said, “If money doesn’t loosen up, this sucker will go down” – I believe this was the greatest economic statement of all time.
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Curated by jean lievens
Economist, specialized in political economy and peer-to-peer dynamics; core member of the P2P Foundation
Other Topics
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Not TINA (There Is No Alternative) but TAPAS: THERE ARE PLENTY OF ALTERNATIVES
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