Venereal diseases are many things but not fun at all. If you never caught one in your life you don’t need to worry about receiving sound advice on the matter. Charles Munger the 98-year-old star investor and wingman of Warren Buffett got you covered.

Why is inflation one of the biggest problems we are facing right now? And why is Bitcoin not the solution to the problem? Here is what Munger had to say.

We’re sooo early, but Charles is still late

Munger and Buffett are both known to be strong critics of Bitcoin and blockchain technology. Recently, during an interview, Munger said that he is glad that he never got involved in crypto and compared the whole idea to venereal disease. He also brought up the oldest and provably wrong prejudice against crypto.

According to Munger, cryptocurrencies are only good for money laundering, tax evasion, and other crimes. The fact that most crime is done with cash and only a fraction of crypto transactions is considered to be illicit doesn’t seem to bother him at all.

It is also worth noting that Berkshire Hathaway bought $1 billion in Nubank stock and therefore benefits indirectly from the invention of Bitcoin and other cryptos.

Inflation threatens Democracy

Despite the fact that Munger still insists that cryptos are dangerous he admitted that inflation is probably one of the biggest threats to modern-day civilization and western democracies. In fact, in his opinion, the threat level of inflation ranks right behind a nuclear war.

Even more surprising is that Munger expects all fiat currencies to go to zero within the next 100 years. While we and most of our readers won’t live that long to see that day most of us are trying to build wealth for our families and children. If we believe in what Munger had to say, this is something that cannot be ignored.

Munger also gave a history lesson reminding everybody that it was inflation that led to an economic crisis and the fall of the Weimar Republic and eventually the rise of Adolf Hitler.

Can Bitcoin fix this?

Inflation is a problem and maybe all fiat will go to zero. Right now, we are far away from drastic scenarios where the world ends in chaos. Still, the question remains if Bitcoin can be effective wealth protection.

If inflation is going to persist, then BTC is the scarcest asset in the world that has no match and could be the safe haven everybody is looking for. On the other hand, it remains to be seen if the Fed will find a way to keep a balance between ending the inflation and at the same time supporting the markets.