Berkshire Hathway's Charlie Munger calls US-China tensions 'massively stupid,' likens cryptocurrency to 'venereal disease'

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Charlie Munger, the vice-chariman of Berkshire Hathway, Inc., speaks at a financial conference. | Twitter/New York Post

Charlie Munger hopes to see a better relationship between the United States and China and disagrees with the increasing influence of cryptocurrency.

Munger is the vice-chairman of Warren Buffet's company Berkshire Hathway, Inc., and since 1978, has been "a longtime bull on China," according to Reuters.

"We wish that China and the United States got along better," Munger said, Reuters reported. "Think about how massively stupid both China and the United States have been to allow the existing tensions to rise... They should like us, and we should like them."

Munger also shared that cryptocurrency should have been banned from the start.

"I'm proud of the fact that I avoided it; it's like some venereal disease," Munger said.  "I just regard it as beneath contempt. Some people think it's modernity, and they welcome a currency that's so useful in extortions and kidnappings [and] tax evasion."

Munger, a former real estate attorney, served as chairman of Wesco Financial Corporation for nearly 30 years, according to Wikipedia. He is currently chairman of the Daily Journal Corporation and director of Costco Wholesale Corporation. Munger was born and raised in Omaha, Nebraska, and worked at Buffet's grandfather's grocery store, Buffet & Son.

Munger provided oversight for Berkshire's investment in BYD Company, a Chinese manufacturer, and acquired a stake in Alibaba Group Holding Limited, a Chinese multinational technology company, according to Reuters.