Buffet is stuck between a rock & a hard place. He doesn't believe in assets that don't produce a fiat income stream, so won't do gold or crypto. Even less love for negative interest so growing sour on bonds. He doesn't have any place left to put money that fits his philosophy.https://twitter.com/NickSzabo4/status/1167973272610230272 …
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And for the record, it bugs me in the "why are they doing that?" sense that Apple has borrowed and/or continues to borrow 100 billion dollars for the privilege of sitting on a 200 billion dollar stockpile instead of a 100 billion dollar one.
Their interest rate differential is very small, compared to the big differential a small business faces and the huge one somebody charging a Mac to their credit card faces. The Cantillon effect at work:https://twitter.com/NickSzabo4/status/1031232173561368576 …
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1/2 Before my morning coffee and bagel, so, stupid, but for purposes of brainstorming I'll say it: if the differential were negative they could actually be making money dong nothing in the current state.
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2/2 ("Bless me, father, for I have sinned") Hacker News this morning has a thread on the Apple Card. It's everything wrong with the Apple Card and everything wrong with Hacker News all compressed together in one hyperlink. https://news.ycombinator.com/item?id=20841896 …
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...and I forgot to say "Behold the Future Of Money!" when I posted that.
End of conversation
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