Warren Buffett's rare warning when he said "Never bet against America": "Fiscal idiocy" will destroy the currency.

Yesterday, in his latest annual shareholder letter, Buffet stopped his usual optimistic attitude and patriotic propaganda, instead warning that America's progress is not always beautiful, and cautioning against "charlatans and promoters" who will "exploit those who trust them wrongly." Buffet wrote: "If 'financial idiocy' prevails, the value of the paper currency will evaporate... In some countries, this reckless practice has become a habit, and in our country's brief history, America has also come close to this edge, fixed rate bonds cannot prevent monetary control." This is consistent with the views of new bond king Jeffrey Gundlach and Bridgewater Associates founder Dalio. Prior to this, on February 11th, Gundlach warned that: The current rise in interest rates, overvaluation in the market, and massive government debt could trigger a major crisis. While Dalio called out to Trump, saying: If we don't cut the debt soon, the US economy will have a heart attack. Yesterday, Berkshire Hathaway released its fourth quarter financial report, with a significant increase in insurance profits driving operating income up by 71%, continuing to reduce stock holdings while cash reserves reached a record high of $334.2 billion, almost double compared to the same period last year, accounting for 53% of the company's net assets. A year ago, Berkshire's funds in stocks were almost twice that of US Treasury bonds. In addition, Buffet also mentioned the possibility of "gradually" increasing his stake in Japan's five largest trading companies. This article is reproduced from "Wall Street News", author: Jiang Zihan; GMTEight Editor: Chen Xiaoyi.