Berkshire Hathaway Vice Chairman Charlie Munger spoke highly of Elon Musk's electric car company Tesla, Inc. in an interview on Tuesday, Nov. 15, calling it a small miracle of the American auto industry.

In addition, he once again harshly criticizes digital money and its followers, and Munger is relentless in his criticism of what the Fed is doing.

Munger: Tesla, Inc. made a real contribution to human civilization

Speaking of Tesla, Inc., Munger said:

Of course I was surprised that Tesla, Inc. performed so well. I wouldn't equate Tesla, Inc. with Bitcoin. Tesla, Inc. made some real contributions to human civilization, and Elon Musk did some good things that no one else could do.

We haven't had a successful new car company for a long time. What Tesla, Inc. has done in the automobile industry is a small miracle.

In 2009, Munger had lunch with Musk. During the dinner, Munger told Musk that he was not optimistic about Tesla, Inc. and believed that Tesla, Inc. would fail from every angle. Musk later recalled the incident and said he was very sad at the time, but he felt that there was still no reason not to try anyway.

"the United States does not need a currency that is good for the kidnappers."

However, Munger's attitude to digital currency is very different.

Munger said sarcastically about the recent bankruptcy of FTX:

It is painful to see those respectable people help such things exist in their own country. This is a very, very bad thing, and this country does not need a currency that is good for the kidnappers.

Because of the encrypted nature of digital currency, many critics of digital currency believe that digital currency may be used by kidnappers, money laundering criminals and terrorists.

For those well-known investors and celebrities, Munger angrily attacked:

Some people feel that they have to participate in every hot deal, which is completely crazy. They don't care if it's a crime or bitcoin. Reputation is a very useful thing, and it is a huge mistake to ruin your reputation in order to help promote these scams.

As a long-time critic of digital currency, Munger also used the FTX bankruptcy to express his attitude again:

(in the currency circle) you can see a lot of delusions, one is fraud, the other is fantasy, these two are a very bad combination.

Munger added that it was "crazy" to think that someone could forge a new token overnight that would turn a 12-year-old into a billionaire.

Munger also said that the novelty of digital currency means that regulators are not aware of its dangers. He criticized the authorities for not banning digital money as soon as possible.

Criticize the Fed for its incompetence

Speaking of the central bank, Munger said:

Basically, I like the existence of central banks.

Munger criticized the Fed, which has raised interest rates aggressively so far this year:

The world needs competent central banks, but compared with the Bank of Japan, the Fed is a mouse that can hardly do anything.

If we were in the same kind of trouble as Japan, of course we would do the same thing.

In recent years, the Bank of Japan has cut interest rates to negative rates to stimulate economic growth. But contrary to the pace of the BoJ, central banks in most advanced economies have taken big steps to raise interest rates since the spring in an effort to lower inflation.