Berkshire Hathaway Inc (BRK.A)

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“Buffett’s frauds are innumerable and date back decades,” Keiser stated, citing Buffett’s failure to rein in years of corporate malpractice at Wells Fargo, partly owned by Berkshire Hathaway.

His letter also revealed that Berkshire Hathaway began buying back stock in its own companies last year. Buybacks allow a company to inflate its own stock price, and are generally seen as a sign a company’s stock is undervalued. Buybacks were illegal and considered a form of market manipulation until the Securities and Exchange Commission gave the practice the green light in the early 1980s.

“It’s pure fraud,” Keiser continued. “Its sole purpose is to commit accounting fraud for the benefit of insiders.”

Buffett’s letter went on to slam gold, ridiculing the “magical metal” as a poor investment choice. “The real story,” Keiser said, “is to put gold in context and understand that Buffett’s so-called success is entirely driven by a cozy relationship with Wall Street and the Fed that gives him virtually unlimited access to credit carrying zero percent interest.”

For years, Buffett has publicly ridiculed cryptocurrencies like bitcoin, calling it “rat poison” and “an asset that creates nothing.”

“He is right. And there is no bigger rat than Warren Buffett,” Keiser unloaded on the Wall Street tycoon. “The world is waking up. The Ponzi schemes of Buffett are being revealed and the masses are moving to hard money like bitcoin and gold.”