Bitcoin is digital gold: Mark Yusko


NATIONALIST AND POPULIST MOVEMENTS. IT’S EVERYWHERE. MARIA: HERE WE ARE WITH ALL THE METRICS YOU’RE BRINGING UP, THEY DO NOT SUPPORT A FEDERAL RESERVE THAT’S GOING TO RAISE INTEREST RATES 4 TIMES THIS YEAR AND THAT’S WHY THE PRESIDENT HAS BEEN SO UPSET ABOUT THIS, JANET YELLEN FORMER CHAIRMAN OF THE FED IS SPEAKING OUT AGAINST THE PRESIDENT’S COMMENTS ABOUT CENTRAL BANK, THEY ARE COUNTERPRODUCTIVE, DON’T CALL THE FED CRAZY AND LOCO, IT’S COUNTERPRODUCTIVE AND YET YOU ARE SAYING THEY ARE CRAZY?>>I DON’T THINK THEY ARE CRAZY. I THINK THE FED HAS BEEN BEHIND THE CURVE FOR A LONG TIME, I SAID A COUPLE OF YEARS AGO THAT THEY WERE FAR BEHIND — 13 WHEN THE ECONOMY STARTED TO RECOVER THEY SHOULD HAVE RAISED RATES 3 TO 4% RANGE. SHORT-TERM INTEREST RATES FOR 100 YEARS HAVE BEEN EQUAL TO NOMINAL GDP. NOMINAL GDP TODAY IS SOMEWHERE 4 OR 5%. SHORT-TERM RATE SHOULD BE THERE. WHAT’S GOING TO TILT INTO RECESSION, I THINK IT’S INVERTED YIELD CURVE, SHORT-TERM RATES SHOULD KEEP COMING UP. HAVE NICE CLEANSING RECESSION, THERE’S A LOT OF ZOMBIE COMPANIES, 14% OF COMPANIES IN THE S&P COULDN’T PAY THEIR DEBT SERVICE WITH THEIR NEXT 3 YEARS, THOSE COMPANIES NEED TO GO AWAY AND THE STRONG COMPANY NEEDS TO SURVIVE. DAGEN: SO FAR IF PEOPLE ARE SELLING LONG-TERM TREASURIES THAT’S A SIGN THAT THE ECONOMY LOOKS OKAY DOES IT NOT? WE HAVE SEEN STABILITY IN THE YIELD CURVE AND IT’S NOT VERY FLAT?>>IT’S VERY FLAT. DAGEN: IT’S NOT THE FLATTEST IT HAS BEEN IN YEARS, LINDSEY?>>YEAH, IT IS. IT CAME OFF A COUPLE BASIS POINTS. IT’S ALMOST INVERTED. THE REASON 30-YEAR IS NOT RISING AS MUCH AS SHORT-TERM IS PEOPLE BELIEVE THAT THE FED IS MAKING POLICY ERROR, THAT’S WHAT THE MARKET IS TELLING THE FED. IF IT DOES INVERT THAT WOULD BE THE MARKET SAYING WE DON’T BELIEVE THE GROWTH IS THERE. JON: KEEP RAISING WHEN INFLATION AT 2% — MARIA: I THINK WE ALL AGREE THE FED SHOULDN’T KEEP RAISING.>>I LOOK AT IT, I DON’T THINK THAT CPI IS GOOD MEASURE OF INFLATION. THERE’S A LOT OF COST THAT WE SPEND MONEY ON THAT’S SIGNIFICANTLY HIGHER THAN THAT. I THINK THAT NOMINAL INTEREST RATES ARE A LITTLE BIT TOO LOW. I DON’T THINK THEY SHOULD BE 5 OR 6%, THEY COULD BE HIGHER. THE OTHER ISSUE IS WHEN YOU’RE LATE IN THE CYCLE YOU NEED TO HAVE HIGHER RATE SO WHEN THE CYCLE TURNS AND THINGS TARGET TO GET NEGATIVE THE FED CAN CUT AGAIN. THEY REALLY ARE OUT OF TOOLS IF WE DO GO INTO A RECESSION. JON: YOU DON’T WANT TO RAISE RATES SO MUCH THAT YOU CAUSE RECESSION THAT YOU HAVE THE ABILITY TO FIGHT BECAUSE YOU’VE RAISED RATES SO MUCH?>>I MEAN A BIG BELIEVER THAT RECESSION ARE PART OF CYCLE, WE SHOULDN’T ATTEMPT TO ABOLISH THEM IN THE FIRST PLACE. I WOULD HAVE THOUGHT THAT THE LOCO PART OF THE FED WAS KEEPING ZERO INTEREST RATES. MARIA: THAT WAS UP THERE WITH LOCO, CRYPTO CURRENCY?>>WE THINK EQUITY MARKETS ARE THE BEGINNINGS OF BEAR MARKET, CRYPTO MARKETS, BEGINNING OF BULL MARKET. I’M A BIG BELIEVER THAT SOUND MONEY, RIGHT, WHAT NONFIAT CURRENCY, CURRENCY ALL AROUND THE WORLD HAVE STARTED TO EXPLODE. LOOK WHAT HAPPENED AT IN ZIMBABWE AND VENEZUELA. WHEN THERE’S SO MUCH DEBT THEY CAN’T SUPPORT DEBT. HUGE, DAGEN, THAT’S A HUGE DEVELOPMENT AND WHAT IT SAYS THE GREAT WALL OF MONEY, INVESTORS ARE COMING FOR THIS ASSET AND IT IS THE FIRST ALTERNATIVE ASSET REALLY IN MY CAREER THAT DELIVERS ON THE PROMISE. BETTER RETURNS. LOVE BITCOIN. WE THINK THAT’S DIGITAL GOLD ULTIMATELY BE RESERVE CURRENCY, A, NOT B. LIKE THE WWW DOT OF INTERNET OF VALUE OR TRUST NET. INTERNET TO MOBILE NET AND NOW THE TRUST NET.

27 thoughts on “Bitcoin is digital gold: Mark Yusko”

  1. Dotcom, you were late when your cab driver told you about it; crypto, you will be late when your broker tells you about it. Dotcom was top-down, crypto is bottom-up. Not enough bitcoin for every millionaire globally to own 1 each.

  2. ending the fed should be what we are talking about..When I a say end I mean trial every share holder and send them to the gallows. why? Every share holder is guilty of murder.https://www.youtube.com/watch?v=5hfEBupAeo4&t=154s

  3. Bitcoin is worthless don't buy it!! Look at this piece of shit talking about companies and people's jobs and life's like they're just statistics fukin wanker!!

  4. omg "wen you issue to much dept currencies have to devalue" umm 2009 obama 4.5 trillion issued now trump with 4.6 yet there is f-all inflation

  5. Bitcoin won't exist in 10 years. Governments and Banks will come up with a universal digital currency. Bitcoin is the wild west and too associated with the Dark Web, meaning theft, murder for hire, and funding illegal activity.

  6. Bitcoin and cryptocurrency is the future in a global market with 5g, not sure why old people refuse to see that. You are living in the past if you think money backed up by nothing is the future.

    Not not to mention, limitless since they just print more if they need it.

  7. Gold can be made artificially now, the technology is real. So Gold is not limited in quantity, Bitcoin is limited to 21 million, it is impossible to create more or to fake it… So Gold is bs if you count the future not just the past, gold will worth sht when the technology to create it becomes cheap… Bitcoin will worth more, much more… in the future of course

  8. Btc is the best security of assets for people under governments that have become dictatorship. Look at any dictatorship now and in the past and they all devalue their currency, that may even be what defines them as a dictatorship. Examples today, Venezuela, Iran, China, only recently Turkey told its citizens to trade in gold to boost their currency. Btc will continue to be a security of assets for people to secure their wealth from dictatorship now and even more in the future. Opposed to traditional stores of value, jewelry, art, fiat currency, the wealth can be stolen if the society breaks down. In contrast, BTC will have intrinsic value so long as the infrastructure of the internet is still intact. BTC gives power to the individual.

  9. Don't invest in currancy that does not exist. I like the ol fashioned physical dollar I like money that I can hold in my hand.

  10. You can only have reccession after a big boom. Reccessions are corrections. There wasnt a big boom under Obama. Theres a big Boom under Trump, so there will be reccession in a few years. Its not a big deal.

  11. Recession is a natural part of the business cycle ??? What an idiot ))) Has he heard of a fractional reserve and printing money out of thin air ??? ))) Maybe a 22 trillion debt is a normal and natural part of the economy ??? ))))

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