Bond King talks : Bitcoin ETFs, insane US debt crisis & Woke California

Discussion in 'Crypto Assets' started by The_Krakenite, Feb 24, 2024.

  1. Various topics... While he admits the US is pretty much fucked as is, he's still against Bitcoin as an ETF.

    IntergalacticSpace and birdman like this.
  2. Baron

    Baron ET Founder

    I enjoyed his perspective, except for the Bitcoin part. He is way off base and needs more education on the matter.
    johnarb likes this.
  3. S2007S


    It'd funny how the US claims to be the biggest and best economy on the planet, yet we have one of the highest GDP to debt ratios in the world ...34 trillion in debt and growing every single day by billions.... 1 trillion++ in credit card consumer debt. Over 1 trillion in student loan debt and a debt ceiling that has been raised countless times, that everytime we bump to that debt threshold they issue warnings that if not raised the economy will fall into the red and a deep dark recession as the government would have to shut down sectors of the economy.....the same exact scare tactic everytime is used to raise the debt ceiling over and over again.... and insread of trying to fix the problem they just add to it.....

    So yes there is a debt crisis that will never ever be resolved because at this point in time the debt is just too out of control to be controlled. In fact the only way out is to keep creating more debt.
    You can take everything you learned about economics 101 and literally throw it out as it doesn't apply to anything set forth in this world today.
    The_Krakenite and johnarb like this.
  4. nitrene


    Gundlach is smarter than anyone on the Fed. That's for sure. He understands rates better than one except maybe Bill Gross but he doesn't have a good record of predicting where risk assets go. Like all bond analysts he is a permabear on equity much like Value Fund Managers who believe all stocks are overpriced and just wait for a crash to buy in.
  5. SunTrader


    WTF The Fed along with MSM cheerleading for higher inflation ... while inflation is obviously heading higher.

    Soooooooooooooo they are getting their wish huh?

    Doublespeak much.
    TrailerParkTed likes this.
  6. A re-education camp, perhaps?
  7. Baron

    Baron ET Founder

    Yeah, he is a smart guy for sure but he needs to spend some more time on BTC to fully understand what's going on. It's not an easy job for him because he's coming from 40 years of experience in the fiat system, which unfortunately for him, is a barrier to fully grasping the true nature and revolutionary significance of Bitcoin in our financial system.

    In the video, he questions the idea of Bitcoin being an anonymous money transfer system at its core and then says, "So why would anyone want to buy Bitcoin through a regulated exchange via an ETF?" implying that buying through an exchange pretty much kills the entire anonymous underpinning of Bitcoin, and thus exposes the buyer to be tracked.

    But it's a dumb argument for two reasons:

    1. He doesn't understand that institutional buyers couldn't just outright purchase BTC without an ETF in place because their corporate charters prohibited that activity. So for them, a BTC ETF is literally the gateway to accumulating BTC as a portion of their investment portfolios.

    2. Not everybody cares about privacy in the way he's assuming. Any hedge fund manager is fully aware his investment activities are tracked and monitored, so why would he care that his crypto investments could be tracked? If you're buying BTC in an ethical manner with no ties to criminal activity, do you really care if you can be tracked? I make credit card purchases all the time but I"m not shaking in my boots because someone viewed my statement and discoverd that I spent over $100 at Chic-fil-A last month. I'm not dealing crack. I'm buying chicken nuggets. See what I mean?

    But he seems to think that being tracked via BTC ETF exposure contradicts the idea of Bitcoin itself, and therefore invalidates the concept of buying BTC in the first place, and I can't understand that logic at all.
    Last edited: Feb 26, 2024
    SunTrader, johnarb and jbusse like this.
  8. Pekelo


    This myth has been refuted 10+ years ago. I understand that this claim is part of the original selling points, but still inaccurate.