Coin World News Report:
This billionaire investor stated in an interview with CNBC on October 22nd that “all roads lead to inflation”; he further added that he is bullish on gold, bullish on Bitcoin, and believes that commodities are “severely undervalued”.
“I may have a basket of gold, Bitcoin, commodities, and Nasdaq, and my fixed income is zero.”
“I am bullish on gold, I am bullish on Bitcoin, and I think the holdings of commodities are ridiculously low, so I am bullish on commodities,” he said.
@ptj_official
“I may have a basket of gold, Bitcoin, commodities, and Nasdaq, and my fixed income is zero.”
pic.twitter.com/i152rZFlbs
–Squawk Box (@SquawkCNBC)
October 22, 2024
Store of Value Assets Reign Supreme
Bitcoin trader Anthony Pompliano
commented
jokingly after learning the truth, “Maybe not much!”
“Paul Tudor Jones is persuasive in being bullish on Bitcoin and gold,” the PiWhales account replied to its 514,000 X followers.
“Inflation as a solution to the debt problem could make decentralized assets like Bitcoin more attractive,” it added.
Bitcoin fell below 6.5% of its peak price on October 21st but has since retraced to around $67,000 in the past few days.
Gold prices have risen by 33% this year, breaking the $2,750 mark for the first time in history. Meanwhile, silver prices are currently at their highest level since 2012, with an increase of over 46% in 2024.
Jones
explained
inflation,
“Whatever the central bank does, this will happen because the country needs to address the issue of the debt-to-GDP ratio.”
“If we attempt to stabilize the debt-to-GDP ratio, we want to implement the most moderate monetary policy without burdening citizens with excessive inflation.”
Currently, the total public debt of the United States accounts for 120% of its GDP,
according to
the Federal Reserve Bank of St. Louis.
A high debt-to-GDP ratio limits a country’s ability to cope with economic shocks, increases the risk of debt default, and leads to rising interest rates. It can also create a vicious cycle of debt, inflation, and declining economic growth potential, ultimately threatening the long-term economic stability of the country.
The U.S. national debt currently stands at $35.7 trillion and is growing exponentially.
It took the United States 221 years to create the first $12 trillion in national debt.
In the past five years, we have added another $12 trillion in debt.
Crazy.
pic.twitter.com/Y4CmOGI1bH
–Anthony Pompliano (@APompliano)
October 22, 2024
Central Banks Disagree
However, central banks and monetary policy masters around the world paint a different picture. In the October 22nd World Economic Outlook forecast, the International Monetary Fund
claimed
that “the fight against inflation has essentially been won.”
Global inflation rates soared during the COVID-19 lockdown, but have since declined. However, in most countries, the actual inflation rate continues to rise, measured by the increasing costs of fuel, food, energy, and utilities for ordinary consumers.
Paul Tudor Jones
warned of inflation
in 2022, predicting a rise in Bitcoin and Ethereum prices.
