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Are we heading into a crypto winter? Kraken's Jesse Powell weighs in, and responds to his own prediction that Bitcoin would hit $100k before the end of the year. With @emilychangtv https://t.co/jQ2TBVqDb9 pic.twitter.com/DSGEtVUVvH
— Bloomberg TV (@BloombergTV) December 15, 2021
Let’s be fair here (we always try to be fair): it’s not like the dude doesn’t have a dog in the fight.
Literally: “pump my assets because you’re going to starve to death if you don’t.”
Also to be fair: I think Jesse is a good guy, especially by crypto industry standards.
Newsworthy statements, nonetheless.
Why milk though?
RT:
Americans should stock up on essentials and prepay their bills before the US dollar crashes in 2022, Jesse Powell, chief executive of Kraken crypto exchange, has predicted. He also sees a decline in the value of Bitcoin.
In a TV interview with Blomberg, Powell said he was wondering where the bottom was with regard to the value of the dollar, citing the soaring inflation and interest rates going negative.
He suggested that people should prepay their healthcare and tuition fees and stock up on the basics.
“I’m going to say the dollar is going to zero. You should start stocking up on gasoline and milk right now.”
He added that investors should also take on as much dollar debt as they can because “there will be a jubilee at some point.”
It’s not just the US dollar that’s going to take a beating – Bitcoin will, too. According to Powell, its price is going to fall dramatically to below $40,000 a coin, which some investors see as a buying opportunity.
Ultimately, the dollar is going to zero, no matter what.
There is no other possible outcome.
Literally. No other possible outcome.
They can’t pay back the debt, they can’t let anyone default, so literally the only option is to default through inflation.
However, whereas the entire government often appears incompetent, the finance people really aren’t incompetent (speaking of the ones who don’t work directly for the government and are the ones actually running this). That whole story is summed up from this February 7 tweet by (Jew) Jennifer Rubin praising (Jew) Janet Yellen for rebuffing (Jew) Larry Summers on his inflation predictions.
she was excessively polite about Larry Summer's. The notion we have an actual threat of inflation is ludicrous. I suspect many in the WH laughed when they read that argument. https://t.co/Haa8APHb5w via @politico
— Jennifer 'pro-voting' Rubin (@JRubinBlogger) February 7, 2021
(To be clear: Rubin is a Jewmocrat Jewnalist shill, Yellen is a Jewmocrat Party hack, Summers is an old school Warburg style money Jew. The Summers types are the ones actually managing this on the ground, which is why finance is the only aspect of American society that is being run according to plan.)
The monetization of assets is working really, really well. It can’t go on forever, obviously, and we’re already seeing absurd inflation, but I don’t think the dollar is going to go to zero until they want it to.
The funny part is: pumping crypto actually reduces inflation through this “buy and hold” model that takes all of these dollars out of circulation. That’s one of several reasons the government continues to refuse to regulate it. If the crypto market collapsed tomorrow, you’d then have two trillion dollars floating around you’d have to shove into Tesla stock or whatever. The Democrat financial agenda would actually benefit by pumping up crypto to $10 trillion or whatever, just as they benefit from pumping up housing prices.
Real estate prices are only slightly less speculative and abstract than crypto or TSLA. Dumping money anywhere that it can just stay resting helps slow the collapse of the dollar.
As far as Bitcoin going below $40,000 – I’ve been saying I wouldn’t be shocked if it dropped below $20,000 since the Elon sabotage. After the last pump, the current consolidation above $45,000, and the general political and economic situation, I think that’s less likely now – but still possible.
Don’t buy Bitcoin if you’re going to definitely need the money back any time soon, I’d say – if I ever gave economic advice, which I don’t.
If I had to just make a wild guess, I’d say we’re going to have a rough four weeks, and then some weird shit will get serious, and we’ll see a pump and new ATH sometime in first quarter. But I sure as hell wouldn’t bet Bitcoin on that wild guess.
I probably would bet money we’ll beat $100,000 in the next 12 months. But I wouldn’t bet a lot of money.
