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It’s The “Most Honest Market We Have” – Peter Thiel Warns Bitcoin Exposes Our Current “Crisis Moment”
It’s The “Most Honest Market We Have” – Peter Thiel Warns Bitcoin Exposes Our Current “Crisis Moment”
Outspoken billionaire Peter Thiel said this week at at the National Conservatism Conference that the high price of bitcoin is an indicator of U.S. inflation, which has also recently touched a 13-year high.
“You know, $60,000 bitcoin, I’m not sure that one should aggressively buy,” Thiel said, according to Bloomberg.
“But surely what it is telling us is that we are having a crisis moment.”
These comments come a week after the tech visionary – who recently opined on the origins of bitcoin – offered an even more ominous projection:
“[Bitcoin]’s the canary in a coal mine. It’s the most honest market we have in the country and it’s telling us that this old regime is about to explode.”
Thiel also slammed The Fed, claiming that they were not acknowledging the seriousness of the problem, and mentioned that the prices were not coming down any time soon, adding that Powell and his pals are in a state of “epistemic closure,” meaning close-mindedness, and they were of the view that printing money to resolve market issues will not impact inflation.
Finally, Thiel reiterated the fact that he wished he had bought more bitcoin, adding now that he thinks inflation is here to stay; something that Goldman has recently noted as a driver of upside from crypto…
Which fits with a recent report from JPMorgan analysts who noted that “we believe the perception of bitcoin as a better inflation hedge than gold is the main reason for the current upswing, triggering a shift away from gold ETFs into bitcoin funds since September.”
Peter Thiel Blasts: The American Political System Is “Not A Democracy Or Constitutional Republic”
Peter Thiel Blasts: The American Political System Is “Not A Democracy Or Constitutional Republic”
The obvious conclusion that the U.S. is neither a democracy nor a constitutional republic has been a key topic of conversation here at Liberty Blitzkrieg over the past several years. One of the most powerful representations of this unfortunate fact came from an academic study highlighted last year: New Report from Princeton and Northwestern Proves It: The U.S. is an Oligarchy.
A couple of days ago, Peter Thiel sat down with Tyler Cower at George Mason University’s Mercatus center for a chat about all sorts of interesting things. The Washington Post picked up on some of his thoughts regarding the American political system, which I think deserve some additional commentary.
On the one hand, he accurately identifies the U.S. as nothing resembling either a democracy or a constitutional republic. He then goes on to point out that the system we have is one in which the power is increasingly concentrated in undemocratic, “technocratic” agencies. Where I think he falls way short is with a failure to ask what interests are driving the decisions of these undemocratic entities. Any unbiased observer can clearly see that it is oligarchs driving the oligarchy, as opposed to independent thinking bureaucratic technocrats driving a technocracy. I have published countless articles proving this to be the case. Naturally, a billionaire might have a harder time recognizing this.
…click on the above link to read the rest of the article…
