During a recent live YouTube broadcast, Morgan Creek Digital co-founder and cryptocurrency expert Anthony Pompliano outlined the current COIVD-19 pandemic economy, referring to government spending and US money printing efforts.
“There is a devaluation of the currency,” said Pomliano in his live broadcast on July 18. “The whole secret to wealth creation is getting cash into dollar-denominated assets that will continue to grow in value over time: stocks, real estate, gold, bitcoin, all of that.”
Wealth increases as the economy struggles
Prevention measures against COVID-19 have led to economic stagnation and job loss. As part of the corrective action The US government has injected money into the country. Print and give away money, how detailed Pomliano. American companies and billionaires have harvested the benefits of receiving massive bailouts, he explained.
“You have to get out of the money,” said Pompliano, Push people to do it run away to other assets. “Don’t fight the FED,” he pointed out and referred to the Federal Reserve of the United States.
“Don’t think the Fed cares about the little one. The Fed just cares about managing an economy and putting pressure on asset prices.”
Inflation has devastated the United States
The past half century has seen huge inflation in the United States compared to gold. A stock market chart that shows the last decades of price movement shows a 45 degree upward angle, which means markets essentially have increased significantly over time when valued in dollars, Pompliano explained.
“Structurally, stock prices rise over long periods of time and have nothing to do with the underlying companies.” said. “Everything has to do with the dollar, the denominator, what the asset is called being devalued.”
However, Valued in gold instead of dollars, the same stock market chart shows a downward trend in the past 49 years. reveals a Devalued dollar instead of higher-value stocks, said Pomp.
Among the assets mentioned by Pompliano are Bitcoin in particular has inherent inflation protection. According to the asset’s original code, only 21 million Bitcoin (BTC) will exist. How World governments are printing more and more paper money, the supply of Bitcoin remains constant, What is it doing a way of reporting.
Pompliano has also argued that Bitcoin is an uncorrelated asset in many cases, suggesting that the price path for digital assets is independent of that of traditional markets.