After a conversation with @wences (CEO of @xapo), the most well-known Swiss financial market expert Marc Faber has invested in Bitcoin.
According to Dr Faber, “I was tempted to purchase Bitcoin when it was available for $200. But I held myself from purchasing something that I didn’t fully understand.”
One of his reasoning to buy Bitcoin is so he could try to better understand how it worked. Also Marc Faber says Bitcoin prices at $3000 is much more attractive than it was at $20,000.
Monday, March 18, 2019
Monday, March 4, 2019
US political situation is very bad
Marc Faber on disinformation during stock market downturns and on US politics.
Well, I think there is a lot of disinformation, and usually when stocks go down, some fraud comes to the surface. And I expect it to happen, and I mean in a major way. Whether the fraud is related to some corporation, which I think is quite likely, or whether it's related to the fraud that is going on in the pension fund system, where pension funds are grossly underfunded, and, in the future, will either have to increase contributions or reduce distributions. I think these are items that could happen.
Secondly, the public may start to lose faith in the system because of the political situation. I think the political situation in the U.S. is very bad, and if you read about what has been happening at the FBI, the CIA in Washington, you have to scratch your head whether that is all possible in a system that is supposedly functioning. It's like Watergate, but actually magnified. So, I think there is a possibility that investing public loses interest in financial assets.
Well, I think there is a lot of disinformation, and usually when stocks go down, some fraud comes to the surface. And I expect it to happen, and I mean in a major way. Whether the fraud is related to some corporation, which I think is quite likely, or whether it's related to the fraud that is going on in the pension fund system, where pension funds are grossly underfunded, and, in the future, will either have to increase contributions or reduce distributions. I think these are items that could happen.
Secondly, the public may start to lose faith in the system because of the political situation. I think the political situation in the U.S. is very bad, and if you read about what has been happening at the FBI, the CIA in Washington, you have to scratch your head whether that is all possible in a system that is supposedly functioning. It's like Watergate, but actually magnified. So, I think there is a possibility that investing public loses interest in financial assets.
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