Jim Grant is so bright. He easily explains why there's a Bubble in Everything by simply telling wonderful baseball stories. He's like an Economic Priest explaining what's going on with parables.
@@steelyspielbergo oh you will know, it will happen when most dont expect. Sure, opportunity cost in between but sadly, most 'investors' are not playing in level field. The sharks will eat all the retails
Tulip Mania lasted about 3 years. At the top, the best tulip bulb sold for about the same price as a middle class home. Then the money was all-in and it crashed. I dabbled in "hot" baseball cards in the early 1990s with my son. Anybody need a box of cardboard? (smile)
The savings rates are really low in usa bc people love to buy crap, not low interest rates. Americans' savings rate has generally been going down for decades. And wages have not even kept up with inflation, so you have lots of people not making much or saving much buying crap they can't afford.
@@elcat9091 You have it backwards, people are buying crap, because at least one gets crap, while money left in the bank is turned to crap. Basic banking principals at play here.
Sir Isaac Newton - Made $ buying tulips bulbs and selling them..And then buying them back at higher prices and...losing everything in the subsequent revaluing of tulip bulbs as....tulip bulbs...
Mr. Grant is intelligent, knowledgeable and well spoken. I only wish the interview was happening now. I'd like to hear his comments on the recent drop of interest rates (10 year Treasury) during increasing inflation. Bizarro.
I've read just about every book James has written. Unfortunately for the public, it's written at a professional level of comprehension. But, as an Investment Advisor, his books have educated me to better understand market history, thus able to interpret how past market behavior might be realized in current markets.
Who buys bonds? Speculators who use them as collateral and could care less what they yield? How could they let the value of the dollar go down? It'll wipe out pensioners.
Congress is refusing to legislate rationally raising taxes during expansions and reducing them during busts leaving it to the Fed to use imperfect tools to control credit and the balance sheet of the nation because it is removed from the politics of party. The Fed is forced into a policy making because our government refuses to live up to it's responsibility to manage the nations finances. Same can be said in another way of the Supreme Court.
If the bond market is to all intents 'destroyed' as Grant says, then where does that leave the dollar? Sure people still accept it, it's a payment vehicle etc but what does a dollar price for an asset mean when theres no price discovery or interest rates
Held it before the last bust, won’t buy in again because you can’t spot the trigger that will dump its value again. One must remember, Bitcoin is most likely a central bank experiment for a couple of simple reasons. Anyone trying to compete with the status quo would have been tracked down & jailed. Satashi Nakamoto or whatever his name is, does not exist, code-coin has no intrinsic value, and her it is supposedly “open source” code hiding out on servers around the world. Who is maintaining those servers? Who replaces the cooling fans, pays the electrical bill, keeps them tied to the internet? Some fellow who mysteriously vanished? When people have enough money invested, I suspect it will be one means of vacuuming a few billion dollars in private liquidity out of the system, a form of interest that will break the hearts of fools once again.
@@buzzblitzer750 Perhaps Satoshi was smart enough to realise the system will want to come after him so decided to maintain his anonymity? You can download, build and run the bitcoin daemon yourself. No hocus pocus. I run one occasionally. Don't get driven into markets through FOMO else you will get burned. Bitcoin or other wise. Those interested in getting into Bitcoin and ask my advice are told "Dollar cost averaging". Pretty much anyone who has ever bought into Bitcoin will have won big if they held. I think Bitcoin is still on a price discovery journey.
BTC is a fully formed yet unsaturated asset that remains in price discovery relative to a gigantic total addressable market. It’s market cap is approximately 10% of gold’s (for example). It’s not a bubble.
Speculation is not price discovery. there is no floor under the value of Bitcoin. Bitcoin can go to zero whereas silver and gold cannot. Cryptocurrencies have certain flaws. Volatility in their price being a major problem in terms of regarding Bitcoin as a currency. Business cannot price future contracts in Bitcoin for this reason. That makes it useless as a currency.
@@paulsmith1981 theres no floor on anything, because all prices based on nothing more than a belief. Its all speculation. Oil couldn't go to zero yet it went negative. Just because you cant imagine gold or silver going to zero doesn't make it a fact.
@@paulsmith1981 everytrade is a speculation even gold.. if u bought gold in 2011 at all time high at 1900.. u would hv made a lost or bagholding for 10 years until 2020. With no yield + storage fee..gold runs risk demonetization which would but price gold by half, and the risk asteriod mining in the future
@@jeffsteyn7174 Gold and silver are rare raw materials, they will always be desirable and have floors for this reason. Over 5000 industrial products require silver in their manufacture, including car batteries, solar panels and electronics. They will always be in demand. Gold and silver can never go to zero for this reason. Oil didn't go anywhere near zero at filling station pumps. its still maintained a market value far in excess of zero. The reason crude oil went negative for a short period was because refineries ran out of storage capacity. Basically overproduction overwhelmed the refineries storage capacity. Oil will always have a use therefore a market value above zero. Can you explain why bitcoin is worth $50,000 rather than $4. What are the fundamentals behind its value, apart from speculation?
They need to put Mr. Grant in as Fed Chair!!! I think he is 100% right.... all this Fed focus and their actions..... will not end well. Cryptocurrencies are just "electrons floating in space". What is the real intrinsic value??? Even the Dutch who had tulip mania at least got an attractive flower instead of electrons.
I like that he first said the damage was caused by lockdowns and then later added pandemic. I think we all know the truth of the economic damage was not the virus but the overreaction to it.
Bitcoin. "Are you sure you want something that is based upon someone being more optimistic than you." How is that different than any other investment in non dividend paying stocks for instance with very high price earnings ratios and selling at many times book value? In March stocks dropped off the edge of the world! Were they safer than bitcoin which has a rare characteristic of fixed supply with increasing demand? So all in all I would answer his question with a big YES! If no one eventually is more optimistic than I on WHATEVER I own,the price will go DOWN.
This is quite interesting and informative but don't get it twisted, going into investments like crypto currency/real estate or buying Assets that appreciates should be at the top list of everyone now then see how ecstatic you will be in days or months time for the decision you made today.
That's very taught full of you because I'm into some crypto investments now and it's really profitable, but will recommend you to do a background check up to ensure you're investing in a solid foundation source, to avoid blowing your account, An alternative seek guidance from some pro trader's and more to avoid loses of funds.
Hello I keep losing trying to invest with some online UA-cam trader's, but I'm still Trading to improve my techniques, I just need a better source to invest and earn while still trading, any recommendations please??
In all my years of trading and research the most valuable insight was getting in touch with a pro trader Briggs Donald and ever since I started investing with him have been making cool profits like never before, will recommend him as one of the best trader due to my experience with him.
@@wolfiestreet6899 Forget trading, think about the future. Without the internet we would not have Amazon, we would not have youtube. The cryptocurrencies are the new internet where a whole world is being built on top of it right now. It will explode soon as the internet did eventually. And when it happens there is no coming back
But there are many things that cannot be printed and have a fixed supply. There is no fundamental reason for BTC to be at the price it is at today. Pure speculation. That said, it will likely keep going much higher. Still very risky.
@@michaelweyenberg6238 The fundamentals are there. It's much more than a currency, search for: Defis, NFTs, yield farms, smart contracts. The price is not always a relfection of the value, but the value is always increasing because of the network effect and this stuff is being built on top of this infra
@@investidorint agree, there is some value, but who knows what that really is. Todays price relies so much on exchanges and USDT, it's hard to justify. But the same can be said for tech stocks. I just treat it as a trading vehicle and understand the risks.
So wise and true to form has a historical depth of knowledge that is very rare coming from financial experts. There is so much humility when he declares at the end of this interview that the more certain you are about something the greater is the probability that you could be wrong!!
Crypto going mainstream is like your favorite metal band being rearranged for Kenny G!!!! I had to pause the podcast so I could laugh for five minutes.
@@frederickmuhlbauer9477 Maybe the keyword is Crash. The Fed has taken over the market as a GSE, and its mission is to continue on a nightly basis to bail out corrupt banks and banking oligarchs at the expense of the economy, or oconomy, the restoration of the malaise of the Obama era. Obama thinks he's back in charge.
Inflation is actually the inflating of the money supply. The increase in prices (the cost of living and the increase in wealth inequality) is the ultimate effect.
I thoroughly enjoyed this. Such great perspective from an excellent interviewer and guest. I like the reminder that cash is going to be so welcome and handy in the likely event that asset prices are marked to traditional valuations.
Bitcoins value will evaporate when theres more sellers then bidders,and the outsized derivatives market attached to it will most assuredly be the proppellant on the fire. The central banks have just signaled intent to elbow in on cryptos in the near term future,that is as good a catalyst as any.
@@Ulyssestnt it is infinitely divisible. You can do transactions with .000006 of a bitcoin if you like. Oh, and I'm not a bitcoin cheerleader...I'm still trying to figure it out myself.
@@schmingusss Wait a minute. Let me get this straight. Fiat becomes shit when inflated to insane levels; hence, the endless printing of money supply thus dilutes the value of a specific unit of value - $1 becomes less than $1. So, how is this any different from BTC being endlessly subdivided into.....as you say "infinite" units of measure? To me, it sounds like the same shit, different butthole.
like gold bubble? i bought in 1753 b.c middle kingdom of Egipt and it only doubled its buying power, yet its value in currency i purchased it for is now about 5 tredecillion % up! assuming that I exchanged at the right time. what a shitcoin
@@asumamonsta - So I believe BSV is the real Bitcoin and I don't embrace technology? Blockchain will be the world supercomputer, and it's not running on BTC.
Proof that being knowledgeable doesn’t make you money. I respect him but would never follow his investment advice. Imagine if you had bought gold instead of apple 20 yrs ago. Big mistake!
Okay ... but the Purple Gang? The Chicago Tribune was headquartered in Chicago; the Purple Gang was a gang in Detroit. Is there some intended significance to the choices made there?
That's because the dry intellect gets tired of being left out and wants to join the sensational party. Classic story of the nerds, the cheerleaders and the players at the Baseball game.
Grant: I assure you SOME will get out. I assume you said the same about Qualcom when it went for 80 to about 800 in just a few months? Some people win and others lose.
I had to look at the date of this video. Jim's case against Bitcoin is from 2017. Sure we'll have a pullback after this cycle's peak, but Bitcoin and crypto are here to stay.
@@user-dd5kx5md5o First, that is the wrong question. Since bitcoin claims to be a currency, not a mineral or a collectible, it should be compared with other currencies, so the correct question is, "What volume of transactions are conducted in US dollars?" A LOT. Gold is a collectible appreciated for its beauty and durability, like fine art. Gold also has some practical uses, but because of its cost it is used sparingly. It is a great conductor, and probably the best material in the world for tooth fillings. Finally, gold can be, and often is, passed down in the family. The large majority of all the gold ever mined is still conserved. Bitcoin, however, will survive only as long as the electrical grid. How long will that be? I would give it no more than two centuries, and that is my wildly optimistic estimate. Frankly, I would be amazed if the grid were a functional technology even 100 years from now. The energy sources we need to power it and maintain it will be too depleted. Intermittent power resources are unable to substitute for conventional energy resources to feed the grid on a large scale, as Germany found out the hard way where solar and wind are now capped at 25% of the grid power supply and where coal consumption is higher than it was a decade ago, and storage is too energy and resource intensive to scale up.
Ive held bitcoin since 2013 at $100.00. I am now financially independent. Do not listen to all the FUD from these old boomers. It's not a currency it is a digital gold asset. You can also purchase as much as $5.00 not a whole bitcoin like this geezer is making you believe.
Your argument is absolutely irrelevant. Try to think about what you just said and realize the inane presupposition of your claim. You got in at 100.00 per coin. Do you think a guy with total trading capital of $7500 could fare as well as you despite the current BTC price at 57.3k? Fucking foolish.
More than half of u.s. stocks pay no dividends. He says bitcoin pays no dividend. What do we really own, when we own a non-dividend paying stock?? A piece of paper that we hope some Moe will pay more for in the future. (And why would he? Havent figured that out either....wait because he also thinks some future Moe will pay more! Got it)
I have been trading with Mr Dave's unique strategy for more than 18 months now and my total holdings in my portfolio just hit 50btc. His strategy has set me up for life. I don't know where to start from i am so super happy
LOL, BTC and Tesla are alike -- I think many people who hold either will agree, because I suspect they tend to attract the same people. The enthusiasm for both remind me of the enthusiasm for dot com stocks in the late 90s.
Tesla is currently and consistently profitable and has a very simple discounted cash flow calculation to reach its current valuation (with significant upside). 2030, 10 million car fleet, each making $10,000 in profit for Tesla through a robotaxi service. 100 billion in profit at a multiple of 30 3 trillion dollar valuation in 2030 Current valuation of .65 trillion 19% annual appreciation Upside from solar roof, powerwall, autobidder, utility scale energy, dojo AI, autopilot licensing, tesla insurance, battery licensing, gigafactory licensing, actual car sales, and anything else that an extremely innovative company comes up with over the next 9 years.
Stocks are a huge bubble. Bitcoin is not. He ignored all of Bitcoin's benefits. And yes it's volatile, but that's to be expected with a new form of wealth and currency.
The Fed doesn't influence interest rates, it sets them, and it administers an industrial policy of bailing out failed banks and other failed enterprises, and it is about to create a Sovereign Wealth Fund to buy favored equities.
@@Sc9cvsd They try to run the entire global economy, but the Fed has caused the ongoing, permanent financial crisis because they're main mission is to support oligarch CEOs of zombie banks.
"The markets can remain irrational longer than investors can remain solvent." That is indeed an eye opening modern day reality.
Jim Grant is so bright. He easily explains why there's a Bubble in Everything by simply telling wonderful baseball stories. He's like an Economic Priest explaining what's going on with parables.
He's a con-man.
let me know when he's been right about something
@@steelyspielbergo oh you will know, it will happen when most dont expect. Sure, opportunity cost in between but sadly, most 'investors' are not playing in level field. The sharks will eat all the retails
"When Greed Turns To Gravity." Great phrase.
Tulip Mania lasted about 3 years. At the top, the best tulip bulb sold for about the same price as a middle class home.
Then the money was all-in and it crashed.
I dabbled in "hot" baseball cards in the early 1990s with my son.
Anybody need a box of cardboard? (smile)
Zero rates have been a major factor in middle class destruction in the United States due to zero yield on their savings.
Around the World. But the criminals running the Fed are the biggest dingle problem!
The savings rates are really low in usa bc people love to buy crap, not low interest rates. Americans' savings rate has generally been going down for decades. And wages have not even kept up with inflation, so you have lots of people not making much or saving much buying crap they can't afford.
@@elcat9091 g
Who needs yield when the government can just print and direct send one money!
@@elcat9091 You have it backwards, people are buying crap, because at least one gets crap, while money left in the bank is turned to crap. Basic banking principals at play here.
"Extraordinary Popular Delusions and the Madness of Crowds" - 1841 and still very much worth reading.
where my slave at
@@user-vz7tj4hq8b 😂... Slaves were owned by people all over the world not just by white people boss
If I recall correctly, the Mississippi Bubble burst only after the last of the skeptics bought in.
@@chrisyorke6175 Bubbles burst when the last buyer is in. If they bought at the top then they weren't skeptics.
Truly grateful for Consuelo, Wealthtrack and this interview in particular.
Today it's not about return ON capital. Today it is about return OF capital.
Lesson from the 2000s: don’t bet against computer nerds. Thus, I will never short Bitcoin.
Are you a computer nerd?
"The more intense the craze, the higher the order of intellect that succumbs to it."
Sir Isaac Newton - Made $ buying tulips bulbs and selling them..And then buying them back at higher prices and...losing everything in the subsequent revaluing of tulip bulbs as....tulip bulbs...
The only bubble I see is in Fiat dependence
Contact Mr timothygart for your trade
And you make more profit
Grant is a sage. Have had the good fortune of meeting a few times over the years. He nails it on the head here esp on the retirement crisis.
Gold does not allow you to go from country to country as easily as crypto.
This is the biggest difference when you try to protect your money.
Do you have a coin if you can not access an electronic device? You can keep a lot of gold in hollowed out shoe heels.
Mr. Grant is intelligent, knowledgeable and well spoken. I only wish the interview was happening now. I'd like to hear his comments on the recent drop of interest rates (10 year Treasury) during increasing inflation. Bizarro.
Awesome information
Old man yelling at Bitcoin.
Lol
Contact Mr timothygart for your trade
And make more profit.
I've read just about every book James has written. Unfortunately for the public, it's written at a professional level of comprehension. But, as an Investment Advisor, his books have educated me to better understand market history, thus able to interpret how past market behavior might be realized in current markets.
James is great, tremendous sense of history. Love the Baseball anecdote.
Peter Schiff’s Sesame Street video is hilarious but truthful.
I thought this was Bill Nye the Science guy
Bill Nye the science guy couldn't carry Jim Grant's jock strap . . .
14:50 Free money, miss pricing of the market, and 1974 Cleveland Indians and I was there! So true!
This guy doesn't understand Bitcoin at all.
Who buys bonds? Speculators who use them as collateral and could care less what they yield? How could they let the value of the dollar go down? It'll wipe out pensioners.
Congress is refusing to legislate rationally raising taxes during expansions and reducing them during busts leaving it to the Fed to use imperfect tools to control credit and the balance sheet of the nation because it is removed from the politics of party. The Fed is forced into a policy making because our government refuses to live up to it's responsibility to manage the nations finances. Same can be said in another way of the Supreme Court.
I always enjoy this guy and learn something useful!
17:58 perfect analogy for what Bitcoin has become!
Nice of Consuelo to laugh at the baseball "joke."
If the bond market is to all intents 'destroyed' as Grant says, then where does that leave the dollar? Sure people still accept it, it's a payment vehicle etc but what does a dollar price for an asset mean when theres no price discovery or interest rates
James has always been a stand up guy who tells the truth just the way it is.
True dat Keith
17:58 That is a gem.
We're in a crack up boom for sure
💥
I bought Bitcoin not because distrust of central bank, I bought Bitcoin because I couldn't resist my greed.
@Lordeverfall100 A very dear friend bought at $200. When do you think you'll sell?
Held it before the last bust, won’t buy in again because you can’t spot the trigger that will dump its value again. One must remember, Bitcoin is most likely a central bank experiment for a couple of simple reasons. Anyone trying to compete with the status quo would have been tracked down & jailed. Satashi Nakamoto or whatever his name is, does not exist, code-coin has no intrinsic value, and her it is supposedly “open source” code hiding out on servers around the world. Who is maintaining those servers? Who replaces the cooling fans, pays the electrical bill, keeps them tied to the internet? Some fellow who mysteriously vanished? When people have enough money invested, I suspect it will be one means of vacuuming a few billion dollars in private liquidity out of the system, a form of interest that will break the hearts of fools once again.
@@buzzblitzer750 Perhaps Satoshi was smart enough to realise the system will want to come after him so decided to maintain his anonymity?
You can download, build and run the bitcoin daemon yourself. No hocus pocus. I run one occasionally.
Don't get driven into markets through FOMO else you will get burned. Bitcoin or other wise.
Those interested in getting into Bitcoin and ask my advice are told "Dollar cost averaging".
Pretty much anyone who has ever bought into Bitcoin will have won big if they held. I think Bitcoin is still on a price discovery journey.
WooHoo! The perfect guest for the perfect time.
Why
@WealthTrack Hacked Consuelo account
The horn rimmed glasses and bow tie gave it away.
BTC is a fully formed yet unsaturated asset that remains in price discovery relative to a gigantic total addressable market. It’s market cap is approximately 10% of gold’s (for example).
It’s not a bubble.
Speculation is not price discovery. there is no floor under the value of Bitcoin. Bitcoin can go to zero whereas silver and gold cannot. Cryptocurrencies have certain flaws. Volatility in their price being a major problem in terms of regarding Bitcoin as a currency. Business cannot price future contracts in Bitcoin for this reason. That makes it useless as a currency.
@@paulsmith1981 theres no floor on anything, because all prices based on nothing more than a belief. Its all speculation. Oil couldn't go to zero yet it went negative. Just because you cant imagine gold or silver going to zero doesn't make it a fact.
@@paulsmith1981 everytrade is a speculation even gold.. if u bought gold in 2011 at all time high at 1900.. u would hv made a lost or bagholding for 10 years until 2020. With no yield + storage fee..gold runs risk demonetization which would but price gold by half, and the risk asteriod mining in the future
@@jeffsteyn7174 Gold and silver are rare raw materials, they will always be desirable and have floors for this reason. Over 5000 industrial products require silver in their manufacture, including car batteries, solar panels and electronics. They will always be in demand.
Gold and silver can never go to zero for this reason.
Oil didn't go anywhere near zero at filling station pumps. its still maintained a market value far in excess of zero.
The reason crude oil went negative for a short period was because refineries ran out of storage capacity. Basically overproduction overwhelmed the refineries storage capacity. Oil will always have a use therefore a market value above zero.
Can you explain why bitcoin is worth $50,000 rather than $4. What are the fundamentals behind its value, apart from speculation?
@@paulsmith1981 bitcoin have the value you want it to have... just like beanie babies.
They need to put Mr. Grant in as Fed Chair!!! I think he is 100% right.... all this Fed focus and their actions..... will not end well. Cryptocurrencies are just "electrons floating in space". What is the real intrinsic value??? Even the Dutch who had tulip mania at least got an attractive flower instead of electrons.
I like that he first said the damage was caused by lockdowns and then later added pandemic. I think we all know the truth of the economic damage was not the virus but the overreaction to it.
Bitcoin. "Are you sure you want something that is based upon someone being more optimistic than you." How is that different than any other investment in non dividend paying stocks for instance with very high price earnings ratios and selling at many times book value? In March stocks dropped off the edge of the world! Were they safer than bitcoin which has a rare characteristic of fixed supply with increasing demand? So all in all I would answer his question with a big YES! If no one eventually is more optimistic than I on WHATEVER I own,the price will go DOWN.
This is quite interesting and informative but don't get it twisted, going into investments like crypto currency/real estate or buying Assets that appreciates should be at the top list of everyone now then see how ecstatic you will be in days or months time for the decision you made today.
Thinking of going Into crypto currency investment soon, heard is really profitable with investors now .
That's very taught full of you because I'm into some crypto investments now and it's really profitable, but will recommend you to do a background check up to ensure you're investing in a solid foundation source, to avoid blowing your account, An alternative seek guidance from some pro trader's and more to avoid loses of funds.
Hello I keep losing trying to invest with some online UA-cam trader's, but I'm still Trading to improve my techniques, I just need a better source to invest and earn while still trading, any recommendations please??
In all my years of trading and research the most valuable insight was getting in touch with a pro trader Briggs Donald and ever since I started investing with him have been making cool profits like never before, will recommend him as one of the best trader due to my experience with him.
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His concerns: Bitcoin is not anonymous anymore and it can be taxed. Old man, Listen to Consuelo, we hodl it because it cannot be printed
@@wolfiestreet6899 He is absolutely wiser than me, and most people here. Only not wiser than you supreme judge. Still I think he is wrong about crypto
@@wolfiestreet6899 Forget trading, think about the future. Without the internet we would not have Amazon, we would not have youtube. The cryptocurrencies are the new internet where a whole world is being built on top of it right now. It will explode soon as the internet did eventually. And when it happens there is no coming back
But there are many things that cannot be printed and have a fixed supply. There is no fundamental reason for BTC to be at the price it is at today. Pure speculation. That said, it will likely keep going much higher. Still very risky.
@@michaelweyenberg6238 The fundamentals are there. It's much more than a currency, search for: Defis, NFTs, yield farms, smart contracts. The price is not always a relfection of the value, but the value is always increasing because of the network effect and this stuff is being built on top of this infra
@@investidorint agree, there is some value, but who knows what that really is. Todays price relies so much on exchanges and USDT, it's hard to justify. But the same can be said for tech stocks. I just treat it as a trading vehicle and understand the risks.
So wise and true to form has a historical depth of knowledge that is very rare coming from financial experts. There is so much humility when he declares at the end of this interview that the more certain you are about something the greater is the probability that you could be wrong!!
How are Venezuelan, Cuban and Mayan investments doing?
Crypto going mainstream is like your favorite metal band being rearranged for Kenny G!!!! I had to pause the podcast so I could laugh for five minutes.
If you speculate in favored stocks instead of bonds, you can retire quite quickly if you don't get caught in the crash.
Keyword “ if”
@@frederickmuhlbauer9477 Maybe the keyword is Crash. The Fed has taken over the market as a GSE, and its mission is to continue on a nightly basis to bail out corrupt banks and banking oligarchs at the expense of the economy, or oconomy, the restoration of the malaise of the Obama era. Obama thinks he's back in charge.
Inflation is actually the inflating of the money supply. The increase in prices (the cost of living and the increase in wealth inequality) is the ultimate effect.
Debate Michael Saylor please.
.
No inflation!!!!.....Food prices just reached their highest levels since 2014. Oh that's right.The Feds preferred measure from the BLS says "NO"
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I thoroughly enjoyed this. Such great perspective from an excellent interviewer and guest. I like the reminder that cash is going to be so welcome and handy in the likely event that asset prices are marked to traditional valuations.
You two were marvelous!
Bitcoins value will evaporate when theres more sellers then bidders,and the outsized derivatives market attached to it will most assuredly be the proppellant on the fire.
The central banks have just signaled intent to elbow in on cryptos in the near term future,that is as good a catalyst as any.
Unlike fiat currencies, You cannot create more bitcoin.
@@schmingusss True,but that is also an obstacle in order for it to function as an actual form of currency at scale.
@@Ulyssestnt it is infinitely divisible. You can do transactions with .000006 of a bitcoin if you like. Oh, and I'm not a bitcoin cheerleader...I'm still trying to figure it out myself.
@@schmingusss Wait a minute. Let me get this straight. Fiat becomes shit when inflated to insane levels; hence, the endless printing of money supply thus dilutes the value of a specific unit of value - $1 becomes less than $1. So, how is this any different from BTC being endlessly subdivided into.....as you say "infinite" units of measure? To me, it sounds like the same shit, different butthole.
How nice of you to continually interrupt your guest and interview yourself.
Unbearable audio squeaking
like gold bubble?
i bought in 1753 b.c middle kingdom of Egipt and it only doubled its buying power, yet its value in currency i purchased it for is now about 5 tredecillion % up! assuming that I exchanged at the right time.
what a shitcoin
gold and silver simple
Yup agree with guy on top, returns are horrendous
But Jim....a 10 year bubble?
Bill Nye the Finance Guy?
To me James Grant is the epitome of intelligence and wit within the investing space. Thank you.
More like epitome of a dinosaur
@@asumamonsta -The BTC crowd is so myopic.
@@Natangz you mean the gold crowd?.. u dont embrace technology u are the myopic
@@asumamonsta - So I believe BSV is the real Bitcoin and I don't embrace technology? Blockchain will be the world supercomputer, and it's not running on BTC.
@@Natangz then you are real myopic, you need to get some glassses. Have you seen the price of BSV?
Lots of kernels of truths. Thanks for this.
One comment in reference to Bitcoin - tulip mania.
Those who've studied the history of money knows that bubbles always pop regardless of how big the bubble becomes
@@tristantriton8115 The history of money says that fiat goes to 0. Zoom out and look at the dollar trend
Nooooo- Max sayz it's the next world Reserve currency. Lol
At what point in time were tulips used to trandfer great amounts of wealth without permissions of the governments of the areas involved?
@@wakcackle3555 you think Max Kieser, Singer and Musk are getting away with transfering money with out being taxed? Lol
Proof that being knowledgeable doesn’t make you money. I respect him but would never follow his investment advice. Imagine if you had bought gold instead of apple 20 yrs ago. Big mistake!
Hilarious that the bitcoin bots are still posting on this thread even when a guy is trashing bitcon
If I can't touch it, jingle it on my pocket, or point to a company that makes it. Then it is NOT an asset
@@WhittyPics so information is not an asset ?
Plus replying to your comment!😂
@@WhittyPics That seems to be a rather dated view these days.
@@DennisRay99 Dated perhaps but nonetheless very true
Crypto is a swelling social mechanism of trust... while Fiat continues to dilute its value.
In the best scenario, what if 1% of BTC holders per year forget their key or die without a will, where would BTC be in 100 to 1000 years? Anyone?
In a 100 years there will be far better technology than bitcoin, and like most technology disruptions the obsolete tech is worthless.
Cash is literally the worst asset class longterm.
True, I still see a massive deflationary correction coming fairly soon first
Starting 50 years ago....
Long term true but just before a correction it can be a real oppurtunity
Please put in a subject timeline
It can never be independent and for the good
of the people when major banks are shareholders of the FED.
And to think that Bitcoin is soo sexy compared to carbon credits.
Electricity is in a a Bubble. I am not sure why people continue to invest in electricity. I am pretty sure one day electricity will go to Zero.
Great interview, love to here JG’s. Guy has a good sense of humor. Goes to show, that if your not having fun with it, maybe you shouldn’t be in it.
The fed is like a reaction of markets not the opposite
Okay ... but the Purple Gang? The Chicago Tribune was headquartered in Chicago; the Purple Gang was a gang in Detroit. Is there some intended significance to the choices made there?
everybody do the dinosaur !!
"The more intense the craze, the higher the order of intellect that succumbs to it."
Happened to Isaac Newton.
Most seem to succumb to greed at some point. It amazes me what some people are putting their money into these days.
That's because the dry intellect gets tired of being left out and wants to join the sensational party. Classic story of the nerds, the cheerleaders and the players at the Baseball game.
I don't get the baseball stories.....
Horrible audio quality
So much terrible advice, manipulation on UA-cam regarding finance. So glad I found this channel. Subscribed.
Grant: I assure you SOME will get out. I assume you said the same about Qualcom when it went for 80 to about 800 in just a few months? Some people win and others lose.
1999, 2009, good times to have cash. But since the market is rigged I'm sure there's a select few who know the exact time to raise cash.
I had to look at the date of this video. Jim's case against Bitcoin is from 2017. Sure we'll have a pullback after this cycle's peak, but Bitcoin and crypto are here to stay.
Who is using them to transact? What is the volume of consumer purchases that are transacted in crypto?
@@michaels4255 What volume of consumer purchases are transacted in gold?
@@user-dd5kx5md5o First, that is the wrong question. Since bitcoin claims to be a currency, not a mineral or a collectible, it should be compared with other currencies, so the correct question is, "What volume of transactions are conducted in US dollars?" A LOT.
Gold is a collectible appreciated for its beauty and durability, like fine art. Gold also has some practical uses, but because of its cost it is used sparingly. It is a great conductor, and probably the best material in the world for tooth fillings.
Finally, gold can be, and often is, passed down in the family. The large majority of all the gold ever mined is still conserved. Bitcoin, however, will survive only as long as the electrical grid. How long will that be? I would give it no more than two centuries, and that is my wildly optimistic estimate. Frankly, I would be amazed if the grid were a functional technology even 100 years from now.
The energy sources we need to power it and maintain it will be too depleted. Intermittent power resources are unable to substitute for conventional energy resources to feed the grid on a large scale, as Germany found out the hard way where solar and wind are now capped at 25% of the grid power supply and where coal consumption is higher than it was a decade ago, and storage is too energy and resource intensive to scale up.
Ive held bitcoin since 2013 at $100.00. I am now financially independent. Do not listen to all the FUD from these old boomers. It's not a currency it is a digital gold asset. You can also purchase as much as $5.00 not a whole bitcoin like this geezer is making you believe.
You won the lottery. You were early into the Ponzi, it happens. Know when to get out.
Your argument is absolutely irrelevant. Try to think about what you just said and realize the inane presupposition of your claim. You got in at 100.00 per coin. Do you think a guy with total trading capital of $7500 could fare as well as you despite the current BTC price at 57.3k? Fucking foolish.
@@tcavalo It's digital gold don't you know? LMFFMO!!
26:15 British value stocks and cash = punchline for this podcast. Also, any cherished beliefs are probably the most unlikely to come true, lol.
Why are you interviewing Bill Nye The Science guy? You can't get away with that. We aren't stupid.
Bubbliscious
closed captions please, thanks.
More than half of u.s. stocks pay no dividends. He says bitcoin pays no dividend. What do we really own, when we own a non-dividend paying stock?? A piece of paper that we hope some Moe will pay more for in the future. (And why would he? Havent figured that out either....wait because he also thinks some future Moe will pay more! Got it)
I have been trading with Mr Dave's unique strategy for more than 18 months now and my total holdings in my portfolio just hit 50btc. His strategy has set me up for life. I don't know where to start from i am so super happy
I sent £25 by western union
Cost £5 ie 20%
Anything that can reduce that cost gets my attention crypto or whatever
There was a $4.5 billion dollar BTC transaction made a couple weeks ago amd the fees for the transaction was a whopping $21
So many cash apps, where gave u been? Even paypal..shhh
@@johngund9921 sent to people with no internet access....yes they still exist
@@tictoc5443 genius,, he/she is on the net.
Fed will control the yield curve...I don't think Jim has a grasp on what BTC is by comparing it to Tulip mania...very obvious.
Prescient, re: interest rates.
LOL, BTC and Tesla are alike -- I think many people who hold either will agree, because I suspect they tend to attract the same people. The enthusiasm for both remind me of the enthusiasm for dot com stocks in the late 90s.
Tesla is currently and consistently profitable and has a very simple discounted cash flow calculation to reach its current valuation (with significant upside).
2030, 10 million car fleet, each making $10,000 in profit for Tesla through a robotaxi service.
100 billion in profit at a multiple of 30
3 trillion dollar valuation in 2030
Current valuation of .65 trillion
19% annual appreciation
Upside from solar roof, powerwall, autobidder, utility scale energy, dojo AI, autopilot licensing, tesla insurance, battery licensing, gigafactory licensing, actual car sales, and anything else that an extremely innovative company comes up with over the next 9 years.
Stocks are a huge bubble. Bitcoin is not. He ignored all of Bitcoin's benefits.
And yes it's volatile, but that's to be expected with a new form of wealth and currency.
Well Bitcoin 50K value is only due to its cap supply, otherwise it would be worth $2000 like gold.
it wouldn't even be worth that
I should take a look at Jim's writing, since I enjoy his interviews so much.
He doesn't say what people need to invest in given all the constant and egregious printing of fiat money
The Fed doesn't influence interest rates, it sets them, and it administers an industrial policy of bailing out failed banks and other failed enterprises, and it is about to create a Sovereign Wealth Fund to buy favored equities.
They set the short term rates but they don't set long term rates. They influence them by buying at below market rates but that's not setting
@@Sc9cvsd They try to run the entire global economy, but the Fed has caused the ongoing, permanent financial crisis because they're main mission is to support oligarch CEOs of zombie banks.
Gundlach said it is illegal for the fed to buy junk bond or any bond :-) u should invite him !
Should the federal reserve start curve control in the Chinese government bond market?
Gennie cream halcyon days. (8 oz. Heaven)
The main stream throws out a big number after playing dumb about "the bitcoins"
The masses will follow momon anywhere!
Like I said before, The Fed and government want the Gold and Silver lowest possible. KEEP HOLD THE PHYSICAL!
@@wolfiestreet6899 The reason is to camouflage the weakness of fiat currencies Metals soaring don’t give people confidence in fiats do they?
@@wolfiestreet6899 they pay Cardi B and gender change pills for kids in USDs, it is already worthless debt trash
@@wolfiestreet6899 that's exactly what the fed will be saying when it's worth... nothing.
@@wolfiestreet6899 SILVER AND LAND
@@wolfiestreet6899 barter market?? HAHAHA ive got 400 acres to graze beef and dairy and a natural spring your ass is coming to me to "barter"
sound like a bond king watching bond drop like a rock
Above the bow tie is genius. Been constant role model for several generations.
Gibson the hall of famer?
THE BOWTIE SAYS IT ALL. HOW VAIN.
To assume dark motives, anonymous transactions and tax fraud to bitcoin today is pretty uninformed. I like cash as well. To buy the dips. 😉