This is an interview by Erik Schatzker on Bloomberg’s “Front Row” with Jeremy Grantham the co-founder and chief investment strategist of Boston’s GMO, explaining why U.S. stocks have become an epic bubble and will burst in a collapse rivaling the crashes of 1929 and 2000. At the same time, he also touched on gold and Bitcoin, emerging markets and climate change.
The interview can be found here:
https://www.youtube.com/watch?v=RYfmRTyl56wWhat are the lessons we can get as takeaways from this man or should be categorized him as just another prophet of gloom especially in an expanding and exciting Bitcoin bull run?
Firstly, everything begins with trust at first. Without trust, you cannot do anything or rely on anything. What people trust in Bitcoin is the programming that relies on its back. The decentralized bank-free peer-to-peer network is the thing that makes people trust bitcoin. Secondly, what do other people trust other financial instruments? Because they think that their company stocks will do better in the future. And other financial statements. All those are also relevant to Bitcoin. We believe that bitcoin will do better in the future than now. And the financial statements are the statistics that make bitcoin a leader in cryptocurrencies. Increasing volume, new addresses, price peaks are all we decide upon whether we should buy to sell. But no one talks about the false financial statements in the financial system to fool investors. Buy and Hodl!