A Crypto Contrarian Voice Arises - Cryptocurrencies May Be Worth Nothing!
Billionaire hedge fund manager Paul Singer is raising his flag that Crypto's don't make sense and might be nothing!
Who is Paul Singer? For starters he is highly educated with degrees in psychology, Attorney, and is best known for being a US Business man and self made Billionaire turned Philanthropist. Who has an estimated worth of $3.6T.
Paul has a reputation of being the toughest money managers in that huge industry. Paul founded Elliott Associates in 1977, making it one as the oldest hedge funds under continuous management. Paul is also an activist investor pushing to acquire distressed assets, many call him a Vulture capitalist. Paul characterizes it as making those who don't follow investing rules pay the price. Sounds prudent to me!
What did he say? 
Hello... that is more than a canary in the coal mine (https://www.publish0x.com/new-to-cryptos/are-cryptos-the-canary-in-the-coal-mine-xmkdvnr) . Paul's comments are the polar opposite to everything hitting the newswires today. He doesn't believe Crypto's are a hedge against the Inflation Tidal wave that will engulf the entire world. Anyone else's bell go off, he sounds like Warren Buffet just prior to the DOT COM Crash? A throw back to the irrational exuberance of yester year? Perhaps, or just a warning across the bow we are getting close to it.
My inner skeptic is always asking what do they know that I don't? Are they just trying to suppress the price so they can get in and snap up as much as possible w/ a potential distraction? In this case I do not think Paul is doing that I think he provided the warning for people to temper jumping into the Crypto realm with everything!
Does Paul not understand crypto's? Highly unlikely, he seems very capable of looking at all aspects and sides of a topic. In fact, he stated
He understands the computing effort to mine/create Crypto's he just does not see that at the end of the day it is an asset.
Which got me wondering? What IF the Crypto Wall of Money is designed to shake out our Gold?
WARNING - Some or most of you might find this article contentious so I warn you turn back NOW.
WARNING - Some or most of you might find this article contentious so I warn you turn back NOW
Okay, you have been warned twice. What IF the Crypto Realm is the new shiny object designed to incentivize you to sell your position in Gold and/or precious metals?
Consider that another Gold Confiscation would look bad for the evening news and newspapers regardless of how biased they are. What if the Crypto Realm is a distraction to get you to willingly sell out of your precious metal positions?
So let's recap where we are...12 years ago Bitcoin Whitepaper was released under an alias. An industry has popped up around it, creating new uses of the technology. What if that was the intent all along? I.E. release it to the public domain, have the improve it, protect it, promote it and then? Sure, sure i get the entire scarcity factor but how many of you think that ANY Central bank or Tyrant will permit the use of a new form of currency that they don't control?
What if I am wrong? and there is 100% chance of that!
But what IF I am right, have you played into their hands; yet again? Recall US President Roosevelt signed Executive Order 6102 outlawing Gold in the most prosperous nation on the earth. Another rational thought is Crypto's are a great way to soak up the Trillions of Stimulus being injected into every country around the Globe what if Crypto's are a diversion? What will the impact be to Inflation of Real Assets?
Why do this? Perhaps its to bring about their Brave New World based upon PM's? I don't have a crystal ball so I don't know! What I do know is the way it feels!
Summary - this is my take on an interview and where my went after that journey! Might be time to proceed with caution my friends!
Resources
https://en.wikipedia.org/wiki/Paul_Singer_(businessman)
https://blockworks.co/paul-singer-cryptocurrencies-are-nothing/
