CNBC/Ron Insana/4-8-2022
“It still represents a small fraction of the world’s currency system. Its $820 billion market value (whatever that means for a ‘currency’) is small when compared to dollars in circulation globally and pales in comparison to the $13 trillion value of the world’s outstanding stash of gold, the hard currency of choice for most of the planet.”
USAGOLD note: We were surprised that Ron Insana would have nice things to say about gold. We can’t remember if he has ever said anything positive about “the hard currency for most of the planet” before. We were also surprised that the usually staid Mr. Thiel would go nuclear on what he calls the ‘finance gerontocracy” (Warren Buffett, Jamie Dimon, and Larry Fink). Perhaps what really has him so irked is bitcoin’s poor performance of late – down over 35% from its early November peak.
