CryptoGloble/Siamak Masnavi/6-13-2022
Cartoon courtesy of Michael P. Ramirez.com
“I don’t know whether I’m seeing it, but I expect it to. You can’t take over $2 trillion in purchasing power and then take a trillion of it out and not matter. John, I also have high frequency signals, and there certainly seems to be a strong correlation between crypto and the Nasdaq. I don’t think it takes a genius to figure out why. So, I’m looking at it as an indicator that way. Crypto, you know, everything that Charlie Munger says about it, I’m sympathetic to, everything that Bill Miller says about it, I’m sympathetic to.”
USAGOLD note: if Druckenmiller is looking at crypto as an indicator, one wonders what he thinks about future financial market stability now that bitcoin has dropped 21% and Ethereum 28% over the course of a single weekend. He has some advice on gold in this interview but it’s difficult to sort out what he’s trying to say.
