Prominent billionaire hedge fund manager Stanley Druckenmiller said that cryptocurrencies may be playing a big role in the Renaissance. He added that he would be “stunned” if the US didn’t go into recession next year.
Stanley Druckenmiller: People don’t trust central banks
Billionaire investor Stanley Druckenmiller discussed the US economy and cryptocurrencies during an interview at the CNBC Delivering Alpha conference on Wednesday. Druckenmiller is the Chairman and CEO of the Duquesne Family Office LLC. He was previously Managing Director of Soros Fund Management, with overall responsibility for his $22 billion top asset value fund. According to Forbes Billionaires List, his personal net worth is currently $6.4 billion.
with reference to the news of bank of england It bought 65bn of British bonds and said “if things really go wrong”, other central banks will do similar things in the next couple of years:
It turns out that cryptocurrencies are playing a big role in the Renaissance because people don’t trust central banks.
However, he clarified that he does not own bitcoin or any other cryptocurrency, adding that “it’s hard to own something like that with central bank tightening.”
Focusing on the US economy, Druckenmiller stressed that the Federal Reserve is “taking incredible risks.” He stressed: We are making a massive bet on inflation to threaten his 40-year credibility and blow the most turbulent asset bubble I have ever seen.
The Federal Reserve was wrong. they made a big mistake.
If you remember, the Fed did $2 trillion in quantitative easing after the vaccine was approved, explained the billionaire. At the same time, their partners in crime, the regime, have delivered more fiscal stimulus post-vaccination than they did during the entire major financial crisis, after it became clear that emergency measures were unnecessary. rice field.”
Druckenmiller continues:
He elaborated: The inflation-ravaged US poor, middle class, and my guess is the size, duration and breadth of the asset bubble will keep the US economy going for years to come.
As for whether there will be a recession in the US, Druckenmiller said:
Let me just say this. If there’s no recession in 2023, I’ll be stunned.
In a subsequent interview with Bloomberg on Wednesday, the Duquesne Family Office’s chief executive said that policymakers at the Federal Reserve should “think about themselves and the country, and most importantly, the country.” He warned that “inflation is a killer” and pointed out that “to maximize employment in the long term, we need stable prices.”
What do you think of billionaire Stan Druckenmiller’s comments? Let us know in the comments section below.
image credit: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. This is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any product, service or company. Bitcoin.com It is not intended to provide investment, tax, legal or accounting advice. NEITHER THE COMPANY NOR THE AUTHOR WILL BE LIABLE, DIRECTLY OR INDIRECTLY, FOR ANY DAMAGE OR LOSS ARISING OR ALLEGED TO OCCUR ARISING OUT OF OR RELATING TO YOUR USE OF OR RELIANCE ON ANY CONTENT, PRODUCTS OR SERVICES DESCRIBED IN THIS ARTICLE. We are not responsible.