Getting Out of Cash Is Key to Wealth and Inflation Protection, Pompliano Says

CoinTelegraph

During a recent YouTube livestream, Morgan Creek Digital co-founder and crypto expert Anthony Pompliano detailed the current post-COIVD-19 economy, noting the U.S. government’s money printing and spending efforts.   

“There is a devaluation of currency,” Pomliano said in his July 18 livestream. “The whole secret to building wealth is to get out of cash and get into assets that are denominated in dollars that will continue to go up in value over long periods of time — stocks, real estate, gold, Bitcoin, all this stuff.”

How To Get Free Crypto  

Assets up while the economy struggles 

COVID-19 prevention measures have caused economic stalling and job losses. As part of corrective measures, the U.S. government has pumped money into the country, printing and giving away money, as detailed by Pomliano. U.S. corporations and billionaires have reaped the benefits, receiving mass bailouts, he explained. 

“You have to get out of cash,” Pompliano said, urging people to flee into other assets. “Don’t fight the Fed,” he noted, referring to the U.S. Federal Reserve. 

Pompliano added:

“Don’t believe that the Fed cares about the little guy. The Fed cares about managing an economy and pushing asset prices.”

Inflation has ravaged the U.S.

The past half a century reveals large-scale inflation in the U.S. as seen when compared to gold. A chart of the stock market showing the past several decades of price action reveals a 45-degree angle upward, meaning markets have essentially risen significantly over time when valued in dollars, Pompliano explained. 

“Structurally, stock prices are going up over long periods of time with nothing to do with the underlying companies,” he said. “It has everything to do with the fact that the dollar, the denominator, the thing that the asset is denominated in, is being devalued.”

Coinbase Banner  

When valued in gold instead of dollars, however, the same stock market chart shows a declining trend over the last 49 years or so, revealing a devalued dollar instead of higher valued stocks, said Pomp.

Among the assets Pompliano mentioned, Bitcoin in particular, by nature, holds inflation protection against itself. Only 21 million Bitcoin (BTC) will ever exist, based on the asset’s original code. As world governments print increasing amounts of paper money, Bitcoin’s supply remains constant, making it a type of hedge.

Pompliano has also argued Bitcoin as a non-correlated asset on many occasions, positing the digital asset journeys a price path independent of traditional markets. 

Go to Source
Author: Benjamin Pirus


Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

FreeBitcoin Banner  

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.