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Anthony Scaramucci sits down with the hosts of the “Bitcoin Magazine Podcast” to talk about his short time with the US government and the current trajectory of US fiscal and monetary policy.
Scaramucci is concerned about how things are going in the United States when it comes to money printing, and he paints a worrying picture if the country doesn’t get back on track with its fiscal policy. “My last point concerns a revolution. I hope we can solve these problems. I am optimistic that we can solve these problems without revolution. However, if we continue on the current trajectory, if we want to create another $9 trillion…you’re going to have a lot of upset people. Sarmucci doesn’t think commodities will be the tell-tale point of when things get tougher, because he thinks current political trajectories will create a bigger problem than commodities. His solution would be for transformative leaders to slow down irresponsible monetary policy and be honest with the public about the need to tighten money printing in order to get back on track.
Surprisingly, Scaramucci thinks bitcoin is still speculative. He says, “I don’t see bitcoin as an inflation hedge or a digital store of value. I don’t see that. I still see bitcoin as a technical story of early adoption. Scaramucci compares Bitcoin as it is now to Amazon when he was 13. Amazon was extremely volatile then, but it’s much less volatile now that it’s saturated the market.
One of the things that Scaramucci says will lead to greater adoption is the approval of a Bitcoin exchange-traded fund (ETF). “All of this regulatory fear, uncertainty and doubt has been exacerbated by the creation of this cash ETF…I have to have it in my portfolio to sell it to people.” No matter how