Paul Tudor Jones: ‘Inflation … [Is] the Single Biggest Threat to Financial Markets and Society in General’

The Breakdown

Blockworks

Investing, Business

4.8 • 786 Ratings

🗓️ 22 October 2021

⏱️ 16 minutes

🔗️ Recording | iTunes | RSS

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Summary

This episode is sponsored by NYDIG. Last year, Paul Tudor Jones wrote a paper called “The Great Monetary Inflation” that would end up creating narrative motivation for many traditional retail and institutional investors to allocate to bitcoin as an inflationary hedge. On today’s episode, NLW looks at the rising discussion of inflation in the media and in mainstream American society. He discusses why the inflation conversation, even more than the ProShares bitcoin futures ETF, might be driving bitcoin’s current rise. He also shares Paul Tudor Jones’s latest comments from “Squawk Box” on CNBC regarding the inflation issue. NYDIG, the institutional-grade platform for bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW. Enjoying this content? SUBSCRIBE to the Podcast Apple: https://podcasts.apple.com/podcast/id1438693620?at=1000lSDb Spotify: https://open.spotify.com/show/538vuul1PuorUDwgkC8JWF?si=ddSvD-HST2e_E7wgxcjtfQ Google: https://podcasts.google.com/feed/aHR0cHM6Ly9ubHdjcnlwdG8ubGlic3luLmNvbS9yc3M= Join the discussion: https://discord.gg/VrKRrfKCz8 Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownNLW “The Breakdown” is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Only in Time” by Abloom. Image credit: Michael Nagle/Bloomberg/Getty Images, modified by CoinDesk.

Transcript

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0:00.0	We're in for interesting times, and I think the most important takeaway is, in fact, not the
0:04.2	implications for Bitcoin per se, but just the overall narrative shift, or perhaps a better word for
0:08.9	it, is consolidation. Inflation, the traditionalists are telling you, is here to stay, and it's
0:14.1	going to have an impact. And when you have 62% of American voters agreeing with that position,
0:19.2	there are going to be political implications one way or another.
0:23.7	Welcome back to The Breakdown with me, NLW. It's a daily podcast on macro, Bitcoin, and the big
0:31.1	picture power shifts remaking our world. The breakdown is sponsored by Nidig and produced and distributed by Coindesk.
0:41.4	What's going on, guys? It is Thursday, October 21st, and today we are revisiting our old friend Paul Tudor Jones and his assertion that inflation is not transitory and also represents the single biggest
0:56.5	threat to financial markets. Let's go to yesterday where we left our story. Bitcoin had reached
1:04.2	new all-time highs and there was much rejoicing throughout the land. There was lots of discussion on how
1:10.0	retail hasn't even really arrived yet.
1:13.1	Analysis about the fact that whales and long-term holders seem to still be buying into the market
1:18.2	rather than selling away from it. And of course, the nature of crypto markets and crypto cycles
1:23.8	being what they are, people immediately started discussing how fast we'd see a cycle into
1:29.1	alts. This is the way people said that crypto markets work. Bitcoin prints a new all-time
1:34.3	high and then people rotate into alts, and then everything falls off, and then some new
1:38.3	catalyst brings Bitcoin back to a new all-time high and so on and so forth forever.
1:42.7	For what it's worth, I think Alts are one of the stupidest
1:45.3	leftover terms in crypto. It comes from a time when things were actually trying to be an
1:50.2	alternative to Bitcoin, and now it just means things that aren't Bitcoin, which is a pretty
1:54.3	useless description, because everything is not Bitcoin. Either way, we've seen pumps across a number
1:59.7	of different coins, but again, this is all
	...

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