Erik Peters, Investment Director of One River Asset Management, in a column for ZeroHedge, shared his opinion on the possible purchase of bitcoin by Elon Musk and the events surrounding it. One River in December disclosed its intention to concentrate up to $ 1 billion in Bitcoin and Ethereum, having already invested $ 600 million at that time and received the support of billionaire Alan Howard, and, judging by subsequent reports, it has fulfilled its plan.
“Looking back, it was inevitable,” Elon wrote on Twitter. This is undoubtedly true. Everything, turning back, is inevitable. Musk just added “#bitcoin” to his Twitter profile, the journey is over, destiny is digital, inevitable.
Elon may not have bought his bitcoin yet and made an advance notice of intent, raising prices ahead of the purchase. But sober people don’t do that.
Only central banks do this. They tell us what to buy, how much, and when, knowing that those with the capital are ahead of their purchases. For decades, this has helped bankers distort the price of money, credit availability, and asset valuation.
Looking back, it was inevitable that those with the means to stay ahead of the Fed’s manipulation would accumulate far more wealth than those without.
Looking back, it was inevitable that those who do not have such funds will be outraged at those who have them.
And it was inevitable, looking back, that in the absence of a sensible policy to rebalance the system, those who took advantage of the Fed’s policies would increasingly confront those who did not. Naturally, the latter will be much more numerous than the former, and ultimately they will prevail in full-scale conflict.
Consequently, looking back, it was inevitable that those who have the means to stay ahead of the Fed’s actions will find ways to get their politicians to give just enough money to those who do not have it, so that they do not enter into such a confrontation.
And while they argued over the approval of the $ 1,400 checks, it was also inevitable that those without them would rise up in unexpected ways to attack the institutions they blamed for the injustice they experienced. Storming our Capitol. By organizing short squeezes of our Citadels (note – Citadel is an American multinational hedge fund, the main enemy of investors from Reddit).
It was also inevitable that such conflicts would be the prelude to a troubled decade.
And of course it was inevitable, turning back that, while central banks and politicians became increasingly desperate to fill the growing holes in their own creations with printed paper, sober people sought refuge from such things.