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Nouriel Roubini
@Nouriel
NYU Prof; Time100, FT, FP, Forbes, Coindesk Top Mind Awards. New book Megathreats: littlebrown.com/titles/nouriel…
New York, USA
Joined January 2009
Posts
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    Here is a link to my new paper published recently on the coming AI-driven secular boom, why Tech Trumps Tariffs, why American Exceptionalism is not over and thus the stock market is not in an AI bubble, and why the Exorbitant Privilege of the US Dollar isn’t over and thus US
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    Bitcoin now below 19k, a 72% crash from its all time high in November 2021. 1000s of other shitcoins have lost 99% of their value and disappeared. And even the other Top 10 “cryptocurrencies” have lost 80-90% of their value from their ATH. This Ponzi house of cards is collapsing
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    Bitcoin crashes by 15% in 7 minutes on NO news: a rigged, totally manipulated, whales-controlled market where most transactions (90%) volumes are false as exchanges pretend to have liquidity they don't have. Massive pump & dump, spoofing, front running, wash trading! Total Scam!
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    In which way has the new alleged JPMorgan crypto coin anything to do with blockchain/crypto? It is private not public, permissioned not permissionless, based on trusted authorities verifying transaction not trustless, centralized not decentralized. Calling it crypto is a joke
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    Bitcoin drops 25% from 41k to 31K in 2 days. 15% down in 24 hours. Most speculative, risky, scammed & manipulated pseudo-asset in human history. Its true value is still negative, not even 0, given the massive polluting externalities of its mining! A crappy environmental disaster!
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    Bitcoin has no role in institutional or retail investors portfolios. It is not a currency: not an unit of account, not a scalable means of payment & is a highly volatile store of value. It is heavily manipulated: look at the investigation of  Bitfinex by US law enforcement. 1/n
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    Bitcoin falls more than 40% from its peak in less than one month. Which institutional investors are reckless enough to invest in such a risky and volatile pseudo-asset with no intrinsic value? They should be fired on the spot if undertaking such a reckless speculative gamble!
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    It was a great honor to meet President Milei of Argentina, a visionary leader who is a once in a generation global policymaker restoring economic success for his country and becoming a role model across the globe for having the courage of doing front-loaded fiscal adjustments and
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    The demonstrations and even the violence are not just about George Floyd's murder and BLM. There are now 40 million unemployed people in the US who are righly furious mad as hell. As I predicted months ago this crisis will lead to protests, riots & violence. USA is now burning!
    00:00
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    All those reckless VCs & tech firms that made fun of government policies as hampering private sector growth are now begging the feds to come & bail them out. During the GFC millions of poor households lost their homes & no one bailed them out. Privatize gains & socialize losses!
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    With BTC down almost 80% from peak (from 20K to ~4K) & all other cryptocurrencies down 80% to 99% I rest my case that this crypto bubble went bust for good. I feel vindicated. So I will take a break for a few days from this toxic Crypto Twitter. Waste of time to convince zealots
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    Bitcoin down 25% in last 5 days. Down 78% from all time high. All other top 10 crypto junk down 80-90% from peak. Bitcoin still a way to go down to its fundamental value that is NEGATIVE - not zero - given its toxic environmental externalities . Crypto house of cards in meltdown
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    There is no diff btw FTX’s FTT & Binance’s BNB: they are both vaporware backed by NOTHING (both “gas” for fees)! As former fell to 0 in days the same should happen to BNB. Like FTT, only 13% of supply is true float: the rest (150 million BNB) in 1 wallet (BSC Token Hub) owned by?