3 Min. Gold News – Paul Tudor Jones on Bitcoin and Gold

3 Minute Gold News

A Quick Read for Busy People

A synopsis of an interview with billionaire hedge fund manager Paul Tudor Jones  by CNBC.

This longtime hedge fund manager says he believes Wall Street could be witnessing the historic “birthing of a store of value” through the popular cryptocurrency bitcoin.

This is an interview from May 2020. Next time we’ll look at an interview from December 2020 to see how Tudor Jones’ views have evolved.

3 Minute Gold News is continuing to look at successful financial gurus and their ideas on gold, geopolitics, bitcoin and the digitizing of the world.

When viewing a new horizon it’s always a good idea to stand on the shoulders of giants.

Elaine~

Topics:

Bitcoin vs. Gold
Bitcoin
Digital Assets
Gold

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BITCOIN VS. GOLD

Billionaire hedge fund investor Paul Tudor Jones was interviewed by CNBC back in May 2020.

The longtime hedge fund manager said he believes Wall Street could be witnessing the historic “birthing of a store of value” through the popular cryptocurrency bitcoin.

BITCOIN

Jones changed his opinion from being skeptical about Bitcoin to being positive.

What happened?

Covid happened and monetary inflation happened.

How do you want to be positioned in your portfolio going forward?

A “store of value” can be looked at in four categories:

1. Purchasing power

2. Trustworthiness

3. Liquidity

4. Portability

How well do bitcoin and cash serve as stores of value?

If you own cash today, you know that your central bank has an avowed goal of depreciating its value by 2% per year. So you have, in essence, a wasting asset in your hands.

Bitcoin is only eleven years old. We’re watching the “birthing” and there’s very little trust in it as a store of value.

Whether that succeeds or not only time will tell. But, every day that goes by and Bitcoin survives, the trust in it will go up.

Bitcoin is a great speculation. Jones says he has between 1 – 2% of his assets in Bitcoin. That seems like the right number for him right now.

He doesn’t see it as the “Great Cure” for all the monetary ills, but it’s a great speculation.

DIGITAL ASSETS

The digitization of the world clearly benefits Bitcoin. Jone’s children don’t even carry cash and barely know what it is.

We’re clearly digitizing the global economies.

Some countries are doing it explicitly, like India. Other countries, like China, are on their way to doing it.

Bitcoin will be that much more accessible to that universe of people that could own it as a store of value.

Every bull market has one common thread: an ever expanding universe of people who own it.

It’s estimated that between 55 – 70 million people own bitcoin. If you’re buying it then your bet is that that number is going to go to 120 million or to 200 million.

As the world is increasingly digitized, it’s hard not to think that the evidence strongly points in the direction of the number increasing.

But Jones sees it as one tiny part of a portfolio. It may end up being the best performer of all of them, and he says he kinda thinks it may be, but he’s very conservative.

He’ll keep it at a small percentage because bitcoin hasn’t stood the test of time yet, the way that gold has.

GOLD

Gold has stood the test of time and has been a store of value for 2,500 years.

Jones has assets in gold and believes it can go substantially higher.

Paul can be found on Twitter at www.twitter.com/ptj_official.

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elaine-hiking

My THOUGHTS…

I began tracking Bitcoin daily when it was under $100 US and made my first purchase when it was under $200 US. I used the first Bitcoin ATM in the world, in Vancouver, Canada.

Being a folk singer, I was watching the geopolitical movement of empires, technology and the rise and fall of power. I was in the book industry as a COO and Managing Editor, and watched that physical page world go digital. There were winners and losers as it sorted itself out. As a musician I watched the musical universal go digital, and as a songwriter I watched the symbols of history repeat. I’m Gen X, so I’ve observed the change in technology over time. I grew up playing in the woods and reading. I sang in my parents’ choirs and then led my own.

I ran a publishing company and left it for philosophical reasons. I saw hard persuasion. I’ve seen coercion and deception used in media to create an unfair outcome to benefit one group. I believe in a greater universe with universal laws.  Bending and breaking rules/laws/etiquette isnt worth it and isn’t virtuous in order to have an outcome one believes is for the greater good.

I’ve seen that happen writ small. And our world is now weaving it life-sized.

So, let’s see if we can unravel a few smaller fractals to see a bigger picture.

And in that picture we’ll be able to see further backward and forward in time.

Gold has a long term role. It underpins a world system that’s been here a very long time. But it is not used in day-to-day trading.

Most have never seen a gold coin or would know its value. But the hub of the financial wheel at this time is the IMF and BIS at the United Nations, and they settle out nations’ debts with gold.

Gold is where the capital flows when there is mistrust in governments. A government decrees that taxes must be paid their currency, but they print that currency without a backing value, devaluing it on purpose, until there’s no trust in it left.

Funny enough, when more and more public and private parties began buying gold late last century and price took off, an Exchange Traded Fund was created – smaller parties could join in the price without holding the metal.

The ETFs – paper gold contracts – track the price but you don’t own physical gold. It’s all fine until and unless the system collapses. At that point  they close the contract, pay you out in worthless cash, and only those holding the gold keep, well, holding the gold.

The ETFs made more “gold supply” which brought down the price. The physical gold stayed with the wealthy parties and the system itself looked looked like it regained its order and trust.

And now Bitcoin is here.

Other forms of media went from centralized to decentralized control.

Media changed from a one-to-many format (like radio, TV and newspapers), to a many-to-many format (like the internet). Time and space changed and bent. We were everywhere at once – like electrical light after years of following the sun to bed.

While the printing press had us moving left to right in straight lines, we were now completely off and then on. From zero to everything at once.

There’s so much more to say from a Communications perspective.

Adoption of Bitcoin is growing because that is the normal progression of this change. Some of the smaller parties are purchasing Bitcoin instead of gold. Larger and more influential parties are joining in. Bigger parties, such as Michael Saylor and Paul Tudor Jones are joining the wave.

I’m watching it like it’s a fight. But I believe the actual struggle is much larger than a single person buying gold or Bitcoin. I see physical and digital. As my friend, Josh Crumb, President and CEO of ABAXX Technologies said, “There is zero chance Bitcoin changes gold’s long term role in the markets.”.

I hold the same view.

I don’t believe Bitcoin is gold’s replacement, but I believe it could and seems to be becoming the digital symbol, or as Michael says, the “de-materialization” of it. It’s becoming a trusted way of marking value as we move from planet-to-planet and beyond.

The IMF, BIS and their groups are moving towards worldwide digital money. They know their central bank debt system failed, they state it explicitly in speeches, as Christine Lagarde recently admitted in a speech that their debt-based currency, zero interest rate policy money system had failed. She stated that the central bank’s system has divided the haves and have nots with a greater division than before. The winners won more and the losers lost what little they had. It has failed.

So she has now requested wealthy nations give the IMF more money, by taxing their citizens more, so she could give more to poorer countries and try their new system out. The pandemic will be blamed for the loss of careers and lives and economies. So the anger will not be aimed at the true creation of despair. The “Great Reset” is their hope at making the world bow to their centralized control, while our whole world is evolving into decentralization. Their goal will fail. Communism always fails.

A recent symposium had participants lamenting that private companies and countries were not jumping on board. They were submitting to the minimum requirements of the Paris Accord but companies and countries were not voluntarily submitting more than what was pressured.

The system will reset one way or another. My song, Not Much of a Holiday, discusses thiss. Which way will it go?

My song, Bitcoin Barbarian, was written based on something Max Keiser said a few years ago.

Here’s a few lyrics:

Ruled and run by a dollar and a gun,
The world is spun by some media fun,
And the Ponzi game in Caesar’s name
is virtually done
There’s a new race

The Bitcoin Barbarians at the gate
Opened wide, the peasants can’t wait
‘They were robbed while the bankers played
So the penny’s going to drop in this coin race.

Circus shows for the taxed and owned
Bread in Rome while they reap what’s sown
The Ponzi game in Caesar’s name
is virtually done
There’s a new race

That song needs a new recording. A new arrangement. The world, and I, have both evolved since that time.

I don’t see gold as money, per se. I see it as more of a backbone of what is reality in a physical world. Value is more than money, though that’s tough for some to hear.

Everything has a rhythm. Everything has a cycle. All closed systems swing in a duality – from tension to release. From trust to misuse and dissolution. Gold used as a store of value is that hard, physical thing that cannot be played with. So it’s trustworthy when nothing else is.

Tears of the sun. Energy. Malleable. Pristine. The condensing of value into its most fundamental, physical form.

I believe as Joni Mitchell said, “We are stardust. We are golden. And we’ve got to get ourselves back to the garden.”

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Thank you to Jim Rickards for including me in his bestselling book The New Case for Gold.

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Nothing on this site is intended as individual investment advice. We’re all watching which way the wind is blowing.

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Bitcoin is at $23,979.95  USD

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Gold is at $1,881.26 U.S. per ounce.Screen Shot 2020-12-19 at 1.46.56 PM

via Gold Price

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From the recent Cariboo Gold Rush Trail trip.

I’m creating jewellery from ethically sourced, fair paid, locally placer mined gold from the Gold Rush Trail. Available soon.

IMG_1675IMG_1634IMG_1304IMG_1335

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Coins and Crowns

words and music Elaine Diane Taylor
SOCAN/ASCAP
from the album Coins and Crowns

Coins and Crowns is featured in Episode 1 of Mike Maloney’s documentary series Hidden Secrets of Money.

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Not Much of a Holiday (Bank Holidays and Media Persuasion)

words and music Elaine Diane Taylor

Single available on iTunes and wherever you like to purchase your music.

Available also on the site Store.

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A Terrible Breeze    (War and Social Media)

The news comes down
A little bluebird sings
Words of war
Fire and furious things
Of testing might
‘Til no patience knows
If keeping still
Still keeps you safe at home

It’s a terrible breeze
They speak of today
Of threats that used to live a world away
We all know wind
Can blow both ways
And a terrible breeze can blow it all away

A worldwide net
Sees our village grow
Until we all forget
What each one used to know
How a blind bird’s wings
Can reach the shore
And turn the wheel of peace and war

Village fools sinking down, down, down
Debt and gold wound in numbered shrouds
Deal of a life it’s bread and clowns
Can we afford another go around?
The news comes down.

It’s a terrible breeze. The news comes down.

words and music Elaine Diane Taylor

Single available on iTunes

Available also on the site Store.

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AlbumCover.PreparingfortheFall

Preparing for the Fall live boutique album available for digital download now — featuring Wag the Dog, Black Swan Dive,  American Pie and Gods of the Copybook Headings. Also available on iTunes, Google Music, Amazon Music and major digital distributors.

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The Gods of the Copybook Headings

words by Rudyard Kipling and music by Elaine Diane Taylor

from the album Preparing for the Fall.

The copybooks of the early 1900s gave us all the wisdom we need. The sayings that were copied are the truths, the gods, of our world. All the empires who followed the gods of the marketplace instead have fallen, and there’s terror and slaughter when the gods of the copybook headings return. The lyrics are by Rudyard Kipling. One of my gurus.

Another Week on Wall Street

words and music Elaine Diane Taylor

from the album Coins and Crowns.

A little grease (Greece) is floating out to sea, and little pigs (Portugal, Italy, Greece and Spain) are bobbing up and down, they’ll send a storm and we’ll see, when the tide goes out who’s naked on the beach“. The world is changing as we know it.

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Nothing on this site is intended as individual investment advice. We’re all watching which way the wind is blowing.

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