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Coin Stories
News Block: Will U.S. Help Fund Another War? Billionaire Likes Bitcoin, Fidelity's New Pro-Bitcoin Report, BlackRock Spot BTC ETF False Alarm, SBF Ex-GF Caroline Ellison Testifies
Oct 16, 2023
Billionaire Paul Tudor Jones expresses his support for Bitcoin amid fiscal issues. Topics covered include US funding capabilities, Bitcoin as a store of value, SEC's potential approval of spot Bitcoin ETFs, BlackRock CEO's comments on Bitcoin, a misinformed article on Bitcoin mining, and the Sam Bankman free trial circus.
11:06
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Quick takeaways
- US Treasury Secretary Janet Yellen believes the United States can afford to finance more foreign wars, suggesting that the funds for these wars will be printed and added to the national debt, highlighting how fiat money makes wars seemingly affordable.
- Fidelity's report emphasizes Bitcoin's superiority as a form of money, highlighting its usefulness as a scarce digital store of value and underscoring the growing recognition and understanding of Bitcoin's unique qualities by institutional investors.
Deep dives
US Treasury Secretary Yellen Believes US Can Afford Wars Despite High Debt
US Treasury Secretary Janet Yellen believes the United States can afford to finance more foreign wars, such as those in Ukraine and Israel, despite high inflation and skyrocketing debt levels. Yellen suggests that the funds for these wars will be printed and added to the growing national debt, which is a consequence of the fiat money system. This highlights how fiat money makes wars seemingly affordable, unlike under a gold standard where economic constraints existed. Investors like Paul Tudor Jones are concerned about the US's fiscal situation and its impact on its ability to fund wars.
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