Bitcoin Is a Big Opportunity for Investors in the Debt-Fueled Roaring Twenties

Bitcoin Is a Big Opportunity for Investors in the Debt-Fueled Roaring Twenties

David G Leibowitz is Global Macro Portfolio Manager, CIO Lebo Capital Management, and co-founder of .

I started my 39-year career as a Wall Street trader in the summer of 1981, watching the end (or the beginning, depending on your point of view) of the debt super-cycle, as Fed Chair Paul Volker raised the Federal Funds rate to 20% to cripple the 1970s energy-led inflationary spiral. Central bank actions – the raising and lowering of interest rates to fuel lagging economies or tame overly strong ones – were the backbone of my ability to identify trends, articulate value and manage risk.

That invaluable input is now dead, crushed by the “too big to fail” policies of former Fed Chairman Ben Bernanke’s response to the Great Recession, decimated by The European Central Bank’s (ECB) Mario Draghi’s 2012 “” framework, and finally buried by current Fed Chairman Jerome Powell’s March, 2020 suggestion that the Fed would provide essentially to support the economy ravaged by the COVID-19 pandemic.

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