No One Knows What Will Happen With Fiat or Crypto — Buy Peanut Butter, Says McAfee
No One Knows What Volition Happen With Fiat or Crypto — Buy Peanut Butter, Says McAfee
John McAfee, curvation libertarian, tax fugitive and staunch abet of cryptocurrencies, is offer 101 survival tips in lieu of investment advice during the pandemic crisis.
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John McAfee, arch libertarian, tax avoiding and staunch abet of cryptocurrencies, is offering 101 survival tips in lieu of investment advice during the pandemic crisis.
McAfee appeared on the left-wing podcast Aufhebunga Bunga on April xiv, in an episode devoted to the political, economical and civic mistake lines that take been exposed by the COVID-19 crunch.
Podcast co-host Phil Cunliffe, a senior lecturer at the School of Politics and International Relations at the Academy of Kent, turned the discussion towards what the present conjuncture could hateful for the digital economy and cryptocurrency sector in particular.
Hinting at the quantity theory of coin that is commonly used to champion cryptocurrencies' purported deflationary benefits — the idea that the stock-still supply of an asset helps to forbid its devaluation — Cunliffe asked:
"Given the enormous [pandemic relief] fiscal stimulus, the fact that key banks are non even printing money but simply pushing the button to make coin appear effectively out of nowhere. How does that affect your thinking well-nigh cryptocurrencies?"
To this McAfee responded:
"Zippo like this in the history of humankind has always occurred, where the entire globe is locked downwardly. I wish I could tell you what's going to happen. I don't know. Neither does anybody [...] I can tell you this, that all fiat currencies will plummet."
Pressed for a forecast as to when exactly fiat currencies would collapse amongst an unprecedented state-enforced demobilization of the global economy, McAfee gave them "2 months."
How then, Cunliffe asked, should ordinary people struggling to survive the lockdown and provide for their families — those without, necessarily, the ways to invest in Bitcoin (BTC) or other cryptocurrencies — conditions the economical disruption?
"Buy food and h2o, nothing else matters. I practise not know, neither practice you, neither does anybody know what's going to happen to cryptocurrency or fiat currency. All I know is the world is collapsing, and it will, admittedly, collapse. Nutrient keeps you lot alive if you lot have enough [...] Peanut butter, raisins and bread, you lot can alive on that shit for years."
McAfee pointed to the fact that people in far northern latitudes have long survived on a like diet under weather condition of hardship. Meanwhile, in the United States, peanut butter — and the peanut butter and jelly sandwich in item — is said to have been popularized as a ways of sustenance for armed services during World War 2.
McAfee repeatedly claimed that the death toll and risks posed by COVID-xix are minimal when compared with seasonal influenza and, more broadly, with endemic poverty-induced disease. Reflecting on what citizens' response to electric current state measures means for libertarianism, he said:
"My agreement of the homo spirit has been radically faulty. [...] not one person walked out of their business firm with a gun and said no, I'thou not doing this, you take stolen from me my personal freedom."
As reported this calendar week, McAfee in lockdown has announced that he is now working on a new privacy coin called Ghost that is designed to give people full control over their finances.
Source: https://cointelegraph.com/news/no-one-knows-what-will-happen-with-fiat-or-crypto-buy-peanut-butter-says-mcafee
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