Manage episode 371328450 series 3378373
Headlines this week claimed that inflation rose only 0.2% in June, but 40-year professional trader, Todd "Bubba" Horwitz, begs to differ. "Look at what you're spending yourself, and then look at the BS numbers the government gives you and tell me if we've had a relief this month." With the recent rush back into equities, he asserts that this is the "greed phase of the market" and that "before this move is over, we will see 50 to 70% to the downside."
Regardless of the BRICS' proposed adoption of a new gold-backed currency, Horwitz explains that he's a buyer of the precious metal "regardless of what's going on in the data...it's a buy at any time because you're playing long-term." When it comes to cryptocurrencies, Todd is adamant that the government's latest attempt to interfere with cryptos failed and that he's adding to his bitcoin (BTC) position because "people are finally waking up and realizing that they're tired of the central banking system around the globe stealing their money and misspending it." He concludes by echoing the current sentiment of the American people. "Between all the things that are going on with the education system, break down of the family unit and the political system - we have disaster brewing," he says.
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