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Hedge fund legend and billionaire Paul Tudor Jones says he's long bitcoingold and raw materials, since inflation is inevitable.
The campaign promises of additional spending and tax cuts made by both Donald Triumph and Kamala Harris as they compete to become the next president of the United States could only exacerbate the inflation problem, he said.
“I think all roads lead to inflation,” Tudor Jones told CNBC yesterday, adding that the United States is at an “incredible moment in history.”
Paul Tudor Jones warns the US will 'go bankrupt' if it doesn't address spending
The United States “will go bankrupt very quickly” if the country's leaders do not soon address the nation's spending problems, he added.
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Billionaire hedge fund manager Paul Tudor Jones:
“All roads lead to inflation… I am long gold, I am long bitcoin, I am long commodities”
pic.twitter.com/CRM5nA0vp3
– Michael Burry Stock Tracker (@burrytracker) twitter.com/burrytracker/status/1848755309268918364?ref_src=twsrc%5Etfw”>October 22, 2024
Tudor Jones argued that the only way out of the current financial situation in the United States is to inflate and exceed the nation's debt burden. Tudor Jones then suggested that investors build a “basket of gold, bitcoin, commodities and Nasdaq.”
Other top public figures express concern as US national debt reaches $35.77 trillion
Tudor Jones is not the only one who believes that inflation is inevitable due to the growing debt in the United States. Warnings were also issued by the president of the United States Federal Reserve, Jerome Powell, who saying that US debt levels are unsustainable.
Legendary investor Stanley Druckenmiller also recently shared his opinion on the worsening financial situation in the US. revealing who is betting against US bonds.
According to fiscal data from the United States Treasury, the national total debt In the United States it is 35.77 billion dollars. Over the last century, the figure has risen from $394 billion in 1924 to its current level. The national debt began to skyrocket in 1981, when it amounted to just $3.38 trillion.
Meanwhile, the US debt-to-GDP ratio crossed the 100% threshold in 2013 and now stands at 124%.
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