Raoul Pal Bitcoin - The Best Way To Invest Right Now! (Eth Or Btc?) Aug. 20, 2021

Bitcoin or Ethereum

In this video, Kevin O' Leary, AKA Mr. Wonderful, Peter Schiff, Anthony Saramucci, and Raoul Pal debate on Bitcoin. Among the four guests, Peter dismisses crypto and also defends the money-printing and other moves by the government aimed at averting recession. The speakers also choose where thry will rather invest, bitcoin or ethereum.

Here is the summary of the debate:

Asked about his position on US dollars, Raoul has this to say:

" I actually long US dollars because I think the dollar is going up because the work is slowing down again. So, I long US dollars and long-term bonds. Those two and some carbon futures in Europe are the three trades that I get in the world. The carbon futures trade is a fantastic long-term story that's driven by the incentive system within the EU to raise the price of carbon. And these futures are directly linked to that. Apart from these, I'm 100% crypto.

Saramucci, however, notes that,
"We're basically more or less out of the bond market. We've got to reduce our credit exposure because of the lack of interest rates in that area. And we're in growth stocks. So, I don't own dollars, but I own a lot of US dollar-dominated growth companies.

Asked if he is not concerned that the market is at its all-time high and repressing itself, Raoul points out that

"Everybody says the market is expensive and therefore it's too risky to enter. If the markets fall 15%, what is the function of central banks currently? To print more money and make stocks go back up. We had the largest recession in recorded history recently because of the ridiculous amount of money-printing. Both the government and the central bank use the money-printing strategy all the time to a very recession. So, it's a weird world where buying puts used to be a profitable strategy when you got the timing right. But actually, it's buying calls that actually makes more money.


Defending the position of the government, Peter says that the underperformance that Raoul was referring to is going to end when money-printing unleashes much greater increases in prices of raw materials and consumer/producer prices. He adds that "when we get into a very high inflationary environment, a lot of money is going to move out of those growth stocks into companies that earn money and pay dividends that can raise and keep people above inflation."

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