Max Keiser Bitcoin - You Are Getting Poorer In Ignorance

Max Keiser Bitcoin - You Are Getting Poorer In Ignorance

Michael Burry, the famous fund manager, is short treasuries by $250 million. The bond bubble keeps inflating, and the value of global bonds is at a fresh all-time high at $69 trillion, despite rising inflation. For years, various money managers have been shorting the bond market because it is topping out. So, Michael Burry is losing money on that trade just like any other money manager before him. He now wants Bitcoin.

Regarding money managers, one year doesn't make a track record of any duration or magnitude of profit. Only a few can extend profit for five or six years. That's why almost no money manager or hedge fund has ever beaten the Dow Jones or the S&P 500 consistently much ever.

In the past two weeks, the US has had a new mandate whereby hospitals have to provide transparency about how much things cost at their hospitals. But the prices hospitals charge have no relation to anything more dysfunctional than any central planner. Data show that people pay ten times with the medicare reimbursement prices. All these show that the medical insurance industry, including the Obamacare program, is a complete scam. And when you add the deductible into the mix, you'll find out that you're paying cash for the procedures.

For example, you're paying $20,000 for medical insurance. But if you need to go to the hospital, you'll pay only $9,000. So, the health policy is a completely extraordinary layer imposed by corporations to extract wealth from many. It's a government-sanctioned extortion racket with no benefits whatsoever.

The inflation rate is rising rapidly. CNBC is reporting on it. For everyday Americans, inflation is a double blow to bank accounts. According to the latest Consumer Price Index, which measures changes in how much Americans pay for certain goods and services, finance prices rose an average of 5.4% in July compared to a year prior, mostly driven by food and fuel costs. That's tied with June's increase as the highest inflation rate in 13 years. Note that inflation can make it easier to pay the debt. It can even bump up salaries. But it makes goods and services more expensive and savings less valuable.

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