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Hedge fund legend and billionaire Paul Tudor Jones says that he is long Bitcoin, gold and commodities as inflation is unavoidable.
Campaign promises of additional spending and tax cuts made by both Donald Trump and Kamala Harris as they compete to become the next US president could only exacerbate the inflation problem, he said.
“I think all roads lead to inflation,” Tudor Jones told CNBC yesterday, adding that the US is at an “incredible moment in history.”
Paul Tudor Jones Warns The US Will ”Go Broke” If It Doesn’t Address Spending
The US will “go broke really quick” if the country’s leaders don’t address the nation’s spending issues soon, he added.
Billionaire hedge fund manager Paul Tudor Jones:
“All roads lead to inflation … I’m long gold, I’m long Bitcoin, I’m long commodities”
pic.twitter.com/CRM5nA0vp3— Michael Burry Stock Tracker ♟ (@burrytracker) October 22, 2024
Tudor Jones argued that the only escape from the current financial situation in the US is to inflate and outgrow the nation’s debt burden. Tudor Jones then suggested that investors build a “basket of gold, Bitcoin, commodities and Nasdaq.”
Other Major Public Figures Voice Concerns As US National Debt Reaches $35.77 Trillion
Tudor Jones is not alone in his belief that inflation is inevitable due to the ballooning debt in the US. Warnings were also raised by US Federal Reserve Chair Jerome Powell, who said that US debt levels are untenable.
Legendary investor Stanley Druckenmiller also recently shared his take on the worsening financial situation in the US, disclosing that he is betting against US bonds.
According to fiscal data from the US Treasury, the total national debt in the US is $35.77 trillion. Over the last century, the figure has surged from $394 billion in 1924 to its current level. The national debt started ballooning in 1981, when it stood at just $3.38 trillion.
Meanwhile, the US’s debt to GDP ratio crossed the 100% threshold in 2013 and now stands at 124%.
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