Former Fed Chair Alan Greenspan: Crypto Is Too Dependent on 'Greater Fool Theory' to Be a Desirable Investment
Greenspan served five terms as chairman of the Board of Governors of the Federal Reserve System from 1987 to 2006. He was appointed chairman by four different U.S. presidents. He joined Advisors Capital Management in September 2016 as Economic Advisor to the asset management firm. The collapse of FTX was not a result of lax risk management, inadequate accounting procedures, or some feature inherent to crypto — it was purely fraud.
He probably is 90 years old, how does he remember the name of Crypto ?
Unlike the suckers who have been kicked around by the FED since they came into being.
Nurhila_Lia The more he talked bad about crypto the more I buy more crypto
Buy, buy,buy !!!
Takes one to know one 😂
Crypto may be, but bitcoin is NOT. I admired this guy back when he was a young disciple of Ayn Rand, but he sold out over the decades to big government statism and central bank tyranny.
We’re on the right track
Why trust or believe anything a central banker has to say unless he supports dissolving the Federal Reserve.
Says the guy that blew massive asset bubbles instead of letting the market do its thing , shut up old man.
So that's like the USD ....!!!
You can only argue that it's not 'too deoendent' infact it's completely dependent 🤔
Then how about gold? LoL
people get old, will start to get confused
Old school don't understand new tech
This is true for every asset existing. Gold, Diamonds, Fiat.. if people stop believing in their value, there is no value besides value for the raw material which is a tiny tiny percentage of what people pay for it right now.
I believe he is talking about central bank’s money, only fools and slaves believe in that crap
The question isn't whether it's true or not it's whether uncle Al really believes it
This Methusalem doesn't look like he understands the new world. Sorry not sorry.
He's right.
Fiat depends on this theory too, isn't it?
🤦🏼♂️😂
So bottom is near then 🤓
The Father of Global Crisis is talking bad about Bitcoin. Dah 😅
He will be the greater fool.
Agree. I make a little money on it a few years ago, then, realizing that it is completely unpredictable, stopped buying it.
Classic bottom signal.
Good news for Crypto
One Panzi recognizing another.
Because it's still in the very nascent stage. Once the underneath tech is properly understood, we'll start seeing the innovation & applications coming up
Hey you described Fiat system perfectly.
Alan is 96.
Since the Jekyll Island US dollar was created by the rich white guy cartel it has lost 97% of its value through inflation. We are the greater fools already
a men from middel age
In a sense, any investment is based on greater fool theory, unless it's for survival mode & commodities like water, food & shelter. Smh on 🦖 contradictory values & views 🤦♂️
He looks pretty old
Sure, agreed with the crypto description. Why he didn't' mention it's not the case with Bitcoin.
amenable to/for fools?
Two things: tech & Industrial Revolution.
It’s true that the crypto space is quite volatile at times, yet DeFi projects are revolutionizing access to global markets in ways Greenspan couldn’t have imagined. The “greater fool” theory isn’t a bad thing, if executed responsibly. DeFi Blockchain
Agreeing with former Fed Chair Alan Greenspan - investing in crypto is risky and too reliant on the “greater fool theory”. bitcoin cryptocurrency
So early
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Ongoing $shib Distribution lvanWeb3 , Hurry up! shiba
Well the ''pre sales'' and ''private sales'' make the retail buyer a fool from the get go.
BillGates said this in June 2022...
Old guy - nice - whatever - zero connected. Doesn’t even own a smart phone. 🤡🤡🤡
Hahahaha...to old to understand crypto and King Bitcoin !! 🤣🤣🤣🤣
When will these people understand that “crypto” is a ridiculous term? That’s like saying “stocks are good investments”. Bitcoin is king.
He’s right
I thought he was dead.
Old Mind
Dinosaur doesn’t like the meteor
This was amazing lvanWeb3 thanks for the rewards
Game over Greenspan
Never seen anything super as lvanWeb3 $shib Rewards distribution
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