CandleFocus Arthur Hayes says Donald Trump’s election win is the US dollar’s funeral – “Bitcoin is king”
2024-11-12
Author: Content Editor
Arthur Hayes, co-founder of BitMEX, predicts that the return of Donald Trump to the White House will mark the end of the US dollar. Hayes believes that Trump's policies will transform the American economy into a state-run machine, resembling China's blend of socialism and free-market control. He argues that the US abandoned true capitalism in the early 19th century, with the creation of the Federal Reserve in 1913 marking a shift towards privatized gains and socialized losses. Hayes criticizes Trump's stimulus efforts, accusing him of printing money excessively and creating a trend of "QE for poor people on steroids." Hayes also highlights the rise in inflation and the negative impact it has on bondholders and savers. As a response to this economic shift, Hayes recommends investing in stocks, gold, and Bitcoin as a hedge against the debasement of the US currency.
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