Key Points From Jeffrey Wernick Sessions

May 18, 2020

Jeffrey Wernick was the first speaker for the Crypto Asia Summit. You can find the recording of his presentation here.

Here are the main points from his talk:

Stock buybacks have been driving the price increase in stocks the past 5 years and the Fed has been supporting companies using cash flow to buy back stocks.

The government is pushing debt upon its citizens with inflation. What’s the point of saving if the value of that money will be worth less due to inflation? Bubbles have been created all over the world through this debt to the point that there is no margin for error.

“Sound money is what you hold. Shitty money is what you spend.”

Paper money regimes throughout history have always gone back to a hard money regimes like gold or bitcoin. Gold doesn’t have as good of attributes as Bitcoin making bitcoin the bets hard money option we have. Any money managers not allocating capital to bitcoin are being negligent to their investors.

Third parties and controlling authorities cannot be trusted as we have seen with data breaches from Facebook or crooked governments. Distributed ledgers create more trust through transparency. The future should create economic activity flowing seamlessly across borders.


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