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Crypto: The Problem With David Stockman Is That He Wants You To Think He’s Smart

Another day, another elitist telling you how he’s much smarter than you BECAUSE you made tens or hundreds of thousands, or millions of dollars, and he didn’t.

He didn’t advise you to do that, so he’s smart, and you’re stupid.

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President Ronald Reagan’s Former Director of the Office of Management David Stockman has told CNBC’s Futures Now in an interview that investors in the cryptocurrency market are “stupid speculators” and will suffer a “spectacular crash.”

Stockman stated:

“It’s basically a class of really stupid speculators who have convinced themselves that trees grow to the sky. It will burn out in a spectacular crash. All of these latter-day speculators will have their hands burned to a crisp, and they will learn the proper lesson.”

Look, you all get to be just as meticulously stupid and clueless as you like. He doesn’t grasp the underlying monetary revolution and dollars are like Bibles to a clueless sort like that who will remain intransigent so that he was always right about everything.

Richard Nikoley

I'm Richard Nikoley. Free The Animal began in 2003 and as of 2021, contains 5,000 posts. I blog what I wish...from health, diet, and food to travel and lifestyle; to politics, social antagonism, expat-living location and time independent—while you sleep—income. I celebrate the audacity and hubris to live by your own exclusive authority and take your own chances. Read More

7 Comments

  1. fearless on January 11, 2018 at 02:51

    The genetically obese may in fact be so, but it appears they have also been shown to be more responsive to dieting. So, I guess they’re not really that disadvantaged really. They gain weight easily but they lose it easily too if they modify their diet it seems.

    “Moreover, the beneficial effect of improved diet quality on weight management was particularly pronounced in people at high genetic risk for obesity.” http://www.bmj.com/content/360/bmj.j5644

  2. Hap on January 15, 2018 at 12:42

    Stockman has been pedaling his brand of financial doom and gloom for decades. No surprise he is going after Bitcoin. Problem is…..someday , who knows when, there will be some reckoning regarding financial distortions, and he will take the credit for “predicting ” them.

    However, whatever the disaster is that happens….Bitcoin is not likely to be at the spear tip of how it happens.

    Oh well…..

  3. Big Marty on January 16, 2018 at 14:39

    Looking at the price of Bitcoin over the last few weeks, and especially today….maybe he was right…

    • Richard Nikoley on January 16, 2018 at 18:12

      You are a fucking moron of no bounds, Marty.

      My crypto portfolio is down from 325% to 275%. Bitcoin has been pronounced dead over 300 times over the last 9 years and you are not the first “smart” ignoramous.

      You are, rather, a woefully stupid person.

      …While I have a number of my 40 crypto investments up many thousands of percent, like the Disney backed Dragonchain where my $60 ICO purchase hovers between $4,000 – 5,000, all of them are in green and I don’t think any up less than 100% over the moths since I began investing last September.

      I wish to make an expample of what a pathetically stupid human organism you are.



    • dude on January 24, 2018 at 19:22

      Richard Nikoley is Nassim Taleb Lite



  4. Bob on January 21, 2018 at 06:42

    Interesting argument in Business Insider today saying Bitcoin will ultimately fail because governments will never let it succeed because it threatens their monopoly and control. The business of government is to steal your money and if Bitcoin presents an obstacle to that then they will destroy it. Any thoughts?

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