Luke Gromen believes that Bitcoin (BTC) and gold are the two best assets to accumulate for investors who want to play about the potential economic impact of artificial intelligence (AI).
In a new video, the macro -guru tells his 36,500 YouTube subscribers that he believes that AI will cause a bank crisis, because the technology options for performing tasks that people usually do.
According to Gromen, AI will eventually move jobs and suffocate wage growth, which leads to an increase in acidification of consumer loans.
“As soon as AI is making sufficient progress, in theory the deflatory impulses will not only begin to weigh on delinquencies for consumer loans, but then in the extent of the banking system. So it is unclear to me how quickly that Daisy chain of events will be processed and flow through the system.
From there, it will be a ‘yes’ or ‘no’ question, I think this is fairly easy to answer, namely that random policy makers are sidelined and cause the deflation to cause wages and jobs step in and trade to effectively preserved by growing their balance sheets.
I think we all know the answer to that question. “
Grems predicts that central banks will intervene and save the banking system again through monetary dismay. He believes that Bitcoin and Gold will rise as soon as policy makers print money to save banks from being in default.
“I think gold and bitcoin are the two best, cleanest AI are paradoxically. Because ultimately the deflation that AI is going to bring in, will force the default values ​​of consumer loans and ultimately considerable money prints, because central banks will really have no choice but to fully reserve the fault of the consumer and perhaps other forms of debts in my opinion. “
At the time of writing, Bitcoin acts for $ 101,300.
https://www.youtube.com/watch?v=J3TA7CHTHPK
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