Nouriel Roubini Reacting to Tesla’s Big Bitcoin Buy: SEC Should Investigate Market Manipulation
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- เผยแพร่เมื่อ 9 ก.พ. 2021
- NYU Economics Professor Nouriel Roubini, reiterating his objection to bitcoin, lashes out at Tesla and other corporations that recently announced their investment in BTC, calling it irresponsible corporate behavior and accusing them of market manipulation. He calls on the SEC to investigate.
#cryptocurrency #digitalfinance #finance
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In my view he's basically right that Bitcoin is a bubble and that Must is manipulating the market. Even if he is wrong he at least told his truth. On the other hand that 3 bitcoin babysitters there brought no value to the discussion, they're just disrespecting him.
You can tell what he says absolutely goes over their heads... All they do is sneer and scoff, this is next level hubris. Time for a fresh humblepie.
Well expressed.
I love Roubini lol. You can tell he'd be a liability after a few drinks at a house party
LMAO. Good one
he's the man
The funniest part of this video is that the other three actually believe they know better.
BTC hit $64.8K today. Sooo.. yeah, I'd say they do know better...
@@SBFRuggedYou Bubbles last years. Even the Tulips one. Madoff's lasted 20 years. So what's your point?
@@DJVARAO Sounds like someone is salty because they don't own any btc 🤣🤣🤣
@@SBFRuggedYou As salty as not winning the lottery for not buying it. 😁
@@SBFRuggedYou Bittard
Right or wrong... either way, this guy is hilarious 😂😆
He’s absolutely a complete joke!
@@trevonsmith7176 Guess he could have a future in stand up. The other 3 people were laughing most of the time he was talking. Almost to the point of being rude 🤷♂️
I SERIOUSLY thought wait how am I missing this picture of his! EVERYTHING he said seems wrong to me..
Then I googled... His "Economic hero is Keynes" and seriously I'm probably wealthier than him and I ain't rich. So for an OLD economics professor to not have made anything beyond his salary kinda proves he's not exactly one you would take investment advice from 🤣😆
this guy is right, give it some time and investigate his arguments well
This dude needs to set up daily twitch or TH-cam livestream and just rant, this shit is hilarious 😂 😂 😂 😂
this is called cognitive dissonance
not an argument
Absolutely. THIS GUY HAS NO CLUE
@@chillwill3351 are you sure?
Roubini is a trip ,I agree with him
Reading the comments here is super interesting. Roubini has a lot credibility if you look at his history. And he is definitely on to something pointing out what Musk is doing. It does feel very irresponsible for a growth company that still hasn't turned a profit to take it's investor's cash and buy a volatile asset. If the investors wanted exposure to Bitcoin, they would buy Bitcoin, not Tesla. They should be buying Tesla because they want exposure to the massive potential presented by making luxury electric vehicles. Seems like a disregard of fiduciary duty.....
"Roubini has a lot credibility if you look at his history."
Uhh... lol? Roubini was right one time regarding the 2008 housing bubble. Other than that he has been wrong on literally everything.
@@lykanthrop8619 yeah…I agree with that now. Watching the market for the last year I realized my views from a year ago were dead wrong. The reality is the market is crazy undervalued and the FED will never ever ever let it go down
@1:50 did he just say Michael Saylor is a coke addict?
Roubini - rekted!
@@brads008 bitcoin has no use case, and is also highly centralized. Bitcoin is a showcase, without realworld use - right in this moment and also not in the future. This is due to technological limitation of bitcoin.
@@brads008 dude mike saylor is a coke addict dude looks like a character from wolf of wallstreet
@@brads008 LOL did you just really write that, i am right, am i?
@@brads008 do you know jordan belfort ? he was coke addict and worth $200m once. look at microstrategy stocks, it peaked at dot com bubble then dumped, now its again going up because of bitcoin. dude is a just a opportunistic, for 20 years he did nothing but snorted coke with his dot com bubble scam winnings. Dude isnt "sound" if he was he would have invested back in 2013 or in some innovative blockchain companies instead of old slow tech like bitcoin. he's just lucky gambling coke addict with 20 years of experience of how to get people buy into his ponzi scheme.
He's right about everything though, Microstrategy, Tether, environmental impact. There are coins that actually have real utility.
This man needs his own reality show. I would watch it, lol.
Comedy show also it would appear.
His arguments sounds like arguments against the Internet back in 1995
you do know there is tech that has failed and some that have succeeded, pointing out when ppl were wrong about a specif time doesnt make it the same as something thats happening today.
One of the best analogies I heard on cryptos.
Thanks God someone speaks the truth
Sounds like someone didn't buy any Bitcoin
hahahaha
Exactly. This clown is salty and still crying. 🤫 Stfu
Indeed.
not an argument
hahaha... boy is he bitter. Nouriel is the only guy I know that calls Bitcoin a shitcoin. He goes in that shitcoin rant mode and does stop ranting.
He deserves more respect than what he’s given here. Hive mind is going to leave so many bag holders.
It's not even hive mind. It's grifter mind driven by greed.
Why would I respect some prof? Profs have no clue. Otherwise they wouldn't be profs but rather spend their time making money. Money as in actual money, not some lousy salary. If you google his net worth it's said to be about 1 million. Don't want to brag or something, but my annual income is about twice as much. So why would I respect him? From my perspective he's just a poor old man who, with one single exception, has a track record of being wrong on literally anything. I give you one advice: Respect people who actually are succesful, not prattlers.
@@lykanthrop8619 So you only respect people who make money and have a high net worth? What a sad human being you are. Maybe there are people like him who do not want to work in financial institutions, but who want to educate others? How do you suppose we would educate new economists if there weren´t people like him and everybody would be working in big financial institutions? Ever thought about that? In addition he has been right about some of the people behind some of the crypto currencies who have actually been prosecuted after he said that the SEC needs to look into those. In addition: Where do you think he is wrong, when he says that BTC / Crypto is not a means of payment, is not a store of value, is not a currency? Or are you too imbecile to have an opinion about that?
Laughing wile someone like Nouriel explains his point of view just shows arrogance and poor education.
i think the technical term here is "butthurt" :D
he friends with peter schiff
Negative rates are insane. It is madness and desperation.
So he just called fed reserve a ponzi scheme? Not gonna argue he probably knows better
No, he didn't say that.
Rouriel Noubini is right
And I thought Peter Shiff was entertaining... but you know when you know you’re in the right and very few are listening it’s hard not to sound shrill!
Roubini seems grumpy
Thanks for your comment❤.you should reach out to my acc manager for proper guidance,supervision and more profit
What's @pp
+1 8 1 3 3 2 0 4 5 0 7......
He's mad he missed cheap Bitcoin
While everyone is admiring the emperors new clothes it's important to hear an alternative point of view. Perhaps the emperor is naked....only time will tell.
Maybe. But he was saying exactly the same at $56 per bitcoin
The biggest problem I have with the nocoiners is that they can’t consolidate on a rationale for bitcoins future failure. Will it be Tether failing? Will it be everyone realizing that it has “no value” or general loss of public confidence? Etc etc. You can be sure they’ll take credit when a big sell off happens though. It’s easy to hit your target when the entire board is your target.
Has he shorted Bitcoin ?
If he thinks Bitcoin is going to zero, short it or shut up.
@@gianf3952 He's still right : this shit has absolutely no usage and is not backed by any assets.
It's a gigantic gambling machine / ponzi scheme, consumming as much power as Argentina !
@@franckleroy6776 yup! Have fun staying poor. Muh planet! Hahaha
People in a cult hate when you tell them they are in a cult.
This is a little like your ex standing up and launching into a tirade when the minister asks if there is anyone here who sees any reason why this couple should not be married...
the michael jordan of bad calls
The people commenting here in favor of Bitcoin are saying the same things people said in 1999 during the NASDAQ bubble, which burst the following year. Oh, well. Every generation has to learn the hard way, I guess.
...this video will age terribly...Roubini sounds like a pouting toddler who missed the train. Too bad for him.
Are you really considering yourself as a more rational person than Roubini?
@@cemyeniasir3886 mhm...i would like to ask you another question: would absolut rational and clever people could have predicted the future of the internet in 1994 ?? i think to explorate and predict the development of bitcoin in the next 5-10 years not only rational thoughs and lots of experience in "old" systems are helpful....anyway i am not claiming that a know what the outcome of bitcoin will be. Maybe I'm the only one who hears a certain frustration in Roubini's statements, but that wouldn't be necessary. Those who think Bitcoin is cool should buy it - and the others should just go their own way without contantly bashing BTC. We will see in 5 years how the story ended.
@@patkoono l strongly advise you to read the book by Charles Mackay 'Extraordinary Popular Delusions and the Madness of Crowds', then you will understand that stories like bitcoin are not new.
He knows what he is talking about.
So he must be expecting Tesla to sell all its bitcoin at some point when enough profit is made. Lets wait and see.
Common wisdom and everything that these guys knew is out the effing window peace
Someone once told me it’s crazy that I could order a car, a pizza or buy a house with just a tap on my phone. Yet here we are.
Proof “old” is not an age thing. It’s a mindset, thing. Thus I say...”You old fool.”
BTC is going to go to $200k, drop back to $100k, where it will find a new higher low and he will be screaming “I told you it was a scam!”
:)
Are you sure about that?Roubino predicted crypto was a scan and looks like SBF proved him right. It’s being manipulated on a level that even Madoff never could.
WOW!! Did this guy just give away the whole playbook? This is priceless.
00:25 it looks like he is just reading notes written on the wall behind him lmao. Same talking points over and over again
People were laughing in 2006 too, and then they were crying...
bitcoin was made in 2009
@@MONSTERKILL2013 I think he's referring to the housing crisis when people were saying they were shorting the housing market and people were laughing at them.
when i buy my house and land with Bitcoin soon does that make Nouriel .................. ?
Your digital house lol
Is this boomer seriously defending the Federal Reserve and the fiat currency and calling all crypto "shitcoins"??? 😄🤣😂
As well he should.
As an economist he see the big picture and the expected outcomes of an efficient economy. He called the reserve a ponzi scheme.
"One Of These Things Is Not Like The Other"
I own a modest amount of crypto, bitcoin and shitcoins, and I scrolled through the comments looking for anyone with an argument outside of the usual braindead tripe like "enjoy being poor" etc etc and found nothing. The intellectual capacity of this "community" is pathetic for a group that thinks they're going to change the world.
It’s a groupthink buy to the moon pro crypto cult. The whole crypto space makes little sense at solving any real problems in society the more you look into it (which I think in a way is part of the fraud and delusion of it). In my view 95%+ of the crypto space is nothing but an entertaining gambling tool
My grandfather used to say don't laugh at people who speak out of their ass cause u r wasting ur energy
The hosts are giggling because his language is so blunt AND colorful, and they are not understanding him. The lady in the upper left window showed clearly that she misstated Dr. Roubini's entire stance about Bitcoin.
He should be listened to especially regarding bank negative rates
Nice all seeing eye Roubini ;)
Wah wah wah mr gloom back at it
the host and other panelists are laughing on him right now..few years and they'll be crying.
Everyone laughing... but I haven't heard anyone dispute his logic about tether manipulation 🤔
Sure, Tether is fishy because of the lack of audit. I get it. However, where USDT in one year has increased by approximately 6.8x, USDC - a HIGHLY regulated stablecoin - has increase by 16.2x.
USDCs growth has almost tripled the growth of USDT which should signal that there MIGHT actually be real demand behind the USDT-growth.
Nouriel Roubini is just obsessed and he will never ever admit that he's wrong. Otherwise, his entire career would be a waste because Bitcoin and cryptocurrency demises everything he's ever believed with the backing of academia. As an economist myself, I can kind of understand his fear - because that's really what it is.
@@rexmentula1089 he’s wrong about Tether? What exactly is he wrong about?
@@craig5261 No, I'm saying he's neither wrong or correct. I'm saying he does not know if Tether is a fraud and a price-manipulator - he's just speculating based on the lack of audit (and probably on hopium).
The baseline is: For USDT to be stable at 1 dollar, Tether need to "print" more USDT if there's an increase in actual demand. Nouriel Roubini do not believe that there's actual demand ("real" dollars, euros, yens etc) behind the "printing" of USDT, and is suggesting that Tether prints USDT out of thin air in order to pump the price of Bitcoin.
What I am saying is that if we look at one of the other stablecoins, like USDC - which is a highly regulated and audited stablecoin (which suggest that the demand behind the coin is real and fully backed 1:1) - you can see that the growth of USDC is almost triple of that of USDT the last 12 months (USDT =6.8x increase in mcap and USDC = 16.2x increase in mcap) ==> Hence, I use the growth of USDC as a benchmark to speculate on whether there's actual demand behind the growth of USDT.
So, if there's an 16.2x increase in the mcap for USDC (highly regulated) - could we not assume that the growth of 6.8x of USDTs market cap is reasonable?
@@rexmentula1089 according to coinlib, nearly all the daily flow into bitcoin is Tether. USDC doesn't even register. What source are you using?
All the crypto fan boi's go quiet when the word tether is mentioned. They choose just to ignore it and hope they get rich quick before it unfolds while they are holding the bag.
Ah so central bank is printing against assets? Oh i see that "asset" is other countries signing an IOU.. sovereign default risk in conveniently assumed to be 0, just like 2007 when real estate was assumed to always " sell " for higher
I earned a good amount of money in crypto. But I still agree completely with this guy.
same
bottom left dude looks like young version if the old guy in that UP movie.
🤣
@1:12 Roubini is the lovely bird you want to hear every morning, he just makes your day full of joy and color🙏
Roubini may as well have just said fart noises. The only currency that I can 100% confirm is a shit coin is fiat currency.
Lol, who wants to touch Central bank digital currency when interest rates go to “-5% or whatever” .
He is angry because he missed the train. He still doesn't understand. What is he a doctor of again?
Roubini is so funny, and so right. Crypto is such a scam.
@wade You do realise it has no intrinsic store of value. Cryptos depend on the world having electricity. A nuclear war, or a coronal mass ejection can knock out the electricity grid. Even if we don't go to this extreme, say governments decide to criminalise all cryptos, say if they were used to fund another 911, then they can easily shut cryptos down, or at least people would be too scared to go to jail if they trade them.
@@SzTz100 Yep. In addition the mining of crypto / BTC is polluting like crazy - and then there are all the claims from Crypto-people about how the mining farms are allegedly all running on solar power and power from wind turbines - which is a massive lie as confirmed by a recent article in The New York Times: - quote: *_"Bitcoin mines cash in on electricity - by devouring it, selling it, even turning it off - and they cause immense pollution. In many cases, the public pays a price"_*
Old man yells angrily at magical internet currency
Do you believe in fairies and pixies?
He’s worth less than 300k, why do these shows keep inviting Dr Doom?
He is getting old and he is angry because he don't understand the new technologies around him.
On the other hand he is probably right about tether. But he forgot that the silver and gold price is also manipulated with the futures market. And not to mention the GME and others which stocks are shorted with more then 100%.
Please put this guy in a live debate with Raoul Pal.... He will be torn to pieces.
Are you a BTCoiner? I'm always happy to 'debate' you in a verbal discussion.
@@user-ks1hp2pb5g Supply of Fiat is infinite so the price potential of BTC is also infinite... :)
@@ogcaveman8120 WDYM?
At 0:27 you can see the All-Seeing Eye inside a Pyramid on his sweat shirt.
So dollars are good.. crypto BAD! (SMH) Do you really think BNY Mellon, Mastercard, PayPal, Tesla, MicroStrategy and the long list of other companies that have invested in crypto didnt think about or research this?
I thoroughly enjoy how they laugh at crypto like it’s a joke. If people want to put their money in it.....let them. But to sit there and make fun of people because of the risk they choose to accept is just petty and shows just how out of sync they are with a market valued over 1 trillion.
What a bitter man.
To be fair to the interviewers, I think they were caught off guard with the shitcoin stuff and his overall angryness.
It's fascinating to get a glimps of a giant bear in the wild fiat forrest.
Sure, Roubini has been way wrong about bitcoin and crypto in general, but if you invite him to speak, and he accepts, you should show some respect and listen without laughing out loud. Don't be mean just because crypto is up a lot. If you want to humiliate Fake Satoshi (Craig Wright), go for it, but this guy is a Professor with an opposing opinion and not just another grifter, so let him state his opinion which CoinDesk obviously wants him to state.
Oh please. He was laughing because Roubini is a funny dude . And let's stop pretending that just because someone is a "professor" that this somehow demands respect of any kind. It doesn't automatically command respect. In fact, privatized educational institutions of America have failed us all and created generations of America-despising young armies of clueless sheeple. That is all thanks to professors. You can take your righteous indignation for professors and shove it.
No offense.
Yeah, and spawn NPC SJW's who probably get brainwashed to believe that only alt-righters and white supremacists use Bitcoin and crypto. 😄
I love this man. It's old school folks who don't understand technology that keep the price low for us all to get in.
😂😂😂😂😂🤫🤫🤫🤫🤫
🙈
He seams to understand pretty well
Lol he is right about everything btc is the most manipulated asset but i idont give Fuck about crypto! No hodl for me.... Im trading crypto to make us dollar
Nouriel Roubini seems like he has lost his mind? Is he ok?
Sounds like someone is shorting bitcoin 👀😂
I guess he hasn't heard about ETH 2.0
he doesn't even know decentralised finance, exchanges decentralised lending so many more
Who opened the cage door letting the dinosaur out?
I am fascinated by Nouriel. He is something of a no-nonsense curmudgeon. I agree with him about shitcoins.
i think he wants to dump the price ...so he can get on the boat
I can’t listen to this. It’s painful
Well that guy does not have bitcoin and he is really pissed because he was wrong. He stands his ground. Probably only enter when bitcoin is 200k
This video aged well.
it comes from under the stone
Hard to understand you waste bandwidth on this
People said the same things about the internet. For quite a while many economists claimed the internet was this intangible thing of no apparent value. Only imbeciles still think this way.
So there are enough assets in the world to back all the money currently in circulation?
I'm not so sure about that.
And what about the derivative market?
There aren't enough assets in all the world to cover the derivatives market so I don't know how he was making a valid point in regard to his distinguishing of Tether from fiat.
Derivatives are not backed by any assets.
NY gave up fighting Teather for only 18 million USD...
Hahaha the guys boiling over
I'm not an economist, but I don't think Tether poses a risk for Bitcoin. I seems logical that if Tether is exposed as a scam, Bitcoin will go up in value, not down, as people scramble to get out of Tether.
Tether is the backbone for manipulating bitcoin. Without it bitcoin would never have reached the highs it did which garnered media attention and provided subsequent fuel for more dumb money to enter.
If people connect Tether to the sustained valued of bitcoin, then bitcoin goes down. If people do not connect it, it could go up.
@@prndownload That's what many people say. But I think it's just FUD. If you think about it logically, if Tether turns out to not fully backed 1:1, and that became known, people would scramble to sell Tether for other coins or tokens, like USDC or BTC, which would make the price of those assets go up, not down.
He looks like someone stole his tricycle
Nouriel hasn’t looked at bitcoin at all. He’s heard some buzz words on Twitter like shitcoin, pump and dump, Tether and scam. This amounts to a tantrum by a child. Calling people coke heads and swearing means you’re tantamount to an infant. Forgive if I don’t take him seriously.
Maybe.
Lmfao
This is basically the corrupt establishment reacting to decentralization. Nuff said
Niuriel Riubini is right. The solution is tie Fiat money to gold.
Well said!
These old guys are out to compare everything to what they learned in college 30 years ago which was based on what happened 50 years ago.
Boomer spotted
This guy is angry because he miss the train and now want to all drop so he can buy cheap?
Always a ray of sunshine!
The anchor had to mock Roubini because he's telling the truth about all the criminal activity in "crypto"
Coindesk is part of the problem of the market manipulation. It's their business model.
He's been buying
I wonder what Roubini is like when he's mad...
about tether 100% right! it will be wiped out of the market!
So true
They sucking up to him, no balance.
Dr Roubini, put your money where your mouth is. Short it!!!
A man whos book i read. I know we believe in crypto. But i hear what he says. He makes a point. Dont be the greater fool my fellow crypto buddy.
AMAZING GUY