Stephanie Pomboy, founder and president of Macro Mavens, joins Real Vision’s Grant Williams to discuss the relationship between cryptocurrencies and gold. Pomboy and Williams suggest that demand for cryptocurrencies might be affecting the gold price. This clip is excerpted from a video published on Real Vision on April 18, 2019 entitled “The Startling Consequences off Monetary Policy.”
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How Bitcoin and Gold Interact (w/ Stephanie Pomboy)
For the full transcript visit: https://rvtv.io/2FCyKDj
GRANT WILLIAMS: No, I'm probably 80% the Luddite you are. Actually, not, probably 40% Luddite.
STEPHANIE POMBOY: Yeah, I was going to say I don't think you're that.
GRANT WILLIAMS: Yeah. I was way less than that. But again, the crypto thing- I totally get it. I made a
conscious decision a while ago that if I want to stay current onSTEPHANIE POMBOY: You have to own some, right.
GRANT WILLIAMS: You have to own some which I do a little bit, but it's neither here nor there. But you
also have to follow it every day because it changes so fast, there's so much going on. And the intellectual
capacity of the people who are deep in that space is so much greater than mine in the area, that I'm always
going to be at a disadvantage. And so, I have friends of mine that pay attention to this and I leech off them
The one thing I keep asking myself, and I'm sure I'll get plenty of answers again in the comment section.
Thanks for dragging me under the bus with you- is we're 10 years into this thing now. And for all the
promise and all the potential of this thing has, I've yet to see the killer app. I don't see someone saying,
aha, there's the perfect demonstration of what blockchain's about, except Bitcoin. People argue that Bitcoin
is the killer app. Well, that's been around since day one.
So, there's all these companies doing amazing things in the crypto space. And I've spoken to a lot of these
people, and they're incredibly bright, incredibly smart people with big ideas. But I'm still waiting for
someone to say, oh, yeah, here's something tangible that you can understand why this thing is the future.
Conceptually, I get it. But it seems to be taking a lot longer than I would think when I look at the amount of
brainpower being thrown into this thing.
So, I'm like you. I'd rather have some gold because I know what it is. I know how it acts in a crisis. I know
that if the electricity gets cut off, as long as I've got a torch I can find where I buried it. The address of
Google Maps. So, yeah, I don't understand what the price is doing. I don't understand a lot of the
movements in the gold markets, but what I do understand is what it does in a crisis and that's really what I
care about. I don't care about the price between now and the crisis. I care about when the day you need
to have some. If you don't have any, it's too late.
STEPHANIE POMBOY: Yeah, you're not going to be able to get it for sure.