Peter Thiel Blasts the Financial Gerontocracy

We have two of the most visionary investors in the country leaning in not only for Bitcoin but against the entire government/central-banking machery, along with the entire financial establishment that stands behind it. [Gilder's Daily Prophecy] April 08, 2022 [UNSUBSCRIBE]( | [ARCHIVES]( [>>INCOMING MESSAGE FROM JAMES ALTUCHER<<]( Did you know Coronavirus and inflation could have very little to do with these crazy up and down markets? And the reason your retirement account could go down to zero? I’ve been warning readers about the REAL CAUSE behind this… [I explain everything in my video—you can click the image above to play it…]( [(Watch my short video now, before it’s taken down)]( Peter Thiel Blasts the Financial Gerontocracy [Jeffrey Tucker]Dear Daily Prophecy Reader, When you see Peter Thiel’s name trending on Twitter, you know something important has happened. The famed investor and visionary rarely disappoints. Recall that this maverick dared stand in front of national television cameras to make the case for Trump—too strongly in my view—months ahead of the 2016 election. He said that Trump could win and that he should, given the corruption and lack of vision of the other side. For that, he earned an eternity of enmity from the national press and most of Silicon Valley. Speaking in Miami at Bitcoin 2022, Thiel has expressed what most of us in this space have been saying for many years but he put a fine point on it. He denounced the “financial gerontocracy” for its long-running disparagement of what has turned out to be one of the best investments of the last ten years. In particular he named Warren Buffet, Bill Gates, Larry Fink and Jamie Dimon. Indeed, all these people have consistently ridiculed Bitcoin for years. Thiel further declared the “complete bankruptcy moment for the central banks.” He called Bitcoin “the most honest market in the world” and “the most efficient market.” He noted: “I am still hopeful that bitcoin goes up by a factor of 100x.” He plainly said “we are at the end of the fiat money regime." “Even being in a stock, you’re effectively being in something that’s like a government-linked entity,” he said, revealing his inner anarchism. “Companies — woke companies — are sort of quasi-controlled by the government in a way that Bitcoin never will be.” The coup de grâce: “"the finance gerontocracy that runs the country through whatever silly virtue signaling/hate factory term like ESG they have versus what I would call a revolutionary youth movement... And we have just to go out and take over the world." Just wow! The Thiel Secret This speech seems to have been boiling up inside of him for many years. This is rather how his remarkable brain works. He notices anomalies in a settled orthodoxy. He tries to figure out not only what’s wrong but what might fix it. He considers the viability of the fix and connects all the dots in his mind. Then when it is settled, it becomes ever more crystalized as a reality in his brain. At this point, there is no stopping him. The key to understanding Thiel’s success is the same that drives George Gilder: he is willing to think. He does the hard work to understand. He is willing to face the problems of an existing orthodoxy. He is open to the idea of progress through disruption and replacement. Maybe all of that sounds rather obvious and surely common. It is neither, as incredible as that sounds. There is a “financial gerontocracy” that is deeply wedded to the status quo, and tries to rig the system to defend it against invasion. From about 2013 and following, I spoke at many financial conferences on the topic of Bitcoin. My speeches were not just about the future of the price, though I was confident we would see a long-run rise. Mostly, I spoke about the technology of distributed ledgers and how they could come to replace centralized databases as a primary method for documenting ownership rights in a way that was more reliable and portable than any previous system. No matter how much I tried to explain, I would be greeted with incredibly hostile attacks, both in public and in private. All these people, without having bothered to understand the complicated systems behind tokenization, were somehow cocksure that Bitcoin could never work. Moreover, they nearly always took the next step to say that I was guilty of hawking a ponzi scheme. This criticism always stung because I was extremely careful not to have a financial stake in any industry that would have affected my judgment. Moreover, I was always careful to not give investment advice and I still am. My judgment was purely technological and economic. At one event in particular, in perhaps 2015, my gig was to interview a very famous and successful investor on a stage in front of many thousands of people. After about 45 minutes and questions and answers from both myself and audience members, I took a deep breath and asked the question: what is your outlook for Bitcoin and cryptocurrencies? The result: an explosion. He denounced not only the technology and industry but also the question itself. He was so angry at me that he wouldn’t speak to me after the event. Why would someone react that way? It seems like too much protest, too much anger, too much emotion. That alone doesn’t prove that the question was a good one but it does make one think. 1992 Book Reveals: The Next Big Tech Obsession Silicon Valley insiders have spent the last 30 years passing a “secret playbook” around their inner circles. This “secret playbook” ([which I reveal right here]( has pointed the world’s biggest tech moguls to major breakthroughs that have helped disrupt entire industries... Now, for the first time ever, tech billionaires are set to reveal the “final chapter” of this mysterious book. And I’ve secured you special access to a full rundown of this little-known breakthrough. [>> Click here now for the full story <<]( The ESG Question I found Thiel’s denunciation of ESG particularly interesting. This stands for Equity, Social, and Governance. It is advertised as a millennial obsession with going beyond profitability toward issues of social justice and woke ideology generally. Old-line firms are being hectored by media and intellectuals to test every investment against these standards. Thiel’s view is different. He thinks that ESG is a crock, cooked up by old-line finance to target Bitcoin and blockchain investments on grounds they waste resources, harm the environment, and generally fail to pass woke standards. In other words, he sees ESG as nothing but a protectionist racket. Very satisfying. The Central Bank’s Crypto The same day as Thiel’s speech, Janet Yellen (who had no idea what Bitcoin was, even as late as 2016) has tried to dial back expectations that the US Treasury will invent its own digital currency to become a big player in the market. I never believed they could do it in the first place—too technical for government, particularly THIS government—but she is now saying it is years away. This is highly fortunate. Such a thing would be a nightmare for Americans and their financial privacy. At the same time, existing payment systems by the Fed are disastrously slow and expensive. The Fed is only now getting around to deploying a new system that will surely improve on ACH but is a very long way from competing with blockchain. The Revolutionaries Think of what we have brewing here. We have two of the most visionary investors in the country leaning in not only for Bitcoin but against the entire government/central-banking machinery, along with the entire financial establishment that stands behind it. They are explaining that these people are the stuff of the past, whereas the people gathered in Miami behind this fascinating technology are the future. These truly are revolutionary times. It will not be a smooth transition from the old system to the new. Regards, [Jeffrey Tucker] Jeffrey Tucker These weird devices are about to appear all over America According to America’s top tech futurist – dubbed the “Tech Prophet” by Forbes – millions of these strange little devices are about to appear in every corner of our country… including your home. What are they? And why did one tech insider with connections to Apple and Microsoft claim they’ll “rewrite the rules of what’s possible?” [Find out more right here.]( [Three founders Publishing]( To end your Gilder's Daily Prophecy e-mail subscription and associated external offers sent from Gilder's Daily Prophecy, feel free to [click here](. If you are having trouble receiving your Gilder's Daily Prophecy subscription, you can ensure its arrival in your mailbox by [whitelisting Gilder's Daily Prophecy](. Gilder's Daily Prophecy is committed to protecting and respecting your privacy. Please read [our Privacy Statement.]( For any further comments or concerns please email us at GildersDailyProphecy@threefounderspublishing.com. Nothing in this e-mail should be considered personalized financial advice. Although our employees may answer your general customer service questions, they are not licensed under securities laws to address your particular investment situation. 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