Dr. Doom strikes again “people in crypto are zealots and fanatics

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The world of cryptocurrencies and the people that support this new technology have gotten use to some everyday slandering from various old financial guys. You have Warren Buffet, Jamie Dimon and of course Nouriel Dr. Doom Roubin.

Nouriel ‘Dr Doom’ Roubini
DAVOS/SWITZERLAND, 27JAN12 – Nouriel Roubini, Professor of Economics and International Business, Leonard N. Stern School of Business, New York University, USA; Global Agenda Council on Fiscal Crises is seen during the session ‘Fixing Capitalism’ at the Annual Meeting 2012 of the World Economic Forum at the congress centre in Davos, Switzerland, January 27, 2012.Copyright by World Economic Forum swiss-image.ch/Photo by Sebastian Derungs

Dr. Doom has famously in the past bashed Bitcoin and cryptocurrencies several times, and now he strikes yet again.

Nouriel Roubini is an American economist and teacher at New York University’s Stern School of Business. He became somewhat famous for predicting the 2008 financial crisis. Other than that in cryptocurrency circles he’s also today well known for calling cryptos a stinking cesspool and that “It is indeed laughable to think that useless crypto-currencies or shitcoins have any fundamentals of value”.

In a recent interview with the CFA Institute he once again goes out hard against cryptocurrencies and calls them unstable and unscalable.

But to me, the whole crypto space is one of assets that are not really money. They’re not really a currency. They’re not a scalable means of payment. They’re not as stable in terms of store of value.

Nouriel Dr. Doom Roubini

He goes even further and calls out the entire crypto community to be pretty much clueless and arrogant fanatics. That has no understanding of basic economics and finance.

“I met some of these individuals, and I must say I’ve never seen in my life people who on one side are so arrogant in their views, who are total zealots and fanatics about this new asset class, while at the same time completely and totally ignorant of basic economics, finance, money, banking, central banking, monetary policy”.

Nouriel Dr. Doom Roubini

Interesting to see the Tweet that Roubini has pinned to the top. Maybe the relationship between him and crypto is more complex than at first sight.

Then: “Bitcoin is a fraud” – Now: JPMorgan launches their cryptocurrency

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