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He also called gold a fad: > "I think gold is a bubble, but it's always been a bubble," hedged Shiller. "It has some industrial uses, but it basically it's lik
by cujic9 9y ago
He also called gold a fad:
> "I think gold is a bubble, but it's always been a bubble," hedged Shiller. "It has some industrial uses, but it basically it's like a fad that's lasted thousands of years."
In other words, he's changed the definition of the word "fad".
- nxsynonym 9y agoThis is the issue I have with all the bitcoin 'counter arguments'. They all revolve around tulip mania/fad status, yet a good number of the detractors admit to and acknowledge that the gold standard is no different. If nothing else, Bitcoin is a media war. All the hype/nay-saying is revolving around non-stories and buzzwords. Just because Bitcoin/cryptocurrencies are a fad doesn't make them automatic failures. They are most certainly a fad, the question is if this fad will remain or wash away.