from Kerry Lutz's Financial Survival Network
Kerry and Darryl Schoon reflected on the 14-year journey of economic uncertainty, the struggles of central bankers to restore stability, and the impact of the COVID-19 pandemic on the global economy. They also discussed the potential implications for China’s economy, the psychology of market participants, and the role of gold as a barometer of systemic distress. The conversation then shifted to Bitcoin, with Lutz discussing the institutional adoption of the cryptocurrency and suggesting that institutions are being sold debt and IOUs. He expressed skepticism about the motives behind institutional investment in Bitcoin, portraying it as a way for the fast boys to profit at the expense of the slow boys. The meeting also covered the potential impact of AI, with participants expressing concerns about the environmental and societal implications of AI technology, as well as the ethical and philosophical aspects of AI development. They discussed the potential negative consequences of creating machines that mimic human actions and the dangers of creating machines that are similar to humans but lack the ability to make ethical decisions.
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