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Faux-Libertarian Musk Criticizes Fed For “Massive Currency Issuance”, Says Bitcoin Looks “Solid By Comparison”

Courtesy of ZeroHedge View original post here.

If we didn't know any better and we weren't sure that every single thing Elon Musk does is solely to benefit himself and/or make himself look better, we'd be left guessing whether or not the embattled Tesla CEO was making the full-fledged leap to libertarian.

Musk first showed off his faux-libertarian side when he started advocating for the constitution and "freedom" on a Tesla conference call, stating that coronavirus lockdowns were "fascist" and should be lifted.

"It's breaking people's freedoms in ways that are horrible and wrong and not why they came to America or built this country. What the fuck. Excuse me. Outrage. Outrage," Musk had said on the late April call. 

Now, Musk is taking another page out of the "Libertarian for Dummies" handbook and roundly criticizing the Federal Reserve. The CEO came out and said he isn't a fan of the Fed's stimulus and that U.S. fiscal policy has become "detached from reality".

Yes, this is coming from a CEO who just paid himself $700 million while laying off hundreds of workers from a company that has never turned an annual profit yet has a market cap of almost $150 billion. Talk about detached from reality.

He said the Fed makes bitcoin look "solid by comparison", according to ForbesWait until he discovers gold.

"Massive currency issuance by government central banks is making bitcoin internet ghost money look solid by comparison," Musk said on Twitter late last week, in response to Harry Potter author J.K. Rowling.

"I’m sure cryptocurrencies are fascinating. I’ve genuinely tried to grasp the very detailed information I’ve been sent tonight. But I’m afraid this is a total blind spot to me. I’m just about able to grasp a barter system. Talk of collectibles, tokenomics and blockchains and my brain just takes a walk," Rowling responded. 

There is a certain irony in the idea of Musk, whose company has been questioned non-stop by skeptics  about its own financials (most recently David Einhorn), weighing in on macroeconomics. It's even more frightening that Musk has arrived at the right answer: the Fed is completely out of control. Its just the way he got there that we have a gripe with: his stance is in his own self-interest.

Meanwhile, one social media user found Musk's critiques to be especially hypocritical. 


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