No One Knows What Will Happen With Fiat or Crypto — Buy Peanut Butter, Says McAfee

John McAfee, arch libertarian, tax fugitive and staunch advocate of cryptocurrencies, is providing 101 survival suggestions in lieu of funding recommendation through the pandemic disaster.

McAfee appeared on the left-wing podcast Aufhebunga Bunga on April 14, in an episode dedicated to the political, financial and civic fault strains which were uncovered by the COVID-19 disaster. 

Podcast host Phil Cunliffe, a senior lecturer on the College of Politics and Worldwide Relations on the College of Kent, turned the dialogue in the direction of what the current conjuncture might imply for the digital financial system and cryptocurrency sector specifically. 

Hinting on the amount concept of cash that’s generally used to champion cryptocurrencies’ purported deflationary advantages — the concept the mounted provide of an asset helps to forestall its devaluation — Cunliffe requested:

“Given the large [pandemic relief] fiscal stimulus, the truth that central banks aren’t even printing cash however merely pushing the button to earn a living seem successfully out of nowhere. How does that have an effect on your fascinated about cryptocurrencies?”

To this McAfee responded:

“Nothing like this within the historical past of humankind has ever occurred, the place the whole globe is locked down. I want I might let you know what’s going to occur. I don’t know. Neither does anyone […] I can let you know this, that each one fiat currencies will collapse.”

Pressed for a forecast as to when precisely fiat currencies would collapse amid an unprecedented state-enforced demobilization of the worldwide financial system, McAfee gave them “two months.”

How then, Cunliffe requested, ought to odd folks struggling to outlive the lockdown and supply for his or her households — these with out, essentially, the means to spend money on Bitcoin (BTC) or different cryptocurrencies — climate the financial disruption?

“Purchase meals and water, nothing else issues. I have no idea, neither do you, neither does anyone know what’s going to occur to cryptocurrency or fiat foreign money. All I do know is the world is collapsing, and it’ll, completely, collapse. Meals retains you alive in case you have sufficient […] Peanut butter, raisins and bread, you may stay on that shit for years.”

McAfee pointed to the truth that folks in far northern latitudes have lengthy survived on an analogous eating regimen below circumstances of hardship. In the meantime, in america, peanut butter — and the peanut butter and jelly sandwich specifically — is alleged to have been popularized as a way of sustenance for armed forces throughout World Battle II.

McAfee repeatedly claimed that the dying toll and dangers posed by COVID-19 are minimal compared with seasonal flu and, extra broadly, with endemic poverty-induced illness. Reflecting on what residents’ response to present state measures means for libertarianism, he mentioned:

“My understanding of the human spirit has been radically defective. […] not one particular person walked out of their home with a gun and mentioned no, I’m not doing this, you may have stolen from me my private freedom.”

As reported this week, McAfee in lockdown has introduced that he’s now engaged on a brand new privateness coin known as Ghost that’s designed to present folks full management over their funds.