**Summary:**

In this video, the speaker delves into the topic of economists and their viewpoints on Bitcoin and the economy of El Salvador. He criticizes mainstream economists for being obsolete in their understanding of modern technology and their failure to adapt to the changing economic landscape. The speaker argues that economists, especially those at institutions like the Federal Reserve, are stuck in outdated economic theories that do not apply to the current global economy. He emphasizes the importance of listening to traders who understand the flow of capital rather than economists who are detached from the real-world implications of their theories. The speaker suggests that cryptocurrency, particularly Bitcoin, has the potential to revolutionize the financial system and drive significant economic growth by replacing traditional banking systems.

**Detailed Article:**

The speaker starts by addressing the recent FUD (Fear, Uncertainty, and Doubt) surrounding Bitcoin and the decision by El Salvador to make it legal tender. He criticizes mainstream economists, particularly calling out a PhD economist from John Hopkins, for suggesting that accepting Bitcoin as legal tender could collapse the El Salvadorian economy. The speaker, however, argues that the potential collapse of the economy might have happened regardless of adopting Bitcoin. He emphasizes that the issue lies with economists themselves rather than the specific economic situation in El Salvador.

The speaker goes on to criticize economists in general, labeling them as 'jackasses,' and questioning their relevance in the modern world. He highlights the Federal Reserve's employment of over 600 economists, suggesting that despite their numbers, economists fail to offer diverse and innovative ideas. He argues that economists across different schools of thought like Austrian, Chicago, or Kenzian are outdated, still sticking to theories from the 1970s and unable to adapt to the changing global economies.

Furthermore, the speaker delves into how technology, particularly cryptocurrency, represents a challenge to economists' traditional understanding of economics. He argues that traders, who are more attuned to the flow of capital, offer more value in understanding the evolving economy compared to economists. The speaker discusses how cryptocurrency, especially Bitcoin, can potentially revolutionize the financial system and replace traditional banking systems by serving the core functions of banking through digital wallets.

In conclusion, the speaker calls for people to disregard mainstream economists' opinions, including well-known figures like Dr. Doom and Larry Summers, and instead focus on the potential of cryptocurrency to drive significant economic growth. He advocates for a shift towards embracing technological advancements and digital currencies to propel the economy forward, suggesting that traditional economic theories are no longer sufficient in today's rapidly changing world.

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To support your work, I also upvoted your post!

Anyone who listens to those people are probably not the smartest. I have seen them flip-flop and they usually talk after the move has already happened. 

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<center>![pixresteemer_incognito_angel_mini.png](https://files.peakd.com/file/peakd-hive/pixresteemer/8h7BBw1w-pixresteemer_incognito_angel_mini.png)</center><center>Bang, I did it again... I just rehived your post!</center><center>Week 62 of my [contest](/hive-179017/@pixresteemer/the-re-hive-contest-results-week-61-and-start-week-62) just started...you can now check the winners of the previous week!</center><center><sub>14</sub></center>

Krugman is the worst. 

I am of the opinion that Economist are only good for telling you what just happened and useless in telling you what is going to happen.

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