A market crash is coming, fiat currencies are doomed and many of the criticisms you have heard of cyber money are wrong. Meanwhile, the United States’ economic policies are putting it on the same road as the Weimar Republic and Zimbabwe.

Those were some of the startling assertions offered by hedge fund manager and executive Mark Yusko at the Family, Enterprise and Wealth (FEW) Conference in Manhattan on Tuesday.

Yusko, the CEO of Morgan Creek Capital Management, said in a session on alternative investments that many in the securities industry are trying to fight inevitable economic forces and have already missed the tide of change.

“How many of you predicted last year,” Yusko asked the crowd, “that bitcoin would be the best-performing asset of all assets?”

No one in the crowd raised a hand. He argued that many in the securities industry have railed against the cryptocurrency, and that “disruptive technologies make the incumbents uncomfortable.” Nevertheless, he added that some of the same securities industry critics are now saying of bitcoins that “they are real.”

Yusko also contended that recent fiscal and monetary policies are destroying the buying power of average Americans.

“That is a problem. They have devalued their currency,” Yusko said. He asserted that American wealth is being stolen through inflation.

All of this, he warned, will lead to a market crash. Indeed, Yusko, in a recent commentary, also compared the average American retail investor to a frog that is being slowly killed.

“U.S. equities are the pot of hot water that is on the verge of the boiling point, and investors are an army of frogs on the verge of becoming permanently impaired,” Yusko wrote. “There is still time for investors to collectively jump out of the pot before they are no longer able, but the warmth of the pot seems to be lulling the army into a false sense of security.”

“What is also seemingly lost on market participants,” he added, “is how the slow and steady rise in asset prices is slowly robbing them of their wealth as the dollar is devalued and their wealth loses purchasing power.”

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