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.”

In his talk Tuesday, he said a sign of this monetary chicanery is the lack of market volatility. He warned that “volatility has been abolished. This is the most manipulated market we have ever seen in our lifetime and we need to be afraid.”

He added that investors should seriously consider cash because volatility, despite the efforts of bankers and the government, will make a return.

He also contended at the conference that this buying power crash amounts to “a transfer to the top 1 percent, because there is a wealth tax through this insidious inflation.” He said income equality is now greater than it has ever been.

Citing the worthless currency of Zimbabwe, he warned that the cheap money policies of the American government are a “classic banana republic trick.”

He also warned that Trump administration policies will not strengthen the dollar but repeat a pattern of economic history.

“No, he’s not going to make the dollar stronger. He is going to destroy the currency just like every other overindebted nation always must.” Every fiat currency, Yusko says, “will eventually go to zero.”

Cheapening the dollar, he added, will lead to the end of the dollar as the reserve currency. The world, he predicted, will have multiple currencies.