. >> that was greg jensen, the co-chief investment officer for his expectation of inflation in the comingear. bit coin tumbling after elon musk announced the car manufacturer will no longer accept payments in the crypto currency. musk cited environmental concern. he said bit coin is too carbon intensive. he said kit be a boom for renewable energy. joining us is reporter from hong kong. good morning, eric. how is the industry reacting to this? quite a bombshell. in february they said they were going to accept bit coin for tesla cars. >> initial reactions maybe not so great. there's a lot of confusion and some anger in the industry from this. you know, certainly there's some confusion over why this is coming up now, the whole issue with the environmental concerns with bit coin is a long standing one. it's come up in the past. so there's nothing specifically indicating why he decided to talk about this today. and also, tesla still hanging on to bit coin. so you can make the argument that holding bit coin and transacting in bit coin if you're concerned about the environment that's true for ei

guy: more about this, greg jensen, bridgewater associates co-cio, joining us now. clarida unmoved. do you think that is the right reaction? what is your reaction to today's number? greg: i think we are at a bigger turning point in the fed is going to be describing at this moment, which is the merger of fiscal and monetary policy, and it is purposely trying to drive the inflation rate up, and it is being successful. so you are seeing in the cpi numbers catching up with what everybody is measuring prices on a bottoms up basis as seeing. this is a real phenomenon when you create this much demand without creating that much offset in supply. this is the natural fade, which is rising inflation. in a lot of ways, that is a good thing and necessary thing. alix: do you need to hedge it? how would you do that? greg: we think most portfolios are too exposed to long-duration assets were cash flows are very far in the future, and places that require continued liquidity. portfolios won't be too harmed by a loss in liquidity. basically, there's a lot of cash flows available that