even john paulson has been saying this for decades.e sense, but i also thought it was funny. i'm also not sure how much crypto investors really about a guy who has bought and held gold for 10 years. amanda: something to be said about crypto investors only want to hear good news. that would be another conversation that you may not agree with. matt: the same is probably true for gold bugs as well. amanda: probably right. people get a little dug in to their positions. i thought it was interesting, he said you are really just buying a supply and demand picture. that is not really true of other crypto's, just bitcoin. but the question was well-made. if you believe that, why not sure it? --short it? a fascinating answer about why it is not easy to bet against. matt: imagine if he had bought it early. the whole interview is fascinating. it is pretty weird to watch john paulson. he is such a huge figure in wall street history. definitely want to watch at tuesday, 9:00 new york time on bloomberg well with david rubenstein. time for our stock of

john paulson made his fortune and name of shorting the mortgage market more than a decade ago.s, he is not a fan of cryptocurrencies, but don't expect him to have anything to do with digital currencies. to hear more about investing from john paulson, watch bloomberg's "wealth" with david rubenstein. that is your latest business flash. in business, it's never just another day. it's the big sale, or the big presentation. the day where everything goes right. or the one where nothing does. with comcast business you get the network that can deliver gig speeds to the most businesses and advanced cybersecurity to protect every device on it— all backed by a dedicated team, 24/7. every day in business is a big day. we'll keep you ready for what's ne. comcast business powering possibilities. >> the countdown is on in europe. this is "the european close." with guy johnson and alix steel. alix: already minutes until close in europe, recovery stumble, confidence falls for the first time this year's while german inflation hits a 13 year high, olaf scholz tries to cement his front runner stat

tom: john paulson speaking to david rubenstein. the full episode tuesday in new york or wednesday in london. speaking of crypto, let's check the prices. bitcoin up 625% year to date. ethereum down. that is the bloomberg galaxy crypto index. let's look at what we will be watching out this week, the u.s. open tennis tournament starts today and we will get euro area consumer confidence as well. tomorrow, all eyes on biden and afghanistan as almost all american troops they be pulled out of the country after nearly 20 years. that 31st date. wednesday, we will be monitoring the opec-plus meeting. thursday, eu foreign affairs ministers meet in slovenia. friday, we have the august u.s. jobs report. that's where the focus switches after that important speech from jay powell where he tried to delink the start of tapering from the start of the rate hike cycle. we don't have a timing yet but the assumption by many investors is set timber is when it gets announced, and bloomberg intelligence things december is when tapering starts but jay powel

billionaire john paulson - -who bet against the u.s.ng market is turning against crypto. in an exclusive interview, the hedge fund manager said why he thinks digital currencies are worthless. >> i would say that cryptocurrencies are a bubble. i would describe cryptocurrencies as a limited supply of nothing. haidi: he is increasing the concern about rising prices. we did not quiet get what his next -- quite get what his next big bet could be, matching his latest success. it does not seem to be on crypto. kathleen: it could be generational. mary merry soccer, tennis open gym said she got interested in come to currency because of her twitter feed. daybreak asia is next. this is bloomberg. ♪ introducing xfinity rewards. our very own way of thanking you just for being with us. enjoy rewards like movie night specials. xfinity mobile benefits. ...and exclusive experiences, like the chance to win tickets to see watch what happens live. hey! it's me. the longer you've been with us... the more rewards you can get. like sharpening your cooking ski

. >>> john paulson has a new call.ime mortgages in 2008. he says he's buying gold and a number of energy stocks. he's owned a big position in a number of goldminers, includin nova gold resore, perpetual resources, ashouldn't, barrick gold, he added that cryptocurrencies are a bubble that will eventually prove to be worthless. he made the comments about david reuben steen on bloomberg wealth. >> and then a generation of traders who profited big from that crisis. the open question remains, can they spot and profit big from the next one >> you can get it right once can you keep getting it right? >>> thanks for watching "power lunch. "closing bell" starts right now. >> welcome to "closing bell. the nasdaq is in the lead to kick off the new trading week, up 1%, as we head into the final hour of trade with the s&p 500 and nasdaq both said for report closing highs. >> i'm courtney reagan in for sara eisen today let's look at what's driving the action on this monday. tech is on top today as apple, alphabet and semiconductors h

let's take a look at bitcoin, sliding after billionaire investor john paulson just called cryptos a,d supply of nothing. that is a quote. it's pushing the price of bitcoin down, lithium down, here to yum is climbing to the up-- ethereum is climbing, so mixed picture, but overall crypto moving lower. and the largest gas pipeline in the u.s., the colonial pipeline, says it expects to resume full services once it assesses the impact of hurricane ida on its operations, this after it temporarily halted fuel delivery from houston the greensboro, north carolina. it supplies half the fuel to the east coast of the u.s. hurricane ida the has pummeled the u.s. gulf coast, knocking out most of region's offshore wells and export facilities. as a result, just ahead of labor day, gasbuddy is predicterring the national average -- predicting the national average to rise 3-8 centings. would you agree with the prediction? >> yeah, i have a more modest increase of about 5-10 cents a gallon given that we've seen futures up a few cents especially in light of the number of refining averages we have as well

. >> john paulson speaking to david rubenstein on bloomberg. the full episode tuesday in new york or wednesday in london. let's check on those crypto prices. bitcoin up your today, 55%. bitcoin currently trading 47,900, just over 5040 -- similar territory in the losses we are seeing in today's session, currently priced at 3165. that is your crypto index. let's take a look at what we are going to be watching for this week. the u.s. open tennis tournament starts today. we are going to get euro area consumer confidence. almost all american troops have been pulled out of the country after two decades. wednesday we are going to be monitoring the opec-plus meeting. will they stick to their commitments? friday, we are going to have the august u.s. jobs report. let's get the bloomberg first word news with simone foxman in doha. >> hurricane ida slammed into louisiana packing winds of 150 miles per hour and threatening mass flooding. more than 700 50,000 homes and businesses are without power. blackouts could last weeks. anthony found she says the door

with all due respect to john paulson who is a brilliant man, he is flat-ass wrong this time, i think. you to recreate the same name when george paul referenced a bowl of thc-laced gummies. [laughter] >> yeah, talk about a whole other level with a slight drug reference there. i have to disagree. there's no commercial use for bitcoin. it's not a good store value of money. i think if we do see final crash in bitcoin we need to have a crypto must die party or something like that. i don't see where it's economically viable in any situation, in any situation where this is a currency. i know dennis agrees. >> i agree with mr. paulson, i think eventually it goes to worthlessness. dagen: gentlemen, great discussion. thank you so much, gentlemen. much more ahead this morning. coming up, arizona congressman andy biggs adds to the growing calls for president biden and his top advisors to resign over the botched afghanistan withdrawal. he is next. plus, retired army captain sam brown is here on the biden administration's broken promises. we left americans and allies behind in the hands of a terror

john bel paulson in 2017, one of the world's largest p. r. firm spell, passenger found itself in the middle of a major south african political scandal, accused the stoking racial hatred on behalf of its client, a prominent business family with close connection to the government. oh, passenger was exposed, went back cropped and was forced to shut down. however, these moments of accountability are rare, because this is an industry that's been incredibly successfully keeping its work under wraps. not every day you get to see a video that exposes the inner workings of the p. r, industry. and finally, to the olympic games where thousands of athletes are competing for metals, and there's not a russian flag to be seen. that's because russia is still banned from the olympics after it was found to be running a huge doping program, which it's always denied. a limited number of russian athletes are allowed to compete in tokyo, not a seam, russia, but as the r o c, the russian olympic committee. and they're not allowed to play the russian national . t

. >> john paulson's made one of wall street's most lucrative trades of all-time. >> he said john justult. i think it's a mistake. >> it was no mistake. paulson earned his

hedge fund billionaire john paulson betting against the crypto's, what did he say.rency bubble will burst. >> i would describe crypto currencies is a limited supply of nothing. to the extent there is more demand than the limited supply then price would go up. but to the extent of the demand falls a price will go down there is no intrinsic value. lauren: no intrinsic value, he said the housing bubble would collapse and he was right on that one that was back in 0 six. stuart: 06 - 07 housing bubble not right now. lauren: the one leading up to the financial crisis. stuart: next what is support.com this is not a stock that i know they offer technical support, it's been on a win streak recently i've been inclined to ask is it a mean stock? lauren: the 45% gain is nothing it's been up over 200% in the past seven days and make this day number eight this is a mean stock you have the reddit traders like they do with gamestop and agency their speculating is short squeeze with support.com when a stock jumps they are forced to buy back their shares to limit losses so the stock

john paul who famously shorted the housing bubble in 2008, he said cryptocurrencies will eventually become worthless. he's calling it a bubble. what say you? >> with crypto you're in a binary situation where either paulsonrong, the value of crypto is based on central bank continued money printing and the theory behind all of this money printing is the bicycle theory, meaning if you just keep pedaling the wheels or printing the money, the wheels don't come off. i would say hank paulson is a gold bug, how has gold done for the last decade. he hasn't returned capital to outside investors, i'd say that's more performance related. he's basically destroyed investor capital for the last decade in one of the greatest bull markets in history. he may be calling the black swan. i tend to be in the camp that crypto's here and here to stay. point 72, more successful hedge funds are knee-deep into crypto so i tend to think the best days of crypto are ahead of us. i don't see money printing stopping any time soon. dagen: paulson is remembered for this multibillion dollar winning bet against the housing market, mike, but what actual investments did he lose so much money on in the last few years? >> well, -- dagen: he w