I really like this guy.

[Anonymous No.22248023]

hes right about btc and gold, but wrong about cryptocurrencies in general imo.

[Anonymous No.22248249]

>predicts catastrophe every year.
>when 2008 happened, takes credit as predicting it (even though he didn't have the vision or intelligence to short the MBS market correctly)
>told people to sell stocks and buy gold in 2011 (those who listened missed out on the biggest bull run in American history)
>regardless of if gold goes up or down, he makes money
>regardless of if his shitty funds perform (they don't), he makes money
Yeah, seems like a great guy. Keep listening!

[Anonymous No.22248355]

>>22248249
hes right about the bubble popping and taking the usd down with it... its happening right now before our very eyes.

just because his predictions took longer than expected doesn't mean he was wrong, just wrong on the timing.

[Anonymous No.22248458]

>>22248023
he is not right about bitcoin
EVEYRTHING he says about bitcoin can be said about any asset being speculated
he understand NOTHING of the technology behind

the only way someone properly criticizes bitcoin is by criticizing Hashcash
if you can't criticize hashcash, you can't say anything about bitcoin

[Anonymous No.22248459]

>>22248355
>just because his predictions took longer than expected doesn't mean he was wrong, just wrong on the timing.
Being correct too early and being wrong are literally the same thing.

Also the DXY is at 92, not exactly a catastrophe yet. You are popping your champagne a bit early there my lad. Start worrying when it gets into the low 80s or high 70s.

[Anonymous No.22248594]

>>22248458
btc is old, outdated, slow, and expensive... its value comes from it being the first cryptocurrency and thats literally it, the market will eventually mature enough to realize there are other projects that are a better investment

>>22248459
writings on the wall

[Anonymous No.22248641]

>>22248458

>countless shitcoins
>”decentralized oracles”
>JSON
>”toilet flushes”

Crypto was a good idea until scammers figured out to turn them into penny stock PnD

[Anonymous No.22248696]

>>22248594
>writings on the wall
He said the same thing in 2011. 12,13,14,15,16,17,18,19,20.... oh yeah here we are...

I'm very bearish on equities now, I hold PMs, I even own mining stocks, but listening to Schiff is a waste of time because he's a permabear, and they always have the same story.

[Anonymous No.22248799]

>>22248249
he has terrible timing
but he made a killing shorting the housing bubble and he did predict it

[Anonymous No.22248835]

>>22248594
>slow, and expensive
that's a feature not a bug , dumbfuck
you understand nothing of the value it proposes lmao
that's why it goes up in value and you can't seem to wrap your head around it

[Anonymous No.22248939]

>>22248641
FOSS projects are easy to understand for those who know how to read at elementary school level
do you read code before you buy any shitcoin?
I'm guessing you haven't read a single line in node.cpp in your life
that's why you think "crewpto is a scaaaam"

[Anonymous No.22249087]

>>22248835
BTC is literally the only crypto I've invested in, I rarely even look at it, and I've probably done better than the vast majority of people that check their crypto daily.

[Anonymous No.22249152]

>>22248249

Didn't he 'predict' that the BRICS nations would put an end to American hegemony?

[Anonymous No.22249162]

>>22248458

Schiff understands that the only use-case of Bitcoin is to serve as an alternative to gold. People speculate on Bitcoin because they have the delusional hope that it will become the new system of money, and go 100x. But either Bitcoin or gold is going to win; you can't have both. And if it is gold which becomes the new system of money after the reset, and it obviously will, which is why central banks are hoarding it, then nobody will be stupid enough to trade their gold for Bitcoin. Schiff doesn't want people to lose everything when the reset takes place. He is especially insistent because the Bitcoin bubble has already burst, so it isn't even intelligent to speculate on it any more; especially when you have junior mining stocks, for example. BTC is a range-bound dead end at this point. Only Twitter moonboys and ignorant boomers are keeping it alive.

Bitcoin is only here as we transition from the old system of money into the new. People buy it as a hedge against inflation. Once fiat is gone, Bitcoin serves no purpose.

Schiff could make a far better case against Bitcoin if he knew more about it. I doubt he's aware quite how useless it is. Even if the LN, which is perpetually "two years away" was widely implemented, BTC would only be usable by 0.1% of the world's population. BTC requires second-layer solutions which track and trace everything you do. Hence it doesn't even serve the purpose of privacy. This is why Mike Hearn left the project in disgust.

https://blog.plan99.net/the-resolution-of-the-bitcoin-experiment-dabb30201f7

BTC looks even worse when you consider the fact that Satoshi is almost certainly Adam Back, the head of Blockstream. It would make perfect sense to me that crypto was designed as a scam from the beginning; as another way, besides the COMEX, to suppress the price of gold, by deluding people away from real money.

https://www.youtube.com/watch?v=XfcvX0P1b5g

As BTC is a scam, every other crypto is simply a scam-derivative.

[Anonymous No.22249362]

>>22249152
He has predicted tens of thousands of different collapses. Go make a list of everything that can go wrong and shill it for decades, then when one of them does you can say "LOOK I WAS RIGHT!" just like Peter

[Anonymous No.22249465]

Imagine predicting some crap is going to happen every year and being wrong a lot, but the 2 times you're right make you somehow a psychic and master at predictions.

The USA is going through some Communist revolution. This year is ripe for all those "psychics" and "analysts" with their "predictions".

But the only way crypto goes out the door is if we have a catastrophe on the global scale that makes much of the world lose access to internet and technology as a whole.

[Anonymous No.22249488]

>>22249362
>He has predicted tens of thousands of different collapses. Go make a list of everything that can go wrong and shill it for decades, then when one of them does you can say "LOOK I WAS RIGHT!" just like Peter

I remember when the Putin shills kept saying BRICS was going to end US hegemony, funny how the same Putin shills promote Peter Schiff.

[Anonymous No.22249527]

>>22249465
>The USA is going through some Communist revolution.

It isn't the first time the commies tried some insurrection in the US, though it's the first time in 40 years or so.

[Anonymous No.22249531]

>>22249162
BTC has its place. My friend from Venezuela smuggled his money out of the country before it hyperinflated using crypto. Pretty sweet to be able to cross a border with no money and get to the other side and collect it.

[Anonymous No.22249567]

>>22249488
Yeah, it's a clown show. There is a legit argument for PMs right now, but there are a lot more respectable people making them that haven't spent the last 30 years jerking off to collapses.

[Anonymous No.22249598]

>>22249531

You could do that with BCH just as much as you could with BTC, which is one of the central problems with crypto. 5000 different ones to choose from. At best any one cryptocurrency serves a niche temporary purpose, but the ultimate destination of every cryptocurrency is zero.

[Anonymous No.22249638]

>>22249162
1933, President Franklin D. Roosevelt cut the dollar’s ties with gold, why should they return to it??

[Anonymous No.22249768]

>>22249362
>>22249465
>>22249567

What you are saying about Schiff is complete rubbish. Here is an accurate timeline:

Early 2000s. Schiff tells his clients to buy gold when it is at $250. As gold is now $1950, and outperformed the stock market for a decade, this was an excellent recommendation.

2006-2007. Schiff is one of the few people to predict the housing bubble. He is the only person willing to stick his head over the parapet and shout about it on television, day after day.

2011-2015. Gold collapses, and the U. S. economy manages to hobble on, because the Fed manages to convince everybody, lyingly, that it can raise interest-rates, and normalize its balance-sheet. Schiff knows that this is a lie, but the rest of the world doesn't believe him. He continues to stick to his principles.

2018. The stock market collapses 20% the instant the Fed tries to let interest-rates go up. Schiff is vindicated that the Fed can never let interest-rates go up again. Gold starts to soar, Fed is forced to re-start Q. E., as Schiff predicted.

2019. Repo crisis. System is shown to be completely broken.

2020. Whole system completely breaks down, trillions in money-printing needed to keep it alive, Q. E. infinity, all as Schiff predicted. Gold soaring over $2000, silver soaring from $19 to $29 in a matter of days; anybody who holds gold, silver, mining stocks, about to gain kingly wealth, anybody still in crypto, cash, or mainstream stocks about to get wiped out, in the greatest wealth transfer in human history, just as Schiff predicted. When everything comes tumbling down soon, Peter Schiff will be remembered as one of the most prophetic thinkers of our time.

[Anonymous No.22249816]

>>22249638

>>1933, President Franklin D. Roosevelt cut the dollar’s ties with gold, why should they return to it??

This is not true. In 1933, Roosevelt confiscated people's gold in order to _devalue_ the dollar. Gold was only detatched from the dollar in 1971, under Nixon. Why will the U. S. go back to gold? Because the rest of the world will go back to gold. It was money for 5000 years. People only accepted the dollar as the world reserve-currency in the first place because they assumed it was backed by gold. The U. S. did a rug-pull in 1971, and the world has gone along with this state of affairs for a time. But all confidence in the dollar has been completely lost. Everybody can see now that the U. S. is irrevocably caught in a debt-trap, which is why they are dumping treasuries and hoarding gold as fast as they can.

[Anonymous No.22250078]

>>22249598
Agreed.

[Anonymous No.22250138]

[Anonymous No.22250169]

>>22248023

Peter SCHIFF is D man. All crypto is dogshit ponzi meme

[Anonymous No.22250383]

>>22249598
imagine not knowing that blockchain and DLT is the future of technology. Hence why CBDC are on the verge of arriving and visa, mastercard etc. are champing at the bit

[Anonymous No.22250576]

>>22248249
>he doesn't know

[Anonymous No.22250746]

>>22249768
>Gold collapses, and the U. S. economy manages to hobble on, because the Fed manages to convince everybody, lyingly, that it can raise interest-rates, and normalize its balance-sheet. Schiff knows that this is a lie, but the rest of the world doesn't believe him. He continues to stick to his principles.
All those poor saps that he convinced to buy at ATH, and then told them to keep out of the stock market. My original post stands true, Peter is a permabear and there is nothing talented about saying everything is fucked constantly without having a timeline. Literally everyone here can do that.

[Anonymous No.22251034]

>>22249162

I don't know if gold will win, but no non-government controlled currency will ever see mass adoption.

I really, truly do not understand why people have such a hard time understanding this. Deflationary, non-centrally-validated, pseudonymous currencies governed by some body of god-complex-having spergy libertarian dweebs (worse than merely being ungoverned), are anathema to the government.

So far they have mostly ignored it, but when the dollar is losing strength they will lash out to shut down any competition to remind people who's in control. The constitution does not and will not matter.

Coinbase will do as they are told, and swap everyone to dollars or digi-dollars. Business will get the memo that they are not to accept crypto or they will have problems. Normies will flee the space when it becomes obvious Uncle Sam is not amused anymore. Crypto will return to just being a thing you buy drugs with online and those speculating on mass adoption will get wiped out, deservedly.

Gold may or may not officially back a new currency after reset, but it will do its job of getting you through turbulent times. If you make leveraged plays (like miners), you can even make money with it.

[Anonymous No.22251071]

>>22248249
I like him too and have watched him for a decade. This is spot on, Peter's job is doom and gloom. He's right about a lot of things but over dramatizes plenty more. He was definitely spot on about China.

[Anonymous No.22251168]

>>22248458
Bitcoin isn't an asset, lmao. Do Zoomers really think this? It's literally nothing.

[Anonymous No.22251234]

He’s a perma bear when the market is literally designed to trend upwards over time. Makes no sense, because you know you’re gonna be wrong most of the time. But I guess his followers will only remember the few times he’s right when he “predicted” the crash.

[Anonymous No.22251291]

>>22251168
bitcoin is fiat. at least most of it is deflationary fiat, but it's still fiat.

[Anonymous No.22251297]

>>22248023
I'm a big fan of Austrian economics (not that I buy everything like Praxaeology). I think Peter is generally correct, especially in the way that he understands economic fundamentals, but misses out on some of the details.
Like is there enough gold to use as a currency in the world? Plus, people will just cheat on the gold standard like they always do. I don't think that crypto is necessarily a solution especially as it currently exists, but really don't know.
Peter was completely right about subprime and my buddy who is a mortgage Jew who's company went out of business was at his famous speech in Las Vegas - and was like holy shit this guy is probably right.
Anyways, I personally like Peter's social commentary rants the best. I wish he would do more of that.

[Anonymous No.22251446]

>>22248023
>>22249768

Schiff is basically a turbo-Austrian. He is technically right in all his analysis of how fucked the USD is.

The reason he has been incorrect in his predictions post 2011 is that he failed to understand normie sentiment (naturally, as a decidedly non-normie sort himself). People bought the Fed's bluff about normalizing rates and their balance sheet. Add this misplaced temporary confidence in monetary policy with a little boost from manipulation schemes via the gold futures market, and you can indeed sucker the market to engineer a fiat rally.

IOW, he's not fundamentally wrong about the dollar, he just failed to understand why the bull trap worked for a decade. But that is what it was.

[Anonymous No.22251626]

>>22251297

>Like is there enough gold to use as a currency in the world

This is like saying "are there enough Bitcoins to use as a currency." The answer is, yes, because, as Bitcoin gets more valuable, you then go down to the satoshi-level. In the same way, you can divide gold infinitely in a digital way. You can buy a cup of coffee, right now, with a gold-backed credit card.

https://www.youtube.com/watch?v=BjqzyqRz_Mc&ab_channel=Goldmoney

The only thing holding back gold-backed crypto is government hamstringing and regulation. But as the recent Russian ban on crypto shows, BTC and other "thin-air" cryptos are not immune from this either.

[Anonymous No.22251681]

>>22248939

But anon it is a scam. Look at all the shitcoins shilled on here by JEETS. A Fucken coin called hotdog? How dense are you?

[Anonymous No.22251908]

>>22248023
>hes right about btc

[Anonymous No.22252447]

>>22251297
>I personally like Peter's social commentary rants the best.
Me too. Best part is when he rambles about financials and then randomly moves into talking about black people

[Anonymous No.22252665]

For me it's Gerald Celente!

[Anonymous No.22253118]

>>22251626
I understand that, but gold is also used for a bunch of other things which I think in combination with what I stated might make it impracticle.

[Anonymous No.22253199]

>>22253118

Gold's having real-world utility makes it more valuable as money, not less so. It gives it additional intrinsic value. If gold goes up, people are simply going to have to pay more for their jewellery and electronics. We don't decide what money is in a vacuum; it simply is what it is. Central banks are reverting to the natural course of things, and hoarding gold; so gold _will_ be money in absence of the dollar.

[Anonymous No.22253469]

>>22253199
The “real world value” thing is so tiresome. Gold was useful as currency way back when it was rare, running a forge was a major effort, and people didn’t know much about how to adulterate it.

Now none of that is true. Sure, gold has a small number industrial applications but far fewer than several other metals, some even more rare.

Virtually none of gold’s value is driven by its practical applications.

[Anonymous No.22253729]

>>22253469

Whether or not what you say is true, (and I disagree with you entirely,) understand that I mentioned the real-world uses of gold in reply to a separate point. The argument of the person to whom I am replying is, if I understand it correctly, "Gold has so many real-world uses that it wouldn't be practicable to use it as money." And what I say is, any real-world uses of gold add to, and not detract from its value.

[Anonymous No.22254107]

bitcoin isnt a speculative asset anymore, 1000s of altcoins are traded against it as if it were the gold standard and people happily move away into bitcoin as a store of wealth as there is no purpose to donate it for products in real life other than speculating against opposing technology. there is no case even if it has 0.2% market cap dominance that it wouldnt be what every exchange trades its altcoins against

[Anonymous No.22254206]

>>22249162
speculating on bitcoin means you speculate it against the us dollar. there is no problem in it crashing to 0 against the btc/usdt chart. there is such an inertia now around bitcoin that would not convince it to drop bitcoin only because it is worthless against the us dollar if such two things could even make sense to trade a useless thing against another useless thing

[Anonymous No.22254262]

>>22253729
I want to subscribe to your newsletter.

[Anonymous No.22254688]

Hold gold, shit on crypto, simple as.

>>22253469
Adulteration of gold is not an issue. If it is adopted once more as a currency you would see banks just doing what they always did in the past, holding deposits and putting notes or some digital form of notes I to circulation (some fractional, some not). Having centralised holding facilities means gold can be tested easily and bought from reputable dealers in mass quantities and people can be sure it is good as gold, so to speak.

Furthermore you would likely see organisations like the LBMA being taken more seriously. If a dealer doesn't have the right endorsements they would be cheaper, allowing consumers to balance the risk (like they should be able to).

[Anonymous No.22254776]

>>22248459
who is she

[Anonymous No.22255129]

in forex the btc/usdt pair just basically means when btc goes up people value it more than their usdt, when it goes down they value usdt more. it would be more entertaining to see the btc/xau chart because i can see some strange thing happen that if the us dollar ever does collapse where would the money go to if not back to bitcoin because the us dollar would lose its purchasing power. so if bitcoin crashes to 0 on the most popular chart bitcoin/usdt, and usdt simultaneously loses all its value, how would it purchase bitcoin again, unless bitcoin simultaneously lost all its value, but how would that correlate?

[Anonymous No.22255164]

>>22248023
Typical rich kike peddling gold
He’s wrong on a lot of things.

[Anonymous No.22255941]

>>22254688
Yes, adulteration is an issue.

You go buy some physical gold from some guy....how do you assay it? Back when gold was regularly used as currency there was a tremendous amount of fraud both on the physical material itself as well as the gold mining prospects. African gold, for instance, was pretty much a complete farce.

I’m not at all saying gold is worse than fiat. I’ll happily admit it is a better system, though. It not as good as what Hjalmat Schlecht put together, but it isn’t bad.

In any case, gold doesn’t have significant practical applications to drive its value. Especially in some post apocalyptic scenario, since probably the knowledge and ability to fraction other metals will not be lost.

[Anonymous No.22256373]

>>22249162
is gold in a bubble atm or is it still a good time

[Anonymous No.22256574]

>>22255941
We live in the digital age now. Adulteration of baby formula isn't possible. How do you think it would happen with gold?

[Anonymous No.22257359]

>>22248023
>the boy that cried wolf all day every year

[Anonymous No.22257677]

>>22248023

[Anonymous No.22257712]

>>22257677
he defends the constitution and says there is too much government, that is what is missing from your image

[Anonymous No.22258272]

>>22248023
>Gold returned 600% over last 20 years
>Boring, largely unknown copper mining stock SCCO returns 2000% during same period

check the chart for yourself, gold is a meme. if you buy gold you're fucking retarded kek.