Comments by "Austin Kole Carlisle" (@AustinKoleCarlisle) on "Peter Schiff" channel.

  1. Peter, you've been a reliable source of common sense lately, thank you so much.
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  2. It all comes down to this, folks: only the addition of goods and services increases standard of living. the addition of currency or cryptocurrency does NOT increase standard of living. currency is a representation of wealth, and the more that exists, the less valuable each unit of currency is because there is only a limited amount of goods and services circulating at any given time.
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  3. a lower standard of living disguised as "freedom" and "independence".
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  4. the biggest pitfall with Crypto is that there is an unlimited number of crypto systems that can be created from nothing. the addition of more crypto-"currency" in our lives does NOT make us better off as standard of living derives from material goods and increased leisure in our lives.
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  5. Thanks for the routine dose of sanity in this crazy world.
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  6.  @23ofSeptember  it IS overblown. people are hoarding toilet paper for a virus that doesn't even cause diarrhea.
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  7.  @peterschiff  But never stop assuming we know what Raycon earbuds are.
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  8.  @peterschiff  I am so sorry you and your family had to go through that ordeal. God bless.
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  9. We all love you man. Hope all is well.
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  10. these crypto "investors" do not understand how wealth is created. it's the addition of more products and resources that makes our lives better--and yes this includes gold and silver. however, the addition of more currency in circulation--including crypto--just results in more inflation. we are not wealthier as a society by the addition of more crypto currency in circulation.
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  11. you don't need notes when you speak from the heart.
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  12. Pretty soon, the definition of inflation is going to be changed to "the unexpected price increase of the price increase". in other words, if the Fed expects 5% rising prices, and we experience 6% rising prices, that's "1% inflation". Mark my words.
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  13. that moderator was horrible. he frequently changed topic and hardly gave Peter a chance to reply after the Marxist.
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  14. If you truly believe in what you're saying, you're never afraid to have it challenged...*cough* Biden *cough*.
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  15.  @JonNobleNobelOne  dont worry, soon enough they'll rebrand it to "Two-Dollar Tree"
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  16. Yes, Peter should have brought up the reduction in quality and size of food as an example of inflation not manifesting as "higher prices".
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  17.  @Oskisono97  nonsense. look up the National Recovery Administration. it was full of ass-backwards economic logic, such as preventing prices and wages from falling, which only exacerbated the recovery.
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  18.  @totalbullion5882  beanie babies were a great investment--until they weren't.
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  19.  @owenbenjaminshapiro6285  200 weeks to flatten your freedom
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  20. lol, you don't listen to Schiff much, do you?
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  21.  @pepleatherlab3872  It's a sign of the times...people wanna get rich without doing the work. Bitcoin and other cryptos are just the latest "scheme" for the average person to get rich. What they don't realize is that for every person who makes a profit off of crypto requires someone else to lose money. It's a zero sum game, no wealth is created and our standard of living as a whole is not improved. It's pure speculation. Gold may go up and down in price, but at the end of the day, humanity is always better off having more gold in our possession, it improves our standard of living. Can't say the same for any crypto.
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  22.  @DegreesOfThree  that technology can be replicated. gold can't be replicated.
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  23.  @bluenami7520  Using US data, I just did the math at $16.50 (median wage) and 61c per pound of sugar, so it would take you roughly 4 hours to buy 100 lbs of sugar today, on average. Compare this to 100 years ago, the historical average price per pound of sugar (not including the unusually high price in 1920) was less than 4 cents per pound, and the median wage in 1920 was $1.63, so you could buy nearly 100 lbs of sugar with just 2 hours of labor compared to 4 hours today. Now when you price the 1920 average wage in silver, purchasing power of that wage back then would be the equivalent of $40/hr today and that would buy you 100 lbs of sugar with just 1.5 hours of labor.
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  24.  @philroe2363  hopefully that wasn't sarcastic...lol. too many people caught up in crypto hysteria do not understand basic economics.
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  25.  @JA-zh5xi  Bitcoin was created as a HUGE DISTRACTION from precious metals. Keep the peons distracted with 1's and 0's, meanwhile the truly wealthy buy tangible assets.
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  26. but RAYCON EARBUDS though
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  27. Saying "money supply" assumes that money is actually being circulated. If we count things that aren't being circulated as money, then what's the point of counting something that isn't existing in reality? The Fed could claim there is $10000000000000 being kept some place in order to claim that printing money doesn't cause inflation.
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  28. I usually never want Peter to be wrong except for this situation.
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  29. @Mark Johhson but what could have been produced using the same resources and labor in the private sector? what waste was created through government bloat and management when the private sector does this more efficiently?
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  30.  @astrahcat1212  Ever notice how the only solution these politicians have is giving away "free" shit, or barring that, taking from the rich and giving to the poor? We are officially in the race to the bottom when it comes to politics and the economy. The last statesman we had was Ron Paul, but I guess society wasn't ready for the truth.
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  31. but he actually said "lull before the storm"
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  32.  @DegreesOfThree  diamonds are a mineral, gold is an ELEMENT. apparently you must believe in ALCHEMY in order to believe bitcoin is wealth.
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  33.  @jorgequintanillare  no...those who can't teach, become gym teachers.
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  34. Bitcoin is deeds to land on a planet that you can't visit. What value does that have when you can just own land on earth (precious metals) which have actual uses?
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  35. It's political, as Schiff pointed out in this segment. When people blame businesses instead of the central bank for higher prices, then people's anger is misdirected as to the source of rising prices, and we get the current political climate today where people feel entitled to more and more profits of businesses, e.g. $15/hr for flipping burgers.
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  36. the price of everything is significantly higher over the past year--but precious metals are....down? things that make you go "hmmm"
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  37. just another form of fiat. nothing new. we all saw what happened to the price of gold since the Fed was created, right?
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  38.  @nosouponhead  i know right? we already have Rogan.
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  39. I love the chip on your shoulder, Peter!
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  40. They should just change it to "Peter Schiff IS Right" at this point. "Was Right" implies that it isn't always happening.
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  41.  @duanejackson6718  yeah and there is nothing stopping another crypto from employing the same "finite supply" scam. think of the profits you could make if you got in early!!
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  42. and Wolff constantly mischaracterized Schiff's argument.
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  43. Bubble? No... Inflation.
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  44. the government just needs to get on with it and declare personal property illegal, i mean that's where this is going, right?
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  45.  @ligerllama  A productive economy that would have seen prices decrease by 5% has prices remain stable due to the central bank creating more currency. Is that still inflation? Preventing prices from going down IS inflation!
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  46. putting the cart before the horse
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  47.  @bluenami7520  But, rising prices is caused by many things, oftentimes from expanding the money supply.
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  48. Schiff-flation
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  49. Scott Nations tried his hardest, though. LOL
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  50. can't the government just get rid of a zero or something?
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  51.  @mspaic10  you're saying the only people we should listen to are those who are financially successful? warren buffett may be rich but he's equally dishonest when he claims he wants to pay higher taxes but does everything in his power to pay as low taxes as possible, and people eat up everything he says.
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  52.  @mrlukemichel6858  the US is doing no worse than any other country.
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  53. in the 19th century, the US became the most successful and wealthy nation in the shortest amount of time, not from being a socialist nanny state, but by embracing free markets and capitalism.
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  54. how many people do you employ?
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  55. *ruining this country.
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  56. Podcast about gold's breakout coming in 3, 2, 1...
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  57. sounds like a store of wealth to me.
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  58.  @BullsEye3333  how does increasing the total supply of currency through crypto like Bitcoin make our lives better off? it doesn't bring more goods and services into the economy, in fact, it uses up electricity that could have gone to something productive like heating a home in a time where energy is scarce and people might freeze to death this winter.
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  59. why would he alter his views on Bitcoin? if it looks like a duck and quacks like a duck, it's a duck!
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  60.  @footube3  Great point. Altering definitions of words is a gradual process so people don't realize what is happening, coincidentally, much like how inflation itself is a stealth tax.
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  61. the price of gold will stay the same, but our standard of living would increase.
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  62. don't forget cryptos are transitory, too. they can be created from nothing.
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  63. No offense to the other guys, but Peter's the only one you should listen to.
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  64. I don't want Peter Schiff to be right again...
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  65. the problem is we're simply not ready yet as a species to have heaven on earth. think about it, we have all the resources we need right here on earth to survive and prosper, no debt needed.
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  66. unfortunately, more people are drawn to the supposed "gains" of Bitcoin et al because of the inflationary pressures and rising cost of living, trying to "get ahead". but when it comes down to it, they're all just playing a big game of hot potato with no increase in standard of living achieved on a net scale.
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  67. for every winner there is a loser. CRYPTO IS A ZERO SUM GAME. cryptos do not improve our standard of living as they can be essentially replicated ad infinitum.
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  68. this person actually believes the fundamentals were solid before COVID.
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  69.  @robinaire100  the companies behind crypto "mining" are doing useless work in order to obtain tokens that theoretically could be created without the work being done. it is fake "scarcity" unlike precious metals which are naturally difficult to obtain and have a limited supply in the earth's crust.
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  70. Peter, you fucking OWNED Rickards at the end.
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  71. you conflate correlation with causation. think of how much worse off everyone would be if gig-economy jobs were outlawed; those jobs are filling a demand in the market. nobody is forced to work them. also, these services are in demand from consumers who want a better quality service compared to what they were getting before with taxis, food delivery service, etc. your reasoning is similar to what people have with deflation and the Great Depression: "man, all of that deflation sure made everyone suffer unnecessarily". No, deflation was a market response to a fall in demand, think of how much worse the Great Depression would have been if prices were prevented from falling and artificially raised? Oh wait that is exactly what happened under FDR and why it lasted longer than it should have, but that isn't talked about much, the narrative we get is "Deflation is bad".
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  72.  @Aaron-ju2gp  the government doesn't "do" capitalism, though. the less the government does while maintaining social order and upholding contracts, the better.
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  73. and what is stopping the technology behind Bitcoin from being replicated thereby diluting the utility of Bitcoin? face it, the only reason why Bitcoin has any value is because of name recognition and hysteria, so you better sell why you can still sell them to a greater fool, because that opportunity won't always be around as more people wise up to this reality.
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  74. Agreed. I can't believe the people who criticize Peter for his consistent message, if anything that trait should be praised in this day and age of transient integrity.
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  75.  @The_Angry_BeEconomist  he has an understanding of bastardized economic thought, but not of reality.
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  76. so, as long as other people have it worse then monetary system injustice is okay?
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  77.  @rogerburn5132  agreed. i just hate when people say "well other countries have it worse than the US" as if that makes everything okay.
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  78.  @a.r.gentum6517  don't fall for the generational "us vs them" propaganda. if anything, "us" is we the people, and "them" is our central bank.
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  79. the ONLY time such a high tax rate was ever feasible was the USA during the 1950s when you could literally be an idiot and still make money hand over fist.
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  80. Nonsense. There is an infinite supply of cryptocurrencies that can be created. There is only a finite amount of precious metals in the Earth's crust.
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  81.  @bloodline1488  No, I'm not talking about competing altcoins that have an infinite supply, I'm simply talking about the supply of all cryptos (including bitcoin) combined is essentially infinite. Yes, the comparison to fiat currencies is similar. But look at what you're doing: you're trying to justify which fiat/crypto is better than another. The fact remains is that any crypto was created from nothing and nothing is inherently backing it (aside from speculation). Once the hysteria over speculative potential goes away, so will the popularity of cryptos and they will all eventually go to zero once the majority of people realize that something cannot be a good investment and also affordable. therefore, cryptos can never be currency. they are simply the latest form of "get rich quick" schemes, and i'm not surprised cryptos are popular these days in our climate of entitlement and expecting something for nothing.
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  82.  @homageseeds5103  gold is NOT an investment. gold preserves purchasing power over time. bitcoin is a speculative investment, it could be 10x more valuable tomorrow or drop by 50%. how is that a store of value? sure some people make money off of it, but for every person that buys at 10k and sells at 60k, there is another person that bought at 60k and sold at 10k.
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  83. it's essentially just gambling combined with "hot potato". some people are going to get ahead, but overall, the net result is a decrease in standard of living for EVERYONE because all of that energy used to mine bitcoin, etc could have been used more productively besides just speculation.
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  84. try to create your own currency, see what happens (hint: it's not pretty). competing currencies would be the best thing for people, yet it's the last thing the Fed wants, because competing currencies would literally dismantle the Fed overnight. do you think people would rather choose a currency that loses 2-3% every year, or one that doesn't lose any value at all, or even gains value? exactly.
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  85. It wouldn't be all doom and gloom if the government and central bank were actually making sound decisions. Until that changes, expect more of the same.
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  86. or it took him 24 hrs to cam down....
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  87. Peter, remove this annoying ass bot from your channel. Thanks.
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  88.  @actualideas8078  please...
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  89. Bitcoin isn't the only crypto to exist, there will always be competing cryptos that will drive down value. You bitcoin bots seem to ignore this major oversight, it doesn't matter if there's "built-in deflation" when there are 1000s of competing currencies driving down the value, ultimately to ZERO.
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  90. it's a giant game of hot potato with ZERO wealth creation.
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  91. the "income" tax is another example.
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  92. why do central banks hold gold?
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  93.  @mdmill9308  why not diamonds?
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  94.  @mdmill9308  how can you say gold is overvalued when there is an entire paper gold market that is fractional in nature and doesn't require gold backing?
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  95. precious metals are naturally scarce. cryptos are common because they are created out of nothing.
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  96. somebody who predicted QE infinity AND a return to 0% interest rates?
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  97. the fundamentals haven't changed, so why would he change his predictions?
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  98. Exactly. All these people talking about "velocity" and such are misguided, there are mistakenly trying to create a single link between inflation and rising prices, rising prices is usually the result of inflation, but not always.
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  99. there is nothing healthy about the current stock market. gold is objectively undervalued. big difference.
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  100. "Anecdotal evidence."
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  101. yeah,, the only reason taxes are so high is because spending is so high.
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  102. Pete, real quick: I haven't watched a video of yours in over 2 years. Last time I watched, you were saying the Fed couldn't raise rates anymore. Just wondering if you've changed your mind.
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  103. I'm not quite ready for Peter to be right again!
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  104. question: if bitcoin goes down to 10 cents, are you still going to be as fervent about it as you are now, "because of the utility"? no, you're going to be into the other flavor of the week that has the most upside speculation.
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  105. the truth shall set you free.
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  106. he didn't have to do a 180 though....Trump is bad, but Biden is demonstrably worse for America and has no shot in hell
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  107.  @mrlukemichel6858  Trump is leading us into war...by being the first president in decades by not getting us involved in a war?
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  108.  @mrlukemichel6858  just evaluate and question what you're told, we're being told a giant lie because of the military industrial complex.
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  109.  @mrlukemichel6858  if COVID never happened we wouldn't even be having this conversation. you let a politicized pandemic distract you from the job he has been doing. you realize that the COVID issue was the last thing people who hated Trump had to use against him before reelection, right? the sexual harassment didn't work, the Russian conspiracy didn't work, the impeachment didn't work, etc etc. i mean look at CNN, they practically blasted the COVID death total everyday and salivated at the growing number because they knew that it ultimately would make Trump look bad. it's fucking pathetic. those people and that mentality is the problem. they don't care about people dying, the military industrial media complex just wants to remove someone from office who wont get us into more wars. think for yourself for once.
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  110. He had eyelid surgery (blepharectomy), by the looks of it.
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  111. takes one to know one. schiff refers to the old definition which has been changed for political reasons, and you fell for the propaganda hook line and sinker.
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  112. he's usually right on most things. timing on the other hand can never be perfect, but that applies to anyone.
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  113. well when the course we're on doesn't change, why would Peter change his prediction? he has said many times if you want to make money buy stocks, so what point are you trying to make?
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  114. Do you really expect it to go up everyday or something?
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  115. you forgot to mention that our currency isn't worth anything these days, before 1964, our coinage was made out of precious metals and preserved purchasing power. a silver quarter in 1950 could buy you a gallon of gasoline. that same (silver) quarter today has the same purchasing power and can buy you a gallon of gasoline, but a modern quarter can't. so in reality, the price of gasoline didn't go up, but the value of our money went down; a reduction of wealth through the destruction of purchasing power.
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  116. crypto is a zero sum game. for every winner there is a loser. it does NOT improve our standard of living, it's just a giant waste of electricity.
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  117.  @jamilahperry7352  did people come to America in droves because it was a nanny-state?
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  118.  @DegreesOfThree  would those people still hold if they knew the price was going to 1 cent in the future?
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  119.  @devo9167  the market didn't "choose" bitcoin for it's inherent qualities, the market "chose" bitcoin because the lowest common denominator wants to get rich quick.
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  120.  @devo9167  not salty, just can't believe people are that stupid on average. but i guess i'm guilty of holding people to higher standards than what they deserve.
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  121. the cure can't be worse than the disease.
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  122. how's that inflation coming along?
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  123.  @haveabeer123  the addition of more bitcoin does not improve our standard of living. the addition of more gold improves humanity's standard of living. Peter isn't mad at Bitcoin, he's mad at people for not understanding basic economics.
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  124. yeah, now there is no oversight for fiat manipulation.
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  125. you dont listen enough if you think he has no solutions.
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  126.  @Bittrio  if bitcoin was a monopoly, you'd be right. but, since that tech can be replicated, the value eventually goes to zero.
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  127. I tried finding RCM 10 oz bars on the web, it's either pay $2+/oz over spot or "out of stock".
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  128.  @shadoninja  so in other words, it's popularity creates value? what happened to beanie babies, again?
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  129.  @shadoninja  it's only as valuable because a competitor hasn't replaced it yet, or it hasn't simply fallen out of favor entirely. if the only thing creating "value" is the popularity of speculation, then it's not even a currency, it's just gambling.
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  130.  Leo Borgelin  okay? so why does technology have to be a currency, then? currency is a representation of wealth. technology can be replicated. the two are incompatible.
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  131. yeah, the price of physical won't change much, but you'll see premiums climb, eventually surpassing the physical price.
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  132. bitcoin is a speculative asset, gold is insurance against inflation. one of these will still exist in 100 years, which one do you think that will be?
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  133. except reality.
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  134. if we're willing to travel intergalactically for a shiny rock then we must think it's pretty valuable, no? meanwhile, joe the computer programmer just made another crypto system on his computer.
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  135.  @bradleymcdowell9089  so in other words, gold will remain highly valuable
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  136.  @lchpdmq  gold was never and is not an investment.
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  137. But think of how much prices would have gone down if we were allowed to experience that benefit had the central bank not inflated the money supply, even if it wasn't enough to "cause inflation". The inflation at any cost mindset assumes prices must rise all the time, and look where this has gotten us?
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  138. have you looked at the price of american silver eagles? about $24/each. crazy.
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  139. why do the revisions always result in lower inflation?
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  140.  @ChrisHamberg-ok2cz  the problem is lower prices??? i can't remember the last time i was financially impacted by paying less for something.
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  141.  @ChrisHamberg-ok2cz  you act as if reverting to living within our means is going to collapse the entire world. you've been fooled by propaganda. but here's the truth: people will still consume, nobody is going to put off eating today because the price of a hamburger is going to be 2 cents cheaper next week.
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  142. all goes according to plan...
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  143. Maybe only physicists.
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  144.  @CeNTuRiOn33100  better than being a poor guy who doesn't want to pay any taxes.... besides, who actually wants to pay taxes?
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  145. He has been educating the masses about proper monetary policy. That in itself is a gift to mankind.
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  146. ah yes, because businesses never thought of allowing people to work from home before. good thing covid came along and forced capitalists to make the right decision.
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  147. The modern definition has been changed for political reasons, and Peter mentioned this.
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  148. you need to listen to Peter more.
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  149. why wouldn't you believe in gold? it's called the gold standard for a reason.
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  150. https://en.wikipedia.org/wiki/Doge_(meme)
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  151. it's the ultimate consequence of MMT and loose monetary policy.
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  152. for every big winner in crypto, there are 10 losers. it's a pyramid scheme, after all. NO wealth creation at all. no improvement in standard of living. it's a farce.
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  153. Trust me, kid. Peter is the only one worth listening to.
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  154. yes, prices will naturally go down in a technologically productive economy. we are not allowed this benefit under modern monetary policy.
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  155. if bitcoin was the only crypto in existence, he would probably be wrong. but cryptos can be created from nothing and the collective effect lowers the value of each individual crypto to nothing. on the other hand, tangible assets that improve our standard of living either came from nature or they were created by labor and technical knowledge. trading virtual 1's and 0's do not improve humanity's standard of living, it's literally just gambling.
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  156.  @zarni000  who said he needs to be on time? ever hear the saying i'd rather be three hours too soon than a minute too late.
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  157.  @zarni000  your assumption is that he claims his strategy will make the most money. that's false. his strategy is the one that will insure against dollar devaluation.
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  158.  @zarni000  who could have predicted the Fed would sell out the country's future through QE?
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  159.  @asumamonsta  just ask yourself one question: would the addition of more bitcoin on planet earth increase our standard of living? or would the addition of more gold increase our standard of living?
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  160.  @asumamonsta  the tech behind bitcoin is what's valuable, not bitcoin itself. bitcoin just has brand recognition at this point, as there are plenty of alternatives. think of it like yahoo.com and google in 1999, and we all saw how that turned out a few years later. besides, gold is valued simply for existing. people don't own bitcoins because they enjoy owning them, they enjoy owning them because they get to trade them in for things they actually value.
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  161.  @asumamonsta  of course you can create digital scarcity, bitcoin was created by someone, wasn't it? but scarcity doesn't make something valuable, bitcoin is valuable because of the speculative potential that people see in it, plain and simple. like i said, people value bitcoin not for bitcoin itself, but for the things they believe they will be able to buy from selling bitcoin at a higher price than they bought in.... this fad will die out, hope you're not holding the bag when it does. can't say i didn't warn you.
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  162.  @asumamonsta  gold isn't speculation. gold is literally the ultimate form of money.
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  163.  @asumamonsta  well obviously that is the implication of my post, fiat replaced gold not because gold failed, but because gold kept central banks and governments honest. bitcoin is fiat, it was created out of nothing. like i asked you before: would the earth's standard of living increase if we had more bitcoin? of course not, because it's just a speculative asset where people try to get rich for doing nothing. we would benefit from more gold on earth because gold has unique properties that are innately beneficial to the human experience, and the more we have of it, the more our lives will improve.
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  164.  @asumamonsta  but i asked you, would the addition of more bitcoins make our lives better off? the obvious answer is no.
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  165.  @asumamonsta  but answer my question, would more bitcoins make our lives better off? I don't care about the supposed hypothetical limit. plain and simple: would more existing bitcoins make our lives better off?
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  166. Gold at record highs and Pete hasn't released a video yet?
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  167. the point is that it shows the complete nonsense of crypto valuation.
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  168. shouldn't that just make you doubt bitcoin, instead?
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  169. Crypto, for instance?
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  170.  @azadindustries.official  sounds like a nice life, who wouldn't want more things made out of or covered in gold?
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  171. yeah but nothing says those coin systems can't be cloned/replicated indefinitely.
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  172. when you realize that gold IS money and retains purchasing power over time, then you no longer care about the USD price.
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  173.  @DavidLasoff  Considering that we are more productive than ever as a global society, prices should be FALLING but central banks REFUSE to allow that to happen, so in reality, prices should be 10% lower next year, but CBs "inflate" so we only get 1%, that's still 11% inflation!! and we feel the effects of this unnecessary 11% inflation because everything in the market is working in a 10% deflation environment but the continued rising cost of living magnifies the negative effects we would normally see.
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  174. if gold isn't valuable, then why do central banks hold it? why not diamonds?
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  175. just think of it as a bias towards something that has withstood the test of time.
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  176. Can't believe Hannity isn't familiar with Peter.
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  177. and replicable??
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  178.  @whisper1736  yeah well humanity didn't go extinct before the FDA was created. after all, people buy food that will ultimately expire and they will eventually have to decide whether their food is still okay to eat or not by using their own senses and just plain old common sense.
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  179. gold is insurance against inflation.
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  180. until he says Biden will win.
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  181. give it time
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  182. there's a lot of stupid people out there who want to make a quick buck. that doesn't validate bitcoin's merit, though.
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  183. a lot of people lost money on bitcoin and are finally seeing the light. but, can they convince more suckers to enter the market to drive up prices? stay tuned for the shocking conclusion!
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  184. yeah, and they mistakenly choose fiat imaginary currency instead of something tangible and real like precious metals.
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  185. wow, what to compare apples to oranges. here's a thought: if there was only one crypto allowed in existence, your argument would be correct. but there are INFINITE crypto systems that could be created.
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  186. hence the immorality of taxing gains on gold.
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  187. this is exactly why the 16th amendment is unconstitutional and should have never been passed.
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  188. It's all part of the same system--the Federal Reserve, which is part of the government. He's not wrong.
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  189.  @hiram.j  well, he will use USD, wont he? therefore its part of the same system. but if he uses gold then its a step in the right direction.
    2
  190. if printing wealth was that easy, dont you think we would have done that by now?
    2
  191. btw, did you hear that Biden is leading in the polls???
    2
  192. who said anything about no government?
    2
  193. @Yo Momma all the more reason to restrict the size and scope of government, which is exactly Peter's point.
    2
  194. @Yo Momma nobody suggested anything of the sort
    2
  195. @Yo Momma the level of government in the US is anything but minimal. you need a license to cut hair for crying out loud.
    2
  196. @Yo Momma using your logic, we'd need a license for every transaction in the market, you know, to ensure that people don't get "duped" and are used as a "guinea pig", right? i mean where do you draw the line with that kind of reasoning? it makes way more sense to assume people are rational actors in the marketplace and problems will sort themselves out more efficiently than stifling growth and progress by handicapping trade and commerce with unnecessary burdens.
    2
  197. if Wolff thinks the people who control government is the problem, then why does he want to increase the government??
    2
  198. Ron Paul was right.
    2
  199. because the Fed continues to go down the same misguided path, eventually there will be a crash. why is pointing that out "wrong" in your eyes? if the Fed did the right thing Peter wouldn't be predicting all this doom and gloom. don't shoot the messenger.
    2
  200.  @edjackson3603  better to be three hours too soon than a minute too late.
    2
  201.  @LibertarianRF  at least admit that there isn't anything inherently unique about bitcoin, blockchain tech can be replicated ad infinitum. bitcoins' value is its popularity and nothing more, which is ultimately based on speculation.
    2
  202.  @robinaire100  why would you invest in something you don't believe in?
    2
  203.  @robinaire100  so you believe in crypto as far as you believe it'll make you money, and that's about it, right?
    2
  204.  @robinaire100  just know that cryptos are merely tokens for wealth, they don't represent actual wealth.
    2
  205.  @robinaire100  no, stocks are ownership of a company that produces real things or services.
    2
  206.  @weignerleigner3037  people are running out of money during an inflationary crisis?
    2
  207. Velocity of money is the attempt to bridge inflation and rising prices. Inflation is simply the expansion of the money supply, and rising prices has many causes, including inflation.
    2
  208. it works until it doesn't. just like how bitcoin is "great" until it goes to zero.
    2
  209. the host clearly favored Wolff over Schiff, it was 2v1 at times.
    2
  210. gold is the ultimate form of money. it is currently outlawed from existing as money due to legal tender laws.
    2
  211. why should ANYONE pay debt if the government can create money out of nothing?
    2
  212. he would have loved something created from nothing?
    2
  213.  @Aaron-ju2gp  the government doesn't "do" capitalism, though.
    2
  214. we didn't talk about race for most of humanity....people just associated with like-minded add culturally similar individuals.
    2
  215.  @Eddie-3466  Although there are plenty of suckers out there and you can probably sell your Bitcoin to a greater fool in the near future, don't get caught up in the hysteria of speculation and hype. Eventually the tide will turn and Bitcoin, including other cryptos, will lose their favor as people come to realize *there is nothing inherently valuable or scarce about cryptos because the technology can be replicated*, unlike precious metals which have a limited amount of supply in the Earth's crust.
    2
  216. Now that bitcoin has made national and global attention, anyone who wanted to buy some would have already bought. What happens to the price when nobody else buys in but the cost to keep mining goes up and up?
    2
  217. not to mention capital gains
    2
  218. bitcoin was created from nothing.
    2
  219. glad you admit that Bitcoin is only as good as it's gains. it was never about utility or ease of payment, it was always a speculative ponzi scheme.
    2
  220. ​ @sommi888  at least tech companies do something useful. cryptocurrencies can be created out of nothing and replicated ad infinitum, the only thing helping particular ones (Bitcoin, etc) maintain value is this hysterical assumption that their prices will keep going up in the future, it's all one giant speculation game. Tell me, would you be just as hysterical about them if Bitcoin was currently worth 50 cents and the price was dropping every year? Admit it, you're only in this because you believe you can sell to a greater fool in the future. That, my friend, isn't "inherent value" it's a fucking bubble.
    2
  221. If the Fed wants inflation then maybe it should start measuring it.
    2
  222.  @robertwhite1810  If you're not a fan, then why are you here?
    2
  223. increased scarcity doesn't mean much for something whose utility can essentially be replicated ad infinitum.
    2
  224.  @webcomber  so...you're saying Eric blew him away because...Bitcoin is popular or something? what happens when Bitcoin loses value because people collectively realize that cryptocurrencies are created out of nothing and there can be an infinite amount of digital currency in circulation unlike Gold and Silver which have a finite amount in the Earth's crust?
    2
  225. you're missing the point. it's not the pin that pops the bubble that's important, it's the bubble.
    2
  226.  @mdmill9308  coincidentally, we are resorting to more and more drastic means of sacrificing future prosperity for the sake of maintaining the status quo of today. I mean seriously, negative interest rates? QE infinity? sure, it might allow our current economy to stay afloat, but just because "it's the best time in the history of mankind for competent responsible people" doesn't mean it's because of our central bank policy, it could very well be *in spite of*. and, why are we pretending like it couldn't be even better without all of the, you know, sold-off prosperity of the future? it's not Schiff's fault he couldn't predict ineptness of our central bank, if anything the fact that we have to continually go down the rabbit hole of fantastical monetary policy shows that he is right in his analysis, just not his prediction---YET.
    2
  227.  @mdmill9308  and once again, the fact that our central bank has to go down the rabbit hole of fantastical and extreme monetary policy in order to keep the economy from crashing proves just how fragile the system really is, and this also proves that Schiff's analysis is accurate. you can't argue this fact. you can argue that he is wrong in his prediction, sure, but just because he can see the upcoming cliff and realize we have no brakes doesn't invalidate his claim that we're going to go off the cliff. you should be more concerned with our "lack of brakes" or even the "cliff" for that matter, not about the exact second the car goes over the cliff, you get it?
    2
  228. if corporations are the government, why do you want to increase the size of it?
    2
  229. because the smart money is in physical, everyone else is going to jump in pretty soon. if you don't hold it, you dont own it!
    2
  230.  @deegoa  try a local shop first, at least you can see what you're getting, but beyond that, try any reputable online dealer. just be prepared to pay a high premium, but just think of it as a "fee" for the security of actually owning something of value.
    2
  231. why wouldn't he be involved in something he believes in?
    2
  232. @Yo Momma notice your example wasnt *employee owned/operated*.
    2
  233. if printing money created prosperity, why didn't we just do that from the start? man, we're such suckers for working all those years!
    2
  234. human nature is best controlled through capitalism--you are compensated for providing value in the economy.
    2
  235. real wealth, unlike cryptos.
    2
  236. but that feature isn't unique to bitcoin.
    2
  237. it is backed by entitlement--expecting something for nothing.
    2
  238.  @cactiman  gold and silver already serve that purpose. and they are actually finite, unlike the whole of cryptocurrencies.
    2
  239. the premiums tell the real story, here. physical demand is through the roof, smart money is there, and everyone else will soon follow.
    2
  240. it's never to late for Austrian Economics.
    2
  241. Jim was talking about rising prices (mistakenly called "inflation"), Peter was talking about monetary inflation.
    2
  242.  @ef7480  Exactly.
    2
  243. the only reason precious metals sold off from the all-time highs was because people bought into the lie that the Fed did the right thing. the face that QE has restarted means they in fact did the wrong thing. Just a matter of time now..
    2
  244.  @hvaball150  yeah, no world wars.
    2
  245.  @hvaball150  so many died in the civil war because the US government reneged on the constitution and didn't allow its citizens to secede.
    2
  246. why not just say rising prices?
    2
  247. if bitcoin were only worth 50 cents, would you still be claiming Peter is wrong? just because bitcoin has a lot of speculation behind it, doesn't mean it's a stable currency. it's pure speculation and nothing more. have fun.
    2
  248.  @thanasispanification  beanie babies were also the "perfect investment"--until they weren't.
    2
  249.  @thanasispanification  newsflash--bitcoin is only as valuable as it's popularity, there is nothing inherently unique about it, anything it does can be accomplished by another crypto. since this subverts the supposed "built-in" deflation, there is a net downward pressure on prices, but bitcoin is still valuable due to being the first major crypto along with huge speculation behind it. once the hysteria dies down the price will eventually return to which it started--ZERO, it came from nothing, it will return to nothing. contrast this with precious metals, that came from a supernova and only have a limited amount in the earth's crust, that is true scarcity, and each metal has unique properties unto itself. don't get me wrong, i'm all about disrupting the fiat-based central banking system, but crypto isn't the solution--it's the solution for people who want a solution, but who don't have an idea of what constitutes "value" creation.
    2
  250. the reason why he hates on bitcoin is because there is nothing inherent about bitcoin to back it's value, it's simply all based on speculation. the blockchain technology is not unique to bitcoin. competition will eventually reduce the price of any particular crypto to ZERO. sure, some cryptos might spike up in value here and there, but that is just speculation and they cannot function as a currency being that volatile.
    2
  251.  @CJnh5vp  all i can say is, get out of bitcoin now while there is still a greater fool willing to pay more money than what you spent.
    2
  252. that's 45k lost money from some future bagholder.
    2
  253. Bitcoin is fools gold in the sense that people think it's "scarce" and "deflationary" and therefore has value, the problem with this thinking is that it ignores the THOUSANDS of other cryptos that can easily take the place of it...because crypto isn't scarce at all, it is created from nothing and therefore has zero value to humanity. imaginary 1's and 0's that we create on a computer screen do not improve our standard of living.
    2
  254.  @jaydmatacarita  bitcoin is pure speculation
    2
  255. Peter, you're still a badass.
    2
  256.  @peterschiff  Thanks for all your hard work. Keep up the good fight!
    2
  257. yet
    2
  258. And Ben Swann is one of the sharpest guys around.
    2
  259.  @KJ-bc3de  that doesn't imply bitcoin is the solution. there are a lot of people who want a get rich quick scheme.
    2
  260.  @KJ-bc3de  cryptos are created from nothing backed only by "faith" in said crypto. it's pretty much fiat, and yes, I know I know there is a set limit to the number of Bitcoin in existence, but when you combine it with the innumerable cryptos that can be created, the utility is essentially diluted to nothing for any crypto, and the only thing making it valuable is speculation and hope of selling it to a greater fool in the future. contrast this with precious metals which ARE finite in the earth's crust, and have a specific utility/property that can't be replicated.
    2
  261.  @bmrigs  Peter is usually right on the money. He is way off the mark, here. Like, completely.
    2
  262. "Realistate"
    2
  263. so you're trading in your fiat for fiat? you realize crypto was created out of nothing, right? there is literally infinite crypto systems that can be created, because they come from nothing.
    2
  264.  @Avatar013  just realize it's nothing more than gambling. remember crypto is only as good as what you can purchase with it.
    2
  265. you realize that crypto gains can only come about through someone else's loss, right? it's a zero sum game, unlike gold which is a STORE OF VALUE and is a hedge against inflation.
    2
  266. Bitcoin is digital and can be controlled, as well. unless you think electricity can't be shut off.
    2
  267.  @wanjohimike6602  bitcoin is a zero sum game of hot potato, every gain someone has came through the loss of another. our standard of living is actually worse off because the energy used to mine etc could have been used more productively on things that we can actually use and improve our living standards.
    2
  268.  @GenXstacker  under a gold standard, people would have more savings (due to living within their means) and would be better able to ride out any economic uncertainty than they do today.
    2
  269. just because the FRN is the problem doesn't mean bitcoin or any other crypto is the solution!
    2
  270.  @filho_da_noite_amigo  WHAT deflation? have you looked at the price of everything over the last year?
    2
  271. How can Peter not be upset when people are using a bastardized definition of a word that was changed for political reasons?
    2
  272. people said the same thing about beanie babies. why is it different this time?
    2
  273.  @pgaquigz1125  so bitcoin is only as good as it's speculative value? would you be just as fanatic about it if it were worth 10 cents?
    2
  274. Peter, if you could please explain how gold is lower than last year despite all of this inflation I would really appreciate it. Please and thanks.
    2
  275. well there's a lot of stupid people out there who want something for nothing, what better way to do that then pray on a greater fool in the future purchasing your bitcoin for a higher price than what you paid?
    2
  276.  @englishpayerofgermantaxes8186  now apply the same logic to cryptos. it's just the latest form of "get rich quick schemes".
    2
  277. no, people bought the lie that the Fed made the right decisions and "saved" the economy. remember, QE was only supposed to be temporary AND the treasuries were going to be liquidated. now that we know it was all a sham, gold will surely be going higher as more and more people realize that we never really recovered from the financial crisis, we merely papered over it.
    2
  278.  @chriscash782  at least it is something. what good does 1s and 0s on a screen do you in an emergency?
    2
  279.  @chriscash782  gold has real world uses and improves our standard of living, 1's and 0's don't.
    2
  280. That's supply and demand. It also applies to currency. The problem is, just because consumer prices don't rise doesn't mean an expansion of the money supply didn't occur. Therefore, an expansion of the money supply can only result in prices going up (not down), and that is an inflationary force, without it prices would be even lower.
    2
  281.  @anternynova1630  people are free to do that now, but they don't. why? people don't want the risk of running and operating a business, they just want to show up, work, get paid, and go home.
    2
  282. if bitcoin was a monopoly, yes, your logic would be sound. but competition exists with cryptos, and competition lowers prices. basic econ. so much for built-in deflation. add to this that bitcoin has name recognition and ridiculous speculation and that's why the price is so high. this is unlike precious metals, precious metals have a limited supply.
    2
  283. If you knew anything about value creation, you'd understand why Bitcoin is completely speculation and nothing more.
    2
  284. why would he change his views if it's based on knowledge and wisdom?
    2
  285.  @Moshe_Dayan44  Medicare.
    2
  286. ​ @thanasispanification  just because Bitcoin is the most popular "name-brand" crypto doesn't mean it's going to be that way in the future. remember when myspace was bigger than facebook?
    2
  287. any technology can be replicated.
    2
  288.  @digi2twink815  the technology is valuable, sure, but not any particular crypto using it, especially those that depend on manufactured "scarcity" of their currency.
    2
  289.  @digi2twink815  but owning stock is owning a small portion of a company that produces things that society values. crypto does not produce anything that improves our standard of living, it essentially involves trading money around between individuals with the exchanges taking 2% off the top for every transaction.
    2
  290.  @bluenami7520  You're right, monetary inflation is one thing, and CPI is another. But calling them both the same thing is misleading.
    2
  291.  @christianjensen5667  If central banks wanted inflation, all they have to do is stop changing how they measure it. Don't you think it's strange that every change in how CPI is calculated always results in less inflation? Clearly no agenda there.
    2
  292.  @christianjensen5667  No, that was Peter's point.
    2
  293.  @christianjensen5667  Just because the government changes how they measure rising prices doesn't make that reality go away. "You can call the sky pink all you want, but it's still blue", indeed. Like I said, if the government wanted more inflation, all they have to do is stop changing how inflation is calculated and start measuring reality.
    2
  294. ok, so it encouraged people returning to work, then? i bet you also believe the minimum wage doesn't affect employment opportunities, also.
    2
  295. i'm pretty sure peter says there will come a time when there are no more greater fools left for you to sell bitcoin to.
    2
  296. thank you for being one of the few to see this craziness for what it really is.
    2
  297. Peter has already proven his economic prowess, why should he change his view of Bitcoin just to please a few people? If anything, the fact that he can see Bitcoin as the ponzi scheme it is should be all you need to know about it.
    2
  298.  @cactiman  it's value is predicated on more and more people "joining" the scheme. however, it's more popular than ever yet it's only about 1/2 of its all time high. better sell to a greater fool now than to wait until it all implodes.
    2
  299.  @cactiman  sure, believe in the tech all you want, but realize that the tech isn't exclusive to bitcoin, it is just the most popular at the moment.
    2
  300.  @cactiman  there are plenty of alternatives to bitcoin, the tech behind bitcoin is NOT exclusive to bitcoin.
    2
  301.  @cactiman  good luck, but just understand that bitcoin is reliant on the greater fool's theory.
    2
  302.  @cactiman  using your logic, beanie babies were a store of value, too--until they weren't. something isn't a store of value if it is a speculative asset, it's a speculative asset.
    2
  303.  @cactiman  deflation doesn't matter because the tech behind bitcoin isn't unique. the ONLY reason it is valuable is because it is popular ( due to it's speculative potential, not inherent utility).
    2
  304. don't you see? we've finally figured out a way to create wealth from nothing! man, we were so STUPID in the past to believe hard work and personal thriftiness is the key to success! now in the age of modern Science, EVERYONE can create their own crypto network and just mine wealth all day long!
    2
  305. that is such a huge level of deflation that it isn't even worth discussing. we're talking about 1% deflation per YEAR. what you're discussing it on the verge of 15000%.
    2
  306. here come the bitcoin shills...
    2
  307. control.
    2
  308.  @superagario9249  a poor population is an easily controlled population. the Fed is simply a tool of the people really in charge.
    2
  309.  Truth  if we wouldn't have had deflation then why was QE necessary?
    2
  310.  Truth  if we didn't have QE, we would have had deflation. therefore, QE created inflation.
    2
  311.  Truth  Okay, to phrase this in a different way, would we have likely experienced deflation without QE?
    2
  312.  Truth  "Quantitative easing is when a central bank purchases bank assets to increase liquidity in the financial market. The Fed buys MBS and Treasuries from banks by issuing credit. **In effect QE increases money supply.**" Which means it increases inflation, indirectly. That money is still in existence, just because it hasn't come into circulation yet doesn't mean it won't...until the Fed's balance sheet goes back to pre-QE levels, you can't claim that QE didn't cause inflation. quote from https://www.thebalance.com/what-is-quantitative-easing-definition-and-explanation-3305881
    2
  313. Peter Schiff is about to be right, ladies and gentlemen, the trolls are out in full force these days.
    2
  314.  @mdmill9308 what can I say about you? you've been visiting Peter Schiff's videos for YEARS and are a constant critic of him, I guess you have no life?
    2
  315.  @Matt-yz3iq  why does less regulation automatically equal removing laws for pollution to you people?
    2
  316. well, usually when he's on with Liz Claman...
    2
  317.  @endcronycapitalism1616  bitcoin is a tech that can be replicated infinitely. it WILL fall to zero.
    2
  318. you work for free?
    2
  319.  @kmj1976  capitalism can exist at the individual level, hence "capitalist". when you exercise voluntary choice in regards to *selling your labor*, you are engaging in capitalism.
    2
  320. it's not earnings until you sell.
    2
  321. the problem with inflation is that wealth is funneled to the top. those benefits you mention of inflation are even greater for the wealthy who can afford larger loans and debt, AND their assets go up in price relative to the average person who has a greater percentage of their wealth in savings compared to the "1%". if you compound this effect over, say, 100 years (since the creation of the Federal Reserve) you end up with the wealth disparity we have today.
    2
  322. so much "created" scarcity...when you look at it as a whole, it's just people looking for a get rich quick scheme and nothing more. you can't create wealth out of thin air, folks.
    2
  323. Satoshi = the Federal Reserve
    2
  324. then why even call it "inflation"? why not just say "rising prices"?
    2
  325.  @christophersiefker8268  to trade them for things that maintain purchasing power.
    2
  326.  @martinlutherkingjr.5582  you're halfway there. now, if prices naturally fall and nobody has to work anymore because our country doesn't have to pay off massive debt created from nothing, then is that really a bad thing? Fractional Reserve banking is antithesis to a free society.
    2
  327.  @bluenami7520  or more simply, places with higher wealth can afford to squander it away with higher taxes.
    2
  328.  @bluenami7520  We're not talking about wealthy people, we're talking about wealthy locations/economies. You can't go into rural Africa and enact an economy and expect the local people to pay 30% income taxes and pay $15/hr minimum wage. The local economy doesn't have enough circulating wealth to afford the cost of running a modern society. A society can only tax what it's economy can handle.
    2
  329.  @bluenami7520  unless millionaires move en masse to a particular location (in this example), the growing of wealth is a gradual process. the processing of natural resources using capital goods and technology is a great way to create wealth.
    2
  330. Maybe just maybe the price is being suppressed?
    2
  331. you must first understand that inflation means an increase in money supply, it doesn't mean "rising prices". until you understand that, nothing else will make sense.
    2
  332.  @magick93  Yes, the two are related, but they don't mean the same thing, much like thunder and lightning. When you see lightning, you don't call it thunder do you? You call it thunder when you hear it.
    2
  333.  @gfcardi  Thanks. Once we accept this premise that inflation and money supply are separate, things get interesting when we start exploring the idea more in depth. For example, the natural tendency for prices to fall every year due to productivity gains from technology might be 5%, but if the Fed is pumping so much money into the economy to create "2%" inflation, they have essentially "inflated" the money supply by 7%, and they don't take into consideration the deleterious effects this has on the economy, such as funneling all of that created money to the ultrawealthy, among other things. In other words, our true inflation rate isn't 2%, it's likely 7%. Is it any wonder the wealth disparity has exponentially gone up since we've undertaken this "inflation at all costs" mindset?
    2
  334. if it doesn't have to be physically useful then it's true supply is limitless. the rest is just speculation.
    2
  335. LOL, did they catch you off guard at the beginning, Pete? taps nose
    2
  336. what you're saying is, you're addicted to Peter
    2
  337. Question: would all of you Bitcoin pumpers still hold it if you knew it was going to be worth 1 cent in value? Or are you only holding it because you think it will be worth more in the future?
    2
  338.  @peterschiff  Don't give up, Peter. You're right, but just early (like always). Bitcoin tech can be replicated infinitely, so much for "inherent" deflation.
    2
  339. you can create more crypto. you can't create more gold. that's the ultimate reason why crypto is a losing proposition.
    2
  340. "b-b-b-but 100 million early votes!"
    1
  341.  @mdmill9308  90%+ of gold contracts are not backed by actual physical gold. you realize this, right? so how can you say the price of gold is "overvalued"? if anything, gold is undervalued because the "price" of gold is not reflective of the actual supply of gold.
    1
  342.  @mdmill9308  that didn't answer my question
    1
  343.  @mdmill9308  gold is a long-term store of wealth, it is never supposed to be an investment. holding it to the same criteria as an investment is intellectually dishonest.
    1
  344. any technology can be replicated.
    1
  345. craziness.
    1
  346.  @hvaball150  beer literally isn't the only thing that people spend money on.
    1
  347. Asset inflation, anyone?
    1
  348. Peter, long time listener. You lost me when you didn't cover the election irregularities this cycle, especially after saying Biden will win. Makes one go "hmmm".
    1
  349. Peter seriously has to get these spammers under control in the comments.
    1
  350. crypto = virtual hot potato.
    1
  351. @Yo Momma giant fortunes = inflation = caused by the government policy = would be prevented by sound money advocated by Schiff
    1
  352. Only in a free world would we ever hear that definition in the mainstream.
    1
  353. peter is against most cryptos, not just bitcoin.
    1
  354. blame the mass hysteria of crypto get rich quick schemes.
    1
  355.  @onloveandsublimation4912  Of course the income tax is constitutional....but whether we have to pay it depends on the definition of income and how that has been changed--much like how the definition of inflation was changed for political reasons.
    1
  356.  @mrlukemichel6858  Trump is uniting all people and races, don't believe everything you're told...remember?
    1
  357.  @mrlukemichel6858  His words? You know the old saying, actions speak louder than words. Look at his actions, his actions are what is bringing people together.
    1
  358. Well, it seems his inner conscious is manifesting as him looking like a zombie.
    1
  359.  @powellmountainmike8853  Maybe it's both!
    1
  360. don't listen to Mark Levin, then.
    1
  361. That's what you took from this podcast??
    1
  362. it's okay, you were just being early like usual!
    1
  363. it's a giant game of hot potato. for every person who gets ahead, someone else loses.
    1
  364. then why even have a dictionary? it's not like the definition was different every encyclopedia, ALL the old ones give that definition.
    1
  365. What's he wrong on about race?
    1
  366. if you charge a premium for selling, you can make money whether gold is falling or rising.
    1
  367. bitcoin is riding a huge wave of speculation and name recognition. everyone wants to sell to a greater fool in the future. don't get left holding the bag.
    1
  368. what if he's just early?
    1
  369. a sucker is born every minute
    1
  370.  @ephancock  i'm not denying it's a speculative investment. the problem I have is people claiming it's a currency. bitcoin and other cryptos are speculative assets and nothing more.
    1
  371. all that QE money has to go somewhere, though
    1
  372. and we're getting taxed on nominal increases. criminal.
    1
  373. he literally looks like a normal Asian.
    1
  374. then why does the president select the chairman?
    1
  375.  @danielcanna438  Trust me, Peter knows what's up, it's just a hell of a lot easier lumping the Fed with the government than continually making a distinction every time he wants to make a point, not to mention that the Fed and the government work hand-in-hand.
    1
  376. Peter is obviously aware of that, but you have to admit socialism is preventing us from recovering faster than we would under capitalism. Capitalism would have let the banks fail in 08....
    1
  377.  @DegreesOfThree  and the world will be better off for having more gold. *our standard of living does not decrease by having more gold in our lives.* however, the addition of more cryptos in existence does not improve our standard of living.
    1
  378. SPECULATION. Look at the price of Gamestop stock vs the actual value of it if everyone decided to sell at the same time. The same thing WILL happen to bitcoin once everyone loses this to-the-moon delusion.
    1
  379. electricity can be shut off by the govt for suspected "terrorist" activity thereby preventing you from trading crypto. you can't shut off barter (gold/silver trading).
    1
  380.  @peterschiff  but the physical isn't being traded, per se. it's like virtual gold being traded. can't you at least admit that?
    1
  381.  @bluenami7520  but price "inflation" has many causes.
    1
  382.  @tjhughes7740  then why don't they just call say "rising prices"?
    1
  383.  @BarkusMuhl  correct. expanding money supply can only make the prices higher than they would have been, whereas many things cause rising prices.
    1
  384.  @whoyatoya  yes, but that tech can be replicated infinitely, so much for inherent "deflation".
    1
  385. Wear this like a fucking badge of honor, Peter!
    1
  386.  @wanderingdoc5075  If something can be created out of nothing and it can essentially be replicated forever, it inherently does not have any value. This applies to FRNs AND digital crypto.
    1
  387. Anytime.
    1
  388. it was ALWAYS about a get rich quick scheme. nobody values owning bitcoin just for the sake of owning it. they only value what they can buy with an expected return on their "investment".
    1
  389.  @tamere6568  nobody is asking you to stay here.
    1
  390.  @garym6206  I meant the daily podcasts..
    1
  391. Record inflation...?
    1
  392.  @Bittrio  bitcoin isn't a monopoly. that blockchain tech can be replicated to infinity by other forms of crypto. bitcoin is still riding the marketing boost and name recognition. built-in deflation means nothing if people will just use alternatives. bitcoin is unlike gold because there are NO alternatives to gold, gold has unique properties unto itself, just like every other precious metal, which makes them precious.
    1
  393.  @Bittrio  bitcoin cannot both be a currency and an investment. pick one.
    1
  394. what's stopping someone from creating another blockchain currency system like Ethereum?
    1
  395.  @shadoninja  the only value it has is speculation, and even though deflation is "built-in" for most crypto systems, there are potentially infinite cryptocurrencies that can be created using blockchain technology, which means any particular crypto is worthless because it can be created from nothing. contrast this with precious metals, that have a finite amount in the earth's crust, and the more we have of them, the more our standard of living improves. our standard of living does not improve from having more of a particular cryptocurrency.
    1
  396.  @shadoninja  here's a question: would our standard of living improve if we suddenly had 2x as many bitcoins circulating?
    1
  397.  @shadoninja  if the supply of etheruem doubled tomorrow, would we be better off?
    1
  398.  @shadoninja  it will be available to mine.
    1
  399.  @DegreesOfThree  physical keeps people honest. digital is just asking for corruption/enslavement.
    1
  400. Brilliant
    1
  401. get rich quick schemes. this is the result of loose monetary policy.
    1
  402.  @peterschiff  Bloomberg at least has proven he isn't an idiot, unlike the rest of the Dems, but that isn't saying much.
    1
  403. great. but that doesn't mean any particular crypto is worth anything because they were created from nothing, anyway.
    1
  404.  @steelybojangles  blockchain tech is what's valuable, bitcoin is just the most popular version. whatever happened to myspace?
    1
  405.  @raphaelprotti5536  congrats, for every person that gets ahead in crypto someone else loses. the net result is zero wealth creation.
    1
  406.  @AlanDeAnda1  it also follows that there is no problem with deflation, too. so if you had a choice of paying higher prices or lower prices, wouldn't you choose lower prices?
    1
  407. You realize that some people can be good at more than one thing, right?
    1
  408. there is only one ideology here, and it isnt peter's.
    1
  409. companies just decided to be greedy?
    1
  410.  @ChrisHamberg-ok2cz  please explain why the world will end just because prices drop by a few CENTS per YEAR.
    1
  411.  @lc285  because nothing has changed with the Fed and our monetary policy.
    1
  412.  @martinlutherkingjr.5582  bitcoin is fine, but it ain't the only crypto in existence. if it was, then i'd be all for it, but the tech can be replicated indefinitely and that defeats the inherent deflation trait.
    1
  413. i dont understand how most people dont get this
    1
  414.  @CeNTuRiOn33100  peter believes the income tax is immoral. it isnt the only tax.
    1
  415. over time, gold maintains value.
    1
  416. which is why he's plastered all over the media like, i don't know, Jim Cramer? please...
    1
  417. @user-jl8yy5ir7s make no mistake, only after all of the central banks buy up enough PMs will they allow the price to reset.
    1
  418. we literally used to carry our gold and silver around, and any paper notes were backed by them. there is no reason why we can't go back to that. but we wont because it would allow normal people to save their money instead of lose it via inflation to the government.
    1
  419.  @lilirobin7136  the USD is the world's reserve currency, the entire world would be on a gold standard. in fact, the reason the USD is the world's reserve currency is because it used to be as "good as gold".
    1
  420.  @lilirobin7136  I do not support the US central bank policies. Whatever will become the world's reserve currency in the future WILL be based on a precious metals backed currency..
    1
  421. sent from my iphone
    1
  422. good for you. but BTC is going to zero.
    1
  423. not to mention that for every gain in bitcoin is someone else's loss.
    1
  424. America has just as many natural resources as any other nation--but the problem is we have regulated ourselves out of the competition.
    1
  425. all of those cryptos try so hard to not be fiat, but at the end of the day they were all created by man, just like fiat, and they can be replicated into infinity. the only truly finite thing we have on earth as far as money goes is precious metals.
    1
  426. money backed by gold
    1
  427.  @bigfletch8  yes, and nothing says it can't be restarted.
    1
  428.  @bigfletch8  10x more currency in circulation = 10x higher price...sounds like gold is undervalued, to me.
    1
  429.  @bigfletch8  it's pretty simple dude: if there isn't enough gold to account for the current money in circulation, then the value of gold goes up. you could theoretically have a nationwide gold standard on 1 gram of gold.
    1
  430.  @bigfletch8  nobody is saying we still have a gold standard. I'm saying it can be restarted, and there is nothing that says it can't be done.
    1
  431.  @bigfletch8  i don't understand how that relates to your prior points.
    1
  432.  @joshstone313  why not?
    1
  433. uhhh....
    1
  434.  @asumamonsta  gold was replaced by paper because paper allows governments to spend beyond their means. that doesn't invalidate that gold is the ultimate form of money. stop looking at things in terms of dollars and start looking at them in terms of gold.
    1
  435. ​ @asumamonsta  claiming bitcoin is valuable because of blockchain tech is akin to claiming a website is valuable because it uses the internet. the internet is priceless, but websites come and go. invest wisely is all i can say.
    1
  436.  @asumamonsta  no, i was just using your logic against you, because the two aren't even comparable, but for the sake of analogy, i used the internet because it's really the only thing i can think of that fits.
    1
  437.  @asumamonsta  answer my original question: would the addition of more bitcoins (or cryptos for that matter) make our lives better off?
    1
  438. ​ @asumamonsta ​ so, you admit bitcoin has its shortcomings?
    1
  439. @Yo Momma do you work for free?
    1
  440.  @sang3Eta  but people say bitcoin has gone up "X%" compared to gold's "Y%", therefore bitcoin is better. okay, if price appreciation is the end-all-be-all, then dogecoin is superior to bitcoin because it has (recently) appreciated faster in price than bitcoin.
    1
  441.  @sang3Eta  the point is that crypto valuation is based solely on speculation and nothing more. they do not improve our standard of living like precious metals do.
    1
  442.  @sang3Eta  how is it honest money if the technology behind it can be replicated?
    1
  443.  @azadindustries.official  as a trader, you should know that gold is insurance, not an investment.
    1
  444. sounds just like your Daily Show segment--did anything ever come of that, Peter?
    1
  445. and most other economists are wrong 100% of the time.
    1
  446.  @telfordurl  how do you explain Schiff's prediction that QE would restart and that rates would go back to zero?
    1
  447. Peter, please do a podcast on your father's Kingdom of Moltz book!
    1
  448.  @whisper1736  >However in the early 1900's life expectancy was around 45 years old. was that because of a lack of FDA, or was that simply because life was more dangerous back then? you can't regulate your way to prosperity, wealth has to be created first. go to Africa and start an FDA with the same level of regulations as the US, hardly anything would be deemed "safe" for sale to the public. so how does Africa develop to the same level as the US? by allowing individual choice in place of regulation instead of regulating themselves out of prosperity.
    1
  449.  @whisper1736  i'm just saying the regulations follow wealth creation, you don't put regulations first and expect wealth to be created in society. >The reason we have prosperity is that we don't struggle for survival on simple things that someone figure out for us, safe cars, roads,electrical appliances, chemicals etc. It is not perfect and never will be. how is wealth created?
    1
  450. assuming there will be a greater fool in the future to whom to sell your bitcoin is going to bite a LOT of people in the ass.
    1
  451. hint: that was exporting inflation
    1
  452.  @cactiman  the only reason no other crypto competes with it is because bitcoin is popular at the moment. what happens when people realize the only thing backing cryptos is faith? if they wanted that they could just use USD or any other fiat, but the ironic thing is, people are forced to use those, but nobody is forced to use bitcoin. look for the masses to seek something that is backed by more than hopes and dreams. something tangible like precious metals, or a PM backed currency.
    1
  453.  @vince3192  just because bitcoin is "scarce" doesn't mean it has value; there are plenty of cryptos that can be created out of nothing that can dilute the utility of bitcoin. the same can't be said of precious metals which have a limited supply in the earth's crust AND have specific properties unto themselves.
    1
  454.  @justinbailey1756  gold lasts forever and has a limited supply in the earth's crust?
    1
  455. to point out how ridiculous the Fed is.
    1
  456.  @englishpayerofgermantaxes8186  can't argue that.
    1
  457.  @davevilla1061  the market can remain irrational longer than you can remain solvent.
    1
  458.  @champ200900000  but a limitless amount of cryptos can be created from nothing (fiat). that essentially reduces their scarcity--as a whole)--to zero, and when something is infinite in quantity, the value falls to zero, also. contrast this with precious metals which have a finite amount in the earth's crust.
    1
  459.  @champ200900000  you're comparing technology to currency. the two are nothing alike. it's a false equivalence.
    1
  460.  @champ200900000  technology can't be currency, that's all i'm saying. technology can be replicated. precious metals can't. end of story.
    1
  461.  @champ200900000  you're the one who brought up Bitcoin as a comparison to the internet.
    1
  462.  @davebellamy4867  yeah, i'm sure she earend that
    1
  463. blink much, Peter?
    1
  464. maybe he just understands it so well he doesn't believe in it?
    1
  465.  @Playboysmurf1  peter never says go all in on gold
    1
  466.  @hiram.j  but peter's bank reserves would be backed by gold.
    1
  467.  @hiram.j  banks are enabled by the government to create money, it all stems from government, which is peters point.
    1
  468. when inflation is in reality 20% and the Fed raises rates by a percent, that's still negative interest rate policy, but they raised them to give the illusion of trying to "curb inflation".
    1
  469. so is the DOW
    1
  470. @Yo Momma the only thing that was suggested was to reduce the size of government where possible, not to eliminate it entirely.
    1
  471. @Yo Momma a barber who cuts flesh instead of hair would quickly lose his place in the free market, no license needed.
    1
  472. which makes him a useful idiot--smart enough to put himself into a position of power, but ultimately dumb enough to make the problems he complains about worse.
    1
  473. 1960s, literally the outlier in America economics.
    1
  474.  @coryg121  that's a funny way of saying "makes us live within our means"
    1
  475. all you can do is do what you can with what you have. you seem to be making the correct decisions, just don't invest more than you can afford to lose.
    1
  476. ​ @edjackson3603  right. if you don't hold it, you don't own it.
    1
  477. well it's currently about 1/2 of its all time high, yet with it being more popular than ever....we'll see if the fanaticism carries it higher.
    1
  478.  @LibertarianRF  of course bitcoin can be hacked, it was created by man. but, it's impossible to hack gold. bitcoin may be the most "secure" network, but there is nothing inherently unique about the blockchain tech besides it being popular *at the moment*. but just because it is popular now doesn't mean it will always be.
    1
  479. 58,000,000 were prevented from working, not because they are unable, but because the government said they couldn't work. the government made the decision, it can pay for it.
    1
  480.  @mustafabaris9681  at the very least, you can say he underestimates our ability to kick the can down the road, yes. i mean, QE is bigger than ever. but, until the Federal Reserve and US government change their course, is it wrong for someone to say "look where we're heading"?
    1
  481.  @mustafabaris9681  higher, until they're not. it's not like they're built on fundamentals.
    1
  482. looks like blepharoplasty
    1
  483. right??
    1
  484. Inflation = money supply Rising prices = infinite reasons including expanding money supply
    1
  485. some say his voice is nasally and annoying, and that he talks way too fast.
    1
  486.  @JāmiSun  that's like saying there's only one type of fiat currency, it's ALL created from nothing.
    1
  487.  @alexmendoza9270  gold is honest money and the ultimate form of money.
    1
  488. i know right? if they were the same thing, they why not just call everything CPI?
    1
  489. and that movement was infiltrated by neocons and we see where that ended up, unfortunately.
    1
  490.  @criticaljim1  Thank you for the positive response.
    1
  491.  @sommi888  sounds like something a ponzi scheme participant would say. no thanks, i'll take my low-risk gold any day.
    1
  492.  @sommi888  like any other ponzi scheme, it's all fun until you're the one holding the bag.
    1
  493.  @sommi888  if you think comparing cryptos to websites is helping you case, then I don't know what to say. good luck with the speculation, friend.
    1
  494. Gotta make a living somehow, right? Why not do something you're passionate about?
    1
  495. bitcoin was literally at this price 1 year ago, then dropped by 60-70%, and it's still down by about half from its all time high.
    1
  496.  @kourtsmyth3266  depends on how you look at it...it's more popular than ever but isn't at it's all time high, so...
    1
  497. why not a gold-backed crypto?
    1
  498. maybe he just really likes these headphones?
    1
  499. yet the Income Tax is a thing.
    1
  500. so you work for free?
    1
  501. why would you change your viewpoint if we continue on the same path?
    1
  502. it's no the size of the pin that matters, it's the size of the bubble.
    1
  503. if the average person will never understand it, then it will never be mainstream. people don't wanna hold wealth in something they can't even understand how it works.
    1
  504. so....increase the size of government? your logic doesn't follow.
    1
  505. crypto is unlimited, too. the tech can be replicated. gold and precious metals cannot be replicated, they are finite.
    1
  506. sent from my iphone
    1
  507. at the end of the day, owning BTC by itself does NOT improve standard of living. whereas owning precious metals DOES.
    1
  508. gold must be pretty valuable in order for humans to go into space to retrieve it.
    1
  509.  @chalkline1505  we have the ability to inflate. money printing isnt wealth creation.
    1
  510. Pete keeps all his bitches in line, lol
    1
  511. a lot of it is being exported, apparently.
    1
  512. smh...crypto is a giant game of hot potato, for every winner there is a loser.
    1
  513. Hysteria, ladies and gentlemen.
    1
  514.  @cactiman  the market can stay irrational longer than you can stay solvent--except when it comes to bitcoin, then any change in the price automatically justifies the existence of said speculative asset, bubbles cease to exist.
    1
  515. yep--every "gain" in crypto comes at someone else's loss.
    1
  516.  @tyclute2239  i believe the paramedics couldnt arrive until the mob was cleared
    1
  517.  @arquipaje8441  Oh I know, but Peter's main argument is that inflation simply refers to expanding the money supply, and this definition has been changed over many years to "rising prices" to shift blame from the central bank.
    1
  518. because precious metals improve our standard of living. whereas BTC is sold to buy things that improve our standard of living.
    1
  519. all the more reason to trust government?
    1
  520. they're not native. Europeans were in America 20,000 years ago.
    1
  521. that was more of a post-WWII prosperity anomaly that was mainly limited to the US.
    1
  522. same
    1
  523.  @jaydmatacarita  too many people are caught up in the mania. how many people own bitcoin for the sake of just owning it as opposed to those who own it for the purpose of selling it at a higher price in the future?
    1
  524.  @jaydmatacarita  you accept it because you believe you can sell it at a higher price in the future. what happens when the hivemind starts believing bitcoin is going to sell at a lower price in the future? how many people are suddenly going to stop "using" (aka speculating) it?
    1
  525. Biden winning.
    1
  526.  @bloodline1488  Well did I change your mind?
    1
  527.  @bloodline1488  sure, bitcoin is backed by speculation whereas the USD is not. but speculation does not make a currency. and the tech behind bitcoin is not unique to it. yes, the tech is valuable, but the tech aint scarce.
    1
  528.  @bloodline1488  The US government also recognizes the USD as money, too, but that's not saying much. The tech behind bitcoin isn't limited to bitcoin. The tech itself can be recreated endlessly.
    1
  529.  saminami  well for one humanity inherently values the properties of gold as it has many uses that improve our quality of life more than any other metal. in fact, if an asteroid of gold hit the earth we'd be better off because that would be less labor and resources we'd have to expend to extract that same amount of gold from the ground. tell me how much better off we'd be if another bitcoin system was created? exactly.
    1
  530. that tells you all you need to know about gold being legit.
    1
  531.  @KJ-bc3de  please explain your position
    1
  532. I've heard him refer to that years ago.
    1
  533. maybe just maybe peter has a point about bitcoin? did you ever think that maybe he could be right about that, too?
    1
  534. they want the masses to believe in CBDC--i mean BTC--meanwhile they buy up actual physical assets that improve standard of living.
    1
  535. we need to legalize competing currencies, let the people decide what they want to transact in.
    1
  536. Peter, I can't understand why you believe Biden will win. Can you PLEASE explain your reasoning? Surely it isn't the polls, because we all saw how useless those were in 2016.
    1
  537. sounds like an improvement in standard of living, what's not to like? that still won't stop my demand for gold.
    1
  538.  @dsscam  your crypto gains can only come about through others' losses. it's a zero sum game. don't you understand that?
    1
  539.  @sv-uw1lc  no, unexpected deflation is whats bad in this system (for loan/debt purposes). but a lower cost of living is always preferable to a rising cost of living. think about it: how much worse would the Great Depression have been if prices went up when people couldnt even afford basic staples of living?
    1
  540.  @EdwintheMagicEngineer  oh we're on the same side, my reply was to the OP. i'm well aware of all the shortcomings of bitcoin, plus the fact that there are virtually endless competitors that can enter the market and dilute the value/utility of any crypto, which invalidates the claims of "finite supply".
    1
  541.  @EdwintheMagicEngineer  i was always skeptical of bitcoin, even after hearing about it in 2012....yeah. could've made money but i only "invest" in accordance with my principles, so in other words, i'm not rich yet. lol
    1
  542.  @razorbackficus9802  no, i'm saying if the govt suspects you of "terrorist activity" aka using bitcoin, then your power very well might be shut off.
    1
  543. yes because ben is supposedly intelligent.
    1
  544.  @ramaslama  shouldn't you be hocking your pretend money scheme to some young kids?
    1
  545. you can't fake gold, it takes real wealth and resources to produce. cryptos can be created out of nothing--there's no inherent faith in them, BUT there is a lot of speculation, which is the only thing keeping them relevant.
    1
  546. If price appreciation is literally your only metric for greatness, then at least admit DOGEcoin is superior to Bitcoin, after all it had a greater percentage gain than Bitcoin in the past year.
    1
  547. replace inflation with CPI and there is literally no difference. why even call it inflation???
    1
  548.  @chriscash782  it's something tangible.
    1
  549.  @chriscash782  how many more hypotheticals are we gonna bring up?
    1
  550. #STOPPUMPINGYOURPYRAMIDSCHEME.
    1
  551.  @sebucwerd  ok great, so blockchain tech has value....but bitcoin doesn't...so what exactly makes bitcoin valuable other than speculation and hysteria?
    1
  552. or simply did a 180 and did the opposite of Keynesianism economics.
    1
  553. not even will cause inflation/rising prices, maybe prevent deflation.
    1
  554. with infinite competition thereby diluting prices.
    1
  555. it's no coincidence that we didn't have "world wars" until after the Fed was created.
    1
  556.  @peterschiff  Dan and you together sounds like a blast!
    1
  557. Peter is Jewish.
    1
  558.  @jpmtaraujo  people value the hope of selling bitcoin at a greater price in the future, they don't inherently value bitcoin. that makes it purely speculative and nothing more. if you want to play the crypto lottery go ahead, but don't say I didn't warn ya when you're left holding the bag.
    1
  559.  @jpmtaraujo  gold isn't an investment, it's insurance against dollar devaluation. and since when is a tech that can be replicated to infinity considered "disruptive"?
    1
  560. no, the incompetence of the dollar does not justify the adoption of other fiat like crypto. they are all a distraction away from sound money.
    1
  561. who have no idea how value is created
    1
  562.  @DegreesOfThree  bitcoin doesn't have a monopoly on blockchain tech, it is merely the most popular crypto at the moment
    1
  563.  @DegreesOfThree  how can you patent something that is open source?
    1
  564.  @DegreesOfThree  so who has the patent for blockchain tech?
    1
  565. it's not that he was innocent, it's that he shouldn't have been found guilty (beyond a reasonable doubt).
    1
  566. if you claim you make income, you are required to pay it.
    1
  567.  @thanasispanification  people also choose to participate in a ponzi scheme, that doesn't make the ponzi scheme legitimate.
    1
  568.  @thanasispanification  just because blockchain is valuable doesn't mean any particular cryptocurrency is valuable. a crypto is only as valuable as it's speculative ability, nothing more.
    1
  569. he obviously had plastic surgery.
    1
  570. @xxyyzz he appears to have had plastic surgery to his eyes. it happened right when he stopped doing video podcasts.
    1
  571. if the Fed wants inflation, all they have to do is properly measure the true cost of living.
    1
  572.  @digi2twink815  right, so what you're saying is, the only thing giving any particular crypto value is pure speculation, nothing more. and for that, we're in complete agreement.
    1
  573.  @digi2twink815  but why perform useless work "mining" the coins? it's manufactured scarcity. true scarcity would be precious metals that have a limited supply in the earth's crust which take real resources and labor to extract.
    1
  574.  @digi2twink815  well that's a wall of text. my point is that humanity's standard of living is improved with the addition of more precious metals. our standard of living is not improved with more bitcoin or any other crypto in particular. why? because they are merely tokens for wealth, they don't increase wealth.
    1
  575.  @digi2twink815  for every winner in crypto, there is a loser. it doesn't improve standard of living.
    1
  576.  @digi2twink815  crypto doesn't improve our standard of living like the internet. it's just a huge speculation casino. i admit there is probably some value in blockchain ledger technology, but as it stands now, the valuations are complete and utter *hysteria*.
    1
  577.  @digi2twink815  stocks are about investing in a company that you believe in. the funds from stock sales fuel the company that is then able to further increase their productivity. please tell me how buying into crypto that is doing a bunch of useless number crunching improves our standard of living. why bother with the number crunching? why not just release all of the bitcoins from the start if they're so valuable to humanity.
    1
  578. listen to more of his podcasts, i thought this was a lackluster one.
    1
  579. but it's not semantics, though.
    1
  580.  @cactiman  *pyramid, sorry. but alas, the whole scheme is convincing more people to buy into it, to increase the value so you can sell at a higher price than you bought in. THAT IS a pyramid scheme.
    1
  581.  @cactiman  it doesn't matter how many bitcoins there are, the tech is what is (supposedly) valuable, and the tech can be replicated infinitely with other cryptos. just because something is "scarce" doesn't make it valuable.
    1
  582.  @cactiman  i didn't say a bitcoin clone as in "bitcoin 2.0", i said other cryptos can recreate the tech behind bitcoin (blockchain) and since the tech can be replicated, then there is nothing inherently valuable about any particular crypto using said tech, the value is subject to speculation only. the only reason the price isn't going down further is because people are still hysterical about the potential earnings they could have in the future by buying into it now, instead of being rational and realizing that the price will go down to zero. the only thing you all hope for is the price to keep going up and sell to a greater fool in the future.
    1
  583.  @cactiman  i'm just saying there is nothing inherently valuable about it, it's just the most popular at the moment. beware.
    1
  584.  @cactiman  bitcoin isn't a monopoly, there is plenty of competition to dilute any particular utility that bitcoin has, essentially going down to zero. contrast this with precious metals who have a finite supply and each precious metal has unique properties unto itself. silver is more conductive than gold, gold is more malleable, etc. finding more silver does not reduce the value of gold's malleability, for example. this is in direct contrast to cryptocurrencies that are created by man and are essentially endless in their amount.
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  585. to be honest, Peter was not given a fair chance to reply to most of that guy's nonsense.
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  586.  @AGNIVEER6152  he was being civil at first, but he was still never given a chance to reply to most of the inane bullshit that Marxist said.
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  587. i find them funny, maybe he's doing it tongue-in-cheek
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  588. Although you're right, it is still not illegal to be an asshole---yet.
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  589.  @TheAdamAdy  my dreams feel real sometimes, too
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  590.  Truth  imagine how much prices would have went down if we didn't have QE. the difference in prices we got vs prices we would have gotten otherwise IS THE INFLATION.
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  591.  Truth  So, why was QE implemented if it didn't have a direct impact on inflation like the Fed is mandated to do?
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  592.  @mdmill9308  Yes, Peter seems to underestimate the ability for the US to kick the can down the road. So what? The economic fundamentals he speaks are not misguided. Who could have predicted the US would have "bailed out" banks instead of letting them fail like the market demanded? Had that necessary restructuring taken place things wouldn't have been delayed another 10 years. Just because nobody could have seen that coming doesn't mean Peter is *wrong*, it just means that we are just that much more FUCKED in the future. You get it?
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  593. the US has prospered because it prints the world's reserve currency--a currency that used to be "good as gold" but that comparison is slowly eroding away.
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  594. you're right: wealth can be created out of nothing. man, if only we had realized that sooner in history.
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  595. Here's the best response to them: "Would the addition of more bitcoin increase our standard of living? Of course not. Contrast this with gold, where the more of it we have, the more our standard of living improves."
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  596. why does he look like a zombie
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  597. no, one sees the problem and the other sees an opportunity to push his agenda.
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  598.  @kmj1976  so you dont work for free, then? everyone who works for a voluntarily agreed upon wage is a capitalist. how they "believe" the economy should work is beside the point.
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  599.  @peterschiff  drink plenty of water.
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  600. no, how can we be obligated to pay taxes with money that doesn't even exist and can be printed out of thin air?
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  601. Hell of a rack.
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  602. and look at your cost of living
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  603. get a life
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  604.  @mrlong6267  crypto is a giant game of hot potato. for every winner there is a loser. think about it! do you wanna be the one holding the bag after everyone else cashes out?
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  605. sounds like inflation to me.
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  606. how is he a joke? actions speak louder than words.
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  607. it's not so much what she is, it's more about what she isn't.
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  608. yang sees the world with a libertarian lens, but he has authoritarian solutions. a perplexing combination.
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  609. yeah, i can't say i blame him. he literally makes a living selling precious metals.
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  610. something that was created from nothing is the future? only a dystopian one. here's a hint, if it was created from nothing, it's inherent value is ZERO and any price value is complete speculation. contrast this with precious metals that are limited in their supply.
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  611.  @jpmtaraujo  don't compare it to precious metals, there is a limited supply of precious metals in the earth's crust. cryptos can be replicated forever--created out of nothing.
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  612.  @AltumNovo  the labor theory of value was debunked hundreds of years ago. just because work is being done does not make something valuable. gold (elements) can only be created in a supernova.
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  613.  @jpmtaraujo  listen, bitcoin isn't a monopoly. bitcoin isn't comparable to the internet, it's more comparable to a website. bitcoin is only as valuable as it's speculation....what happens as people slowly stop speculating on it? the value goes down to zero. speculation can't be the only reason something has value. if bitcoin was the only crypto to exist, I would agree with you, but the fact remains that competition exists and competition will drive the value to zero.
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  614. define "fair share". bonus points: include the word "risk" in your definition.
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  615.  @wolflarson71  woah woah woah. bitcoin can essentially be replicated by other similarly designed systems. gold is unique properties that we cannot replicate.
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  616. and think of all the money he lost by not buying beanie babies in 1997.
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  617.  @JaneEyre-q1z  that's what she said.
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  618. cant say the same for 99% of public figures.
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  619.  @granvillestout2681  anytime you are able to purchase more insurance for less money is a good time.
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  620.  @granvillestout2681  if the central bank were making the correct choices, then I would agree with you. but they have revealed the end game, so you're always going to lose purchasing power as long as you hold fiat.
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