Peter Schiff: Beanie Babies, Bitcoins, and What’s next? - Palisade Radio (09/19/2017)
Peter discusses the debt ceiling saying, “We blew through 20 trillion in national debt. The debt is not good for the dollar especially with the Treasury Secretary threatening Korea and China. China is our biggest creditor, and many countries are questioning the dollar arrangement.” The dollar has been weak this year which is a significant factor in why gold is rising. There isn’t a lot of conviction at the moment. People were thinking things are going to get better, but they are wrong. We will need $1400 to get things into a new gear. Mr. Schiff thinks the inflation rates will begin to climb upwards of 3 or 4 percent.
When inflation was at two percent, they were concerned. They have created a problem, and eventually, they will have to raise rates. Gold stocks are moving just not as rapidly as one would expect. They are performing considerably better than the general market. When gold breaks out they will need to recover lost ground so there will be spectacular moves. Peter feels cryptocurrencies aren’t any better than government-backed currencies. He feels Bitcoin itself has no real value. It’s only based on faith as opposed to commodity-based currency systems. Bitcoin doesn’t have the characteristics of a commodity. It simply has the “faith” that others will accept it in the future just like the dollar. The dollar, unlike Bitcoin, has been around for a long time and everything is denominated and understood in dollars. He feels people should be buying gold as a safe hedge.
Most Recent Posts
- My Thoughts on Gold Trends Now and Bitcoin Futures - Mike Swanson (12/11/2017)
- Bitcoin futures are here, + end of year move in the stock market - Mike "Tiny" Saul (12/11/2017)
- Greece Emerges from Economic Crisis with Increased Inequality - The Real News (12/08/2017)
- Interactive Brokers Sees Total Chaos with Bitcoin Futures Coming - CNBC (12/08/2017)
- Trump Wants a Secret Spy Network Around the World to Fight the ‘Deep State’: Report - Jake Anderson (12/08/2017)
- New Marc Faber Interview - Revenge Economist (12/08/2017)
- The JFK Files : The Murder of a President - The Fifth Estate (12/08/2017)
- Ron Paul's Market Update --- Bitcoin Wins The Twitter Poll Against Gold (12/08/2017)
- What Is Money? (Yes, We're Talking About Bitcoin) - Charles Hugh Smith (12/07/2017)
- Senate Tax Plan Targets Your Trading Account - Bloomberg (12/07/2017)
Grab This Free Report: My Top Options Trading Setup
This free special WSW report is devoted to my top options trading setup. I do this one simple trade at least once a month.
Grab it and get along with it our future stock market action updates. Do not think about buying any other stocks or options before you read this report. To get this report click here