bitcoin is still too geeky. PIN's, pass phrases, passwords, transaction addresses, etc... it's all very confusing. Then there are the wallets which are often incompatible. and quite frankly even the best wallets out there (like BRD) have sucky user interfaces.
Regarding bitcoins ... obviously, such mistakes will always take place. People will lose their password or pin or whatever and the coins will be lost forever. Hence there will be steady deflation as the number of coins will decline over the years. Eventually, no coins will be left.
@Truth I am just quoting the Leaprecaun. I don't grow or smoke weed. Your correct it would make you a federally unable to own a firearm. They want to chip away at the armed population bit by bit if they can't do it all at once.
I was in Sophia Bulgaria in 1984 working on a contract. Stores filled with poor quality junk. Full employment like men sitting in front of scales on streets to weigh people. Streets filled with smoke from two cycle Trabant cars. The office had newspapers taped over broken windows. In a restaurant several of us tried to send back steaks which were so tough we couldn't cut them and were refused. Communism really sucked, but the people we worked with were really friendly.
But those people were much richer than you if you measured their wealth with the proper yardstick, the amount of time they had to pursue what they wanted. Notice who had the luxury to pursue and excel in the Fine Arts back then.
@@MrEvpatoria Not sure about the fine arts, it was 36 years ago. But I do remember they picked us up at the hotel at 8:00 every morning and on the drive to the office seeing quite a few men drinking quarts of beer on restaurant patios. So maybe you are right it wasn't all that bad, depeneding on your perspective.
I must add a word on that.Drug ,little children running,Cartells are capitalists that need to be destroyed when found.Few others you can add to that list. Other than that Capitalism is the only system applicable for society.With very little government.
I know public education was a mistake, we should have left the literacy rate at 10%. People are much more empowered when they are illiterate peasants after all. And how dare the government use our tax dollars to invent computers and the internet... And screw the GPS systems also. The US government should definitely NOT have built the canal system to connect the great lakes to the Atlantic, never mind it is used for commerce to this very day 200 odd years later... And why did King Louis the 14th of France invest in building a canal to connect the Mediterranean Sea to to Atlantic which is also still used 500 years later... Clearly a mistake. Not only that why did the Romans build roads and aqueducts when they coulda just given the rich tax cuts instead! Gah Socialism.. And don't get me started on Athens, who nationalised the silver mine and used it to build the Acropolis and fund the Navy. I mean they shoulda just surrendered to Sparta instead... Much better plan, who needs culture and the arts anyway right, and as for the fleet well shucks, funding that through State Owned Mines is totally Stalinist and they should never have done it! Peter the Great of Russia should definitely NOT have built St Petersburg, I mean who needs grand cities when you could just give the nobility 0% tax rates and let your country rot in the mud for ever!
It causes people to spend their money instead of saving it. Governments want you to do that. Keep the economy going because people keep spending. Plus it makes people take out loans at zero or even negative rates. Again causing more spending. Also means governments collect more taxes. So, to save you would have to buy gold with your money (or something else that keeps its value).
Well it's real for a long time: Proverbs 23:5 "Wilt thou set thine eyes upon that which is not? for riches certainly make themselves wings; they fly away as an eagle toward heaven" source: www.biblegateway.com/passage/?search=Proverbs+23%3A5&version=KJV
Peter schiff 🤙🤙🤙I wish I could shake your hand !! And hug you . You hit the hammer on the nail with this one . And 90 percent of the worlds population does not see this . Wow?? People are really getting dumb in this world when you you’re self have to beg them to listen and wake up . You are truly blessed with wisdom and knowledge and I would give all that I have just to be able to meet you . You are absolutely right and are truly blessed . I could go on and on but I will leave it at this Pennsylvania mike 🤙🤙🙋♂️
xmr7 pt95 when you run out of food and you are starving to death , it is then ! That you will remember what he has said . But until then good luck with your jokes and may the lord try to have mercy on your soul ! But I don’t think so 🙋♂️Pennsylvania mike 🤙
Am reading "The Creature from Jekyll Island". Here's a quote: "A central bank is merely a cartel that has been legalized." That's a conspiracy theorist for you.
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.
We actually do have worker owned businesses in America. Most of them keep the executive positions instead of engaging in collective decision making, so they're pretty much indistinguishable from a normal business.
The only difference between the time of Obama and Trump is that now prices are double on basic necessities. Unemployment according to shadow stats at 21% currently- same as Obama. Administration just not counting the true unemployed
agreed if we are stuck in MMT-hell it'd be at least a bit less distasteful if we all got a share of the pie, since no candidate is advocating burning down the Fed I'm supporting Andrew Yang and UBI.
Ocasio Coltez is Puerto rican? isn't PR a socialist "democracy"? Did you expected anything different? She grew up with that mentality - no surprises here. You should know better, you live in Socialist Puerto Rico.
Hi Peter Schiff, already watched Chernobyl (2019)? About the dangerous side-effects of Communism: "The lesson of Chernobyl isn't that modern nuclear power is dangerous. The lesson is that lying, arrogance, and suppression of criticism are dangerous".
@@thatcryptoguy7313 That appears to be exactly what the (US) series creator tries to warn us for: "how we're struggling with the global war on the truth right now"
@@rudolfnn You have been brainwashed by decades of government propaganda. You have never tried to find out for yourself what communism is all about, how & why it came about. America has been ruled by "the Money Trust" for the most part since mid-1800s, and communism is a lethal threat to the Trust - hence the rabid anti-communist propaganda. Many like you just swallow whatever the government says without independent thinking. THAT is one of the greatest threats to America & yourself.
@Nap Per you are assuming that communism allows for independent thinking. You think capitalism is a form of government. It’s natural form is to be unregulated. Meaning no government intervention. You won’t allow your self to see 100 years of failed communism. You are wrong. You don’t understand anything
The value that Bitcoin stores is the power to transact outside the gov/banks/establishment. As well as the power to prevent them or anyone from taking what you have.
I have two boys. 21 and 19. Both are hard working boys . One is in plumbing and heating the other construction. Under 30 grand a year gross. It’s criminal how much tax these jobs take. They still live at home. But cannot get a home of there own. It’s a full time job as a parent to keep these kids encouraged. Because life sucks. A slave to Government. Trump can suck it. And his big Government.
damok9999 You know I’m a lot old fashion, believe in hard work. No hand outs . You know the typical old farmer dude. But I’m seeing things differently these days. I can really see why people go on disabilities for Government money. I understand more why people choose welfare over a job. It’s just incredible how a teenager gets a part time job after school making under 10 grand a year with full time in the summer. And this Government needs to take taxes out of these people’s pay? If Bernie gets in I understand why. Because people are just sick of big Government. So maybe a fool can turn thing around for them. We are in trouble.
I have a few crypto. I code. I work in security. The idea that the current manifestation of crypto would have some mass appeal is ludicrous. It's only accessible to a small number of population that have the capability to understand it's underpinnings. Slice that further by a smaller portion that have the time and the desire to learn about it. Keep slicing. And you're left with mostly traders, bag holders, and then a final smaller number that actually believes (rightly or wrongly) that it will be used in person to person trade in a wide scale. The silk road was the best thing that ever came out of it and it was gone in a flash.
Hm, you mention you code, but you never in that whole paragraph point out WHY cryptos in their current form won't get adopted. Where are the arguments? Except for them being complex, which was the case for the Internet in the beginning as well
Peter when you doing call in program like wall street unspun....you need to be held accountable for all things been saying last 10 years...also when is Europa going to 0 commissions? You never addressed news of Schwab, td going 0!
1. Non-Statist Capitalism is self, empowering self. 2. Peter Schiff is a Statist and his Capitalism is factually self, empowered by State. This is the current Crony system. 3. Socialism is factually self, empowering State.
Tao Jones Real capitalism is 0 government intervention which does not exist and never has as far as I’m aware, not in the US at least...the government has always hounded at the market.
"We've never had assets like this." Well, he's right on this count. We've never had US Treasuries that were such toxic assets as they are right now, sitting atop over 23 trillion in debt and over 100 trillion in unfunded liabilities.
Losing your ATM's pin is not the valid anology to make when talking about Bitcoin's private keys. Your bank account's 'private key' is your ID. The fact that Bitcoin doesn't care about your identity is a feature not a bug.
Exactly. His arguments are weak. The whole idea with having a cryptocurrency wallet is that you become your own bank! You are escaping the system because banks are not to be trusted
Very good educational episode. Debunking myths, especially those from AOC,, but also those from Trump, is what I like the most in Peter Schiff podcast. Keep doing good job Peter.
The largest portion of this podcast is SPOT ON --- kudos to Peter!!! However ... "...once gold starts to go up it's never going to stop" 25:43 Peter is DELUSIONAL again! Peter refuses to accept my model -- that *CRIME* is the number one determinant of gold (and other) prices - not market forces (as he believes - or at least as he promotes). With nothing to stop them, Peter -certainly not the law - the criminals will set gold price WHEREVER they want, period! Who's going to stop them? You? Try again, Peter.
The problem isn't Capitalism, it's culture. Culturally, I wish this society you had people work their asses off as construction workers or police officers from 18-22 and buy a property and pay it down in the first 4 years so that you own something right off the bat. Then EVERYONE would vote right. Imagine owning a low taxed condo at 22 years old, some kids do this....If I was 18 again, that's the first thing I would have done, I would have ignored everyone and made sure I owned property first and foremost before even thinking of having a girlfriend or going to get a degree. Culturally, though, you're supposed to be after dr*&# and s#* as soon as possible to be 'cool', and then you end up like 30 and in all this debt, p*&s#@ o(* and you vote socialist. Working at a bus garage you wouldn't imagine the number of retirees that wished that they owned something outright with no debt and no mortgage.
Peter, don't feel bad about losing a little bitcoin. Leo Laporte, "The Tech Guy" who answers callers computer tech questions for 6 hours every weekend, has a bitcoin wallet with more than 7 bitcoins. But he forgot the password he used and nobody is able to help him either. Like you, it was contributions from others. And he had the 7 coins even when the price was almost $20k each. I argued, Rothbard style, that losing his bitcoins is good for others though, since it is the same as having an ask price of infinity and so lowers the total supply leading to a higher unit price. I was told flat out by Leo's tech listeners that I was "completely nuts". It's dreadful how few Americans understand even supply and demand.
With total respect----The problem Sir discussing the US economy is that President Trump cannot say some things and you can.----Do you expect any President to say we have a 30%(pick a number) chance of a Great Recession or worse? The other problem is that criticism of President Trump gives comfort to the Democrat party which we all know you hate as much as anyone here.
You’re wrong about the middle class not benefiting from the stock market. Anyone with a retirement plan benefits and most people in the middle class invest to some degree in the stock market. Personally my retirement plan is up 41% in 2019 alone.
Man. Time to make this point again. Cryptocurrency represents individual sovereignty. To criticise bitcoin so vehemently means you should at least understand its features. You may consider a feature a bug, but whatever way you spin it. Egg is on your chin.
What if you forget where you store your gold? It’s lost forever! Are you going to blame it on gold or the owner? Take some personal responsibility Peter!
I bought some precious metals with my bitcoin profits. Bitcoin was one of the best investments that I ever made. Doubled my money in just a few months.
Mine too.. I am solid middle class at 90K a year/single no kids and my taxes went up 8K a year. To the point I can no longer save a dime. It was devastating to me. Trump doesn't make large corporations like Apple and Amazon pay taxes. Then he will cut taxes again so they can keep buying their own stock
He always thought when I was a kid if I can only make $90,000 a year I'll be doing okay but then when you get there you paying half of it in taxes and the other half is just to live and like you said you see all these big huge companies that don't pay any taxes some of them actually get a tax rebate of millions of dollars and you scratch your head sign me up for that deal and another thing I used to hear all the time Sean Hannity and all the other Republicans when Barack Obama was President all these deficits and everything but now Trump is in there and the deficits are even higher and no one cares
@@joshuabeeler1029 Trump is turning out to be Obama on steroids.. bigger gubbermint, bigger deficits, bigger national debt, bigger military industrial complex bankrupting us, yet more corporate tax cuts and wanting negative interest rates and to destroy currency. I'm convinced all candidates are really the same once they get in there.
@@JenX422 yeah I think they get in there and they realize how bad everything really is and they're just like there's nothing we can do I think if we did get somebody in there they had good intentions I think once they got there they would look at everything but I think if we had somebody that was completely honest it's sad that we was going to go through some hard times I think the American people would probably cry about it but I think they were eventually understand
How can anyone with even have a brain not understand how all wallets work? All wallets won't take you to the next step of the set up process without agreeing that you've written down your 12 word phrase. The real problem is Schiffty isn't technologically astute or he just doesn't want to KNOW how bitcoin security works.
“I didn’t forget my password. I didn’t even know I had a password!” Pshhhh. I don’t think you are helping your argument. You should check with the guy that created the wallet and see if he remembers the password or key phrase.
Ok so I actually disagree about Trump increasing the national debt. James Rickards in one of his books mentions that the Fed has blown up their balance sheet and the money supply, but the reason we’ve had little to no inflation is because there’s no velocity. People aren’t doing much with the new money supply. The government wants to increase spending to get the economy running and velocity up, which, given the crazy new money supply from quantitive easing, would dramatically raise inflation. This rise in inflation is what the government wants because it lowers the REAL value of the national debt. Idk if it’s wise for the government to spend more just to decrease the real value of that very same debt by way of inflation that may never come, but I think that’s the idea
Your bitcoin problem seems like: I've opened a bank account for you. Here is my.. er.. i mean your account number. Wire money into it to see how it works. Then you blame the dollar because you don't have the credentials to prove you own the account.
"I feel like an oreo cookie" "You like a pile of shit". Few people know of this movie Mr. Hiatachi. Don't forget about the romantic pimple song in the park.
LOL No, you didn't. And if you did you got what you deserved. Shorting something as volatile as bitcoin is a fools game. At least if you buy it, the most that you can lose is your original investment.
Peter Schiff is a very smart fellow, but he contradicts himself. I wholeheartedly agree with him about eliminating the income tax, but unless you are an anarcho-capitalist, eliminating the income tax needs to be replaced by another source of taxation to sustain limited government, albeit with economic checks that enable representative repubulicanism. To wit: 1) You can agree or disagree about SS/Medicare insurance, but the facts are: FY2017, FICA 15.3% withholding collected around $1.1 Trillion for SS/Medicare and paid out $939 billion[1,2]. Eliminating FICA contributions does not improve our fiscal condition one iota, but it does negatively impact senior citizens, today and the current and future generation in their old age, tomorrow. Price inflation is causing the rise in caps on withholding taxes thanks to the Federal Reserve. Remember that 40% of SS/Medicare recipients are military veterans and their families[3] 2) If you want to have a representative republic, civil rights must be restored (nixing the 2001 AUMF, Patriot Act, Freedom Act...) and economic checks must be placed on Congress to stimulate the economy, i.e.: To lower debt/gdp, consider transitioning to a decentralized form of Edgar Feige's 0.3% APT tax[4,5] on dollar liquidity flows[6,7], where tax proceeds are apportioned to local governments and bubble up to State and Federal levels after local fiscal issues are addressed (including price inflation). Besides saving $800 billion/year, it raises net profits, raises net wages, lowers prices and unilaterally addresses tax havens[8,9]. This enables local governments to lower property taxes, lower education taxes and limits excessive state and federal spending of our tax dollars. That's the stimulus we need for business and job creation in our local communities, along with less red tape to start and operate those going concerns. 3) The main drivers of national debt are guns & butter spending. We're dishing out $1.25 trillion on national security[10] and over $1 trillion on welfare[11]. The Pentagon and HUD haven't passed an audit in decades so the public does not know where trillions of dollars have gone[12]. BTW, the petrodollar is slowly going away[13] and the global bond market will not be locked into the dollar so you better get started now on improving debt/gdp ratios. Going after Russia[14] and Iran[15] for trading oil in Euros is fruitless in the long run. Do this or consider boarding up your windows at night from the growing number of 'hoover' people in your neighborhood. [1] Key Elements of US Tax System | The Tax Policy Briefing Book | Tax Policy Center www.taxpolicycenter.org/briefing-book/what-are-major-federal-payroll-taxes-and-how-much-money-do-they-raise [2] Social Security Ran a $44 Billion Surplus in 2017 -- So, Why Is the Program in Trouble? | Motley Fool | 2018 [3] Research: Military Veterans and Social Security | SSA [4] Alternative Proposals Reform, May 11 2005 | Video | C-SPAN [5] Taxation for the 21ST Century: Automated Payment Transaction (APT) Tax | SSRN [6] Intraday Liquidity Flows | FRBNY [7] Worldwide Currency Usage & Trends | SWIFT [8] The Spider's Web - Britain's Second Empire | RU-vid [9] [PDF] The Treasure Islands | Nicholas Shaxson [10] Making Sense of the $1.25 Trillion National Security State Budget| POGO | 2019 [11] CRS Report: Welfare Spending The Largest Item In The Federal Budget | Sessions | 2012¬ [12] Dr. Mark Skidmore - $21 Trillion Missing from US Federal Budget | RU-vid [13] Path to hydrogen competitiveness A cost perspective | Hydrogen Council | 2020 [14] Exclusive: Russia's Rosneft to switch to euros in oil products tenders - traders | Reuters | 8/21/2019 [15] What do the world’s leading terror sponsor and the world’s largest oil importer have in common? They’re working against the U.S. dollar. | The Trumpet | 9/30/2019
President Trump is talking like many CEO's, sales people, and politicians, exaggerating the good and minimizing the bad. I support the Trump administration for reducing taxes and regulations compared to the previous admin. Trump 2020
Wait I'm confused. Don't you subscribe to the Labor Theory of Value? Its entire premise is the Theory of Intrinsic Value, which is also your entire premise for opposing crypto. How can you refute Socialism (Marxism) without refuting both the Labor Theory of Value and the Theory of Intrinsic Value, thereby refuting your own argument against crypto? ¯\(°_o)/¯
Love the first part about capitalism, dislike the second part. Remembering your password, that is self responsibility. It also means that it IS completely decentralized. It also means NO ONE AUTHORITY can get it for you. If you had set up your own account you would have known the responsibility that came with it. It's like capitalism, it's like freedom and small government. Personal responsibility. And too bad when you lose all you have. Maybe get two wallets, maybe whatever. Not saying Bitcoin is the best, but the password part. I've lost plenty of passwords in my digital life since being a kid that I could not retrieve, it don't see it as a flaw.
Peter, you say that Western Europe are Marxist societies... You claim that there not economically advanced like the U.S.. Every been to Western Europe and look around?? Light years ahead of the U.S. in regards to infrastructure, banking, etc, etc.. You're full of BS!
Maybe Kudlow is the one convincing Trump everything is great. Kudlow was selling his "supply side economics " on CNBC before Trump ever started to run for Presidency. Maybe Kudlow is trying to defend his work. I never understood "supply side economics" to do anything but create dead inventory.
Peter, what you described to be your problem with your BTC wallet is exactly the same issue you mentioned earlier: some people would rather like to have a stable, secure income (banking, communism) while entepreneurs secure their future by their own means (physical gold, BTC, capitalism). Food for thought. If you send a bag of gold to the wrong address you'd lose it forever, it just happens to be the same with BTC: a flood came over and wrecked the land where you buried your gold. If you had the exact GPS coordinates you would be able to retrieve it no probs, but you just gazed the spot in between two rocks and never cared what could happen in the future so you didn't mind to write down the exact position. Flood came in, moved every rock and you're SOL. Luckily it was an inexpensive lesson that you learned at the expense of someone's generosity :)
Regarding your Bitcoin wallet issue: If people listened to your podcasts they would know the story and circumstances on how you acquired it. No need to explain yourself Peter. All the crypto youtubers and twitters that commented this topic shown ignorance. I am a hodler but i get your point. Btw BTC will bottom at about 5.5k - Get yourself some new wallet and buy some crypto:) Have a nice day!
We don't have anything near capitalism. Since 2008 we have socialism for the rich or more accurately socialism for ultra rich persons, rich multinationals, Wall Street, and rich employees or lobbyists working for all of those mentioned, more commonly known as "golden boys".
Not necessarily! Capitalism empowers the businesses and the wealthy who then buy influence in the government, get it to protect their wealth and expand their market, shift the tax burden to the public, enact laws that empower the business and disempower the public as we are experiencing in the US right now! Socialism, depends on how it is executed and what version we are going for. The authoritarian flavor is the communist governments of USSR, China and Cuba. But it can be also a democratic government with socialist economic policies. However, we don't see much of that, because a superpower that is representing capitalism (USA) is always ready to fund, equip, train and deploy right wing paramilitary death squads to subvert the will of the populace and overthrow any left leaning government and replace it with a right wing capitalist/exploitation-friendly general! Government is the only institution able to reign in the powerful business monopolies and keep them from enslaving the populace, so we do need regulation and government power to protect the public! It's like advocating for a weaker government where any militia can beat its army! Then who's gonna defend the public?
With total respect----The problem Sir discussing the US economy is that President Trump cannot say some things and you can.----Do you expect any President to say we have a 30%(pick a number) chance of a Great Recession or worse? The other problem is that criticism of President Trump gives comfort to the Democrat party which we all know you hate as much as anyone here.
Peter the question is WHY Trump is acting like that. He is not an idiot and I am 100% that he knows everything you said. WHY? What is his strategy? Gain time? I believe that even if he wins the 2020 elections, nothing will change and the tragedy will be perhaps, postponed a few years. Simple question deserves a simple answer.
Capitalism empowers a few people and places a majority of common people into servitude. Not everyone can be successful. Capitalism only thrives off the backs of those who are not positioned to succeed by birth, intellect, who knows who, or by chance luck. Taking advantage of people with lesser talents or intellect or position is not any different than the physically strongest taking advantage of the physically weaker people as is the case with people being conquered historically. Someday society may understand this and opt for altruism to create a better world for all by working for the good of all. Obscene amounts of wealth for perceived power, while others are homeless and starving is immoral and history will judge us as being so. In the same manner, we look back at our ancestors and how they treated the common people. Decentralized digital assets like XRP ETH and ADA will move us in this direction.
I have been following your blog for months, and I have learned a great deal of good information - I am grateful for that. I am 63 years old and know I don't know everything, and I am fortunate to still be open-minded. I will continue to follow you, because I believe in you. But I think you are mistaken in calling AOC a victim of idiocy. I think you are in a great position to help educate AOC and Bernie Sanders and others in their ilk, to help build a better country with a healthy free market. Why don't you meet with them and present your concerns about their positions? Challenge them to a debate. I think Bernie and AOC care about the people and want to help people improve their lives. I think the fact that you called the last recession and are bound to be right about what's coming, puts you in a position of authority. It's easy to criticize people who are ignorant, when you are in the best position to help educate them. You helped me and I have been a democrat and liberal for decades. Also remember that the social democratic nations in Scandinavia are consistently rated as the happiest countries on earth, and recently as being the best places to raise children. How does that happen if democratic socialism is so horrible? If I was a democratic candidate, who got elected as President, I would try to hire you immediately as my top economic advisor. You can help this country even more than you have. Anyway, my thoughts and thank you for all that you do so generously....
My 12 year old nephew can repeat his 12 word bitcoin phrase forward and backwards. He can move his balance from one wallet to another without having access to his original wallet, pin or password. Promblem is Schiffty Schiff isn't technologically astute to own or even comment on bitcoin. What ever credence Pety thought he had on the topic of the future of money is out the window/toast!
The $ted spread is collapsing while the federal reserve and it's banks are bidding against each other for The Bills? The federal reserve is bailing out non - bank hedge funds while looting Commerzbank and D.B.? How can the federal reserve and social security program operate independently? The basketball already cost more than its associated sholarship?
Great podcast Peter but you keep forgetting to always say FREE MARKET capitalism instead of just capitalism when comparing it with communism or socialism, which are both capitalistic systems too.
I know I'm doing likebait, but "In United States, bread wait for people and there is wage slavery, but in Soviet Russia, people wait for bread and there is rations slavery."
The vast majority here are broke and live paycheck to paycheck. More than half could not come up with $400 cash. "Healthcare" is outrageously expensive as are property taxes in many areas like Chicago. There are ways to cut expenses and tighten the belt. No eating out and no unnecessary purchases. Cut the kids cellphones to bare minimum.
At around the 35:00 mark he really makes a good point about entrepreneurship and jobs on a fundamental level. If you want to start a business of your own, start a business, if you don't have the money to invest, then work for it. Nobody is just going to hand it to you. That's the risk of starting a business and not knowing where the chips will fall. With a job you receive a pay check, you're covered for how much time you put in and the wage you get, it's up to you if you want to save that money or blow it on whatever. So that you can take that saved money and invest in what ever you want! That's freedom and if you want to change it to some socialist utopia, I've got news for you it will end up in disaster just like Nazi Germany and the Soviet Union or Venezuela for that matter.
I think what trump is referring to is the financial economy... the criminal giving of money to those in the market ( banks, tax cuts, investment firms etc) while the majority of Americans wallow in muddy debt. Im canadian, and not that our system is any better, its all the same shit, but im baffled by the corruption that we all know exists... and the criminality of it all. Is it just me?
If you hate socialism - Why are you living in a socialist country - Puerto Rico? - don't take me wrong - I hate it 2... But i can't stand people that say "I hate it" but yet, lives in one. Its similar to a FAT doctor telling me to loose weight when he's fat in the first place.
Peter, Donald is right, if he gets negative rates he CAN pay off the debt. The service of that debt will be done by the Fed, not by the government. The Fed is the one that has to pay interest on that debt. To the borrower(the government). If they can roll over existing debt into negative interest yielding bonds that the Fed will buy... The Fed will be the one to choke on all that debt, while paying the government for the "privilege".
Peter, best if you'd stick with the PM markets, because you have customers, and I'd hate to see you cut off those who don't have your political views. Something about glass houses come to mind, but I just can't put my finger on it. Could you help me out here?
