Paul Buitink talks to Peter Schiff, founder of Schiffgold, about the increasing global debt levels. When Paul asks which currency is in the most trouble, Peter responds that's it looking bad for all and especially for the US dollar. It's just because of its world reserve status that on the surface the dollar still doesn't look as bad as the others.
He believes that debt will increase in both the U.S. and the EU, with politicians prioritizing reelection over the economic and public well-being. This unsustainable trajectory, he warns, may lead to Argentina-style inflation, because politicians won't dare to default.
Peter talks about the endgame for the current financial system and the role the dollar and gold will play going forward.
Peter remains skeptical about the value of cryptocurrencies like bitcoin. In his view, a cryptocurrency only has real value when backed by a tangible asset such as gold. Without such backing, he argues, cryptocurrencies lack inherent value.
Peter says you have tot protect yourself with gold and other non-printable assets. The US presidential election results will not change that since both candidates will bring more inflation.
Follow Peter and Paul on X here:
/ peterschiff
/ paulbuitink
Peter's companies:
europac.com/
schiffgold.com/
www.schiffsovereign.com/
schiffradio.com/
Timestamps
0:00 Intro
1:25 Unsustainable currencies
7:52 Investors are clueless
8:50 Eurozone troubles
14:30 Demise of the dollar
24:33 Gold and the endgame
27:35 Bitcoin
30:45 Gold backed stable coins
35:24 Storage and confiscation
39:45 Closing remarks
2 июн 2024
