@@JM-si8xr if nobody is using Bitcoin it's the same with gold and silver. Only a tiny fraction (3-5% only) of gold and silver are being used in industries. And they are recyclable therefore fewer quantities are needed. And majority of stock listed companies are overpriced. They do not have production of any goods like Berkshire Hathaway.
Ik he’s and ally to Austrian economics so I don’t understand why the bitcoiners hate him. Realistically if your are 100% sure Bitcoin will succeed your being arrogant. It may or may not succeed.
He's been a perma bear for decades, been right twice and now possibly 3 times. Broken clock is right twice a day but then you're missing on the other 90% of the time which was a massive bull run.
Peter is consistent with his message. I've been watching and listening to his interviews since about 2014. The government and the public would do well to listen to him.
Having lived through the stagflation of the 1970s/80s,all the same ingredients are in place today. The difference is we had far lower levels of debt than people today - they were very tough times back then, high unemployment for years, rising prices, high interest rates - we really struggled but people today are far more exposed and will suffer much more. Hold lots of cash don't get sick, don't get pointless university degrees, learn a trade and try not to get fired or laid off.
My question for Peter would be, when would wages go down in these scenarios he proposes? A nod to Lyn Alden's mention on higher wages keeping inflation at its new highs. If we have increased supply, more jobs, etc. Price of goods go down, when do wages go down after these phases of inflation and price increases? Are workers going to just accept a pay cut? No, so workers will likely get laid off to combat cost of labor in a lower priced market. I would wanna hear Schiff's take on this type of scenario.
he's been saying this since the last one in 2008, so after 14 years he is finally right. So if you listen to peter schif you would have been in your basement since 2008. I used to have respect for him, but all i see is the same thing until it's correct, i mean it's a pretty bad track record.
You are missing the point. He is not picking a date when things collapse, he is providing the reasons. The government can cover up things for a while and one day gig is up. It's like your doctor telling to eat right and exercise. He won't give the age when you will have the heart attack.
Yeah I lol’d when he was like “I predicted this recession last year when almost no one else did” - like because you’ve been predicting a recession every year for the past decade and a half, Peter lol
I think old Joe went with 0 because when we say it's more like 10 times whatever the experts say, he will still be correct LOL! 10 Times zero is ...... Yeppers ZERO. PRAY, PREPARE, AND BE PEACEFUL. blessings
It is not just Brandon that knows ZERO % about the economy. The same goes for Yellen, Powell, the entire US Fed (including Fcukwit Bernanke), the Senate and Congress. They should all be rounded up and put to the sword
It's easy for someone like Peter Schiff (a white, rich man) to sit on side and criticize... However, we should all be thanking Biden and the FED right now! COVID supply-chain lockdowns threatened an economic depression. Biden has now gotten COVID under control! Economic stimulus by Biden and providing liquidity by the FED was necessary to help those in need and prevent an economic depression! It Worked = made economy very strong = inflation. Now FED rate hikes done to bring inflation under control. We have been saved becuase Biden got COVID under control and FED prevented an economic depression!
@@somethingginterestingg4275 No. He used the word "PERCENT". "Zero percent inflation". The RATE of inflation is not a PERCENTAGE. He was most definitely not being "obvious". He was either being typically dumb or purposefully misleading. Then he finished with "zero inflation last month". INTENTIONALLY MISLEADING at best.
@@dialecticalmonist3405 I'm not saying it wasn't a dumb mistake. But clearly he meant there was no inflation....compared to the last month. No added inflation from the last numbers
No, not yet - maybe later ... "the bigger they are, the softer they land" is much more likely... ... the middle-class is going to be the victim. No change here / "nothing new in the west" ...
Telling the truth gets you a long way. Also, I agree! If I were POTUS, you bet your 401k Peter would be on my financial cabinet. The FED is a bunch of squares.
Why is Peter great? He is wrong so much of the time isn't he? He has been calling for the dollar collapse for years maybe decades yet its the strongest currency. He has been calling for gold to explode and all it does is go sideways. He has been bashing bitcoin yet its up massively.
Yes, I agree... the mkts are stoked things did not get any worse. It's easy for someone like Peter Schiff (a white, rich man) to sit on side and criticize... However, we should all be thanking Biden and the FED right now! COVID supply-chain lockdowns threatened an economic depression. Biden has now gotten COVID under control! Economic stimulus by Biden and providing liquidity by the FED was necessary to help those in need and prevent an economic depression! It Worked = made economy very strong = inflation. Now FED rate hikes done to bring inflation under control. We have been saved becuase Biden got COVID under control and FED prevented an economic depression!
When I started investing in 2000 ( and lost my ass) ,and again in 2006 (and lost my ass again), and then again in February of 2020.....(are you starting to see a pattern here?) there were gamblers then, but nothing compared to the number of gamblers created by Covid-19. All we are seeing is the American people gambling in the stock market trying to get their fix.
Nailed it on the head with the workforce peaking in 2019. Have a look at the age demographics of the United States. The baby boomers are reaching retirement age and leaving the workforce for good. There is not enough of a generation behind them to fill those vacancies. The 2020s was always the decade where labor shortages take effect and the pandemic has only accelerated this process.
@@HepCatJack His argument is actually that rising inflation will force baby boomers on fixed pensions back into the workforce even if they are currently leaving. If you think the government will be in any position to adjust pensions to the coming inflation surge, think again. A lot of people will find out the hard way that they placed their hope on the government instead of precious metals.
@@johnkla7866 space mining is coming. People who have bought gold may find themselves holding a metal that's increasingly available. The asteroid 16 Psyche, for example could make everyone on Earth a Gold billionaire (at current prices) if it were distributed amongst every person on Earth. Gold bugs may find themselves squashed.
Gold and silver are useless. Just look at price chart in the last 60 years. Bitcoin and stocks are better . Nobody is using Bitcoin Nobody is using stocks and they don't produce anything like Berkshire Hathaway. Nobody is using gold. They are actually all the same.
@@normandolinic2044 Very true But that is the reason Peter Will Never be a President He is to clever and to honest for that. if you follow the Peter Shiff podcast on y tube you will understand.
It's easy for someone like Peter Schiff (a white, rich man) to sit on side and criticize... However, we should all be thanking Biden and the FED right now! COVID supply-chain lockdowns threatened an economic depression. Biden has now gotten COVID under control! Economic stimulus by Biden and providing liquidity by the FED was necessary to help those in need and prevent an economic depression! It Worked = made economy very strong = inflation. Now FED rate hikes done to bring inflation under control. We have been saved becuase Biden got COVID under control and FED prevented an economic depression!
Did you read that his bank was closed? And he critizes bitcoin? The irony Would NOT have happened in crypto. QUOTING SCHIFF: "Also it costs a fortune to run a small bank. That's why I never really made any money. The compliance costs are outrageous." Dont follow like sheep! Use your BRAIN
Peter Schiff makes clear, bold (sometimes hyperbolic?) statements, but they are always backed up by a consistent, coherent argument. You can disagree with his line of reasoning, but you are going to have be careful and thorough.
@@billythedog763 The dude has been calling for price inflation for YEARS. He well described how it was formerly confined to financial assets. A vast proportion of his points are on target, especially around debt, growth expectations, overvaluation of assets, and undervaluation of commodities. His major weakness, from my experience, is calling for impending weakness in the USA dollar.
2021 I drove 165,000 miles, while so far this year I've logged 101,000. Everywhere I go to either get loaded, or unloaded, I'm told the same thing - "we're short staffed; we're on a skeleton crew; since 2020 people don't want to work" etc, etc, etc. Word it anyway you want, but we're way short in the blue-collar workforce of where we were in 2019. Now Hiring signs are everywhere I go. This was an exceptional interview. Peter, AGAIN, is correct. Most of the 19th century prices fell do to the Industrial Revolution which produced many more goods with less labor. Likewise, Henry Ford's high production assembly line built 9,000+ Model Ts daily, dwarfing other car companies, and driving down the price to just $260 which is equivalent to $4,400 in 2022. Imagine if you could buy a car today for only $4,400? That's why Henry Ford became wealthy - selling AFFORDABLE goods to a lot of people.
It's easy for someone like Peter Schiff (a white, rich man) to sit on side and criticize... However, we should all be thanking Biden and the FED right now! COVID supply-chain lockdowns threatened an economic depression. Biden has now gotten COVID under control! Economic stimulus by Biden and providing liquidity by the FED was necessary to help those in need and prevent an economic depression! It Worked = made economy very strong = inflation. Now FED rate hikes done to bring inflation under control. We have been saved becuase Biden got COVID under control and FED prevented an economic depression!
It's easy for someone like Peter Schiff, and Ron Paul, (white rich men), to sit on side and criticize... However, we should all be thanking Biden and the FED right now! COVID supply-chain lockdowns threatened an economic depression. Biden has now gotten COVID under control! Economic stimulus by Biden and providing liquidity by the FED was necessary to help those in need and prevent an economic depression! It Worked = made economy very strong = inflation. Now FED rate hikes done to bring inflation under control. We have been saved becuase Biden got COVID under control and FED prevented an economic depression!
Always a pleasure watching this mans interviews. If people like him ran this country, we would once again be the strong America other countries dream of one day becoming. Now we are merely the mockery of the world it seems like.
@@rebeccaskachok-weidig17 Not really trump matched Obama with spending and money printing and his covid response started this inflation crisis. The us economy has been weak for a long time which is why so many youths and adults are voting for socialism.
Peter is always well ahead of the curve with his predictions. I always shake my head when things do happen as predicted. Sadly this time things look grim
Although< I have interests in global economics I don't watch the news anymore... I have enough FUD in the crypto markets lol. Thanks for sharing this news and offering your insight on how to navigate crypto during unfortunate times/events like this. You're right about keeping level headed when investing/trading so that's why I think it's important to limit the amount of FUD we consume. I don't watch the media but the news that you present gives me just enough to know what's going on without riding the emotional rollercoaster if I were to watch the news everyday. Now I buy and just trade long term more than ever, I have made over 23BTC from day trading with Alice Marcella Signal in few weeks, this is one of the best medium to backup your assets incase it goes bearish..
have goon thought this Digital currency over and over again and didn't get to understand it till David Ryan came in the picture They are indeed experts
Libertarians have been complaining about the debt ever since Reagan went bananas with military spending. Knowing the endgame prolly makes you apprehensive to take risks. Amazing how long the charade can last
Schiff's economic logic is rock solid. We live in such a mad and corrupt world, that he's usually wrong about the outcomes, but his analysis is always spot on.
One thing for certain. At the end of this deflationary inflation cyclical insanity, your bank account will be a lot smaller. Wait until the IRS gets to work . RIP middle class.
@@LF12468 we sleep peaceably in our beds at night because rough men stand at the ready to do violence on our behalf. I prefer Orwell to Churchhills version
Peter always has a way of explaining things simply and easily how the hell does the Government not see how correct he is and at least consider his point of view and suggestions. Just unbelievable egos of the elite in Washington DC
VTSAX dropped 26% since January. Food prices increased 30% and gas prices increased by 75%. Property taxes increased by 5%. Is the world a safer place since the Afghanistan fiasco?
UBI is a pipe dream offered to useful idiot leftists in poverty while the Democrats continue to deliver corporate welfare. It is not a real proposition.
OMG! You just provided an ENORMOUS service for all your viewers! All these point were spot on. Thank you so much for having Peter on. One of the best interviews you’ve ever done! Can’t wait for part two.
Peter , while you're at it , why not get rid of the FAA,, let planes fly when ever they want , let the industry police itself and maintain bare minimum maintenance so the industry can provide more jobs
Peter Schiff, although being noticed as a man with great knowledge in economics, is still incredibly underrated. Why can't people like him be in the most important places in the government. Image him being POTUS.😍
This is like getting kicked in the groin every day by the government and the government takes one day off and proclaims how good it is you didn’t get kicked in the groin today.
Senile Joe would be amusing opening the annual village fete with his word salads and lack of grasp on reality. However he is supposed to be the leader of the world's largest economy and nuclear arsenal.
I agree the pivot is coming because the government won't be able to pay the entitlements like social security n that would be very bad in the eyes of the American people ...so Powell will print
It's interesting. I remember Jimmy Carter and the inflation and 20% interest rates. And the fact the credit became more sound and everyone made lots of 💰. And of course balancing the much smaller budget was talk of the town. This is a cycle that we repeat over and over.
if nobody is using Bitcoin it's the same with gold and silver. Only a tiny fraction (3-5% only) of gold and silver are being used in industries. And they are recyclable therefore fewer quantities are needed. And majority of stock listed companies are overpriced. They do not have production of any goods like Berkshire Hathaway.
30 minutes to know why 0% inflation ?? 😂😂. Well put it simple dudes , for him it is 0% inflation because he has literally 0 expenses , everything is paid to him by US !! 😂😂. So yeah it is 0% indeed
"If the Fed keeps raising rates we will have a financial crisis like 2008, only much worse." Spot- on, Peter.👍 Spot-on. It is, simply, dumbfounding that so many people appear to not understand this.
I'm trying to get wealthy all over again by shoving millions into the Manitoba credit unions up in Canada. I dream about interest rates/GIC rates going higher.
I've been listening to Peter's take on things of a financial matter, for years...I watched as his viewership diminished the more brazen he spoke on the demise of our economy. I'm noticing now however, as the day of reckoning becomes an ever more clear inevitability, his viewership has grown...Case in point...Even the blissfully ignorant eventually see the light....Buckle up.....
Who voted for that fool? Not trying to make this topic a discussion of donkeys elephants but Joe Biden for President was the beginning of the end for the US.
It's easy for someone like Peter Schiff (a white, rich man) to sit on side and criticize... However, we should all be thanking Biden and the FED right now! COVID supply-chain lockdowns threatened an economic depression. Biden has now gotten COVID under control! Economic stimulus by Biden and providing liquidity by the FED was necessary to help those in need and prevent an economic depression! It Worked = made economy very strong = inflation. Now FED rate hikes done to bring inflation under control. We have been saved becuase Biden got COVID under control and FED prevented an economic depression!
I find it hard to believe that the US dollar is going to collapse, unless it is part of a larger multi national collapse. There are other much more vulnerable nations. The EU is going to have a tough time given current headwinds. My biggest concern is I think we are closer to experiencing a devastating world situation than ever before. One hopes cool heads prevail.
