Patrick Bet-David debates Peter Schiff on crypto w/ Dan Bongino

[@jamesw6069]

“We have to pay attention to what the youth is saying” - the youth is saying they lost everything that had in crypto.

[@xmonikerhotmailcom]

Gold fails on several points such as it is not finite. In fact the largest deposit ever was found in Africa a few days ago. It fails as a standard for currency because governments always overprint more than what they own. The other issue is it is heavy and hard to move around. Bitcoin solves all these problems. Every transaction is on a ledger for the entire world to see so no monkey business with over printing if BTC became the standard. Also bitcoin is completely decentralized. Governments have zero control over it. They can ban it all they want, it lives on outside the limitations of governmental restrictions. It cannot be taken away from an owner, the seed phrase is the key to the wealth. Some great books are The Bitcoin Standard and The Price Of Inflation. Education is key, otherwise yes, it does seem like tulip mania. It is far, far from that.

[@alexsadouski9995]

Good one! 👍🏻

[@SuperPenguin5495]

lmao

[@blacklightfreakout825]

And that they voted for Biden.

[@bradleyzum]

People are getting dumber lol

[@hood6854]

It’s funny how media and crypto peddlers always show these nice stacks of gold coins to represent what is nothing in reality.

[@Juankarosemena]

Crypto hodlers are delusionals gamblers

[@stevenporter863]

All they got. 🤭

[@xmonikerhotmailcom]

Gold fails on several points such as it is not finite. In fact the largest deposit ever was found in Africa a few days ago. It fails as a standard for currency because governments always overprint more than what they own. The other issue is it is heavy and hard to move around. Bitcoin solves all these problems. Every transaction is on a ledger for the entire world to see so no monkey business with over printing if BTC became the standard. Also bitcoin is completely decentralized. Governments have zero control over it. They can ban it all they want, it lives on outside the limitations of govermental restrictions. It cannot be taken away from an owner, the seed phrase is the key to the wealth. Some great books are The Bitcoin Standard and The Price Of Inflation. Education is key, otherwise yes, it does seem like tulip mania. It is far, far from that.

[@Serious-Man]

It certainly helps create the illusion of value.

[@Snubrevolver]

To date no one has been able to answer for that lol

[@mcmc7746]

5,000 years of monetary history says Peter is right.

[@888ssss]

300 years of ponzi scheme history agrees.

[@Juankarosemena]

We need a documentary called like that

[@stevenporter863]

It's the Tulip Mania again. History repeats itself( or rhymes ).

[@xmonikerhotmailcom]

Gold is negative 11 percent against inflation since 2009. Gold fails on several points such as it is not finite. In fact the largest deposit ever was found in Africa a few days ago. It fails as a standard for currency because governments always overprint more than what they own. The other issue is it is heavy and hard to move around. Bitcoin solves all these problems. Every transaction is on a ledger for the entire world to see so no monkey business with over printing if BTC became the standard. Also bitcoin is completely decentralized. Governments have zero control over it. They can ban it all they want, it lives on outside the limitations of governmental restrictions. It cannot be taken away from an owner, the seed phrase is the key to the wealth. Some great books are The Bitcoin Standard and The Price Of Inflation. Education is key, otherwise yes, it does seem like tulip mania. It is far, far from that.

[@CalimehChelonia]

It's insane.

[@abrahams.lincoln6749]

“They hyped the hell out of it.” Peter is a legend. 👍

[@stevenporter863]

I think Peter is basically saying Crypto is a hot potato or musical chairs game and looks like the music is about to stop.

[@WeThePeopleAudits]

That's what they do and it's not just with crypto it's with everything. They shill negative news while they are buying and then once their bags are packed they hype it while they are dumping. Right now now they are buying so count on negative news for a while.

[@xmonikerhotmailcom]

@@stevenporter863 BTC pronounced dead dozens of times in the past. Nothing new.

[@whiskers78753]

Patrick Bet-David kept shouting the whole interview; that shows who is losing the argument.

[@garyseeseverything8615]

Patrick a joke!

[@danclark2013]

It’s ironic that they show Bitcoin as a gold coin, not the algorithm that it truly is

[@danoneill2846]

it's a .9999 copper bullion art coin that is buffed up to look like gold !! Yep con job !!

[@rs72098]

The KZbin video that you're watching is all just computer software language. Does that mean KZbin isn't worth anything??? Tell Alphabet that their products aren't tangible like gold and aren't worth anything, then watch them laugh at you.

[@carlwatts1230]

It's known to some as digital gold. Gold and bitcoin share many characteristics. Both could serve well as a store of value because both are scarce and have strong guarantees of remaining scarce. And both score well on other characteristics we seek in money (divisible, portable, durable etc I think there's a list of 5 that are often cited).

[@maheshkumar-kg6nw]

Peter Schiff has a very distinct world View and has an habit of being historically correct 👍

[@roccoforte6889]

I have to agree on that one

[@roughhabit9085]

How much difference is there between distinct and very distinct?

[@jude999]

The power of common sense.

[@martinlutherkingjr.5582]

He’s more often wrong than right

[@GooglyEyedFrownyFaceMuffinMan]

he's been wrong on bitcoin for 8 years now... maybe it'll take another 8 for people to realize how foolish the old system is.

[@dementeduncle]

Crypto is musical chairs. When the music stops, crypto holders have nowhere to sit.

[@richardminhle]

Not even a digital chair.

[@carlwatts1230]

Something about the analogy makes sense namely that there a limit on the number of chairs like there is a limit on the number of bitcoin. I'd argue that's a positive characteristic for anything we'd use as money. Plus you get the benefits that come with it being electronic. Modern popular fad money / government money is crap. Both Peter Schiff and bitcoiners agree on that. And it's crap mainly because there isn't a limit on its creation. The parasitic class the modern-day slave-masters keep making more of it. Hence gold or bitcoin. Can't easily make more of the stuff.

[@mikenelson7894]

Quote from a Billionaire, "Never double down on a loser!"

[@1greenMitsi]

yeah, Peter couldve bought bitcoin at 30 bucks lol

[@1greenMitsi]

@@calvinsomething5348 why would you think im not buying here. I dont think the bottom is in but every investor with half a clue deploys capital methodically in tranches

[@luckyluke1503]

Peter could be wrong but I haven’t seen it yet. He has been right about 2008 Crisis and Today’s inflation which he predicted like 4,5 years ago.

[@awsomenesscaleb]

A broken clock is right twice a day. Peter has been saying the same thing his entire career and only get proven "right" when something bad happens. If you listen to this guy you could be waiting decades for one of his predictions to come true.

[@hysteria8455]

De-centralized monetary economy will cause havoc no matter who ever says it

[@morpheus587]

Never been wrong lol... you just said it took 5 years for his inflation "prediction". Meanwhile, Peter knew about BTC at $1 and was wrong about it for the last 10 years... missing out of the biggest bull run in history.

[@truthteller8965]

Being right about inflation and right about the recession has nothing to do with being right about crypto. Please read my comment after 5 months from now. I really request you to do that. Watch where Bitcoin will be. Right now, Bitcoin is at 19K USD Gold spot price is at 1850 USD per oz 6 months from now, please visit this comment again and we will see the prices again.

[@Lssjg702]

@@NomadBlack hahah it's about to go down again. Bulls are about to get rekt.

[@fahiyefarah]

I rather have no debate than a short debate that cuts off as it gets good.

[@asherrfacee]

I wish I had taken more of Peter Schiff’s advice. Been learning a lot of tough lessons in this market.

[@jmiogo]

Sell them rips

[@andrewlyons353]

It's not too late to purchase gold mining stocks. They're still very undervalued.

[@blakealtonen9858]

@@andrewlyons353 agree and silver is back to where it was 2 years ago so if you believe in inflation silver will be a great long term hold.

[@1greenMitsi]

really? I bought gold in 2020 for insurance - also re-bought bitcoin. My bitcoin is still up close to 400%

[@stan3030]

Ill say that when my silver starts to atleast keep pace with inflation

[@davecooper6540]

I’ve never heard Peter talk and afterwards thought “man I don’t think that dude was right”. The man speaks sense everything he speaks. When crypto crashes and the markets dump he’ll be seen like a prophet.

[@AK88.]

Unfortunately he won't, just like after 08, people tend to forget or not care who was honest. But his following will grow each time until we create a schiff cult in the woods

[@jossandman]

Peater Schiff would make a great Treasury Secretary

[@Hernsama]

KZbin PETER SCHIFF WAS RIGHT

[@mikeoz4803]

Peter Shill kept his investors poor for 11 yrs with gold making 45%. BTC investors made 32000% profit

[@alexmendoza9270]

Peter has been saying this since the Stone Age. Both sides can make you money but he won’t honor that lots of investors made money with crypto. He only says that gold will win out in the end.

[@youtubeisfascism]

I love Patrick and Peter. But Patrick Patrick, Peter's dream of a currency backed by gold is more reality than the dream Bitcoin pretends to be. Gold is money, whether you realize it or not.

[@wesleymalutama3651]

It would be the best money. But I don't think the government will let that happen.

[@joeacquavella6548]

@@wesleymalutama3651 Gov'ts backed their currency with gold in the past and will be forced to go back to that system in the near future in order to restore faith in their currencies.

[@xmonikerhotmailcom]

Gold fails on several points such as it is not finite. In fact the largest deposit ever was found in Africa a few days ago. It fails as a standard for currency because governments always overprint more than what they own. The other issue is it is heavy and hard to move around. Bitcoin solves all these problems. Every transaction is on a ledger for the entire world to see so no monkey business with over printing if BTC became the standard. Also bitcoin is completely decentralized. Governments have zero control over it. They can ban it all they want, it lives on outside the limitations of governmental restrictions. It cannot be taken away from an owner, the seed phrase is the key to the wealth. Some great books are The Bitcoin Standard and The Price Of Inflation. Education is key, otherwise yes, it does seem like tulip mania. It is far, far from that.

[@xmonikerhotmailcom]

Government can and have taken gold away from citizens. Impossible with bitcoin if you memorize your seed phrase and store it on a cold wallet. That is why governments are afraid of it. No more monkey business with money if we are on a bitcoin standard. I hate dishonesty so bitcoin is IT for me.

[@xmonikerhotmailcom]

@@joeacquavella6548 Then they will overprint and it will fail like a house of cards. Bitcoin is the best, every transaction is on a ledger. No monkey business by government as it is transparent for all to see.

[@thelasthourgetready]

This guy doesn't realise thousands of people have lost their entire life savings and will never touch cryptos again!

[@JorgeMendez-kn5ql]

@Satoshi Nakamoto You could say the same about your house as it's swallowed by a sinkhole.

[@Dscndnt4rmXXrth]

@Satoshi Nakamoto Central intelligence

[@xmonikerhotmailcom]

Gold fails on several points such as it is not finite. In fact the largest deposit ever was found in Africa a few days ago. It fails as a standard for currency because governments always overprint more than what they own. The other issue is it is heavy and hard to move around. Bitcoin solves all these problems. Every transaction is on a ledger for the entire world to see so no monkey business with over printing if BTC became the standard. Also bitcoin is completely decentralized. Governments have zero control over it. They can ban it all they want, it lives on outside the limitations of governmental restrictions. It cannot be taken away from an owner, the seed phrase is the key to the wealth. Some great books are The Bitcoin Standard and The Price Of Inflation. Education is key, otherwise yes, it does seem like tulip mania. It is far, far from that.

[@deadcell1]

@Satoshi Nakamoto tell that to people who brought into Bitconnect and Luna

[@roberthermens904]

@Satoshi Nakamoto Or made anything unless you sale.

[@jimknowlton342]

This Bet-David guy is insane. No one trusts Bitcoin/Crypto anymore. They all just say "Not your Keys, Not your Crypto"

[@ccassler3]

Peter Schiff was right, again.

[@rw235]

How

[@kamilsonsalla2491]

how do you know? because bitcoin dumped to 20k? it means nothing so far, when fed will pivot(which is matter of months) bitcoin will be back at 100k so this volatility is irrelevant. Eventually bitcoin will break from riskon assets when people will realize its actually safe heaven. But I agree regarding other altcoints, I think all of them are trash, only bitcoin matters

[@ccassler3]

@@kamilsonsalla2491 Bitcoin is objectively worse than most other coins. It's old. It's slow. It's inefficient. It's worthless. Have fun being poor. You should have sold.

[@kamilsonsalla2491]

@@ccassler3 bro, with all respect, you have no idea about crypto. There is nothing even close to bitcoin in crypto space

[@seesidesummerhouse6112]

Patrick coming in with the Chewbacca defence 😂

[@depecheddurand]

Peter schiff should be the chairman of finance in this country .If he runs for president i will vote for him in a heart beat.I`m a big fan even though i`m a fan of cryptos as well but he is right they should have gold backing .

[@Jimmy-st8oq]

Well his businesses are now in bankruptcy and he just announced he'd take bitcoin go help bail him out lol

[@Sectionmillionaire-fg8mm]

Funny how they use the gold coin to put BTC on it.

[@svp2010]

Exactly

[@johntrueconservative2547]

Crypto currencies are the tulip mania of the 21 century The sooner we go back to a sound monetary system the better It should have happened back in 2008.

[@asafnisan]

Governments will never go back to a gold backed system. Now they are pulling the strings, they have total control, why would they let it go? Nothing will change without a period of serious strife(which I don't favor either).

[@johntrueconservative2547]

@@asafnisan China, Russia along with several other countries are (and have been) buying up physical gold for years They are buying it and not selling it The Eastern countries along with the BRICS nations will go back to a gold standard The global economies will be split into a bipolar payment system Eastern countries will back their digital system with gold Western countries will back their system with military might.

[@dumbthingsyousee6969]

not gonna happen--to much population and not enough gold and or silver especially with all the industrial uses for these metals

[@alicecoppers8980]

Peter Schiff’s dad woke me up in 1980 with his book. Peter is the same way he is waking up people 40 years later about who is the crook.

[@monkeystank5241]

Exactly...same here. It wasn't fair the way Peter's Dad was treated by government. Been a Peter fan ever since. Really got me mad listening to Dave Ramsey trash Peter's Dad.

[@Lionheart_He-Man]

I believe you’re referring to Irwin Schiff, I just been of consuming all the information that Peter and his father had been talking about for years on the topic of finance and the economy, and I am just blown away how accurate these guys have been all these years and understanding the intrinsic value of money and assets. I strongly believe there is an agenda to dumb down the American public from understanding what assets really have real value versus old is fiat fake money stuff. Many of us can only imagine how much far we could’ve been by listening to sage advice instead of now when the market is crashing Because we put our trust in the government fiat currency system. ☹️

[@gregd4391]

Patrick is the perfect example of "crypto experts." He pushes cryptos but has no rational explanation as to why he does or why people should own them.

[@crinklecut3790]

This is a big reason why I never watch TV news anymore. They do a segment that’s 2 or 3 minutes long where nobody really gets to say much of anything and then go to another block of Pfizer commercials.

[@urigeheadmot1196]

Ain‘t that the truth

[@BIGGOODBOY]

PBD didn’t really debate. He’s just saying we don’t know what’s going to happen

[@carlwatts1230]

And he's not even a bitcoin guy. PBD is not a bitcoiner at all. He's agnostic on it like you say. I recommend Peter's debates with Erik Voorhees. Now there's a formidable opponent. Erik and PEter debated 2 times so far. I like Rochard's debate as well and I found his opponent (a gold guy) made some great points as well. I liked John Vallis in the debate he did. Saifedean has made some strong arguments in debate also. I think I like Erik the best as a spokesperson / representative of the arguments.

[@benjaminnicholson2442]

Everyone laughed at Schiff including his son but he was right once again.

[@sommi888]

He was saying Bitcoin is going to $0 when it was $800, then $3000 .. and now its $20k Hes only right if youre a pu$sy

[@joshlopez9056]

“The youth may be right”. Who is taking financial advice from someone who considers themself a “youth”

[@1greenMitsi]

well we were right about the internet :)

[@tacitus7]

Peter was at the top of his game: Measured, focused, concise, even conciliatory in his final proposal. He nailed it.

[@seanrezvani130]

Peter hammered the naive guy in his second statement. I never forget peter’s forecast year ago about falling the market.

[@vlcheish]

what about peter's forcast in 2012 that the market was going to crash? Peter was off what....10 years?

[@RantRantJoe]

Peter Schiff's golden moment, seeing Bitcoin tumbling to Zero. 😂

[@chrishart8548]

Still won't lose on gold. You can buy the 10g bars or get someone to look after it for you. It's never losing all its value like bitcoin and fiat currency

[@xmonikerhotmailcom]

Schiff doesn't actually own gold. Keep that in mind.

[@NaNa-wj8tw]

@@alanbishopman2022 hmmm strange because throughout our entire savage history that's exactly what we did trade with -gold and silver. If you've a spare gun to trade what will you trade it for a perishable loaf? Try again.

[@mn-mh6uy]

@@NaNa-wj8tw Nope. You have to divide your spare gun into incremental parts to make it equal the value of the loan. No other way to do it.

[@wk4240]

. . . And he wouldn't spend a penny on all the crypto in the world. :)

[@AB-fq4mr]

Being in the insurance industry for a few years, I have learned to never trust anyone that made a career out of it. Those are the scum of the scum, horrible human beings. Anyone that's been in the insurance industry for decades, run away any time those people open their mouths.

[@888ssss]

*trapped in cripto bitterness....

[@llewodcm20]

You can say the same for real estate agents!

[@timgibson3754]

@@888ssss Same old crap from you. Always say it's haters

[@888ssss]

@@timgibson3754 all you were trying to do was cheat someone else out of their money with your ponzi. i dont have much sympathy there.

[@nrght]

Buffett?

[@clearsara5686]

Peter is always right. Thank you for helping us all of those years

[@martinlutherkingjr.5582]

He’s wrong 99% of the time, look at the past decade

[@Zeppelin9899]

If you’ve listened to Peter about Bitcoin you’ve lost money. He’s been trash talking Bitcoin since what, under $100?

[@Zeppelin9899]

It would be like if he told everyone Amazon, Netflix, and Tesla were bad and going to 0, would you say how he was so smart because they’re down right now? Amazon down 40% Netflix down 75% Tesla down 50% Bitcoin down 71% These are all after massive profitable runs. Bitcoin is still up 764% in 5 years with Gold up 5% in 10 years lol. What a fucking clown lol. 🤡

[@raoulhery]

One year later, the price double from that bottom

[@Vincenzojabronikillers]

Keep it up Peter

[@user-hc5hy3lm7k]

If people use blockchain of gold, then they will realize that Bitcoin = blockchain of nothing. Then they will realize that pricing Bitcoin token backed by nothing at vastly higher price ($69,000) than tokens backed by gold ($1840) is ridiculous. Then they will conclude that tokens backed by nothing (Bitcoin) should be worth $0. That is what Kitco and Vaultchain concluded when selling their blockchain of gold. The blockchain of token is valued at $0 and the gold is valued at face value.

[@xmonikerhotmailcom]

Gold fails on several points such as it is not finite. In fact the largest deposit ever was found in Africa a few days ago. It fails as a standard for currency because governments always overprint more than what they own. The other issue is it is heavy and hard to move around. Bitcoin solves all these problems. Every transaction is on a ledger for the entire world to see so no monkey business with over printing if BTC became the standard. Also bitcoin is completely decentralized. Governments have zero control over it. They can ban it all they want, it lives on outside the limitations of governmental restrictions. It cannot be taken away from an owner, the seed phrase is the key to the wealth. Some great books are The Bitcoin Standard and The Price Of Inflation. Education is key, otherwise yes, it does seem like tulip mania. It is far, far from that.

[@elduderino7767]

i use to think the same thing but back then i didn't understand crypto you see the invention of bitcoin is digital scarcity, what is the significance of digital scarcity? why would you want to make something scarce? here you have a completely malleable technology that can be designed into a incorruptible monetary system, electronically exchanged around the world instantly with negligible fees, without depending on a single 3rd party or intermediary and with impenetrable security while being completely decentralised where every single individual in the system has the exact same access to it gold as a foundation of a monetary system is great but this is better, it includes the critical monetary properties of gold (scarcity, fungability) and enhances it with complete control over the supply, inflation/deflation rate and can be used in a digital age it is the evolution of the monetary system, that wealth transfer we were all waiting with the failure of the fractionalised banking system is happening right now in crypto, the bull will resume in short order.

[@walden6272]

Exactly. Peter is smart. He offer the crypto pumpers a trap. If they agreed to back cryptos with gold, then cryptos without gold is worthless. And that is something the crypto pumpers will never want to admit or else their scam would fail.

[@martinlutherkingjr.5582]

The advantage of bitcoin is there is no physical backing to be confiscated

[@walden6272]

@@martinlutherkingjr.5582 It's much easier to confiscated, just read the story about the couple who stole $Billion worth of bitcoins. Hackers can steal bitcoins too.

[@Rambleon444]

Shortest debate ever. And Peter won this one. Patrick Bet-David and Peter Schiff should do a podcast together I like to hear both their views.

[@angelcometh3610]

Peter is correct.....its just a pump and dump!! Peg it to gold if your serious!

[@xmonikerhotmailcom]

Wrong. Gold fails on several points such as it is not finite. In fact the largest deposit ever was found in Africa a few days ago. It fails as a standard for currency because governments always overprint more than what they own. The other issue is it is heavy and hard to move around. Bitcoin solves all these problems. Every transaction is on a ledger for the entire world to see so no monkey business with over printing if BTC became the standard. Also bitcoin is completely decentralized. Governments have zero control over it. They can ban it all they want, it lives on outside the limitations of governmental restrictions. It cannot be taken away from an owner, the seed phrase is the key to the wealth. Some great books are The Bitcoin Standard and The Price Of Inflation. Education is key, otherwise yes, it does seem like tulip mania. It is far, far from that.

[@Britishpatriot1]

Schiff you're the man! Love from England

[@criticalthinker6485]

Running to another unbacked currency (crypto) does not solve the issue of private central bankers unconstitutionally circumventing Article 1 Section 10 of the Constitution. When the masses demand a return to constitutional ‘real money’ is when the trust will be restored and prosperity returns for all.

[@xmonikerhotmailcom]

Gold always fails as a backing because of the government greed overprinting beyond their reserves. Bitcoin not so. Every transaction is on a ledger that everyone can see. It is the greatest way to weed out dishonest players in finance, that is why government hates it. The gravy train ends with bitcoin.

[@jfcrow1]

I wish I listened to Peter Schiff before I lost 200,000 in bitcoin. Just sold it all. Suing MSNBC

[@russeljones1464]

Peter doesn’t like fiat currency either and is against the government and fed working together to print money

[@BaldBrothers2009]

Peter the Great 🤴 Always great 👍

[@CleanWithEV]

Peter once said, “If I owned all the Bitcoin in the world, it wouldn’t be worth anything. Because no one would buy it because it doesn’t have any uses”

[@thomasn1278]

That's like saying if I was the only one using Facebook it would have no value...the value is in the network effect.

[@pablosabhlok]

@@thomasn1278 which of the thousands of cryptocurrencies will become the next national currency of the USA once people lose faith in the dollar? I think its more likely people will turn to something that is limited in supply like gold. Whereas there is an infinite amount of digital tokens that could be created.

[@thomasn1278]

@@pablosabhlok I agree that 99.9 crypto will go broke but bitcoin is nothing like those, it didn't even have an ico. Most westerns don't understand bitcoin so they think it's bad. Go to some 3rd word countries and they are using it more and more everyday, and it's only a little over a decade old.

[@martinlutherkingjr.5582]

@@pablosabhlok Bitcoin has a capped supply, crypto does not.

[@shoryukenpower]

I like Patrick and enjoy a lot of his other videos but on this topic I completely disagree. Think of how you budget and invest and spend money as you got older and wiser, compared to when you were in your teens or early 20s. Why would you ever look to the youth for investment strategy? All they care about is the current trend and have super short attention spans, courtesy of things like Snapchat and TikTok. You're talking about the era of investing in meme stocks and get-rich-quick schemes and BS NFTs.

[@exxxxoskeleton]

I make more money than my father & his father. The old ways are dying. Get with the program old timer

[@Eric31477]

Another Peter Schiff video! I love it!

[@brucehoffman4010]

right on Peter you told them the facts

[@davids3647]

One of the biggest pitfalls in Crypto is that when a Crypto become mature, those Crypto creators can create another Crypto and transfer all the money to that Crypto just created or they can just take all the money away from the pool. You have no right to claim back your money because they sold you the Crypto already. All you got is just a bunch of digital memories inside the computers or iPhones.

[@AK88.]

Aka a fork.

[@xmonikerhotmailcom]

Stick with bitcoin. It is the only truly decentralized project. Governments cannot ban it either. Nor can they take your bitcoin.

[@CR055FIRE]

Peter IS going to be right Peter's righteousness represents a fundamental property of spacetime

[@andrewlerma3348]

PBD is a great guy I really like him and met him personally but he's wrong, meanwhile Schiff is correct.

[@jossandman]

I find him too New York-ish.

[@xmonikerhotmailcom]

Gold fails on several points such as it is not finite. In fact the largest deposit ever was found in Africa a few days ago. It fails as a standard for currency because governments always overprint more than what they own. The other issue is it is heavy and hard to move around. Bitcoin solves all these problems. Every transaction is on a ledger for the entire world to see so no monkey business with over printing if BTC became the standard. Also bitcoin is completely decentralized. Governments have zero control over it. They can ban it all they want, it lives on outside the limitations of governmental restrictions. It cannot be taken away from an owner, the seed phrase is the key to the wealth. Some great books are The Bitcoin Standard and The Price Of Inflation. Education is key, otherwise yes, it does seem like tulip mania. It is far, far from that.

[@jossandman]

The debate, like Bitcoin, is over.

[@Swaradigm]

Peter Schiff is a legend! I daresay that he's been prophetic.

[@mikeoz4803]

Peter Shill kept his investors poor for 11 yrs with gold making 45%. BTC investors made 32000% profit

[@jupitershark2636]

@@mikeoz4803 what if you bought crypto in the last two years ;)

[@brutussmithers3777]

Peter Schiff setting this dude straight.

[@brutussmithers3777]

@Jeremiah Babe±¹⁹²⁰²²⁸⁴¹⁶⁹ bite me!

[@oneiljerry9460]

In crypto, you have to buy into the fear. It might seem hard, but it’s surely the most lucrative. The likes of Elon Musk investing even bigger on Dogecoin tells us that the bear market is only for the moment(it may take a lot of time but not gonna last forever). so those panicking on the street are only the average buy-and-hold investors. Surely there's gonna be a Rebound.

[@andrewtownsend886]

I am very curious with the level of instability in the crypto market, Holding doesn't profits anymore in this current second quarter dip is there a possibility of making profits in crypto trading?

[@bobbymainz1160]

@@andrewtownsend886 If you can afford to take the risk, do everything you can to achieve financial independence as soon as possible. It is made possible through crypto. 1000s of people have done it.

[@marksway7292]

I know that a bear market is when life-lasting wealth is been created but what should i be accumulating is what i really don’t know,.

[@stephaniestella213]

@@marksway7292 Even the best investors lose money when when the market is down or when they make a decision that doesn’t turn out as hoped. But, overall investing should increase your net worth considerably, mine was not doing that, I had to hire ‘’Eileen Ruth Sparks’’ as my F.A. who helped helped me understand what I was doing wrong and evident positive changes took place immediately.

[@jameswood9772]

@@stephaniestella213 I need to create a stream of passive income How can I reach this person for possible guidance.

[@TheGreatIndoors1979]

And yet, the media keeps displaying crypto as alternative silver and gold coins. They should start displaying them as overheated server rooms.

[@LANDSHARKK]

Peter should have bet Patrick and David

[@ledhalenV]

If I hear someone say “disruptive,” I’m gonna lose it. When everything is “disruptive,” nothing is.

[@Scottshafer-1]

Thanks for watching ☝️☝️ For mentorship and guidance Message me direct ☝️

[@kawikak.1657]

Happy for PBD. Been following the guy for a while now. Glad to see he’s making it in the big screen

[@ebtbmb]

Peter said it when Bitcoin was $68k and he's saying it now, it's 21st century Tulip Mania.

[@bkcellularking6772]

I wish that was longer. PBD and schiff are my 2 favorites.

[@I_Died_2_Weeks_Ago]

The glee on Peter's face, priceless!

[@pauld2913]

Silver and Gold will never be wrong. So there's that.

[@martinlutherkingjr.5582]

Neither will computers, they just run the instructions given to them. Lmao

[@renzgrand]

Peter Callled this For the Longest Time

[@johnjames5842]

Bitcoin dropped to 18k, Ethereum under 1k , I laughed so hard , imagine buying Bitcoin at 60k and losing 42k on each "coin" bahahahahaha

[@ITRIEDEL]

lol for some of us who have been in it since 2012, this isn’t anything. This is called market cycles. When the market is up, all the skeptics are quiet and just roll their eyes. When the market is down, the skeptics come out and like to laugh… Look at the past crashes and rallies…

[@johnjames5842]

@@ITRIEDEL because Bitcoin and crypto behaves like a commodity not gold or silver, it goes down with the market , and real money gold/silver stays the same or goes up. You will see , the big guys are selling, the plebes haven't figured it out yet and panic sold yet , but they will, and the ponzi scheme will collapse, 99% of crypto has no utility, it's useless , and most is a DARPA/fed reserve psyop to get ppl used to the idea of a cashless society, CBDC's . Crypto just lost 2/3rds of it's market cap, 2 trillion dollars poof!!! My gold and silver is still chilling in the same spot , not even a fire could destroy it.

[@kaysingh9174]

Millennials can’t decide on which coffee to drink in the morning and they are taking advice from them lol !!

[@MichaelJohnson-]

Insurance salesman debates legendary economist.

[@moepharmo]

Peter has been consistently right, it’s not about young or old Peter is intelligent & honest he trust Gold & so does history

[@ihrinvlad3018]

🔝Thanks for the comments. Much Appreciated🤝 send a direct msg right Away❤

[@georgemaximus694]

I am with you all the way Peter!!! Well said as always. Crypto backed by Gold. Excellent idea! I would start buying crypto if it’s actually backed by gold for reals.

[@tayah_enisret6183]

gold will never be the reserve currency again US will do everything to protect shit fiat dollar

[@RomilCPatel]

There are some crypto currency’s back by gold already

[@bmw803]

The young might not like the old way, but they also dont have experience, knowledge and wisdom. Peter never disagreed with cryotos, he only tries explaining that they were used as a speculative asset instead of an alternative to fiat.

[@bmw803]

@btwgrfqfeqfew logically and mathematically you're right, but governments have become beyond corrupt, abusive and wasteful. That's why many are looking to get out of the system. Gold standard prevents all this, and that's why they hate it. A gold backed crypto would be ideal.

[@bmw803]

@btwgrfqfeqfew Wow. You just named EVERYTHING why the gold standard is the answer. It prevents debt, keeps stability and especially keeps governments in check. It worked for 5,000 years. What doesnt work is a fiat system. We dont need borrowing, but savings And historically, every fiat currency failed.

[@bmw803]

@btwgrfqfeqfew It didnt work? How, America was at the top before we got rid of it. The fiat system is failing and without gold standard, you constantly have those booms and busts. Gold standard ain't perfect, but surely better than what we're in now. You can't grow forever.

[@bmw803]

@btwgrfqfeqfew And then, what's the outcome? A mess that we're in now. If you had to save to buy a house, a house wouldn't cost an arm and leg, and be a debt slave for 30 years. 1 step forward, 3 steps back. Makes no sense to me, but everyone has their opinions I guess. !!!!!

[@dazedhavoc]

Bitcoin to zero.

[@jack0296]

I don't own crypto, and I have to agree with you that most likely it will crash to very low point. And we will have a crypto winter last for 2 ~ 3 years. But, after that I think it will explode higher. Because we cannot look at crypto investment with logic. It's pure speculation.

[@mbands]

Bitcoin to ♾

[@buffalo4172]

The only reason Anyone has Bitcoin is exactly what I have said and the comment below explains Bitcoin to a TEE ( Bitcoin to ♾) Its all about Get Rich quick the easy way. People always want something for nothing and this defines Bitcoin to a Tee.

[@PandaLegionz]

This is what I have been saying and Peter finally said it also...in order for crypto to work and have value it has to be backed by gold....lets get a crypto backed by gold its really that simple. As of right now all cryptos are backed by nothing just hopes and dreams.

[@ihrinvlad3018]

🔝Thanks for the comments. Much Appreciated🤝 send a direct msg right Away❤

[@EricSmyth2Christ]

But then it would be centralized What if the person who was guaranteeing the gold payout went missing? Got robbed? The crypto would be worthless since it can’t be redeemed for gold at that point

[@DissentOrConcur]

PBD is saying we have to wait until the recession is OVER to see how unstable and unpredictable bitcoin is. In other words once the economy is good bitcoin will be good again. It’s about stabilization for when hyperinflation happens on the fiat DOLLAR. Bitcoin is extremely unstable. Gold is STABLE.

[@mitchellphillips2800]

Even the idea of tying bitcoin to gold. Ever see a bitcoin? Isn’t it gold? I think the powers that be will never let bitcoin be tied to gold. They will introduce their CBDC that would be tied to gold instead. Any thoughts?

[@DissentOrConcur]

@@mitchellphillips2800 if Bitcoin were so stable then countries would back there paper currency with Bitcoin. Gold is the way. Always will be. Oldest & most reliable currency.

[@TheShinchan99]

@@timetimetime3985 How would you create a stable currency with a basket of commodities? Commodities vary in price constantly and at which moment in time is the currency valued against which commodity? Gold was the backing for decades and had no issues and was the money for thousands of years with minimal issues. If a country wanted to make its currency more valuable vs another, it could just pick another commodity that's trading higher at a given time. None of that makes sense.

[@blacklightfreakout825]

The economy won't be good for decades. There is nothing manufactured in America, and when people lose their jobs in months, they won't be able to find jobs in YEARS. The jobs will be kept by the most educated and hard working. Bosses will fire people more quickly than ever before because the hiring demand will be on their side.

[@sarahbrown5073]

@@timetimetime3985 credit scores and goods and services are not commodities. Commodities like oil and wheat will not work, either because they get consumed. Very little gold actually gets consumed. It can be made into things, like jewelry, but that simply a change of form, not true consumption.

[@sumthinfresh]

Where's the debate part? All I saw was Peter throw out some logic and the other guy give some word salad

[@Adam-uc9hj]

Two great speakers. This was highly entertaining.

[@Lionheart_He-Man]

That guy on the left side, did he just say take advice on Janet Yellen and Nancy Pelosi? In his feeble attempt in defending cryptocurrencies, did he just say that we should take advice from the youth regarding the ‘trends that they set’? I don’t think I’ll be taking investment advice from that guy. I wish I had taken Peter Schiff’s advice a long time ago and invested more into precious metals which I just started a month ago but if I had done much sooner. I do like the idea that Peter stated that if we’re going to invest in cryptocurrency’s invest in something that’s back by a tangible asset, that makes phenomenal sense!

[@thechicantique4567]

Peter our leader! What else is he going to predict correctly? 😉👏🏼👏🏼👏🏼👏🏼👏🏼

[@aquarius9491]

Tales from the Crypto is dead, I always thought pyramid companies were illegal because it's an unfair enterprise, how can this crap go on & why is this not illegal ?

[@nickoftime3715]

A reputable gold backed cryptocurrency is something I can support.

[@wesleymalutama3651]

The government will shutdown that thing ASAP.

[@tallswede80]

yes absolutely I would use it.

[@youtubeisfascism]

Crypto currency is incredibly misleading. The value a blockchain provides is an independently reviewable tamper proof ledger. It's not a coin, or currency in any sense of the word. What Bitcoin did was to convince everyone the messages stored in the blockchain are coins, or bitcoins, or satoshi, or whatever they call it. When, in fact, they are just messages, independently reviewable tamper proof messages. Its an account's dream. Bitcoin is just the big distraction. Blockchains have been used for years with enormous success when people understand there is nothing special the blockchain brings to the blocks. Bitcoin revolution was to convince everyone their block had something special.

[@nickoftime3715]

@@wesleymalutama3651 that's what they said about Bitcoin. Perhaps, the CBDC will be a gold backed cryptocurrency.

[@slimefrank6317]

PAX Gold is a crypto backed by gold.

[@Jordanazrei4]

Please go on Patrick’s podcast

[@Asmodai2011]

Surprised Bet David didn't bring along his Card collection and other props and gimmicks to help support his scripted arguments. If you are debating against Gold during these times than you shouldn't be giving investment advise. Gold and the miners are the value propositions to be. Certain cryptos will survive this consolidation and go on to become the leaders in the cyber future instore for us.

[@jean-louislalonde6070]

Tulip bulbs. Don't forget tulip bulbs...

[@stevengarcia5382]

I never understood the value of Bitcoin. Peter nailed it on the head... " is in the fact that people want it." I never understood what people wanted it for other than believing it would make you rich. Everything has to be backed by something. What was bitcoin backed by? People think the Cloud is just in the air. It's physical infrastructure that's hosted in a data centre!

[@Bitcoinjesus313]

Have fun staying poor

[@raoulhery]

it is back by faith. Faith that the monatery system is crumbling. That's the biggest selling point of BTC

[@HuFlungDung2]

Bitcoin advocates are totally confused about where the value is. You don't 'buy' into a currency, rather, it is issued. Buying Bitcoin because 'it's the future of money' is equivalent to buying the paper that the next dollar is going to be printed on and then going around and trying to run a business with that paper before it is publicly endorsed. On the other hand, when gold is finally declared to be the backing for the next reserve currency, then it will have an endorsed value and everyone will know that it is 'genuine' because....it's already gold. There is nothing genuine about any crypto, they are all interchangeable on a whim.

[@xmonikerhotmailcom]

The US dollar is created out of nothing, thus the inflation. Check out The Price Of Tomorrow by Jeff Booth. Lots to learn there.

[@xmonikerhotmailcom]

No, cryptos are not interchangeable. Bitcoin is the only decentralized coin. Gold fails on several points such as it is not finite. In fact the largest deposit ever was found in Africa a few days ago. It fails as a standard for currency because governments always overprint more than what they own. The other issue is it is heavy and hard to move around. Bitcoin solves all these problems. Every transaction is on a ledger for the entire world to see so no monkey business with over printing if BTC became the standard. Also bitcoin is completely decentralized. Governments have zero control over it. They can ban it all they want, it lives on outside the limitations of governmental restrictions. It cannot be taken away from an owner, the seed phrase is the key to the wealth. Some great books are The Bitcoin Standard and The Price Of Inflation. Education is key, otherwise yes, it does seem like tulip mania. It is far, far from that.

[@HuFlungDung2]

@@xmonikerhotmailcom You miss the point that we don't actually have to lug gold around to use it as backing for real currency. What needs to go is fractional reserve banking. Gold backed currency always works until decoupled, that is historical fact. I don't trust anything that depends on computer programming because there will always be fraudsters and tyrants who can flip a bit and turn the whole thing off. The stated intent of a CBDC is exactly parallel to Bitcoin only the party in control is different.

[@ceecmb]

What happened to bitcoin being the new "gold"?

[@A_n_y_t_i_m_e]

Investment based on emotion and belief is not investment - it's a (religious) cult - wishing, believing, hoping. A deep rabbit hole.

[@mouisehay930]

What's with these crummy 4-minute long segments? TV is terrible

[@jsharp9735]

Do a long form interview with Bongino, he gets it.

[@roughhabit9085]

“Whether Peter’s camp is right , or whether their camp is right “ . So what, he has jumped ship has he? . Apparently he is just a neutral observer now . Smh .

[@studiouswadoo5027]

This guy peter has a huge smile on his face lmao he's starting to feel some vindication

[@alexanderp.1391]

Its been a rough decade for folks like him, weve been saying these stuff since 2007 and for years the party kept doing. Many people gave up and thought they must be missing something as everyone else just kept piling on the boom. Its a relief the stuff weve been saying is finally coming true.

[@lucrichard6778]

@@alexanderp.1391 and meanwhile you missed out on 20x gains in the market over 15 years 😂

[@mrg7407]

We have PLENTY of Gold and Silver The problem is it should NEVER NEVER be in the hands of the Government. It should be in the hands of We The People In the 60s you could buy a Chocolate bar with a Dime. in 2022 it takes $1.00. Only at the Big Box stores. Anyway a Silver Dollar is 10 Dimes and that would buy you a CASE of Chocolates in 2022.

[@wewliusevola]

Nice soundbites there for not trying to reinvent the wheel. Bitcoin is the vain attempt to create artificial scarcity.

[@mikehawk4856]

Peter Schiff was right

[@ItsMannyTime]

keep

[@ItsMannyTime]

he will always respond to you on telegram> >> *@MrDelvinMateo*

[@vatostitos]

I Am a great follower of his service, I use it from time to time on my binance

[@mystefano76]

He's honest and straightforward, my spouse and I went in with 350k from our portfolio because we were down 65% but now we're basking in profits and saving in USDT which is wise right now to recover.

[@krombacher021]

DELVIN My favorite TA Man. ALWAYS on the ball, honest and to the point.

[@CryptcsRUs]

highly respect his T/A for both targets and whichever way you lean bullish or bearish. Thanks

[@MrADTNZ]

How about Peter talks about the obvious manipulation with Gold and Silver?

[@tinkid420]

Like how Patrick has to get in that last part. Like Peter thinks anyone at the fed is wise.

[@TheHomeExpert5]

I wouldn't pay $6 for a fictional coin.

[@b4ph0m3tdk9]

Peter Schiff is always right. Do not let the lack of timing of the market fool you.

[@elduderino7767]

schiff has never been right about crypto, he is accurate at calling bottoms though

[@davidsine4390]

Peter said the Fed couldn't raise rates because of all the debt. That the Fed would be forced to surrender to inflation if they did try to fight it. Was he right about that? So far the answer is an unequivocal NO. Is that to say Peter's an idiot? Not at all. He is one of the best financial analysts you can listen to. But you have to realize his own investments and those he has made on behalf of his clients forces him to be bias. Just like any other paid for money manager in that respect.

[@elduderino7767]

@@davidsine4390 i actually believe peter is right on inflation, this fight against inflation will be reversed in record time as the damage will be too great theres just too much debt

[@davidsine4390]

@@elduderino7767 That MAY be true. When Peter originally said it, I tended to agree. But remember, Peter said the Fed couldn't raise rates at all originally. I submit that of course the damage caused by fighting inflation will be significant. But it's likely also true that not fighting it would be far worse. Reguardless, Peter, whom I have a lot of respect for, can't have it both ways. In the investment world, to be right, you not only have to be right, but you also have to be right on timing as well. 5 years, 10 years, 30 years later doesn't cut it. If the Fed reverses course with inflation still raging, then yes, gold will soar. If the Fed does what it says it's going to do, then gold will sell off or remain weak. In my opinion, the Fed will stay the course. But for some reason, that seems to be a very unpopular forcast. We prefer the Fed give up so the entire economy can fail under hyperinflation? That way we will end up being right and our gold investments will pay off? That's not the outcome I'm hoping for. And for the record, I own PMs.

[@masterphillips]

When do I sell gold? I always hear when it's good to buy or hold, but never when to sell.

[@ismardidic3505]

Excellent Peter 🎈

[@NolimitracingRC]

Peter is right

[@chrissalley9468]

I have a feeling that the second half of 2022 is going to get real interesting

[@jude999]

The youth is screwed up. Buy gold. Peter advocates buying gold not because it backs government currency, exactly the opposite.

[@masterphillips]

I'll agree with Peter on this: lots of retail investors bought into the craze because they just saw $. But the biggest piece of the divestment pie, if I had to guess, are institutional and state actors. I dont see why on average they understood the point of crypto any better, they just saw $ too. In a word, these are the speculators Peter has been totally right about for years. The only way I see crypto truly imploding though is if governments push it entirely into the black market by banning it at retail, etc. I think it's too late for that now, but I could be wrong. If more and more places start accepting it, I believe it's here to stay as more people start thinking of it as money and not a speculative asset.

[@youtubeisfascism]

Gold will remain a dream until it happens. Bitcoin will remain a dream.