We're Getting to the End of it - Peter Schiff

[@TheJayMartinShow]

For weekly investing insights - and free eBooks - from the world's best investors --> CambridgeHouse.club

[@maanmohammad8459]

This was 2 years ago and he proved to be right,again.The FED went back to QE even before the covid-19 scare.

[@Payitforward-xt1kr]

Because of peter i pulled all my money out in my 401k in 2007 and lost nothing in the 2008 crash. I did buy back in 2011 and recently sold out again in the spring of 2017. Waiting for a huge correction again.

[@Online4Investing]

Congrats

[@patarstarr1952]

Good for you buddy! Not many people are smart enough to do that.

[@toreshammerecelt861]

Payitforward2015 Smart. Very smart.

[@Mrbfgray]

Payitforward2015 You must have tuned in at JUST the right time because otherwise you'd have missed out on quadrupling your money in the markets in the last 8 yr.s....he's been a broken record predicting a imminent crash any day now like a church telling us Jesus is coming for 2000 yr.s now.

[@SmashBrosBrawl]

it paid off, we are now in bear territory.

[@newworlddoritos2955]

*"This speech was delivered at the Vancouver Resource Investment Conference on January 21-22, 2018"*

[@kevinjoseph517]

how

[@toreshammerecelt861]

Now all the networks want Peter on. He is always so gracious when they sarcastically ask for his comments. I’d give ‘em the finger. Peter is the tireless voice of reason.

[@jthadcast]

to quote schiff, "what is that noise?"

[@misty671]

He probably has the right thesis. The tricky part is timing the outcome and this is where financial prognosticators get into trouble. If he off by a few years most will dismiss his arguments even though his logic is sound.

[@Mrbfgray]

Timing is everything, he's been stupid wrong for a decade now costing his gullible followers countless fortunes.

[@hunden8404]

@@Mrbfgray He hasn’t been wrong about anything. Fundamentals are spot on. Just wait when the markets realize this inflation we are experiencing now isn’t transitory. Wait what happens to the market when the fed raises rates. If they do. Bottom line, it’s market implosion with stagflation or dollar crash.

[@Mrbfgray]

@@hunden8404 DUDE. Did you tune into Peter 10 yrs ago when he was saying exactly the same thing yr after yr.? OH YEAH, and that gold would be $4k about a decade ago too or was it $8k? Taking his advice must have cost *many* fools a fortune.

[@hunden8404]

@@Mrbfgray I did tune in. He’s still right. The problem is people buying gold expecting to get rich. It’s a hedge.

[@squishyplums2415]

When I see Peter Schiff I quickly hit the like button. No introduction needed.

[@JC-XL]

When you see Peter Schiff you quickly hit the Buy button, hi hi

[@SleekMouse]

That's a bad habit, I always wait to hear my favorite people out fully before I like or dislike.

[@squishyplums2415]

You have good patience butt Peter rarely disappoints.

[@Mrbfgray]

As long as you don't follow his advice and miss out on a small fortune as he's been tragically WRONG for a decade straight now, no wonder he's defensive. What a Bozo. hahaha

[@Troublesomenights]

Peter Schiff, you are the best.

[@Troublesomenights]

Jebus, you are the worst.

[@ouss]

peter schiff as always is right

[@ryanshaw4250]

so is a broken clock

[@ouss]

hodler i guess bitcoin at 1mil at the end 2018 OMEGALUL

[@ryanshaw4250]

not into bitcoin, into eth and smart contract platforms. its high tech, high risk investment. but its the fastest, cheapest tech out there and can do things paperbullshit and the exploited banking system cant. like be trusted.

[@robreke]

Except when it comes to investment recommendations. if you'd have followed his advice the past 10 years, you'd be negative almost every year while the US stock market would have almost tripled your money.

[@vogeltron9816]

except when it comes to how to invest

[@williemo44]

How about that inflation report though?

[@vahangood5999]

What's that noise? Lol. The guy may be right about the fundamentals of the US economy but... After spending just a few minutes on reviewing the company he mentioned, as well as few others, I saw a lot of problems. And I sure as hell won't be doing business with them.

[@VaticusChadicus]

Aren't these foreign stocks risky with their dollar denominated debt? I thought the emerging markets will default first, because of the strength of the us dollar.

[@katchum]

The Fed is insolvent when bond yields rise to 4%. Its bonds and mortgage-backed securities would plunge in value.

[@andyhepburn6855]

They'll just print their way out ;)

[@katchum]

They are supposed to reduce their balance sheet according to Yellen, which is the opposite of printing money.

[@dutch1999]

The banker in Monopoly is never insolvent. That's the Fed.

[@katchum]

I believe the insolvency will come as higher interest rates and ultimately they need to default on debt.

[@DegenerateSpeculator]

They will print and buy to keep rates down. Gold will go to the moon

[@lawrencel2544]

His prediction is correct. It's Dec 2019 now and the Fed is talking about qe4 when the Fed was talking shrinking the balance sheet when he was giving this presentation. Peter knows what he is talking about.

[@VaticusChadicus]

Do you agree with jason burack that it's still too early to pull the lever for emerging markets given the strength of the dollar right now???

[@danbuchner28]

The bubble we're in is so huge that when it finally pops, it will be a disaster.

[@mrleafbeef634]

Weimar republic 2.0.?

[@Jesse55421]

Still waiting!

[@swagmanners]

Jesse55421 here we are

[@jamesmincks3804]

End the Fed. Problem solved.

[@isawaturtle]

Learn how the monetary system works - problem solved.

[@comrade916]

I agree with much of what Peter says, however, his views on Crypto are incorrect.

[@ryanshaw4250]

most people who dont have any crypto dont understand the revolution. when i go to japan, i can pull out jpy, when i buy things on the net, i can use crypto. Bcash has just about no transaction fee and very high speeds and they crush any credit card or supertrustworthy bank. did i mention you actually make gains unlike my wells fargo deposits for 10 years which have yielded me... fees and losses with no returns.

[@yolodaswagg]

he may undermine some of the tech but he may be right that the crypto market crashes along with the dollar and stock market. People will be liquidating assets in a panic at this time especially highly speculative assets like crypto and buying into historical stores of value such as gold silver and other more stable commodities. This of course isn't to say that there isn't a future in crypto.

[@zanshin720]

Agreed Gary Troost. New generations, millennials and those of us that embrace technological change we will prefer crypto over heavy historical stores of value. Also isn't the greater portion of precious metals owned by big banks and government? If so they will still call the shots if we end up back on the "gold standard".

[@nirtlocj]

Go buy some crypt fiat if you like. I'm not interested.

[@ryanshaw4250]

it is truly high tech high risk investment, but there are so many major reasons why crypto MUST take off, and many of those reasons have nothing to do with america. what do you know about japan, korea, and chinese investors and businesses who have been selling for decades and getting screwed in the paper game.. big 3 japanese banking are pro crypto.. crypto effeciency is HUGE.. some or one of these systems is likely to be the future of money. others possibly including Bitcoin will fall.

[@WorldsHypocrisy]

20:28 "you can set up an account and transfer gold to anywhere in the world for free" - but not to yourself??? What an effing scam.

[@boogyjuggy]

Take a close at Canada as well, we are in the same mess, if not worse. Record debt levels, both personal and government, bloated governments all across the country. Stock market bubble, major housing bubble...something has to give as they raise taxes here as well...they can not raise interest rates because we will have a crash...wonder how this will play out...in Canada this all started under daddy, Trudeau Sr in the late 60's, early 70s...massive government growth, and debt...Quebec/french control over the country $$$...what a mess.

[@thundaga4005]

my favorite -economist- financial commentator.

[@jackcatalano895]

This man is a genius.

[@jjenson2006]

Not necessarily. It's just that everyone else is a moron. Everything he is saying is common sense Austrian economic theory; which is always right.

[@noseltda4685]

absolutely agree with jjenson..ron paul has been saying this for years..max keiser, friedman...many others..its just basic "real" economics... not the paul krug keynesian central bank master of the world " communist bull"

[@kevinjoseph517]

pete has been so wrong for so long.

[@noseltda4685]

so wrong?...on what?..the only thing has been timing..and ALL were wrong BOTH sides...besides that whats been so wrong so long?

[@ryanwilliams7270]

Peter Schitt has been wrong about precious metals, the market and bitcoin since 2010. So, he's pretty much been wrong about EVERYTHING!

[@jamespatrick5348]

A weak dollar should prop up exports, and decrease imports which in general is a good thing. However, at 14:27 Peter says: 'The purchasing power we lose is what someone else gains because the goods are not going to be stopped being produced'. Sorry, but I don't think it quite works like that....

[@sunking5892]

Even his economic statements conflict with reality. In 1980 US debt was 1T the 10 year bond was about 20%. Now debt 20 T the 10 year bond is 2.9%.

[@violent_bebop9687]

I agree with having a mix of investment holdings. I think going directly with another Swiss gold importer/holding company, probably better idea? There should always be an option to either pickup the gold or have it shipped.

[@AdryNT]

Commercial banks once did use gold rather than fiat reserves. But they still created deposit money through the process of lending and this still created financial instability, bubbles, and crashes. That is the history of capitalist economies both prior to - and throughout - the entire 19th Century. Gold didn't prevent any of that, or even the Great Depression in the 20th C, because it doesn't stop commercial banks from creating money as a balance sheet operation when you take out a loan, or destroying that money when you repay the principal. This causes growth, inflation, & asset price spikes on the way up, but also deflationary depressions with mass unemployment, extreme hardship, and collapsing asset prices on the way down. This is the catch-22 at the heart of free-market Capitalism: bank lending creates the money that finances the investments that create the growth that requires a larger money supply (i.e. to facilitate the additional transactions). But, in order to prevent the rest of the economy from being blown up, or at least heavily distorted by the speculative frenzy generated through commercial bank money creation, commercial bank lending must be heavily regulated. Otherwise it's too easy for any bank or credit union to print more money in the chase for higher profits simply by increasing its lending activity, which then inflates bubbles in the sectors where they lend heavily (e.g. real estate). See the charts labelled "Household Debt and House Prices" and "Change in Household Credit and Change in House Prices" ("Debt" in $, "Credit" in $/year) for the USA, UK, Canada, Australia, or just about any advanced economy in the following data: www.profstevekeen.com/data-on-credit-employment-and-house-prices/ Some (e.g. Japan, USA, UK) have been through a bubble & already crashed, while others (e.g. Canada, Australia, S. Korea) are headed for a crisis in the near future. It isn't just the USA. This is a global feature of Capitalism and gold isn't the answer.

[@JC-XL]

I like the idea of this GoldMoney service - to have an account in gold and spend fiat based on the spot price at the time of spending. However, my biggest concern is that in a serious crisis governments can make it illegal to own gold/silver and seize such reserves, so all customers will just be compensated with fiat at the time of seizing or even earlier.

[@dutch1999]

Exactly. They are centralized so government could freeze their assets and take your shit. They can't do that with cryptocurrency that is decentralized.

[@comrade916]

Gold and Silver are a store of value.. Crypto will be the store of value and payment system..

[@JC-XL]

Yes, only real protection is physical gold/silver safely stored in own property and crypto in own cold storage wallets.

[@michelvandepol1485]

To me it seems the fed postpones a nightmare

[@MrJoelkowalski]

His gold trading scheme isn’t as good as bitcoin though... so why?

[@gb1984yt]

Question is not if but when. Also the real question is how bad is the next collapse going to be,1929? If it does get like this then what's all these people going to do who never lived like their great grandad did? Also I think crypto currencies are just one big bubble in themselves,this is because computers need electricity to work,so if it gets bad then how can you run bitcoin on 3 day week brownout/blackouts,we had these in Britain in the 70s recession

[@terri4340]

Can someone answer this for me? Why do I keep hearing get out of the dollar when on the other side, I'm told to have at least 6 months to a year for rent, etc...?? I don't get it? Thanks!

[@SleekMouse]

As much as ur savings as possible should go to long term stores of value outside the dollar. You still will need to pay rent likely in the future so if you can hold 6 months of savings in cash to pay these expected expenses if you can. There is a contract and your rent for example won't change before that lease is over. This makes it predictable regardless what happens to the value of the dollar.

[@stoicprimate4933]

The "buffer" isn't investment. If you hear "Get out of the dollar" that's advice for your investment portfolio.

[@Fifi_48]

Is a residential rental investment property with a 30-yr fixed rate mortgage the type of investment that does well in an inflationary period?

[@johnrobinson4445]

It always seems to take longer than you expect. Then the move comes.

[@Learner5555]

John Robinson wen ppl are bored of looking n lax.....boom

[@toytrain2355]

Curious, the money is starting to move into metal and cryptos. Is this smart money?

[@pinkfloyd111]

In the next 100 years time will come when he will be right.

[@heathhamrick8819]

The dollar is going to fall or crash against what currencies?

[@billdipperly6079]

Peter Schiff is the GOAT

[@peterfarmer7768]

Back in 2008 GOLD was worth more than now ,the Gold chart from 1973 to now is looks like exactly like the bitcoin chart but the gold chart is for 45 years and the bitcoin chart is only 9 years

[@jaghad]

Peter is spot on. He knows economics. However, mania is impossible to tell when it ends. Understand this, Japans national debt to gdp is 200 %. What says that the US can't have the same relation. Timing this is impossible. Peter's been wrong on the markets for a long time.

[@pwregalado]

He is already positioned in gold. So he promotes gold. I don't think he fully understands crypto and the powerful affect it will have on the world through decentralization... There are plenty of crypto currencies that can be used to buy coffee to convert bitcoin for next to 0 fees. Shift and bitpay debit cards automatically convert btc at the exchange rate for very low fees. Centra already has a partnership with MasterCard. Lightning network is coming to BTC soon. Brazil, Venezuala, Ghana, and Nigeria can now exchange their inflated fiat cash directly for crypto. Smartcash pays dividends for staking your coins in your digital wallet... Smart contracts, AI transacting data on blockchains. There are even Cryptos that are already backed by gold but much easier to transact with because of the nature of blockchain. Crypto is the future of money and it continually keeps proving itself. Once Robinhood's crypto service launches... it's game over, all your Google, Amazon, Apple, and Facebook stock value will flood into the crypto market. I don't think he's wrong about the dollar and its collapse, but he is definitely wrong about crypto.

[@azmike1]

Pretty darn logical. Glad I listened.

[@ShutterEmotions123]

Hmmmm! Nearly 2 years later and the markets are still running strong.

[@tuckyvlogs2869]

The markets not running strong its running on a printing press and interest rates that are dropping when they’re already at record lows

[@frasersamuel2867]

Schiff is highly articulate & his knowledge is impressive. Basically much of the western world has unsolvable debt problems including: the us; europe; japan; & the chinese government. There will be a massive world wide depression

[@James-mw7zv]

He is wrong about the dollar. It has risen all year and killed my international stock fund. Also my gold investment

[@Meditatum101]

It's so gangster: "yo, here's my fucking credit card. 1.5k, gold plate master card bitch. What you do? I make money for my clients."

[@shadeblackwolf1508]

The big issues are america spending 50 cents of every tax dollar on military, a zero profit earning, and the problems in the job markets, and the wealth inequality are gonna be a desaster

[@dalamar1035]

Negative interest by fed will be the back door to the tax deferred 401k slush funds just like how government came for the social security they coming for that 401k because the true fact they have padded it with free tax haven and pretty sure any other tax free issue over coarse of peoples lives is in the cross hairs. Please people figure it out the Danish even said in a 3 part graph of the demographics of people who you can target with out scaring everyone to pull money out so the powers to be had 3 years if not 6 to figure out the issues and the legal ramifications to do it and they have the blue book print of the plan just need a crisis to implement it if all the laws are grey. Ron Paul said it best people when governments get desperate they do desperate things and normal moral issues get tossed to win to keep the status quo.

[@isfk]

"We're Getting to the End of it" - Peter Schiff (for the last 30 years). If you cry wolf long enough, eventually you'll be right.

[@xDDufiosy]

When wasn’t he right about our economy? The markets confidence comes from ignorance, not understanding. It’s fair to cry wolf when it’s lurking right in your back yard. But if the wolf is patient or the people are stupid you sound wrong.

[@fredsaid4002]

The world according to peter? a load of SCHIFF.

[@spoonkiller_actual]

So he is saying the dollar is going to tank at any time so you should convert as much as you can to gold... and you can buy that gold from him in exchange for your dollars...

[@stlmostwanted25]

Absolutely brilliant!!! I think your making valid points. I'm in sale, people buy from people they know, like, or trust!!! Do you think the world likes, knows or trusts Donald Trump? I don't think so! I think the bond market will have trouble on foreign side. Don't know about the USA side they could rally but that might be 50/50. I don't how much I even like that idea either. I'm in my 30's, I wish I would have heard of you much early! Thank you for what you do!

[@joetrucker6823]

Peter isn't wrong. He wasn't wrong in 2008 I watched him get laughed at and he's not wrong now. We can handle 40 trillion in debt no problem.... I work for Norfolk Southern and it's extremely extremely miss managed I apply that same experience to our government. Management doesn't care and they only want what's in it for them no thought process what's so ever. Business as usual

[@danielobrein6496]

both Holter and Sinclair who have never given a date on the collapse have said collapse by june

[@randlemcmurphy2896]

Gold silver bitcoin litecoin

[@ouss]

bitcoin spammer spotted

[@jowoo7237]

I agree. I'm invested in silver and Litecoin near equally

[@randlemcmurphy2896]

Yup. mostly silver and litecoin for me too

[@randlemcmurphy2896]

Teringventje I guess we’ll see dum dum

[@randlemcmurphy2896]

Teringventje how could you not put a little in crypto just in case

[@KennedyFinance]

You were getting it all right, but then you brought up bitcoin. -Phil

[@MrJoelkowalski]

Philip Kennedy agreed. I think he’s a smart guy but he has bitcoin wrong.

[@udopfeiffer]

Thing is he is trying to sell Gold and probably sees Bitcoin and Crypto as competition.

[@jowoo7237]

Yep yep

[@MrJoelkowalski]

True that, maybe he has a lot of gold to unload after buying in the lows and is getting frustrated that bitcoin is stealing the thunder.

[@simonasvaitiekunas5326]

He never gets anything right. He os speaking same shit for over 8 years now and noting happens.

[@jonathanx206]

This brother is incredibly brave and insightful. If only people listened...

[@nikeydog3]

feds are printing money n exchanging it for stock n timing such to fund massive gains in options, puts, n holds. This heavy buys n sells destroys dollars used but equity gains great.

[@dan020350]

:) peter will always be a good salesman

[@stoicprimate4933]

I'm not HOPING for a dollar collapse, just preparing for it. I don't know that Peter is hoping for one either. I don't mind an evangelist preaching hellfire to me, so long as he does it with tears rather than a smile. I think Peter is still on the tears side.

[@DonVoghano]

The dollar cannot collapse the way is suggested so long as it's reserve currency. Gold and crypto can't really play that role and no other currency can compete with the dollar. If interest rates rise all you have to do is inflate accordingly to keep payments under control. Not saying there won't be blood, just that it can't currently lead to a total dollar and US collapse.

[@starkaim]

Why even get into debt in the first place? I think it would be wise to never be in debt and just save and invest and accumulate wealth in the long run. Right?

[@kevinjoseph517]

3.30 he says 'everyone'--wrong.

[@olsmokey5256]

Pretty smart Dude I think

[@Gioxtream]

Amazing

[@SchaefStudiosLLC]

How much did Gold Money pay you to push their stock?

[@livingwaterutube]

Peter makes a lot of sense, I can only guess he at "mensa" brain speed. But he thinks ahead so much his timing has been off. His company promotes Euro/Pac not USA, so no gains in S&P for his clients, and thus loses clients. He needs someone to counterbalance himself in his org and challenge him as he isn't always right in the short term and that costs him clients. Timing matters, politics, geopolitics, etc.. matter as well. He's probably right though...!

[@earlpierce7173]

The reason the economy crashed is because the mortgage market was inflated with big loans at high minimum amounts (25,000 in my case) at low introductory (adjustable) rate. After a while, the Fed raised the rates higher and higher which caused the adjustable loan rates to rise. My loan got up to 9.5% and started at 2%. I could barely afford to pay the interest alone after the rates went up. That is what caused bankruptcy. No one tells the real story of the crash. .which was either ignorance of the Fed and greed of the banks. . Or it was intentional.

[@cmteflavio]

They wont raise IR!

[@Learner5555]

Flávio Miranda yupppp

[@returnfreerisk7493]

Gold needed IOUs aka debt based currency to function as a medium of exchange. I wish it didn't fail but it did. Let's get behind cryptocurrencies they have a reasonable chance to disrupt the current system.

[@MrChadwke]

CPI is up 0.5 and the market is reacting. It begins.

[@raphaelclarke1964]

Currency from its inception is at its essence an instrument of power...Standby For. Digital US Govt Digital Dollar...One Digital Dollar to Rule Them All

[@thebigdr3060]

Nobody WANTS him to be on point. Question is...what if he is right? Many prescient analysts agree. The sky has not fallen...yet. Does not mean it can't fall.

[@bradw2k]

Yes we are getting closer to a currency crisis. But keep in mind that Schiff has been calling for high inflation for over a decade -- and is still yet to be right. ;-) I certainly wouldn't bet against fresh LOWS in T-bill yields when the next recession hits.

[@nohopeequalsnofear3242]

peter, gold is bitcoin. its dumb money.

[@kevsip1002]

Does anyone know what KITCO even is? Please cash out your stocks and buy gold NOW!! I need to get out of gold at the highest price.

[@zanshin720]

New generations, millennials and those of us that embrace technological change we will prefer crypto over heavy historical stores of value. Also isn't the greater portion of precious metals owned by big banks and government? If so they will still call the shots if we end up back on the "gold standard".

[@jthadcast]

it's all fiat, pick your poison the economy is a game not based in reality ... ever.

[@killerrf]

Adam Harrison they said we peaked in oil when 50s?

[@sond3r68]

With all that hyperinflation coming for the dollar I really fear they might do something stupid.... They'd still have a lot of fire power and nothing in the bank account. Sooooo... what does a broke bully do?!

[@reefkeepers250]

You are wrong about crypto. Especially Bitcoin. Yes its had a major correction, but yet the millions that are being spent on infrastructure is going stronger than ever. You would be wise to put your gold shares on a blockchain.

[@nohopeequalsnofear3242]

i like peter, but i would never invest with him. buffet has 116 billion in t bills, wonder why? peter your wrong about treasuries. where in a bubble. get on the fence, out of the stock market

[@daponyrn]

Go Bitcoin

[@burdickd2]

daponyrn: F**k Crypto-currencies. Just more fiat trash.

[@robert4you]

I bet Bernanke and Yellen are behind those black curtains... listening. Something is moving there...

[@zonechaser1]

This is a sales pitch

[@JensHove]

That doesn't make what he says wrong.

[@robertkelly9772]

It might not make what he says wrong but credibility goes way down when you find out he stands to gain on what he espouses. This guy's a snake oil salesman like all the rest of these youtube bloggers.

[@jowoo7237]

You can totally tell it was a sales pitch when he started talking about crypto and then slowly more fit into goldmoney.com and his Euro Pacific capital investment company. Down talk the competition prop up your company.

[@swvaroot]

. . . . and a free education worth more than a Yale Ph.D .

[@temshasanaie2478]

zonechaser1 yes yes thank you!! So shameless!

[@zeketorres9257]

When my daughter grows up, she wants to be just like president...

[@tosgem]

Yeah right. Doom doom doom, gloom gloom gloom, scare scare scare. You scare tacting old SOB, nothing you have to say is accurate. I will be investing today in US bonds with no fear.

[@Badboy3951]

Tell us when your shitty house defaults, so I can come buy it and turn it into my ping pong room.

[@paulstill511]

Peter Schiff talks some sense. However he has predicted a crash for a decade; its not happened. He has advised to buy gold; which has produced no ROI in a decade, and keeps predicting Bitcoin to go to zero; this has so far failed to happen. As i said, lots of good info here, but plenty of poor stuff as well; his advocate of buying Gold has been the worst advice.

[@cryptocourtois5026]

Bitcoin offers the largest margin right now. Ride the way until the U.S. dollar crash, then sell your Bitcoin and buy back in when Bitcoin goes under 1K, then ride it back up again.

[@kevinshapiro5172]

Peter does not make any sense. Has been describing the immanent currency crisis for years, but doesn't recognize that cryptocurrency is a reflection of the currency crisis and has become a new industry because of it.

[@deanhettig1920]

I disagree with him about bitcoin

[@deanhettig1920]

Teringventje do you honestly think that as the world becomes more technologically advanced that we will be using gold as currency? The internet is the future and to think that gold will be able to compete with bitcoin is delusional at best

[@ebrelus7687]

When dollar will go down but for now it is yuan which gets the bitting and chinese stocks are one thats crashing hard. It is not like USA can have problems independently - they have tools to make others suffer as much badly... or worse... Look at EU it's completely unintegrated bunch of different economies and a failed currency... look at China, their debt is also huge, lowwer and their economy growth also dependant on credit. They produce cheap because of credit put into improving production capabilities - but without customer who will buy it? Who will they sell it for if their credit sources will shrink? We see just a start of unwinding it in China. China doesn't have a global currency but their own controlled one nobody wants to use... EM countries will decide who will win being customer of the last resort...

[@rl3149]

The problem with this video and ones like it are this; it’s common sense. The world economy doesn’t seem to have anything to do with common sense. This rhetoric has been going on for quite a while. Will anything actually happen? Either way, I’m stacking gold and silver - just in case.

[@GNULinuxGuy]

Bitcoin is the proof of concept implementation. Something like it, but with stronger fundamentals will likely displace it. I agree with most of what Schiff says, but he's in no position to tell us what cryptocurrencies can and cannot do. Take a look at the Dash (Digital Cash) project for example. Extremely low cost instant permanent settlement, strong privacy options, incentivized full nodes, etc, all done in a trustless decentralized manner. Some truly game changing stuff, especially with the releases that focus on user experience coming this year!

[@heww3960]

2 years later, and no end of it yet.

[@polsyg6581]

whats wrong with social democracy, or as bernie calls it socialism?

[@smsmoof8128]

What is ... you run out of Other People's Money for $1,000 Alex.

[@turke6756]

Hey you can’t buy coffee with BITCOINS because it’s slow not too expensive

[@adamrose5690]

A casual conversation about currency Armageddon.

[@llamasarus1]

I like Peter I just wish he would stop predicting

[@goldminerjames]

Marin Katusa’s top picks from VRIC 2018 are a joke (IMO) - www.pennyminingstocks.com/marin-katusa-top-picks-vric-2018/

[@1Skeptik1]

Peter gets the details right but his cry of the collapse just doesn't happen.

[@ryanshaw4250]

him and gerald celente debating this years big crash is like the NYT and washington post debating trump. and all 4 are wrong.. so far...

[@atishp11]

He's telling us a very realistic scenario, however i think he's underestimating the power of cryptos!. Point is right on in regards to bonds, USD dollar fiat currency collapse, he's correct with the fed raising interest rate. all good stuff. But , because he's a life long lover of Gold his comment on crypto is invalid and not to be taken seriously. long live CRYPTO!!!!