Thank you, Peter Schiff, for doing it again! In my opinion, I'd say that the world's slow response to America losing its status as the reserve currency is the only surprise. Note that a weak dollar can signal an economic downturn, making me to ponder on what the best possible ways to hedge against inflation, and I've overheard people say inflation is a money-eater. Making me worry about my savings around $820k

So, my concern is: Should I continue to save in US dollars or should I transfer all of my savings and emergencies to precious metals?

Investing in various sources of income that are independent of the government should be the most essential thing on everyone's mind right now. especially in light of the global economic crisis at the moment. I have $560,000 sitting in savings searching for the best method to enter these markets. This is still an excellent moment to invest in equities, gold, silver, and digital currencies.

gold and silver would be much higher than it is, but thanks to all the paper out there that's not actually part of the market is keeping it surpressed.

Thank you Peter. You have saved my family from financial destruction with the info you’ve shared over the last decade and a half. ❤️

Why do people make us wait for their videos? I understand waiting for a live video but if it's not live then what's the point?

It's difficult to take this interview seriously.

We tried gold backed currencies with the dollar, it didn’t work. We have learned from history that we can’t trust the gold audits. So this gold backed crypto currency would be no different than the dollar. Ironically Bitcoin would be better in this regard, there is no need for audits, no need for third party custody or trust (the blockchain provides this). And it provides the cross border portability that any other currency/crypto provides. That’s the value of Bitcoin. And to the proposition that gold has more intrinsic value, I beg to differ. The vast majority of the value in gold is its perception as a monetary metal. Without that, the price of gold would be similar to any other industrial metal. The value in gold is in its perception, just the same as Bitcoin. Only Bitcoin is infinitely divisible, cryptographically secure and audited, and there’s no need for transport/vaults.

Peter Schiff is at it again, thanks!

i love this guy for telling the truth

If you melt gold it stays gold. If you burn cash it vanishes. Bitcoin if you loose your keys or password can't get it back.

Not without redeem-ability. Trust is shot dead.

It is also worth noting that an increase in the quantity of gold is different from an increase in the quantity of a baseless currency. Gold is a commodity, so if we have more available gold, we have more usable resources, and the standard of living increases. If you increase the supply of fiat dollars, you distort economic signals, but dollars do not increase the standard of living. The minimal amount of inflation that results from gold mining is not a problem for the gold standard. Prices are never set, we never know the future with certainty, and the economy is always dynamically changing.

Whose idea was it to have distracting music playing through the whole segment with a distracting light show in the background?

What is the most distracting thing we can do during the interview, yeah lets give people epilepsy and continuously play music in the background

This video is like a libertarian acid trip

Crypto theft is quite common these days!

No one running crypto wants to tie its value to anything, much less gold. Tying crypto value to a hard asset would immediately and continually reveal the froth. By the way, the background music/noise in this video is exceedingly annoying.

Wow..that background was so distracting I had to wait until it was over and just listen to the interview.

The thing that cryptobros don't get is that they think fiat's only problem is supply and by decentralizing it its supply is guaranteed through algorithms. They fail to see that in decentralizing it they remove a crucial aspect of why it has value, the confidence and fear that comes from the government that backs the fiat currency.

Kill the music and background graphics….too distracting!

Peter Shiff understand what is going on simply nothing backed by gold is ponzy.❤❤❤❤

So why does Peter accept payment in bitcoin?

cant watch because of the non stop music.

If the currency is fully auditable ( blockchain) as in every note/unit what government would accept that as they could no longer create money when they need it?

Now this makes sense

Let’s call it Bitcoin.

So the Chinese Digital Yen which is Gold Backed is worth investing in.

Oil backed digital and paper money is our present!

Uncle Peter is in 😮, no one else is left 🎉

Thanks, Peter Schiff! Your argument is compelling!

Very good interview

Problematic to consider eGold as backed by real gold....if that gold is actually held by others. Unless the amount of real gold is held on blockchain as an immutable volume? And added to...as confirmed (confirmed by whom?) new gold is mined?

what Peter describes with his painting and ordinals is exactly the problem gold has : - the global supply of gold is not known... - the pure and counterfeit gold is not known... - the paper gold (promises to deliver gold which may not exist) is not known... hence bitcoin which solves these issues... ( global supply known and verifiable, purity is not an issue, counterfeit is not an issue, paper bitcoin is less an issue because it is easy to buy and to hold guenuine btc )

Zero counterparty risk is a big thing to give up with respect to gold.

Thanks to Peter Schiff, I’ve avoided buying a house, investing in crap stocks and understood what true money really is!

Gold needs paper gold (or tokens) to be more efficient. But backing on something physical can ALWAYS unfold. That's different for btc certificates on LN backed on btc, it's 100% backed by design.

Imagine Michael Saylor the richest man in the world !!!!!!!!!!!!!!!.

Peter was the first to call the Bitcoin scam back in 2012!

Paxos started this in 2019 and have been getting hit hard for unknown reasons

Okay maybe this is a dumb question but isn't crypto backed by energy since the blockchain runs on it?

Gold is the most trusted value of exchange all over the world ...Dig a hole and find a box with old German paper money with some old gold coins ..You will discover the difference

Typically, we witness certain stocks rise this time of year, but due to the recession and economic situation, that's unlikely now. I'm holding a lot of stocks hoping for profits this month, but I'm uncertain whether to keep holding or sell-off. Since Q2 2022, I've been experiencing losses, and the outlook for investors in 2023 doesn't seem promising.

Nothing that gets rid of "physical" currency is good for the people. Anything that is back by gold, silver, copper whatever needs to be physical because physical currency is freedom for the people.

Why not on ordinals. On the most secure blockchain

Peter, it's call the BRICS currency.

Hes got a point.

The dollar is over and the paper money is over

i appreciate the commentary, i really do. but whoever added the music needs to reevaluate

awesome

What a fantastic ending! Yet another great interview with Peter Schiff!

If we characterise Bitcoin as a virtual or electronic fiat currency....we have to address a central point of Bitcoin proponents....That it is dislike Fiat because of its limited nature and the lack of a middleman to debase transaction abd affect tryst.

Well backed by gold or tabacco. Let’s not forget that fiat currency started out as tobacco certificates.

Makes perfect sense. Bitcoin is DIGITAL FIAT. We need DIGITAL GOLD, which is obtained by connecting Gold to the blockchain.

There is a gold backed block chain thingie - tally money

Bitcoin: the investment for today's hard charging go-getter, securely nestled in mom's spare bedroom playing Xbox. 😂😂

Has gold outperformed Bitcoin since 2009?

To say something is going to happen in the future is impossible to disprove. It is a Messianic movement. Another myth is the free-market economy/oconomy.

“If you don’t hold it you don’t own it!”

It is called goldcoin.

Thanks Peter, now I don't feel so bad anymore for having some % of my portfolio in BTC. 😁👍

yep. and undigitized gold will be outlawed.

Why do you need a blockchain for this? You already need to trust the custodial provider of the gold so what’s the point of holding the token for the IOU yourself when that could just be held at the custodial provider just like the underlying asset is? It just enables people to misplace their IOU.

That music makes this video unwatchable

Peter Schiff says I can include some Bitcoin in my portfolio! 😂

Peter, you goof, the ONLY value gold has is its scarcity, the Value in Bitcoin is in its MORE strict Scarcity than gold will ever be. More gold is mined everyday, and the supply grows. Bitcoin is far more scarce than gold and limited to ever mining more.

$LINK

Come ooooon ...your out of present and future ....bitcoin is store of value 10000%%%

Bit coin only 21 million. Fair enough. Now what about 100 million dog turd coin, and a billion Biden coin? Where does that all end?

the irony... the biggest crypto/bitcoin crytic is now arguing in favor of gold blockchain crypto

So now he has shifted to PaxG

Bitcoin, the digital pet rock.

*says bitcoin has no fundamental properties that give it value*…*proceeds to praise block-chain technology and thinks it should be utilized*. Peter would say the difference is that gold has useful qualities outside of what makes it a good store-of-value, yet the demand for gold in the physical world because of its industrial purposes supposedly isn’t similar to bitcoin/blockchain technology in the information economy? Google, Meta, OpenAI, etc prove that physicality had nothing to do with value in the modern economy.

AZMN3T is not just about speed and low fees. The most important thing you missed is it’s scalability!! So it is fast and cheap yes, but that’s not where it wins. It’s infinitely scalable. Get your head around that! That’s why it’s a game changer.

I really like to listen to Peter and try to watch most of his podcasts but boy, I feel he is so wrong when it comes to Bitcoin and it's role for future money.

Peter converted and doesn't rven realize it. Lmfao

Digital currency backed by some tangible assets would make a strong case!

Bitcoin solves the problem of custodians inevitably rug pulling you. Monero solves the problem of government knowing your entire bitcoin financial history because it's a public blockchain.

👍👍

This video will not age well.

Peter Schiff at last has realized the strength of Bitcoin..Hopefully

I will wish you a good luck sir, please just show us how you would stick a gold bullion into a CBDC, digital currency exchange? Magic??? Wow huh?

🧠

Second!

Both gold and Bitcoin are proofs of work. Their value comes from the energy cost to obtain another unit of account. Bitcoin solves the trust problem with gold backed anything.

Mr. Shiff is slowly flowing into BTC. His 1% allocation suggestion to BTC will just keep going higher.

More psyop propaganda. In regards to precious metals, if you don't hold it, you don't own it, everything else is just derivatives they can use against you in the casino.

Your money given to Bitcoin or Crypto is much worse than your money put in gambling at Casino. At least you could win some money by chance at Casino. Your money given to Bitcoin or Crypto is all controlled by few individuals like the Bitcoin creators and promoters. They can trade each others under the table and do all kind of tricks you can never imagine to manipulate the prices up and down. It’s also very costly to operate the Bitcoin or Cryptos like spending in salaries, advertisements, facilities, equipments….. but they don’t generate any income, just waiting other people to contribute more money to the pool. It’s clearly a modern Ponzi Scheme covered by hight-tech.

The limited supply of bitcoin means that once they are all mined, they can't be mined any further. The Sitoshi argument is flawed. There's a finite number of Sitoshi's just as there is a finite supply of bitcoins. And the ratio between them is constant. With gold, what's the difference between counting ounces or counting grams or nano-grams. Does that mean that there can be an infinite quantity of gold? No, it merely allows for fractional amounts of gold, just like with bitcoin and fractional amounts called Sitoshis. But unlike bitcoin, gold can always be mined as there is no limit, and with new technology, it might be possible to mine 2x the amount of gold on the earth, or we could find it in asteroids or on the moon. It might not hold its value for even 100 years, if the space programs makes off earth mining possible. And it is possible, though not yet today, to turn lead into gold, you just have to change the number of protons and neutrons. After all, it stars can turn other elements into gold, one day we may have the power of stars in our hands. Some of the value of gold is speculative, some is it's value is its use as a metal. But it's pretty much impossible to know what percentage is each of these two demands. Bitcoin is also partly speculative (perhaps mostly) but as long as there's demand for it, it's got a use as a store of value as well. If a replacement for gold is found, gold might lose its value as a metal.

Peter is, unfortunately, absolutely CLUELESS about technology in general and Bitcoin in particular. You can tell by watching his podcasts.

Blockchain and gold are mutually exclusive. If you have gold, a blockchain serves no purpose. If you have a blockchain, gold serves no purpose. "Blockchain-based gold currency" is like saying oil-based corn contract, or corn-based oil contract, it's a nonsensical concept, it's a solution without a problem.

One day peter will learn what a blockchain is and what a blockchain does, so let's help him now... Peter, a public blockchain SOLVES the PROBLEM with centralization by making it decentralized, which means trustless, secure and censorship resistant. A centralized private blockchain ISN'T secure, trustless or censorship resistant, in fact a data base is better than a centralized blockchain because it's cheaper, faster and more efficient

At some point Schiff will be forced to recognize that gold is not even close to BTC as a store of value in a digitizing world.

Show some courage and launch a token backed by gold. You talk too much

Sure we can be in ready player 1 but there is no guarantee that that world will be run on bitcoin or on some other crypto or by some fiat currency. Games are purchased and have purchases made in dollars all the time and it is the game designers who decide what payments they accept. Most game designers want money in the end. Everybody wants money in the end. Bitcoin can be used to send large transactions across the oceans. Yet stable coins do that better.

It'll be the best money.

4:04 "There's no real demand for bitcoin." Are you freaking kidding me? I'm sure everybody using bitcoin will suddenly just give up all the revolutionary benefits we've been enjoying for years. Then we'll start using a blockchain-based gold reserve currency. That makes perfect sense because all us crazy crypto people hate tiny fees. We hate incorruptible money. We want to trust a gold company and the government. We hate peer to peer transactions. We want the government to block our blockchain-based gold reserve currency transactions. It wasn't fair when we were able to donate to the freedom convoy. The government should have blocked us. Just like they blocked all the GoFundMe donations. We hate irreversible transactions. We love when banks step in and reverse whatever transactions they want. Now the gold company can reverse them too. We hate how our money is perfectly safe during a bank run. We were jealous when everyone else was panicking while banks were failing. We want to panic when more banks inevitably fail and our gold is really in danger. And there is absolutely no way to get to it. We hate how the government can't seize our bitcoin. We want them to be able to take every ounce of gold whenever they want. "There's no real demand for bitcoin." Sure Peter, sure, whatever you say. I'm sure everybody believes you. HAHAHAHA!!!

AZMN3T is bulletproof tech built by absolute all-stars

love AZMN3T, my second largest position, will DCA every month and holding till the 2030 bull, my advice aim for 30 plus and sit on it long-term, think of it as buying btc at 1$.

Our government has no idea how people are struggling right now I feel compassion and pity for our country, I appreciate Vilma you've helped my family with your advice, Imagine investing $2,000 and receiving $8,650 in one week.