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Peter Schiff Expressed: The Q3 U.S. current account deficit “unexpectedly” surged to $214.8 billion, a 15-year high. The extremely weak U.S. economy now depends more than ever on stronger economies abroad. The current account deficit will explode to record highs in 2022 as our debt service costs soar.
Community Response: No one cares about gold, Peter. You are early. Average guy wont figure this out till a crisis hits.
Having food and shelter in times of crisis is usually most important. It won’t be Bitcoin that is used to buy these things during hard times. That bubble will be exposed for its weaknesses.
I buy food, property, jewellery and pay bills with Bitcoin. Let me know when real crisis is at your front door. Perhaps your taste in jewellery will change by then.
Are you a doomsayer? You’re watching too much Walking Dead. Maybe my jewellery can buy me some bread and meat to eat.
Imparting more wisdom, why will debt service costs soar? Curious about the reasoning.
I plan to buy an ounce of gold next month. Thank you for more facts proving how awful our economy is and despite this and the absurd notion of a hawkish Fed, gold fails to hold any gains.
That too doesn’t seem to be helping gold. Yesterday: market down, gold down. Today: market up, gold down. Tomorrow: market up or down, gold down.
Gold is one of worse performing assets of the year. If the US ever loses, its ability to pay for these imports with counterfeit money, it’s game over.
Why do you think we have military bases every 5 miles around the world? To ensure the dollar remains world reserve currency. China will end the $ in the next decade. And yet gold is dead in the water as an investment/store of value, no matter how much you try to fight it.
Bitcoin is a trustless monetary network with superior properties. If you think bitcoin’s global, rapidly growing network adoption has no value, you are in denial.
Funny. If that was true, foreign markets and currencies would be leading. Instead, U.S. Stocks and the Dollar are outperforming by a huge margin.
Eurodollar futures market are telling us that money conditions are getting tighter, economic growth is slowing, inflation will not last, and a potential recession is on the horizon.
If someone is an early adopter and he/she can’t get the benefit, because I think timing is everything. That’s how they always have the advantage. A Normal Guy won’t understand until crisis/disaster hits.
Next market pop will be spectacular. I still expect a leg up before the doom though. Based on the issues, we have it seems like Gold shouldn’t have a single down day but reality seems to be much different.
Unless the fed backs off and keeps interest rates near zero forever, then debt to the moon.
And Gold hasn’t moved. Proving it is no longer a store of value and highly manipulated by the central banks. Buy Bitcoin.
On the other hand. It also proves the point that the world still wants dollar. And so far, these numbers aren’t bothered them.
And, this Quantitative easing and interest rate hikes means a worthless dollar. Bitcoin will be up 50% by the end of 2022. Where will gold be. Ahem, you know, what shite you shill to your ‘investors’?
