Peter Schiff Shared: Investors are so confident the Fed will win a fight against inflation that even when gold rallies they’re reluctant to buy gold mining stocks. Not only would the Fed lose such a fight, it may lack the courage to even step into the ring. The consensus has never been this wrong!

Community Response:  You’re right about inflation but wrong again about the appropriate hedge.  Bitcoin is Gold 2.0.

Do you view Bitcoin as an asset or currency?  In its current form, a store of value asset. I would be happy for it to remain in that state.

Interesting! As a currency it could possibly help solve many of the problems Mr. Schiff is concerned about, effectively removing the Fed from part of the equation.

Possible yes, but there are more appropriate cryptos for the job. Possibly, also Bitcoin in combination with government issued stable coins.  Let’s get the immutable store of value figured out first.  Once the world gets that it’s game over.

Good point, I find El Salvador as an interesting case study.

Hey Pete, if I were to buy gold 10 yrs ago, how many Xs would have I scored now?

If all of you own Bitcoin and none of you own gold, 1) What are you even doing here? 2) You are in a crowded trade, if you have to come here to express how much you loathe another asset that you claim to be a better version of. 3) And, this is the vital point. Peter is rich than you.

PeterSchiff will be proven right within 6 to 12 months. He will be very right.

But Gold keeps losing investors’ confidence not the Fed.  Balances across exchanges of BTC is shrinking every day. More wallets now with .01btc then there was 60 days ago. BTC is fine.

Dear Mr. Schiff. Have you heard of Bitcoin? It fixes this.

They are reluctant because the return on investment for the past 10 years have been 0.

Not if you were invested in blue chip miners. Has been 10 years of consistent dividend growth. A lot of miners out there mining at $1100 ASIC even at $1400 there’s still a lot of meat on the bone. Most have 0 debt.

I agree but am losing faith. The ability to print money and inflate values can go on for a long time. Is Japan a good example? Enjoy your stuff Pete!

You can be right but still, lose money. This is the market. Capital talks.  Eh, what rally? How much would my 2011 gold investment be up now?

2011 was the start of the cup 2022 will be the end of the handle transitioning to moon shot.

Those 10 years are a massive loss, opportunity cost wise. not even accounting for inflation (which ironically it should protect you against) That is all there to it.

Honestly, I don’t buy GOLD because it is boring. It doesn’t seem like its capable of giving me any good return on my investment.

Peter, I appreciate all of the Econ knowledge. You really opened my eyes in 2010 as I was trying to understand what happen to our economy. I bought all yours and your father’s books, I invested tens of thousands into gold and silver, convinced my family and friends to do the same. 11 years later I wish I had done one thing different. Bought Bitcoin instead.

I’m listening to you Peter. You are one of the few voices that has been consistent and right. Not sure when the markets will wake up but I’m buying more miners every two weeks. These low prices are a steal.

The Fed is enjoying huge credibility now, as he whipped inflation with mere “words”, followed by Tapering. And U.S. stocks are now within 3% of new highs. Powell is an expert at walking the tightrope, he can pivot any time.

Curious though, totally agree with you but why never mention the paper market manipulation? You know it’s happening. Question is: Is there anything that can stop it and if so what?