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Peter Schiff Shared: It was just announced that electricity rates here in Puerto Rico will be increased by 18.4% in the first quarter of 2022. If you think inflation peaked in 2021, price increases like this certainly suggest otherwise.
Community Response: Peter Schiff left a long trail of false bitcoin predictions, will keep luring people into thinking that gold is still the ultimate safe haven asset. With raging inflation shaking the world, now would be the time for gold to shine, instead, the sun is setting on gold.
Daily reminder that electricity is a better store-of-value than gold is. And the best way to cryptographically store the value of electricity is via HODLing Bitcoin – digital energy. Right, Saylor?
I’m willing to wager that you moved to Puerto Rico to avoid having to pay taxes? Capital gains and federal? What are you going on about my man you certainly ain’t helping the situation down there.
You better invest in Assets with double digit ROI (Bitcoin or other Crypto) to protect your wealth against this inflation. Sticking with gold is foolish as it hardly revalued against the weak USD.
One wrong move and you’ll just as easily have double digit losses. And you still be up double-digit percentage over gold. Gold is supposed to be a store of value more than it is to make double digit profits.
How on the earth it is a store of value when the money supply gets inflated at double digits, but gold isn’t keeping up?
Underdeveloped and under investment in infrastructure does not equal inflation.
Dude here in Belgium electricity up 100% and gas 200% but our wages only up 3.5% lmao.
I say that’s temporary since the more advances in technology will enable cheaper and efficient ways to obtain energy. I’m not disagreeing with you sir, but you may need a better example.
It’s not. Yes electricity should be deflationary and actually becoming cheaper. But your money is losing value faster than your electricity gets cheaper, hence the crazy rises. Your money is broken.
But gold isn’t up 18.4% this year, is it? But bitcoin is up more than 18.4% this year. Bitcoin > gold.
Bitcoin can buy down 18% tomorrow as well. Even if it’s down 18% tomorrow. It’s still double digits Better than gold… Don’t mistake volatility for not making it useful.
Maximalist say bitcoin solves this you take energy to create bitcoin, try doing reverse: Take bitcoin and destroy it to generate back the energy it took to make!
Consider this part of the deal when people move from one place to another for tax purposes, because when taxes aren’t properly collected for the use of the greater good they’re left to the mercy of the free marketeer who’ll only supply you the things you want based of sheer profits.
I expect the same thing for Europe, but everyone is saying it’s just here in December. I don’t expect it to be as extreme though.
Prices of electricity is 5 Times higher in Sweden in the last 4 months. And gas/petroleum is the highest in the world, I think. Houses are really expensive and the wages are the same since long-time ago. it’s crap.
It seems Puerto Rico electricity problems are more about corruption than inflation. Four years after hurricane solar panels and battery storage is ridiculously small. Electricity still generated by burning oil and coal.
Well, I’ll be God damned! “According to the U.S. Energy Information Administration, Puerto Rico continues to rely on imported fossil fuels, which provided 98% of the electricity generated in 2016.Nov 6, 2017* Pitchforks, incoming!
That’s the whole reason I had to move out and found home in FL 20 years ago, but here things are getting spicy too. So, probably going back to the island soon, I’m really happy I never sold my property there and now I’m grandfather in with property tax contributions at a very low.
That’s because of an 18.4% increase in crypto people moving there to take profits, definitely not gold people. Here in Romania electricity will cost 80% more starting with 2022. Inflation hit almost 8% and it is stated that it will go as high as 9%.
I guess that means companies won’t be able to increase prices when everyone’s last dollars will be spent on electricity. There is a limit to what price increases consumers can absorb, right?
