/biz/ - Business & Finance

Inb4 crypto shills

>muh golden bull run

>>13398083
He has been wrong for an entire decade. He has been losing people money this entire time. That's a lot of wrong.

>>13398099
checked

whats your advice shlomo

>>13398118
Guns, gold, and food

A broken clock is right twice a day, this mother fucker has been saying the economy will crash since the beginning of time, he gets it “right” once and we’re supposed to think he’s a guru?

>>13398128
This.

Dude is a fucking moron.

>>13398128
I disagree, a lot of what he said has come to fruition, it takes a little bit of time to see whether it was right or wrong.


It's pretty difficult to be spot-on in terms of predictions, and his reasonings behind are more sound overall and make sense.

>>13398139
What has he been wrong about? one example??

>>13398153
Please spell out what has come to fruition

>>13398126
silver, or no???

>>13398166
https://www.youtube.com/watch?v=imvFC_GDoks

This video he mentions everything the Fed has done and why it's wrong, and specifically he notes how the interest rate thing would boom the housing market and stock market, but that it would then come down and end up really hurting the consumer market, for things like food and GAS (Happening right now in AZ imo).

>>13398193
and btw, if you think any of this is WRONG, please leave this thread and never come back. I don't want your shitty uninformed opinion

>>13398083
>real estate prices 10-20x median salaries
This is going to be a fucking disaster and gold believe it or not is actually still expensive although cheap compared to equities and real estate.

In 2000, I was able to buy ~130 oz of gold for median income, now I can only buy ~50 oz gold for median income.

>>13398083
>7 posts by this ID
>shitting up your own thread this much
kys pajeet

>>13398229
I'm actually scared of how bad this is gonna be lol

>>13398252
bye nigger have fun

He's literally been wrong for the last 10 years.

Real physical gold will be the only thing with value in the next 10 years.

Has he changed his opinion about crypto yet? In all honesty I think he made some good points on it over the years. The idea that Bitcoin is the 'final' version and can't be replaced by something else is... coping. Of course early adopters are going to say that and even with first mover advantage it could be gone in a decade

I love gold anyway though

Same entitled pseudointellectual as a faggot, who predicted internet to become nothing more than fax machine and got a Nobel prize for it.

I think crypto will have a bright future, It's a shame that Peter can't see the potential of how crypto can change our socioeconomics We will have crypto for a store of value and cryptos like FLETA for smart contracts.

>>13398083
>Schiff has predicted a lot of things correctly in terms of the economic situation, Why is he so bearish on Crypto?
His prediction is the same year after year. A broken clock is right twice a day. He was literally telling people to short Bitcoin back in 2013-2014 because it was "worthless" and "going to zero".

Honestly, anyone who takes crypto advice from a Jewish gold salesman deserves what's coming to them.

>guy who sells gold that moon during crisis is calling for a crisis

woah

>>13398284
I thought his issue was with the rate at which new tech emerges but not necessarily the cryptocurrency itself?
Crypto has changed dramatically in the past two years never mind the next 10

What does this say to you?

>>13398289
good points unironically
thank you
>>13398278
hes bearish and says this rally up to 5k was just so people could sell. Idk I think if the economy keeps getting worse then precious metals and crypto all gain big.

>>13398312
Think he changed his opinion since then though.
>>13398313
>Idk I think if the economy keeps getting worse then precious metals and crypto all gain big.
Don't disagree but gold will be gold in 10 years.. unless Bitcoin becomes gold.

Crypto will definitely be something else in 10 years, no doubt about it, but that doesn't mean it will go away. Will Bitcoin still be Bitcoin in 10 years? Because the only way gold won't be gold is if become becomes gold to Zoomers

The elephant in the room is that the price of gold is heavily suppressed by Wall Street (naked shorting) on behalf of the Fed because they want to be able to print money and point to stagnant gold prices and say "look, everything is fine."

If the economy really collapses to the point where you need physical gold to try and survive, may as well kys. No one is going to /make it/. Anything just short of this scenario and cryptos will be comfy AF when boomer economy final chokes on its own shit sandwich.

>>13398478
Thats true

I agree if its so bad that all you can use is gold there is no point anymore in worrying about wealth.

>>13398083
>>13398114
>>13398128
>>13398139
He's right about BTC, but wrong about gold,
Gold, BTC, and altcoins are bad investments because they have no built-in mechanism for return.
They don't pay dividends (and never will, unlike a growth stock) or interest (like a bond).
The only way to make money off of them is to find a buyer willing to pay you more for your gold or crypto than what you paid for it.

>>13398527
go away moron

>>13398527
Dividends are shit, if the company isn't using all of its profit to make more profit and push up its evaluation, it's a bad business

As for crypto, it doesn't need to provide profit for it to be a valuable asset, its value is in its use as a currency and store of value.

>>13398114
>>13398128
>>13398139
He's literally just said it's going to crash three times specifically, was right the first two times and will be right here. The entire Austrian school agrees with him, but sure it's all baseless.
>>13398478
>>13398522
That's a retarded outlook, there's a massive gap between meltdowns so bad you want to die and just not being able to use fiat or cryptos. The end of fiat is inevitable, and when that happens you can expect at least a short period of instability where, say, internet and power goes down. Good luck living on shitcoins then, I'll be sailing through that and getting rich after.

>>13398161
Guy is basically a gold salesman. You'd be an idiot to think he doesn't embellish his words to prop up the thing he is selling.

>muh jewish illeminati printing money hyperinflammation vuvuzela shiny rock n shiet
why are boomers and doomers so dumb

>>13399354
?
that doesn't change the fact that his arguments are valid and ultimately he is right lol

>>13398527

Exactly.

>>13398083
Buying crypto is buying btc miner's bags
Buying stocks is buying boomer bags
Buying silver or gold is buying ancient beings bags
Buying chainlink is buying shares in 4th industrial revolution

>>13399568

lol to think some people believe this

>>13398161
Buying gold instead of stocks or BTC for the past decade

Useless boomer

>>13398308
But surely this will have an exponential growth over time, still early days - the learning curve will steepen.

Agree on FLETA, massive potential on that project :)

>>13398478
typical entitled 18 year old millenialcuck

>>13399568
Buying Resistance is like buying a shovel for the 4th gold rush

>>13398083
'If the economy really collapses to the point where you need cryptos to try and survive, may as well kys. No one is going to /make it/. Anything just short of this scenario and gold will be comfy AF when millenial economy final chokes on its own shit sandwich.

>>13399713
but do u think crypto is legit?

>>13399618
he views that btc and stock are in a bubble, and that gold is the way to hedge the loss in these and loss in the us dollar.
you're only covering part of what he has predicted, and so far the evidence is backing him up desu

my friends, gold has a market cap of over $7.5 trillion.

the current supply of US dollars (M1) is $3.6 trillion.

even if Peter Schiff is right, gold taking the place of US dollars would mean less than 50% upside to the current gold price.

Bitcoin has a market cap of $0.09 trillion.

Don't listen to Peter Schiff. People who listen to Peter Schiff lose money. Buy BTC and dividend stocks. You're welcome.

>>13399501

Because production methods keep getting more efficient yet prices have gone up 40% in the Euro zone

>>13399917
now das a fair point anon

the only thing is I would say listen to him in terms of what he says about the US economy. very accurate imo.

Remember the crash of 2015

https://schiffgold.com/interviews/2015-see-real-crash-peter-schiff-predicted-audio/

>>13399917
Gold mcap doesn't matter because 90% of gold will never move and is held by states in Armageddon type defense contracts. The volume on gold isn't that high, if the dollar collapses it can easily 30x

>>13398083
1) old
2) jew
case closed

>>13399679
Yep

>>13398083
Nice try, Peter.

>>13398114
you are wrong about crypto staking is literally a built in retirn mechanism

>>13400579
wrong anon was meant for >>13398527

>>13398083
Austrian economics is babby's first economics.

I know, because I too fell for the Peter Schiff meme in 2008/9, when the big financial collapse was well underway. But I grew out of it and so should you. There's a lot more to economics, especially macroeconomics, and a lot of it is counterintuitive when you first hear it. His views on inflation, monetary policy and MUH GOLD are naive at best.

>>13400708
he sells a product like mike balloney and that product is fear it just looks like gold