/biz/ - Business & Finance

>>52893445
He's mentally ill.

>>52893445
I see you didn't pay attention to the 2008 crisis. This is a quite mellow situation - unpleasant, but functional. You haven't seen a major wave of corporate bankruptcies, banks becoming insolvent, etc. yet. The real shit is going down when they start talking about "one-time" levies on bank accounts (the ones that still exist).

Schiff is a permabear on everything except gold. You literally gain nothing from reading what he has to say. Since he's *always* bearish he can't even be used as a contrarian indicator (unlike Jim Cramer). Here's a few BTC examples. There's plenty of general market examples out there as well.

December 18th, 2018
>Bitcoin is bouncing off its weekend low of near $3,100 on the 1-year anniversary of its record high of just under $20,000. Don't buy into the celebration. There is a lot more air yet to come out of this bubble.
https://twitter.com/PeterSchiff/status/1074739334383919109
6 months later - at the end of june - btc went above $12k several times. That's a 4x.

March 14th, 2020 (a couple of days after the covid dump)
>#Bitcoin is getting ready for another 50% drop.
https://twitter.com/PeterSchiff/status/1238677573619548162
Bitcoin was trading at around $5.5k when he tweeted this. A year later it was $55k+. That's a 10x.

July 16th, 2021
>11% down now. It's dropping like a stone. Wait until #Bitcoin breaks below $30k.
https://twitter.com/PeterSchiff/status/1415729277040005128
It did drop below $30k a few days later, to a local bottom of around $29.4k.
4 months later it was breaking its ATH, reaching $69k. That's a 2x.

Long story short, just buy and hold blue chip cryptos and don't pay attention to retarded boomers.

>>52893445
He's retarded.
The second the Ukraine war ends, watch what happens.

>>52893445
>Wait, there's still more pain ahead?
The pain hasn't even started yet.

>>52893784
Pretty sure the current chart implies we are in 2009 not 2008.

>>52893742
I usually ignore any threads involving him and his babble. he cries like a bitch and wont shut up about how horrible bitcoin and crypto is. like no this guy just needs to fuck off he's not one of the men of the world he sucks.

>>52893445
I thought crypto was invented exactly to solve this. When everything went so wrong?

>>52893445
>no landing
>crash
???

>>52893458
>>52893742
>>52893763
You don't even understand what he's saying. The US dollar is crashing, currency crisis - stocks are going to soar next year. Crypto is not money by definition. Crypto is no better than fiat.

>>52893742
December FOMC 2018 Powell sparks a massive bull rally in assets and real estate by stating that the "US Recovery is still underway (from 2008)" and cuts the interest rate.
>Schiff called it, fewer than 1% of polls predicted an FOMC pivot.

The United States essentially collapsed in March of 2020 because of the future liabilities created from that monetary stimulus package.
>Bitcoin did nothing for over half a year after this stimulus, as gold and gold mining companies became the best performing asset class and sector for most of 2020.

Schiff was early by 4 months, if you had pulled out money in July of 2021 you are laughing right now.

>>52893843
wtf didnt they already invent digital houses for us to live in?

>>52895553
He's predicting another pivot next year, you know that right?
Fed is going to be forced back into QE.

>>52893742
>Schiff is a permabear on everything except gold
No he's not you retard. He's a value investor and invests in profitable companies that pay out a dividend yield. He was literally telling everyone to buy energy back in 2020 and had you listened to him you would have made a killing.

>>52893445
Hope he collects from the boomers!
High inflation.
Too old to work.
Au revoir my boomer friends!

>>52895573
They’ve all but said it at this point. But while most people start boasting about some minimal gains they’ve seen in their portfolios, layoffs by the truckload will still be happening. Bezos has even been very public about his stances: if you aren’t one of his warehouse drones you may as well pack your shit. Twitter, facebook, basically every tech company is about pack the unemployment lines. Remember the whole essential worker meme during the corona hoax? Turns out it was a sign that if you aren’t one of those you should be on notice.

>>52893445

Bull market - bulls be like ‘it’s going up forever’. They wrong.

Bear market - bears be like ‘it’s going down forever’. They’re wrong.

It’s all just noise.

>>52895573
The Fed could pivot any day now, we have no idea what the fuck is breaking with rates this high!
this guy >>52893742 is delusional!

>>52893458
This, Shapiro really did a number on him

>>52895806
>breaking with rates this high!
Breaking? This is what a healing economy looks like. Natural rates would be much, much higher. The fed wont let the economy heal and malinvestments fail.

>>52896070
Fuck face stop arguing with other Austrian economists you know what i mean now go be a human being for the day

>>52893459
nor will you, they'll just print more. It's death by printing. Slow and lethal.

>>52893459
>The real shit is going down when they start talking about "one-time" levies on bank accounts (the ones that still exist).
They will never be this blatant. What happens is they'll just deface the currency (again) while first telling their cronies to get into inflation-resistant assets.

>>52893445
Lol, we're at the point in which reducing 15bps would pump the markets into the stratosphere, let alone going back to ZIRP. It's over, the Fed won, they always do.

Yeah bro it will only be crisis after crisis after crisis till the day you die. You think it's bad? Well it's getting even worse. And worse. And then it will ACTUALLY get even worse. Just more pain forever. We are so far from the bottom it isn't even funny. There is no bottom. Where will the new money magically come from huh? It's over. No happy thoughts never ever. Crisis and pain forever. Be afraid. Buckle up.

markets have natural cycles, up and down, ask yourself if peter has ever been bullish. no, he hasn't. he'll always be right only half the time. he only shills gold, thats all he can do. every time he tweets about crypto he gets attention and thats why he does it. his target audience is people who are bearish all the time, hate crypto, and like gold and nothing else. he's just repeating himself over and over and over and over again for years, never saying anything new, and it shocks me anyone still cares what he says

>>52893445
Oh no the sky is falling

>>52896639
this but unironically

>>52895592
you could have bought anything in 2020 and made a killing, including much more on crypto

100k eoy 2023

>>52893445
>there will be no landing at all

>>52893445
Dis nigga been on that bull shit sense 2010. Nigga shut da fuck up yo ass is always wrong boi. You some typa reverse indicator n shit namsayin. When dis nigga speak real niggas be openin trades wit fuckin 60x leverage n don’t even miss. Fuck outta here witcha goofy jew ass

>>52893445
Your economy will work like a 3rd world economy for a few years until your 1st world work ethic and productivity fixes it so the jews can ruin it again.

>t. brazillian

>>52893445

>>52893458
>he said something i dont like
>h-h-he's mentally ill
you're just like the faggots who hate kanye
kys

>>52893742
>blue chip cryptos
By definition there are no blue chip cryptos. No crypto has been around long enough for one to definitively say it has a history of sustained growth.

Blue chips are called so because they have huge market cap, and an extended history of growth. Crypto has been mainstream for about 5 years, and steady growth is absolutely NOT part of the deal, as we've seen.

>>52893843
Jews did this.

This guy is a certified clown. Schiff got lucky predicting the 2008 crash with random doom predictions and hasn't been right about anything since.

By the way, he also ran for Senate in 2010 and got BTFO out by Vince McMahon's wife. His EuroPacific firm all but folded from holding too much stagnant gold.

Schiff is an annoying little loser at life who keeps these antics going to scam a dwindling base of libertarian goldbugs.

>>52902748

Oh yeah, forgot to mention his old man died in prison from flagrant tax fraud. And now his firm is under ongoing investigation for facilitating tax cheats too. Don't be surprised if you see Schiffy locked up!

>>52893445
Yes, there is clearly more pain ahead (look at the yield curve for God's sake). With that being said, I like Peter and I respect him, but he has no clue how the banking system actually works and neither do most of the contemporary Austrian Economists. Austrian Economics does a great job explaining how banking worked 200 years ago, but not anymore.

>>52893458
Not that I'm aware of.

>>52893742
Peter's investing advice (especially in the short-term) is absolutely horrendous. People need to DTOR. The only person you can trust to manage your risk/reward at the end of the day is yourself.

>>52895543
Dollar value to other currencies is relative. On a Macro scale it doesn't matter, the dollar is gaining value against all other currencies right now. However, on a micro level, yes, it is losing value against most assets.

Why would stocks "soar" next year? Because you're expecting a FED pivot? Go look at how the stock market actually reacts when the FED pivots after a recession/depression. The market usually crashes for months, or even years after a pivot. Go look at actually charts and stop listening to what people on the internet tell you to think.

>>52895553
>The United States essentially collapsed in March of 2020 because of the future liabilities created from that monetary stimulus package.

Not even close. #1. The stimulus was fiscal, not monetary. #2. The economy collapsed because the government literally mandated a shutdown. #3. The resulting CPI was caused by a total collapse in supply, followed by increased demand brought on by the fiscal stimulus.

>>52896522
^ This

>>52896766
^ This

>>52898941
^ Based

>>52893445
not if you have brain damage or create some via drug abuse

>>52893445
wdym, more pain? i've been rotating between shitcoins and stables for half a year now and experienced no pain at all

>>52901930
based
>>52903358
ah, a fellow retard I see

>>52903405
shorting also been treating me well this year.
market's never gonna adapt to you so you adapt to it or get rekt.
>>52903358
topkek at your retarded mount rushmore, is that from doginu?

>>52903428
aye theyll understand soon enough

>>52895592
energy isn't done yet. i'm still up 3x and we're barely getting started.

>>52902748
>>52902783
Schiff is worth over 100mil and has a hot latina wife. How about you?

>>52901930
>Women don't have rights

>>52893445
>wear a suit
>be dramatic
>instill fear
>the most powerful motivator
>people buy his product
>gold number go up

>>52897164
You're right anon, 2020 was the last bull season where a lot of chads became millionaires. I'm seeing potential in the NFT sector for huge profits when the bulls return and I've seen good innovation in the cloudbreakers which gives the right to personalize XR experience and SDK contents on road trips

>>52893795
Lol the top was 36k and we bounced back up to 34k before this current drop.