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/biz/ - Business & Finance

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File: 159 KB, 900x1351, Schiff%252C+Peter[1].jpg [View same] [iqdb] [saucenao] [google]
50176768 No.50176768 [Reply] [Original]

INSOLVENCY CONFIRMED AHAHAHAHAHAHAHAHAH

>> No.50176901
File: 64 KB, 215x300, 1514871565671.png [View same] [iqdb] [saucenao] [google]
50176901

>>50176768
Not your vault
Not your bank

>> No.50176922

>>50176768
Rolling for suicided

>> No.50176936

spencer will take good care of him

>> No.50176969
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50176969

>>50176922

>> No.50177024

Damn, but I thought crypto was the future?

>> No.50177046

>>50177024
You thought right

>> No.50177094

>>50177046
based and magic internet moneypilled

>> No.50177150

weird story
why do you think they'd do this?

>> No.50177211

>>50176768
Why didn't he predict this?

>> No.50177295 [DELETED] 

>>50177211
he's a jew, cut him some slack
jews aren't very bright

>> No.50177359

Gold is barely down 2% on a day when a whole host of assets are a sea of like 5% losses

>> No.50177388
File: 36 KB, 674x519, energy and metals.png [View same] [iqdb] [saucenao] [google]
50177388

Is this really that bad?

>> No.50177873

should have used AAVE

>> No.50177886

>>50177359
gold has a cap of trillions, 2% is a fuck huge move

>> No.50178228

He doesn’t hold any gold he owns mines.

>> No.50178440

>>50176768
this how a btc maxis is born

>> No.50180704

>>50177295
I'll cut him

>> No.50180937

>>50180704
based

>> No.50180958

>>50176768
what happened?

>> No.50180997
File: 63 KB, 729x419, 523.jpg [View same] [iqdb] [saucenao] [google]
50180997

HOLY SHIT THE COPE AHAHAHA I GOT RUGGED THAT MAKES ME JUST LIKE THE FOUNDING FATHERS LMAO

>> No.50181012

>>50177150
puerto rico does what the US tells them to

>> No.50181036

>>50180997
rug·ged
/ˈrəɡəd/
having or requiring toughness and determination.

you absolute donkey

>> No.50181037

>>50180997
Kek

>> No.50181060

>>50177211
its not part of the business cycle

>> No.50181121

>>50180997
>>50181036
>>50181037
Technically he's right in both meanings. Most founding fathers died with substantial debt thanks to rampant real estate speculation. One of Washington's close friends, James Greenleaf, created a massive real estate bubble in Manhattan, fueled by European capital. When a war broke out and Dutch banks went insolvent, the bubble popped and most of the big names lost their fortunes. The Bankruptcy Act of 1800 was passed which gave complete debt forgiveness to all bankers and speculators, the original too big to fail, but they were degenerates so naturally they continued speculating. Robert Morris, the founder of our treasury system, was among those, and spend some of his final years in debtor's prison.

>> No.50181247

>>50176768
I find it very hard to believe that his bank is insolvent. Gold has not gone down that much. Isn't his bank just a gold vault basically?

>> No.50181385

>>50181247
It works like this
>gold is REAL, PHYSICAL value
>gold goes down
>only antimatter can destroy matter
>there is now a black hole in Schiff's gold vault
>broke

>> No.50181629

>>50176768
He's saying his customers are going to now lose money. How can that be if he is on the up and up? I guess fractional reserve banking but wtf was he doing that it ended up this way? Anyone have more details? Was he gambling on leverage?

>> No.50181745
File: 35 KB, 600x600, CF225FD9-73FA-41AA-8EF5-16408AF5B556.png [View same] [iqdb] [saucenao] [google]
50181745

>>50176969
>(you)

>> No.50182739

>>50181629
Bump

>> No.50182867

this all happened
his old bank account also got closed down a year ago
and he still doesn't see the point in making a parallel economic system using a trustless mechanism

he can be a bitcoin PRICE hater all he wants, he should be yelling about DeFi at the top of his lungs but he's delusional

>> No.50184233

>>50182867
Forks

>> No.50184277
File: 736 KB, 616x798, 1621435570383.png [View same] [iqdb] [saucenao] [google]
50184277

buy the dip

>> No.50184307

>>50176768
guess masturbating to being "right" about btc is off the table

>> No.50184312

>>50176768
>losing cartel money

>> No.50184340

>>50176768
no way he is so heavily into fort knox but fort knox has no fking gold in it. schiff has a bunker full of metal no way that guy gets wiped out

>> No.50184358

>>50182867
he is completely right about bitcoin CNN = 100% bitcoin what does cnn look like now. CNN still talking up bitcoin what a fking joke. its roach motel.

>> No.50184375

>>50178228
i see.

>> No.50184402

>>50177024
it is. but it just happens to be currently linked to the $ the bitcoin is wrecked now, because xchanges (those that have now vanished), redeemeed in $.

>> No.50184416

>>50184358
He’s right during a bear cycle, but he’s still insolvent

>> No.50184443

>>50184416
damn they shut his bank down
:(
mebbe he just didn't grease enough palms in puerto rico

>> No.50184736

>>50181121
I went on a deep dive because of your mention of Robert Morris.
It's amazing that you can draw conclusions from the end of tobacco farming prosperity, the credit bubble Morris (and others) got caught up in, the reliance on European trade (and jefferson basically yeeting trade off a cliff in 1807) and the rise of slavery in the US because of textile boom in europe and cotton plantations in US.
US history is so fucking short it is insane.

>> No.50184739

>>50176901
kek

>> No.50184761

>>50180997
>rugged
Not a good choice of words, Lmfao
>>50181036
It also means rug pulled and most people exposed to assets are going to associate it with that.

>> No.50184801

>>50182867
Bitcoin is not a system, it is a brand.
Schiff has advocated using Gold's brand with a blockchain system.

Guys, the entire objective of the Bitcoin (Ecash) peer to peer project was to showcase and prove blockchain can work to decentralize the financial wellbeing of an economy, because if you haven't noticed, getting repeatedly raped through history by a central bank that becomes politically infiltrated is getting fucking annoying.
Not crazy to think the internet can offer a solution to the problem, but Bitcoin as a brand/commodity is almost as immoral as fiat currency itself.
The volatility is not getting better, it's getting worse, and telling people to hold for 4 years because 'you never lose money in bitcoin over 4 year period', when we created this thing in fucking 2009 is immoral.