Bonds Prices Will "Implode", Our Economic House Of Cards Will Collapse: Peter Schiff
Peter joins me to talk crypto, the VA governor race results, China and the Fed's decision to taper.
On my latest podcast, I talk to my favorite economist, Peter Schiff, about:
Why he thinks bitcoin’s latest run up is irrelevant; Peter still sees bitcoin going to zero and thinks that crypto advocate Michael Saylor is ducking him for a debate, which I have offered to host on my podcast
Peter’s take on whether or not crypto could cause a systemic global financial crisis
Whether or not Peter believes that China could make a run at the U.S. for the world’s top economic superpower - and what that would entail on the part of China
His take on the Fed’s decision to taper, but hold off on raising rates. I ask Peter what he thinks the catalyst will finally be that convinces the Fed that they have no choice but to move rates higher
Whether or not he has looked at uranium and/or taken a position in the market
His take on the recent VA governor’s race and what he believes has catalyzed a sentiment shift among voters in Virginia in such a short amount of time following the recent Presidential election
Whether or not inflation is truly transitory or not - what will the effect be on the middle class and markets?
Why he is getting more play in the mainstream media of late
We discuss several of the topics I talked about over the last week.
We touched on whether or not we will see hyperinflation, which I also discussed with Lawrence Lepard earlier this week:
We also talked about whether China could be side-stepping a cataclysm by banning cryptocurrency, something I talked about on my last podcast and wrote about earlier this year:
We also touched on why we both seem to believe tech will lead the next wreck, which I just penned my thoughts about just days ago:
Podcast listeners get 20% off a subscription to my blog using this link:
You can listen to my full podcast with Peter here:
Ponzi schemes like Bitcoin always go to zero.
Bitcoins thesis is pretty dumb. "We need high fees to have security" but high fees drive away users. Once the block subsidy in BTC is gone bitcoin will crash and burn. Of course it will crash a burn a bit before that because markets will price it in, in advance.