Hi, I'm Peter Schiff. Why are you all so retarded believing

>>3033435
BTC $.90 before the end of august.
Screencap this.

>>3033435
Except he's going to be at the Nexus conference in September. You must be one of the people also selling your NEO right now instead of using it to make gas. It's like you people do absolutely 0 research. nice copypasta b8 though

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88KB, 281x300px

>>3033435
>Spend your life in financial industry
>Become mayor figure in Real Money aka Gold
>Bitcoin comes along which is greatly superior to gold.

Now you are faced with a choice, either admit defeat and change your strategy.

Or choose to lie to yourself and protect your ego.

He chose 2. . .

lol i just rewatched debates he had with cenk not even a couple minutes ago and this thread pops up

>>3033435
>imaginary
>both gold and bitcoin are backed by hashing power in the form of mining, albeit both being very different forms of mining
>somehow this makes bitcoin backed by nothing and gold legit in his eyes

>>3033435

I have been keeping tabs with Schiff since 2009

He has recommended gold and foreign stocks over US stocks for nearly 10 years

I can't understand why someone educated in economics would recommend an inanimate metal over income-producing assets

"Gold should be 5% of your portfolio" - except Schiff shills gold so hard, the implication is that you should be 50% gold and 50% chink stocks

>>3033435
Thanks just sold 100k

>>3034421
never said go all in on metals, said at least 5%, and the rest in foreign stock.

>>3033997

His angle is that it does not physically exist. He likes the Blockchain technology, just not the currency itself which is nothing but 1's and 0's. Young, crypto-minded people are all about instant gains and pump and dumps. Gold and silver are not for instant profit. They're the ultimate hodl. They are insurance against a market recession or full blown crash. They hedge currency inflation. They're also used in manufacturing, silver especially. Keyboards, solar panels, medical products, etc all use silver and sometimes gold. Bitcoin does not physically exist.

I see both sides of it, but gold and silver were here before us and they'll be here long after we're gone. Bitcoin relies on a chain of precariously sustainable technologies to be useful. Many points of failure. Precious metals just...sit there until you want to sell them or manufacture something with them. They'll be there when Niagara Falls has eroded into nothing. They'll be there when Phobos spirals into Mars.

>>3034421

>I can't understand why someone educated in economics would recommend an inanimate metal over income-producing assets

Because you're uneducated in economics. It's not about keeping the conveyor belt of Big Macs running straight into your gullet.

>"Gold should be 5% of your portfolio" - except Schiff shills gold so hard, the implication is that you should be 50% gold and 50% chink stocks

Your words. He doesn't say 50% gold or 50% Chink stocks. He does know that the West is in a bad way financially and the East-West
cycle is due for a change, and god damn is it coming.