It's a complex issue that requires careful consideration and expert guidance to navigate effectively. Perhaps consulting with a financial advisor could help maximize investment strategies amidst such uncertainties.
Schiff is definitely a brilliant financial mind. These fucking idiots playing with bitcoin are gonna get burned and I can’t wait to see it happen. It’s gonna be epic,
NOBODY TRUST THE GOLD STANDARD ANYMORE AFTER NIXON. WHEN THE US HAVE TOO PAY THEIR GOLD, THEY WILL NOT PAY AND THEY WILL STOP AGAIN WITH THE GOLD STANDARD.
Gold looks like it's going big this year. I really want to profit from it this year. I have about $40k I want to invest. My brain doesn't do very well in understanding these things. How do I go about it?
A good number of people discredit the effectiveness of financial advisors in exploring new markets, but over the past 10years I’ve had a financial advisor consistently restructure and diversify my portfolio/expenses and I’ve made over $3million in gains… might not be a lot but i'm financially secure.
Glad to stumble on this commentary, I've been getting suggestions to use one, but where and how to find one has been challenging, Can i reach out to the one you use?
Well, there are a few out there who know what they are doing. I tried a few in the past years, but I’ve been with Melissa Terri Swayne for the last five years or so, and her returns have been pretty much amazing.
I just looked this lady up out of curiosity and found her web page easily. Read through her qualifications, which were all very impressive. So I scheduled a call with her.
I hope you realize that the Fed is a privately owned organization ? If you look in a U.S phone book for the number ... you don't find it under Govt offices and departments. So how would you end it ?
@@earthy770 If you go do the reading ... it was a different bank in those days ..... it is totally privately owned and operated today, B of E went through a similar change. Maybe the U.S could de couple from it but as the Fed Reserve is bigger than the U.S ... I doubt it .... and of course if the Fed ever called in the loan the U.S would be fkd ... got them over a barrel.
@@Ridethebomb777the government created the federal reserve and maintain the right to change the Federal Reserve Act whenever they please. it would be stupid to do so for obvious reasons though. our government has allowed this issue to grow so big that repealing the Federal Reserve Act would literally amount to economic suicide. that would put the power of setting interest rates into the hands of the only people greedier than the Federal Reserve: our Congress & representatives. we depend on the Federal Reserve for our way of life today. had we just listened to our founding fathers and never allowed the central bank to formally take place, we’d be in a much better place. maybe within the first 3 decades we could’ve got rid of it without issue, but not anymore. the sad thing is that I trust the Federal Reserve more than I trust Congress when it comes to setting interest rates. Putting power back into the hands of the current Congress would just be cycling out one thief for another more dangerous thief. it’s important to note that the 2008 recession never really ended. our economy has been on life support via quantitative easing, a cycle that has led to the downfall of every other reserve currency. due to QE, our economy literally depends on the Federal Reserve keeping rates artificially low. if we take that power away and let the economy go through its natural cycle, we’d be in a Great Depression within no time. that’s where you have to pick. would you prefer a Great Depression in the short term with long term sustainability once we weather the storm, or would you prefer to print our currency into oblivion until the world no longer trusts us? the latter will just prolong the suffering. shitty options either way. its sad.
Reviewer-qr5gryou don’t know what you’re talking about. He was telling everybody about the 2008 crisis and people were laughing at him on national tv. He’s calling this right too but it’s a slow moving train. You can’t predict when it’s going to happen but he’s 100% correct on the outcome
@Reviewer-qr5gr there’s videos to prove it smart guy. But let’s just keep doing what we’re doing. Seems to be working great. Out of control inflation, rampant government corruption, and a depression on the way. Enjoy buddy.
It is a government inspired crisis this time. The Treasury have to sell Bonds to cover the trade imbalance and the government spending imbalance. In order to sell them they have to raise interest rates and the old long-term, low risk, low interest, AAA investments (including Treasury Bonds), held by the banks (often due to government regulatory policy), become next to worthless. The next milestone is the 15th when the government issue a new batch of Bonds.
Given the prevailing market conditions and the potential risks associated with the current economy, I would recommend refraining from investing in stocks for now. Instead, it would be prudent to consider retaining a portion of your assets in gold. Alternatively, seeking advice from a financial advisor could provide valuable guidance in this matter
I loved having Peter on this podcast, but I already know Pat and Tom were like "We barely got to say anything, he wasn't listening" lol. You have to reign Peter in or he will talk for hours, he doesn't mean anything bad by it, he's just really passionate
@@jimlahey8312 Original Greenbacks had redeemable certificate, so in order to print a 5 dollar bill, the bank needed to hold that in metals. This limited how much could be printed, which is why they did away with it.
An epic story, we printed too much for ww2 and marshall plan. Bankers realized this and tried to drain our gold reserves. So he basically did that and put a pause anything that would destroy the economy
Nope wrong. Nixon implemented it. American voters voted out gold. Bush Jr. Implemented The Patriot act. And american Voters voted for it. We the American people are our own Worst enemy.
No. Gold would just back more dollars. Floating scale, no need to pin gold to a fixed amount. Now with the Brics countries they are letting the gold get pinned to dollars and working off that. Genius.
No, you're not naive. I've thought of that many times. Look at Canada's dollar. Also, I don't think it's a coincidence that Nixon took the dollar off the gold standard just as OPEC was putting barrels of oil on market only to be valued in US dollars.
That’s already occurring throughout the BRICS Alliance with Saudi Arabia and the UAE The petrodollar is on life support, that’s why they are bringing us to WW3 “When all else fails, they bring us to war” Gerald Celente
If they ever actually did have to back the current US dollar with gold, with the amount of inflation they have done since 1971 the gold price would probably be closer to $200 thousand an ounce to cover that call 😂😂😂
@@JCS1964-i7w indeed, and with every single day that goes by, the gap to a gold standard gets ever wider. I am just not sure there’s any way that the federal government will participate in that until there’s just outright economic collapse à la Weimar republic style.
Buying silver and gold is easy, but it is renowned for stability during economic hard times like this. The main problem is investing in stocks, dividends and even cryptocurrencies to grow your portfolio.... I’ve been trying to grow my portfolio of $190K for some time now, my major challenge is not knowing the best entry and exit strategies ... I would greatly appreciate any suggestions
Just try to diversify your portfolio to other market sectors, that way your portfolio is balanced and you don’t get to make so much losses. Also engage the services of a financial advisor to walk you through
Right, I delegate my day-to-day investing to an advisor ever since suffering a major steep-down late 2019, amid rona-outbreak, and as of today, I'm semi-retired with barely 25% short of my $1m retirement goal after subsequent investments.
once you hit a big milestone, the next comes easier.. would you mind dropping info of your invt-advisor please? i'm in dire need of proper asset allocation in order to achieve an optimal portfolio till year end, thanks in advance ..
Well, there are a few out there who know what they are doing. I tried a few in the past years, but I’ve been with ‘’Colleen Rose Mccaffery” for the last five years or so, and her returns have been pretty much amazing.
I just looked her up on the internet and found her webpage with her credentials. I wrote her a outlining my financial objectives and planned a call with her.
@@Pound_Shift wrong, Article 1 section 10 limits the power of the states not the fed. “No State shall…make any Thing but gold and silver Coin a Tender in Payment of Debts”
It’s mathematically impossible to just return to the gold standard. Even if America alone had all the gold ever discovered which is impossible it only backs about $210 billion dollars at 1950 prices. There simply isn’t enough gold for any major nation to have it be their primary monetary backing. We either collectively trust the government system, or there won’t be a system at all.
Gold can appreciate stratospherically to cover all the wealth in the world. Think about it, Bitcoin which only exist digitally can reach $60,000 or beyond. how much more a rare, tangible metal that has been currency since the start of civilization.
@@rap3208lol…so the answer is to inflate the value of gold. Gold can be manipulated just as easily as fiat. Oh..so you need an extra trillion…gold is now $15k and once.
@@tbe0116 It shouldn't be artificially inflating it. Just let it find its price.Gold is being artificially manipulated to a minimum price because the more it becomes valuable the lesser the dollar's value is. You still don't get it when you say we need an extra trillion tons of gold, i guess you neve will. And no, it will never be fiat, you can't just print it out of thin air. You can't manufacture it. You will have to do the hard and dirty job to mine it out of the ground before you will have an amount. CLEAR?
@@tbe0116 It's not inflation, it goes up as it value appreciates. It is finite and rare. It is but natural for it to go up as you let it be. It remained in the cellar because the more it does better, the dollar will do worse. It was manipulated to way below its true worth.
Zimbabwe just released it's gold backed currency called the Zig. As of today, it soared overnight to $13.67 per Zig. Zimbabwe's money is more powerful than that of our shining city on the hill
It doesn't matter what you prefer, the dollar is fiat money, it is not backed by anything but the faith and trust people put in it. Remove the faith and trust and the dollar is worthless, the dedollarization of the world has started and is snowballing. It will be little by little that the dollar will lose value until all of a sudden it tanks. Going back to the dollar will have other people and nations start trusting it again.
For 30 years, I've managed my portfolio, holding 3 shares of Berkshire Hathaway Class A stock (BRK:A) purchased in the mid-90s around $17,000. Now, I'm selling some to add new Gen. Stocks. Considering market instability, should I reinvest in Gold instead of stocks?
Invest in real estate, ETFs and high-yield savings account or Just buy Gold and protect your assets, the stock market is a rollercoaster. consulting with an expert is mostly advised though.
The market is not necessarily a rollercoaster if you know your way around the market, there are various opportunities in the present market to accrue good profit, If you are not too savvy with the market, just buy and hold on strong companies with good earnings, or consult with advisors on ETFs and actively managed funds.
Great gains there! mind sharing details of your advisor pleas? i've started gaining more cash flow with my employment and looking at putting money into stocks and alternative assets that can help build wealth over time
This will start america to buckle up and start working honestly again because it is bankrupt and they can't cheat out of it like they are doing right now. It'll force it to divest itself of the 800 bases around the world and stop its adventurism. It will concentrate more on issues internally rather than meddling in other parts of the world. I think it will be a good thing.
I agree with Peter Schiff . I think individuals need to go back and look at what currency is, look at the definition of currency, the Philosophy of currency, where does currency place in natural law and so on. What I am getting at is currency has an absolute definition. Currency must have value and value has an absolute definition too , true currency is accepted by everyone and is righteous. There must be true value in currency, not someone perception or want of what currency is. The make- believe money we are using now is not true or righteous and look at the problems we are having. We must go back to the Gold Standard.
What if NASA reaches that comet with tons of precise metals (Gold included) making it no longer scarce what happens to the price of gold and the countries that live on the gold standard?
This is how you fix the stock market - Only basic trading allowed. No shorts. No longs. No futures. No betting. You go back to the original purpose of investing in companies for the long term and for the economic strength/growth of the nation. It should not be a get rick quick scheme.
The public is sheep of the system because they live in state of constant need instead of prosperity. Prosperity is Freedom. Freedom is Prosperity. Gold Standard is the only way.
To embrace the gold standard once again, government spending would need to decrease around 90%. And everyone reliant on government benefits would need to get a job and support themselves. You see why this is very unlikely...
We already have one It’s called the US Department of Treasury We just have to get rid of the privately held Federal Reserve and just as Thomas Jefferson said “The issuing power of currency shall be taken from the banks and restored to the people, whom it belongs
Is there actually enough gold on the planet to actually cover just the deficit of the USA? Much less any of the other countries with deficits around the world?
Ok well you go gather as much gold as you can for the government, and see if it can replace the entire economy magically. You will never have enough it’s impossible.
Roman soldiers weren't really paid in salt, it is a myth. While salt was a valuable commodity in ancient times and was sometimes used as a form of currency, it was not the primary form of payment for Roman soldiers. Silver coins are probably it, a gold coin will be too big for their salary.
Wow people are now talking about the crisis in the states too this is such a shock that it was so late not that it’s happening the world knew about this a lot earlier
Peter Schiff, with all due respect, spoke of Washington as if they were all good-meaning people. In our experience (and I don't know for how long this has been), history shows the majority of them are not, not caring about long-term consequences due to solely focusing on their own short-term personal gain.
We always talk about the Stimulus checks- what about the corporate bailouts for the banks, airlines, hotels, which result in 1.2-2trillion? While the stimulus checks result in... 300-400 billion?
People love gold, politicians love the Federal reserve so they can still and waste our money. We need term limits in congress and elect politicians that want the gold standard back. We need to close the credit card.
The constitution, Article 1 section 8 Claus 5 says Congress shall "COIN" money and set the value there of .(not the commodity exchange) Clause 6 (counterfeiting) bacially says if you can't bring a note of credit back to the bank that issues it it's fraud or counterfeit. A dollar is a one ounce silver coin Fiat money is unconstitutional
the fact that you can sit there and say "only $71,000" without any self recognition of the irony really puts into prospective how out of touch with reality these crypto morons actually are compared to your average person.
Some argue that reinstating the gold standard could stabilize the U.S. dollar and prevent inflation.
But others worry it could limit the government's ability to respond to economic crises by restricting its ability to print money.
It's a tough call. We've seen both the benefits and drawbacks of tying currency to a physical commodity like gold.
But we shouldn't overlook the potential downsides either. The gold standard could constrain monetary policy and limit economic growth.
It's a complex issue that requires careful consideration and expert guidance to navigate effectively. Perhaps consulting with a financial advisor could help maximize investment strategies amidst such uncertainties.
It's smart, i work with an advisor too, he has been helping me make the right decisions, invest and maximize my investment
End the Fed. End all inflationary Keynesian economics and go back to Capitalism. Capitalism is deflationary, socialism/Keynesian is inflationary.
Democracy isn't CAPITALISM, it's mob theft. And mob oppression
Austrian economics 🎯
I learned that in Econ 101. Nobody taught it but it was clear Keynesian economics didn’t work and was a leftist theory
yes genius - has any other money systems ever worked, other than fiat.
@@nvda2damoon FIAT money does not work, that is why inflation is out of control from the massive inflation of the currency supply.
Peter Schiff continues to tell it how it is without fear or favor he is awesome
No Schiff is wrong and don’t understand basic math. There isn’t enough gold in the world to run the U.S. for HALF A YEAR.
Hahahaa 😂 , definitely not
I’m at the point of questioning the intelligence of anyone who still believes this guy knows anything.
Schiff is definitely a brilliant financial mind. These fucking idiots playing with bitcoin are gonna get burned and I can’t wait to see it happen. It’s gonna be epic,
NOBODY TRUST THE GOLD STANDARD ANYMORE AFTER NIXON. WHEN THE US HAVE TOO PAY THEIR GOLD, THEY WILL NOT PAY AND THEY WILL STOP AGAIN WITH THE GOLD STANDARD.
Yes, abolish the fed.
Gold looks like it's going big this year. I really want to profit from it this year. I have about $40k I want to invest. My brain doesn't do very well in understanding these things. How do I go about it?
Don't act on every forecast. It is best you speak with a market expert before making any investment decisions. My two cents.
A good number of people discredit the effectiveness of financial advisors in exploring new markets, but over the past 10years I’ve had a financial advisor consistently restructure and diversify my portfolio/expenses and I’ve made over $3million in gains… might not be a lot but i'm financially secure.
Glad to stumble on this commentary, I've been getting suggestions to use one, but where and how to find one has been challenging, Can i reach out to the one you use?
Well, there are a few out there who know what they are doing. I tried a few in the past years, but I’ve been with Melissa Terri Swayne for the last five years or so, and her returns have been pretty much amazing.
I just looked this lady up out of curiosity and found her web page easily. Read through her qualifications, which were all very impressive. So I scheduled a call with her.
End the Fed !!!!!
never happening the xxx own the world. They own the politicians. Term limits might help??
I hope you realize that the Fed is a privately owned organization ? If you look in a U.S phone book for the number ... you don't find it under Govt offices and departments. So how would you end it ?
@@Ridethebomb777 same way President Andrew Jackson did.
@@earthy770 If you go do the reading ... it was a different bank in those days ..... it is totally privately owned and operated today, B of E went through a similar change. Maybe the U.S could de couple from it but as the Fed Reserve is bigger than the U.S ... I doubt it .... and of course if the Fed ever called in the loan the U.S would be fkd ... got them over a barrel.
@@Ridethebomb777the government created the federal reserve and maintain the right to change the Federal Reserve Act whenever they please. it would be stupid to do so for obvious reasons though. our government has allowed this issue to grow so big that repealing the Federal Reserve Act would literally amount to economic suicide. that would put the power of setting interest rates into the hands of the only people greedier than the Federal Reserve: our Congress & representatives. we depend on the Federal Reserve for our way of life today. had we just listened to our founding fathers and never allowed the central bank to formally take place, we’d be in a much better place. maybe within the first 3 decades we could’ve got rid of it without issue, but not anymore. the sad thing is that I trust the Federal Reserve more than I trust Congress when it comes to setting interest rates. Putting power back into the hands of the current Congress would just be cycling out one thief for another more dangerous thief. it’s important to note that the 2008 recession never really ended. our economy has been on life support via quantitative easing, a cycle that has led to the downfall of every other reserve currency. due to QE, our economy literally depends on the Federal Reserve keeping rates artificially low. if we take that power away and let the economy go through its natural cycle, we’d be in a Great Depression within no time. that’s where you have to pick. would you prefer a Great Depression in the short term with long term sustainability once we weather the storm, or would you prefer to print our currency into oblivion until the world no longer trusts us? the latter will just prolong the suffering. shitty options either way. its sad.
Fiat money, fancy word for "FAKE" money .
All money is ‘fake’. Gold has value only because humans think it’s ‘pretty’. Money could just as well be rainbows.
Yes sir... We're honestly living in a Ponzi scheme..
“Peter Schiff was Right!”
And he will be AGAIN. 👌🏼
He sure hasn't been right about predicting economic collapses, i mean, its easy to get it right sometimes, when you predict one every single year.
Reviewer-qr5gryou don’t know what you’re talking about. He was telling everybody about the 2008 crisis and people were laughing at him on national tv. He’s calling this right too but it’s a slow moving train. You can’t predict when it’s going to happen but he’s 100% correct on the outcome
@Reviewer-qr5gr there’s videos to prove it smart guy. But let’s just keep doing what we’re doing. Seems to be working great. Out of control inflation, rampant government corruption, and a depression on the way. Enjoy buddy.
Reviewer-qr5gr I’d love to hear your version.
@@et34t34fdfyou're just wrong xD you're just straight up hilariously wrong
It is a government inspired crisis this time. The Treasury have to sell Bonds to cover the trade imbalance and the government spending imbalance. In order to sell them they have to raise interest rates and the old long-term, low risk, low interest, AAA investments (including Treasury Bonds), held by the banks (often due to government regulatory policy), become next to worthless. The next milestone is the 15th when the government issue a new batch of Bonds.
Biden is worst thing that happened to us
TRUMP 2024
Given the prevailing market conditions and the potential risks associated with the current economy, I would recommend refraining from investing in stocks for now. Instead, it would be prudent to consider retaining a portion of your assets in gold. Alternatively, seeking advice from a financial advisor could provide valuable guidance in this matter
Fantastic! Can you share more details?
was guided tho..Julia Hope Marble. walked me through the ropes majestically i'ts my ultimate pleasure.
If you don’t hold it you don’t own it.
Gold should be our global currency. This would eliminate corruption in the system. Gold isn't easy to find.
Ron Paul was right
Peter Schiff the Goat
It's so the fucking truth
I loved having Peter on this podcast, but I already know Pat and Tom were like "We barely got to say anything, he wasn't listening" lol. You have to reign Peter in or he will talk for hours, he doesn't mean anything bad by it, he's just really passionate
PETER SCHIFF is the only "BRILLIANT ECONOMIST" that makes sense. Thanks for having him.
The entire purpose of gold is scales and balances, there's a limited amount, meaning it limits the governments power.
A gold standard requires IOUs to function, it limits nothing
Same with BTC, only so much will be mined and gold can be taken from you BTC cant.
@@jimlahey8312 Original Greenbacks had redeemable certificate, so in order to print a 5 dollar bill, the bank needed to hold that in metals. This limited how much could be printed, which is why they did away with it.
@@Particle_Ghost it still wouldn’t solve the problem of transaction in large amounts in gold
@@jimlahey8312 Correct but it would create a cap, the government would be forced to limit spending.
"They have to do all the wrong things until they run out of wrong things to do before they start doing the right thing".. Classic!
Richard Nixon took america off the gold standard 🤷🏾♂️
Biden’s attempt to price cap oil took the world off the global hegemony of the USD and now the USD is starting to fail.
An epic story, we printed too much for ww2 and marshall plan. Bankers realized this and tried to drain our gold reserves. So he basically did that and put a pause anything that would destroy the economy
Nope wrong. Nixon implemented it. American voters voted out gold.
Bush Jr. Implemented The Patriot act. And american Voters voted for it.
We the American people are our own Worst enemy.
He had to and any other president would have done the same. Notice we haven’t gone back to it 50 years.
France- "Give us our gold"
I am 50 since i was a child i been hearing about gaza fighting and abolishing the fed.
If we were on the gold standard, they would manulipulte the price of gold like they did from 1930-72. The dollar is slipping either way.
No. Gold would just back more dollars. Floating scale, no need to pin gold to a fixed amount. Now with the Brics countries they are letting the gold get pinned to dollars and working off that. Genius.
It's my own naive assumption that the only thing holding us up is the petrodollar and once oil is traded in another currency, we're screwed.
No, you're not naive. I've thought of that many times. Look at Canada's dollar. Also, I don't think it's a coincidence that Nixon took the dollar off the gold standard just as OPEC was putting barrels of oil on market only to be valued in US dollars.
That’s already occurring throughout the BRICS Alliance with Saudi Arabia and the UAE
The petrodollar is on life support, that’s why they are bringing us to WW3
“When all else fails, they bring us to war”
Gerald Celente
@@marks9197
And the SWIFT international payment system was put into place using exclusively the USD
Petrodollar ended in 2020 Biden did that
@@JCS1964-i7wand eventually the SWIFT system will turn on its ugly head and countries will de-dollarize anyway
YES!!! #EndTheFed!!!
first time I agree with Peter Schiff
Gold standard stops them from printing money.
The reason they don’t want to end the FED is because a certain type of people own it
🇮🇱
Just a coincidence😂
Wow you guys got Peter to come on. Long time listener, strange seeing your favorite podcasters come together
Love Peter Schiff!
Yes yes yes, back to the Gold Standard!
Pat ain’t getting it!!!! PETER is standing on business 👩🏾💼 he speak 🗣️ facts.. END THE FED!
Been waiting for this one!!!
¿When was the last time that Ft. Knox got audited???..... ¿anyone knows? 😮
1954
Reminder to go back
and rereread Griffin's The Creature from Jekyll Island !
This and 1984 , should be taught to all kids .
yep good old w.wilson screwed us then with likely bribes from you know who?
$5,000.00 oz
If they ever actually did have to back the current US dollar with gold, with the amount of inflation they have done since 1971 the gold price would probably be closer to $200 thousand an ounce to cover that call
😂😂😂
20 to 25k
@@JCS1964-i7w indeed, and with every single day that goes by, the gap to a gold standard gets ever wider. I am just not sure there’s any way that the federal government will participate in that until there’s just outright economic collapse à la Weimar republic style.
@@peachykeen7634
🎯
Exactly what is coming
Wheelbarrow full of cash to buy one loaf of bread
20 to 50..Fer Sure..
If you want to learn about your government listen to economists
We need the gold standard
Buying silver and gold is easy, but it is renowned for stability during economic hard times like this. The main problem is investing in stocks, dividends and even cryptocurrencies to grow your portfolio.... I’ve been trying to grow my portfolio of $190K for some time now, my major challenge is not knowing the best entry and exit strategies ... I would greatly appreciate any suggestions
Just try to diversify your portfolio to other market sectors, that way your portfolio is balanced and you don’t get to make so much losses. Also engage the services of a financial advisor to walk you through
Right, I delegate my day-to-day investing to an advisor ever since suffering a major steep-down late 2019, amid rona-outbreak, and as of today, I'm semi-retired with barely 25% short of my $1m retirement goal after subsequent investments.
once you hit a big milestone, the next comes easier.. would you mind dropping info of your invt-advisor please? i'm in dire need of proper asset allocation in order to achieve an optimal portfolio till year end, thanks in advance ..
Well, there are a few out there who know what they are doing. I tried a few in the past years, but I’ve been with ‘’Colleen Rose Mccaffery” for the last five years or so, and her returns have been pretty much amazing.
I just looked her up on the internet and found her webpage with her credentials. I wrote her a outlining my financial objectives and planned a call with her.
A Convention of States could make the Gold Standard constitutional.
Thanks for posting this. I'll look into that.
It already is , Article 1 section 10
@@Pound_Shift wrong, Article 1 section 10 limits the power of the states not the fed. “No State shall…make any Thing but gold and silver Coin a Tender in Payment of Debts”
Harding/Coolidge economic strategy is a must for today’s USA!
Thanks for posting this. I'll look into that.
It’s mathematically impossible to just return to the gold standard. Even if America alone had all the gold ever discovered which is impossible it only backs about $210 billion dollars at 1950 prices. There simply isn’t enough gold for any major nation to have it be their primary monetary backing. We either collectively trust the government system, or there won’t be a system at all.
Gold can appreciate stratospherically to cover all the wealth in the world. Think about it, Bitcoin which only exist digitally can reach $60,000 or beyond. how much more a rare, tangible metal that has been currency since the start of civilization.
@@rap3208lol…so the answer is to inflate the value of gold. Gold can be manipulated just as easily as fiat. Oh..so you need an extra trillion…gold is now $15k and once.
@@tbe0116 It shouldn't be artificially inflating it. Just let it find its price.Gold is being artificially manipulated to a minimum price because the more it becomes valuable the lesser the dollar's value is. You still don't get it when you say we need an extra trillion tons of gold, i guess you neve will. And no, it will never be fiat, you can't just print it out of thin air. You can't manufacture it. You will have to do the hard and dirty job to mine it out of the ground before you will have an amount. CLEAR?
Peter has covered this. Gold would have to go up to $20k an ounce or even higher
@@tbe0116 It's not inflation, it goes up as it value appreciates. It is finite and rare. It is but natural for it to go up as you let it be. It remained in the cellar because the more it does better, the dollar will do worse. It was manipulated to way below its true worth.
I never thought I would see Shift on the PBD podcast!
Zimbabwe just released it's gold backed currency called the Zig. As of today, it soared overnight to $13.67 per Zig.
Zimbabwe's money is more powerful than that of our shining city on the hill
Thanks for calling that out. I'll be watching it.
Peter Schiff SMARTEST man in the room
Gold is King....The genie is out of the bottle folks!
Wish they would not interrupt so much
Please remind of what happened under Greenspans watch ?
Why did the thumbnail make me think this was an interview with jon stewart lol?
The issue with a gold standard is that you can’t verify the gold exists or if the contents have been tampered with.
And the cost of moving that much gold + trusting someone to move the gold safely
We see what things were like when we had a gold standard and now we know what things are like without it. Which would you prefer?
It doesn't matter what you prefer, the dollar is fiat money, it is not backed by anything but the faith and trust people put in it. Remove the faith and trust and the dollar is worthless, the dedollarization of the world has started and is snowballing. It will be little by little that the dollar will lose value until all of a sudden it tanks. Going back to the dollar will have other people and nations start trusting it again.
I'm telling everyone to get Goldbacks now.
For 30 years, I've managed my portfolio, holding 3 shares of Berkshire Hathaway Class A stock (BRK:A) purchased in the mid-90s around $17,000. Now, I'm selling some to add new Gen. Stocks. Considering market instability, should I reinvest in Gold instead of stocks?
Invest in real estate, ETFs and high-yield savings account or Just buy Gold and protect your assets, the stock market is a rollercoaster. consulting with an expert is mostly advised though.
The market is not necessarily a rollercoaster if you know your way around the market, there are various opportunities in the present market to accrue good profit, If you are not too savvy with the market, just buy and hold on strong companies with good earnings, or consult with advisors on ETFs and actively managed funds.
Great gains there! mind sharing details of your advisor pleas? i've started gaining more cash flow with my employment and looking at putting money into stocks and alternative assets that can help build wealth over time
*Jennifer Leigh Hickman* is the licensed advisor I use. Just research the name. You’d find necessary details to work with to set up an appointment
I searched her up, and I have sent her an email. I hope she gets back to me soon. Thank you
I usually like Peter, but he wasn't answering the question and kept talking over Pat & Tom when they were trying to clarify the question.
Peter was answering their questions, they just didn't listen because they didn't like how he was answering. That's the only issue here.
BUY PRECIOUS METALS….. GOLD, SILVER, & LEAD!
Going back to gold is a good thing.. but with the possibility of fort knox being filled with gold plated LEAD ...that may not be very good
This will start america to buckle up and start working honestly again because it is bankrupt and they can't cheat out of it like they are doing right now. It'll force it to divest itself of the 800 bases around the world and stop its adventurism. It will concentrate more on issues internally rather than meddling in other parts of the world. I think it will be a good thing.
Not enough gold to back the US economy
There is. It will just have to be revalued.
@MrGovernmenthater that's right
@@MrGovernmenthaterto what price?
So you want everyone to suffer rather than a few? That’s what socialism is, which is what we’re going through now
@heinzyketchupy4175 that's why the Dollar is dying. True money is gold and silver. It was written so in our constitution
How do you value gold
Roman soldiers were paid in salt, and in the late 1700s when Australia was a recently founded colony, British soldiers were paid in rum.
I agree with Peter Schiff . I think individuals need to go back and look at what currency is, look at the definition of currency, the Philosophy of currency, where does currency place in natural law and so on. What I am getting at is currency has an absolute definition. Currency must have value and value has an absolute definition too , true currency is accepted by everyone and is righteous. There must be true value in currency, not someone perception or want of what currency is.
The make- believe money we are using now is not true or righteous and look at the problems we are having. We must go back to the Gold Standard.
Oh, you gotta bring Ron Paul on.
Zimbabwe went to a gold standard today and they know hyper-inflation. First country since we went off standard in 1971.
You think Zimbabwe will give their gold away? Or the Nixon way?
In fact Bitcoin is also quantitative easing. The amount of available money to buy something is increasing.
Gold standard would fuck up the economy. The amount of gold doesn't exist or hasn't been mine for the us economy to turn into.
The issue is that we need more sources of low cost loans. All corporations need to offer mortgages !! Simple.
What if NASA reaches that comet with tons of precise metals (Gold included) making it no longer scarce what happens to the price of gold and the countries that live on the gold standard?
😂😂
That’s great 😅😅😅
You’re kidding……right??
Please tell me you are joking 🙃
@@JCS1964-i7wit might be silly now but in 100 years this is a very likely possibility.
I don't agree with Peter on crypto but I do agree with him alot
None of this matters. We're headed back to a gold/silver standard no matter what.
How about a public central bank, instead of a private central bank.
Peter is the best, bar none.
Zimbabwe is trying out the “gold standard” now from it looks like.
You think Zimbabwe will give away their gold?? Or they do the Nixon way?? I think the last one.
This is how you fix the stock market - Only basic trading allowed. No shorts. No longs. No futures. No betting. You go back to the original purpose of investing in companies for the long term and for the economic strength/growth of the nation. It should not be a get rick quick scheme.
Yes. The answer is Yes.
Someone needs to tell this guy about Bitcoin, he’ll love it
Valuetainment mic makes Peter sound younger.
The public is sheep of the system because they live in state of constant need instead of prosperity. Prosperity is Freedom. Freedom is Prosperity. Gold Standard is the only way.
To embrace the gold standard once again, government spending would need to decrease around 90%. And everyone reliant on government benefits would need to get a job and support themselves. You see why this is very unlikely...
Leverage os the problem! Maximum wage over minimum wage! Abolish the federal reserve if you "love free market capitalism" creature feature
END THE FED., BUT WE NEED TO HAVE SOMETHING TO REPLACE IT.
We already have one
It’s called the US Department of Treasury
We just have to get rid of the privately held Federal Reserve and just as Thomas Jefferson said
“The issuing power of currency shall be taken from the banks and restored to the people, whom it belongs
Schiff Rocks !
You’ll notice gold has recently broken its lockstep with interest rates. This was not accomplished through retail demand.
How can you go back to gold backed money unless you can fix the price off gp;d
Peter Schiff is right.
Is there actually enough gold on the planet to actually cover just the deficit of the USA? Much less any of the other countries with deficits around the world?
“Things are so bad, I might as well do the right thing.” Said no politician ever.
Ok well you go gather as much gold as you can for the government, and see if it can replace the entire economy magically. You will never have enough it’s impossible.
At least Peter is consistent to say the same thing since 2008
Everyone says that. But he is right. He was just early.
Roman soldiers weren't really paid in salt, it is a myth. While salt was a valuable commodity in ancient times and was sometimes used as a form of currency, it was not the primary form of payment for Roman soldiers. Silver coins are probably it, a gold coin will be too big for their salary.
Considering the US has x10 the gold reserve at 8500 tons it can certainly work
Wow people are now talking about the crisis in the states too this is such a shock that it was so late not that it’s happening the world knew about this a lot earlier
he literally explains the use case of bitcoin and goes "but gold (more difficult to store, transact with, and verify than btc) is the answer" 🤦♂
What about crypto dollar
I love his apologys😂
1 oz of gold was tied to 35$ how many $ would 1oz be 2024?
Isn't it too late to go back on the gold standard? What happens to all our debt?Do we create a new dollar?
You just convert it to the gold value.
Peter Schiff, with all due respect, spoke of Washington as if they were all good-meaning people. In our experience (and I don't know for how long this has been), history shows the majority of them are not, not caring about long-term consequences due to solely focusing on their own short-term personal gain.
We always talk about the Stimulus checks- what about the corporate bailouts for the banks, airlines, hotels, which result in 1.2-2trillion? While the stimulus checks result in... 300-400 billion?
He that holds the gold loves the gold!
If u cut the spending we hit great depression this is why almost half of Americans jobs are fed 😂
It will correct itself someday.That correction is going to be ugly.
People love gold, politicians love the Federal reserve so they can still and waste our money. We need term limits in congress and elect politicians that want the gold standard back. We need to close the credit card.
I think the public would want the gold standard.
The constitution, Article 1 section 8 Claus 5 says Congress shall "COIN" money and set the value there of .(not the commodity exchange)
Clause 6 (counterfeiting) bacially says if you can't bring a note of credit back to the bank that issues it it's fraud or counterfeit.
A dollar is a one ounce silver coin
Fiat money is unconstitutional
Bitcoin is only $71,000 today 2 weeks before the halving.
It’s not really and it’s a way for the government to track everyone stay far away from it or none of us will be free
the fact that you can sit there and say "only $71,000" without any self recognition of the irony really puts into prospective how out of touch with reality these crypto morons actually are compared to your average person.