"Crushed On Every Measure" - Patrick Bet-David & Peter Schiff Debate The Value of Gold vs Bitcoin
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- Опубликовано: 12 апр 2024
- Patrick Bet-David, Tom Ellsworth, and Brandon Aceto are joined by Peter Schiff as they discuss the value of gold versus the value of Bitcoin.
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Patrick Bet-David is the founder and CEO of Valuetainment Media. He is the author of the #1 Wall Street Journal Bestseller “Your Next Five Moves” (Simon & Schuster) and a father of 2 boys and 2 girls. He currently resides in Ft. Lauderdale, Florida. 
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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
I wholeheartedly concur; I'm 60 years old, just retired, and have about $1,250,000 in non-retirement assets. Compared to the whole value of my portfolio during the last three years, I have no debt and a very little amount of money in retirement accounts. To be completely honest, the information provided by invt-advisors can only be ignored but not neglected. Simply undertake research to choose a trustworthy one.
That's fascinating. How can I contact your Asset-coach as my portfolio is dwindling?
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Aileen Gertrude Tippy’’ for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
I read that Nvidia provides tech for crypto mining services/blockchain transactions. Could the current crypto pump be attributed to Nvidia’s great earnings and should I hold some crypto as well, cos tbh I’m having FOMO with the current crypto price at 64k.
Microstrategy CEO bought $155million worth of bitcoin, so yes BUY!
It’s going to be a wild year for these sectors, so you should def. invest in crypto. 60% of my portfolio is spread across tech stocks, crypto and Crypto/Gold ETFs.
well the crypto market is expected to do way better than any other equity sectors this 2024 especially with the SEC crypto ETF approval but it’s a volatile market nevertheless and if you’re new to it, it’s best to reach out to an experienced adviser for proper guidance.
Yes, my asset manager advised I spread further into mutual funds and crypto Etf and boy am I glad I did. The whole idea is: Don’t get too greedy and also to exit at the right time, so generally I do find having an adviser very helpful, because what Avg. Joe really has time to watch and comprehensively analyse the market.
could you recommend some good advisers? don’t get me wrong, I already have an asset manager, but he seems not to know much about crypto.
Gold isnt supposed to catch up, its not an investment. Its a store of value. Its not competing with stocks or houses. Its supposed to be an anchor in which value can be repeatedly measured, like a measuring tape. The illusion that its going up is only when comparing it to the dollar.
And yet it’s even failing to be that. Gold compared to the m2 money supply is underperforming despite all time high and silver is just beyond a joke.
A store of value that has failed to keep up with inflation the last 15 years.
wrong. supply and demand can ruin that. the reason why its not going up a lot is because the price is manipulated heavily. nothing can stop supply and demand in a free market. no such things that gold isnt or is supposed to catch up. there is no such rule.
gold will be the most heavily manipulated because gold rising is the reflection of fiat dying.
@@kevinnnnn702its literally up 11% nominally since we came off the #Gold standard in 1971. Wtf more do u want? Cause Gold isnt ganna make u rich, it KEEPS u rich.
With all of the current events, what is the best approach to profit from the present market? I'm still debating diversifying my $400k stock portfolio to obtain some profits while minimizing risk.
There are strategies that could be put in place for solid gains regardless of economy situation, but such execution is usually carried out by an investment specialist
Yes true, I have been in touch with a brokerage Advisor. With an initial starting reserve of $80k, my advisor chooses the entry and exit commands for my portfolio, which has grown to approximately $550k
I’ve been looking to switch to an advisor for a while now. Any help pointing me to who your advisor is?
*Sharon Lynne Hart* is the licensed coach I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
Gold is not comparable to bitcoin. Gold won't make you rich today, or ever perhaps. Gold is like owning a fallout shelter. It's a protection measure... I don't know why people want to compare such different things.
I would say it's like putting on a rain coat to prepare for a tsunami what not going to do much for you
Tell that to gold miners. Gonna be a hell of a year
Then why is he only allocating 5% of his portfolio to it? Why is he putting 95% into something else? What is this else? And why?
Please don't listen to Peter and buy Bitcoin. He is simply too obstinate af! One regret i have is not investing in Bitcoin, even after my husband insisted we should. But still grateful i kept my money in the money market. With over $200k maturing soon, i plan investing well in it as a newbie now.
You really want hire a good market strategist to help you with good entry and exit points. A CFP maybe! You dont want to throw away a lump sum like that as a newbie, do ya?
Great advice man! I took charge of my portfolio but faced losses in 2022. Realizing the need for a change, I sought advice from a fiduciary advisor. Through restructuring and diversification with dividend stocks, ETFs, Mutual funds, and REITs, my $$480k portfolio surged, yielding an annualized gain of 28%.
@josephbush Do you mind sharing info on the adviser who assisted you? my porfollo isnt doing well.
She's known as a 'Amber Russell Bennett'. One of the finest portfolio managers in the field also widely recognized. Just research the name. You’d find necessary details to work with and set up an appointment.
Thank you for sharing. it was easy to find her, then I scheduled a phone call with her. She seems proficient considering her résumé.
It isn't that the price of gold is going up. It's just showing that it takes more of a devaluing dollar to buy the same amount of gold
Exactly.
Aka the price is going up…………………..
Oh boy…
I realized that the secret to making a million is saving for a better investment. I always tell myself you don't need that new Maserati or that vacation just yet. That mindset helped me make more money investing. For example last year I invested 80k in stocks and made about $246k, but guess what? I put it all back and traded again and now I am rounding up close to a million.
..
Thanks for continuing updates I'd rather trade the stock market as it's more profitable. I make an average of $34,500 per week even though I barely trade myself.
I'm favoured financially, Thank you Jesus $32,000 weekly profit regardless of how bad it gets on the economy
How
..? Am a newbie in crypto investment, please can you guide me through on how you made profit?
Thanks to Patricia V Vesely.
She's a licensed broker here in the states
4:56 "Everyone should forget about bitcoin" 🤣🤣🤣
Everything eventually finds its true value. The true value of Bitcoin, which is nothing, is nothing.
Look up the tulip craze.
@@dandrake337The tulip craze lasted 3 years. Bitcoin is on year 15. Bitcoin is backed and secured by the energy grid. The larger the grid gets the more secure the grid gets. It's the same "I don't understand Bitcoin, so you're wrong about Bitcoin" argument. Maybe you should study a little.
Sorry buddy. Research Bitcoin, or don't makes no difference to me. Most people who are into Bitcoin know full well about market mania and bubbles in history. This is legit. I've been where you are as well! I'm glad I finally bothered to look into. I'm sure it will take more than 1 message from a random on YT 😂
@@dandrake337 oh thats what many said about the internet also back in 1995. Just do a search on many nay sayers of the internet especially the ones that laughed at eCommerce ... also if you can find an asset that has limited supply, let me know what it is.
Wrong, Mark Cuban.made millions in Bitcoin!
The way that PBD and the people running the show had so much trouble pulling up a historical gold chart really surprised me.
Yeah they definitely are not the sharpest of tools in the shed by a long stretch
It’s a running joke on the show. Whoever rob is, he struggles using google
@@Adam_Confidential The problem is Rob. They need to get young Jamie to give Rob lessons on how to pull things up.
They literally pulled it up in no different amount of time than when Joe Rogan asks to have something pulled up. It's a in the moment show not super scripted. You guys pick at the smallest of things
@@ezew4144 yes that is true however they are pulling up inaccurate information and inaccurate charts which is super important on a podcast like this. Both the gold chart and the bitcoin chart were completely inaccurate charts
If gold hits $5,000 just imagine what a loaf of bread will cost. Be careful what you ask for
The fiance system we're in is going bankrupt guaranteed.
How can a financial system go bankrupt 🤦♂️
@@clayjones553he probably buys crypto and waiting for doge coin replace fiat 😂. That level of finances... It have to be crypto😂
When did you figure that one out genius? There has been people on the internet literally screaming this out at the top of their lungs for the last 15 years now
@@clayjones553 how old are you? And are you being serious or sarcastic?
facts. Stay away from marriage.
When the electricity goes off you’ll still have your gold…. Can kiss your Bitcoin goodbye.
When the electric grid goes down the world is rekt. The only currency will be batteries, clean water, cigarettes, lighters, and sex. Don't be dumb. A bet on gold is a bet on the end of times. A bet on Bitcoin is a bet on the flourishing of human existence.
Peter Schiff ignores the teachings of his own school of economics (Austrian Econ) when he claims that Bitcoin has no value.
"Value is the importance that acting man attaches to ultimate ends. Only to ultimate ends is primary and original value assigned. Means are valued derivatively according to their serviceableness in contributing to the attainment of ultimate ends. Their valuation is derived from the valuation of the respective ends. They are important for man only as far as they make it possible for him to attain some ends. Value is not intrinsic, it is not in things. It is within us; it is the way in which man reacts to the conditions of his environment." - Ludwig von Mises
Bitcoin is highly valued by many people because it allows them to send and receive value without permission from a third party, instantaneously, and will full sovereignty. The gold standard failed because gold is heavy and, therefore, must become centralized into a relatively small number of bank vaults which makes it easily captured by the government, hence Executive Order 6102.
The fact of the matter is that Bitcoin's value is explained by the quote by von Mises, i.e. Bitcoin is valued by many people "derivatively according to [its] serviceableness in contributing to the attainment of [their] ultimate ends." Peter Schiff betrays his entire ideology when he talks about Bitcoin, but he embraces that ideology when he talks about gold. HE IS A HYPOCRITE!
I think you'll have alot more to worry about when all electricity around the world goes off. Not gold, fiat would be of any value
@@Andrew_2414 it was sarcasm lol.... OP made a point that BTC is worthless when there's no electricity. I simply explained that if the world has no electricity, he has alot more to worry about.
Yup. Especially now that Bitcoin has become centralized with the new ETFs.
I trade and invest in stocks, crypto, bonds, and gold. There is a time to invest in gold.
1) 1-5 years before wealth preservation becomes an issue (hyperinflation and world wars).
2) when it is dirt cheap and no one likes it.
3) if you need the peace of mind to sleep well at night.
It’s real simple folks, central banks are buying record amounts of gold but aren’t buying a single Bitcoin. If that doesn’t tell you everything then you can’t be helped.
And yet with this record buying the price hasn’t shot to the moon. If central banks was doing this with other assets they would show massive price hikes.
Thank you! Finally someone with the brain. Gold is gold.
@@mrtuber3491 Both are being manipulated buy the silver and gold exchanges that are backed by nothing.
@@mrtuber3491 Uh, gold is at all time highs.
All time highs don’t mean anything when you’re still underperforming the m2 money supply. Silver was at 49 dollars in the 70s. It would need to be well over 200 today if it was to be a real all time high
What's the big deal? Most people don't buy gold to plan on selling it. It's a physical storage medium. If gold doubles in price are you gonna sell your gold? Is the point of buying gold to sell it and just get paper dollars back? Seems the point of gold is to say I DON'T WANT DOLLARS, give me something physical and untied to dollars.
Next question... Why is there not a 20:1 ratio for gold and silver as noted on the faces of coins? It's all rigged.
Schiff knows that too and will never talk about it
lol silver is not scarce as gold
Exactly, and anyone who knows that Silver is used in Industry, particularly in electronics will also know demand is outstripping supply, but the price doesn't reflect that? Riiiight...
@@PepeCoinMania Not as much gold is used in industry as silver. There's more gold than you realize.
Its rigged.
PBD just proved why he is 20 years younger but $500 million richer than this emotional fool
When you hit $20M your life doesn't change much after that. Minus private jets and yachts, you can do anything the billionaires are doing.
@@bobsimpson9228 I’m speaking to his mindset my friend. PBD sits back and looks at multiple angles for multiple sources. Peter’s point is basically if you don’t think like me you are dumb/wrong. The dollar is weak, but gold is not the end all be all he is claiming it is.
@@wisconsinrf9595disagree. He’s just older and have seen the ups and downs since the 1970s…
Exactly!
@@bobsimpson9228 No you can't, you can't buy google. Hell I can think of a SINGLE AIRPLANE that costs more than $20M, you're smoking crack dude.
Gold and silver are manipulated by price riggers. Be patient. I don't plan on ever having anything digital as it's grid dependent. If you don't hold it, you don't own it.
Peter Schiff ignores the teachings of his own school of economics (Austrian Econ) when he claims that Bitcoin has no value.
"Value is the importance that acting man attaches to ultimate ends. Only to ultimate ends is primary and original value assigned. Means are valued derivatively according to their serviceableness in contributing to the attainment of ultimate ends. Their valuation is derived from the valuation of the respective ends. They are important for man only as far as they make it possible for him to attain some ends. Value is not intrinsic, it is not in things. It is within us; it is the way in which man reacts to the conditions of his environment." - Ludwig von Mises
Bitcoin is highly valued by many people because it allows them to send and receive value without permission from a third party, instantaneously, and will full sovereignty. The gold standard failed because gold is heavy and, therefore, must become centralized into a relatively small number of bank vaults which makes it easily captured by the government, hence Executive Order 6102.
The fact of the matter is that Bitcoin's value is explained by the quote by von Mises, i.e. Bitcoin is valued by many people "derivatively according to [its] serviceableness in contributing to the attainment of [their] ultimate ends." Peter Schiff betrays his entire ideology when he talks about Bitcoin, but he embraces that ideology when he talks about gold. HE IS A HYPOCRITE!
Everything is grid dependent. If the grid goes down you have bigger problems than not being able to sell bitcoin
@@clayjones553 I'm prepared for a grid down situation.
@@whatsoutthere6822Cans of beans?
@@whatsoutthere6822 Your phone, RUclips account, bank accounts, etc. are all grid-dependent. You’re literally enjoying the pleasure of social media technologies-technologies that rely on the internet and electric grid-while proclaiming that you don’t depend on these things.
Okay, fine. I don’t “depend” on them either. But at least I’m not fooling myself.
Right above the gold chart they intially pulled up actually says (inflation-adjusted)
This is what pissed me off the most, they literally already had it pulled up and all they had to do was scroll up a bit on that chart lol.
@@Gold_Silver. Yeah I’m surprised they didn’t see that lol
"what does Bitcoin have to do with it?"...This guy is terrified of Bitcoin 😂
Pure casino speculation of vapor asset. I'm not fan of that guy and like to gamble on BTC but he is right. It has nothing to do with real economy conversation. BTC has MC of 1 T and it's laughable. Every time some whale sale liquidity is gone and all buys go OTC. Not mentioning MC in crypto is most fake indicator you can get. There are cryptos with millions in MC and liquidity of 100$ 🤣💀
hahshahahah for reals , he hates bitcoin so much just hearing the name scares him LOL hater , gold can be mined forever, bitcoin is the best performing asset that cant be controlled.
He’s been bashing BTC for so long, he has to stick to his opinions. He’s old school; he feels like changing his opinion makes him look weak. BTC could reach $500,000 and he’ll still say BTC is going to crash to $0
@@lurker668thanks for telling us you don’t know what BTC is.
Is the world going to go more digital or less? Better do some more reading
You actually think bitcoin can save you from a financial crisis
You can’t beat God’s Money
Peter Schiff ignores the teachings of his own school of economics (Austrian Econ) when he claims that Bitcoin has no value.
"Value is the importance that acting man attaches to ultimate ends. Only to ultimate ends is primary and original value assigned. Means are valued derivatively according to their serviceableness in contributing to the attainment of ultimate ends. Their valuation is derived from the valuation of the respective ends. They are important for man only as far as they make it possible for him to attain some ends. Value is not intrinsic, it is not in things. It is within us; it is the way in which man reacts to the conditions of his environment." - Ludwig von Mises
Bitcoin is highly valued by many people because it allows them to send and receive value without permission from a third party, instantaneously, and will full sovereignty. The gold standard failed because gold is heavy and, therefore, must become centralized into a relatively small number of bank vaults which makes it easily captured by the government, hence Executive Order 6102.
The fact of the matter is that Bitcoin's value is explained by the quote by von Mises, i.e. Bitcoin is valued by many people "derivatively according to [its] serviceableness in contributing to the attainment of [their] ultimate ends." Peter Schiff betrays his entire ideology when he talks about Bitcoin, but he embraces that ideology when he talks about gold. HE IS A HYPOCRITE!
Money is a social construct, not an element on the periodic table.
@ralfbo685, Gold is on the periodic table. It’s symbol is Au. Gold is money. Fiat currency is not.
@@brawndothethirstmutilator9848 money is not exclusively made of matter. We have thousands of years of historical precedence that shows that money can also be an abstraction of favors owed to each other, recorded as a ledger of numbers and transferred to each other by updating such a ledger using single-entry, double-entry, or even now, thanks to Bitcoin, triple-entry accounting.
If money could never be anything other than some material substance such as gold or silver or copper then Fiat currencies would always have been a non-starter never gaining any significant level of adoption, and we would all still be living in the bronze age bartering for things with bits of metal.
@@brawndothethirstmutilator9848 why is gold money? What properties makes it good money?
Diversify. Don’t just buy one asset. Spread your wealth around. Get gold. Get Bitcoin. Get a saving account. Get a 401k. Get a house.
Peters superpower is to use BITCOIN v GOLD debates to stay relevant
When reality hits total ignorance head on. In every measure, Bitcoin out muscles gold. In fact house prices denominated in bitcoin, have decreased in price, not Increased, as they have with gold. Peter is an old man in a rocking chair looking back into the past and projecting it into the future.
The question is who would sale their house in bitcoin? Price is worth what somebody is willing to pay at the end of the day.
It's hilarious that Peter says gold is "mispriced."
The price is whatever people are willing to pay for it.
After decades of anti-propaganda against gold, that is not surprising that people don't hold much about gold, this is short term thinking. The fact is gold is the way you store wealth since the start of currencies all throughout the ages. you want to be the wealthiest, you hoard gold.
@rap3208 oh, it's the propaganda that's keeping the price down.... hmm. No
@@YoPhocFays Work on your reading comprehension
@@rap3208 work on your investing strategy, you need it
@@rap3208 sounds like you're one of the gold investors that fell for it. Lol
Guys don’t be so excited‼️ This is devastating to many of us.
I made more money last month trading shitcoins than Schiff has made in his entire life off gold.
@@LarsLarsen77Do you think Dogecoin will hit a buck?
Do we have the full interview?
I can hear this guy talk all day. He talks from facts/truths. And not from a “side”.
Patrick these cycles take time. Gold is headed to 5000 to 10,000, but it's going to take several years to get there. Everything has it's time in the sun. gold had it's time from 2000 to 2011. Stocks had their time from 2009 to recent. Now gold is starting to move again. Gold will outperform again for the next several years.
It's inflation adjusted high was in 1980. So it's time in the sun was when it was 40% less valuable in real dollar terms? LOL! OK bro.
@@LarsLarsen77 Here's what people tend to do. They want to compare gold to stocks/bonds/real estate/ etc. but they cherry pick starting points. Usually they will start gold at a secular bull market top like 1980 and stocks at a secular bear market bottom again like 1980.
If you even the playing field and start both at the bottom of a secular bear market then gold began in 71 when it started trading freely. The price was $35. It's now $2400. That's a nominal gain of 6900%. Now take the Dow at the secular bear market bottom in 1980 was 800. It recently hit 40,000. That's a 4900% gain.
When comparing on an even playing field from secular bear market bottom to secular bull market top gold has massively out performed stocks (not all stocks obviously and the Dow paid dividends so the comparison isn't quite as extreme as it first seems).
Over the long haul gold has preserved wealth every bit as well as stocks. But one can certainly cherry pick starting points to make one or the other look like it's much better.
We are entering a period where gold is going to significantly out perform stocks for a number of years. Then it will reverse again once stocks become severely undervalued and gold overvalued.
Then you have the whole shift of these traditional assets going into public and private blockchain systems. That'll be very interesting to watch
@LarsLarsen77, You’re using the wrong ratio. Your problem is that you’re trying to measure things in dollars. Measure the value of all assets by gold, the final store of value.
A better comparison would be to compare the price of gold to the average price per square foot of houses. This would take into account the difference in house size over time.
peter has been bearish bitcoin for over a decade do not let him fool you
There should be a note some where in the description of when this was recorded. Am I missing it?
Gold is great in a world with no telecommunications, no air travel, and no fossil fuels. Gold is inferior to Bitcoin in this day and age.
NSA paper How to Make a Mint: The Cryptography of Anonymous Electronic Cash from 1996 explaining the concept of SHA-256? Cryptographer on the NSA paper named Tatsuaki Okamoto/vs. Satoshi Nakamoto and their Obvious similarities? An Enviromentally friendly Blockchain 'computer game'
that needs to use 200 Billion kilowatt-hours of Electricity/ 117 million barrels of oil per year? Chivo Wallet rolled out in 2021 in El Salvador, with currently less than 1% of business transactions actually being completed using BTC? The Greedy push for SEC approval to monitor & control Several Spot ETF'S operated by the likes of Deceptive Black Rock, Fidelity & VanEck? BTC was supposed to provide Stable, Affordable, Secure and Fast transactions, and it's currently failing to provide the majority of these qualities. Is BTC really the Monetary Savior for humanity? or yet another NSA/CIA psy-op playing off of our GREED to gain trust/acceptance into crypto, only to intentionally crash BTC and eventually usher everyone into their state mandated Safe and Effective Dystopian CBDC? If only JFK's head was still here to help explain it more clearly to us all...
BUTTcoin a Limited Supply of Absolutely NOTHING
Zimbabwe just released a new gold backed currency (the Zig) that will replace there current currency by the end of this month...Interesting Zimbabwe just Discovered the worlds largest gold mine in the world
The Zig soared overnight to over $13 a zig. This clearly shows that a gold backed currency is far more valuable than the fiat crap they shove down our throats
Yeah but other countries have trade deficits so they can't use gold backed money. Read a book, dude.
@@LarsLarsen77 And that's why the majority of the world's nations have stopped doing trade in dollars. Soon the dollar will collapse and be worth nothing and all debts are contractually obligated to pay them in dollars. The debts will therefore be worth nothing as well. Economics 101 dumbphukk!
Patrick you crush it every day! Thank you!
PBD can't read a chart but became super rich. Lol
Exact thought I had. I know gold wasn't around $2k in 1981.
But, I'm not a believer that one has to be super smart to become rich. One just has to take advantage of the opportunities. Real Estate was one of those opportunities. What are the next opportunities?
XRP lol.
The big question is if we have a financial or socio-economic catastrophe: which currency will be accepted as a medium of exchange? Will they accept bullions of gold for food? Or USD? Bitcoin? Nobody REALLY knows for sure. This is why I don’t worry about these “debates”. To me personally Gold is overhyped. As Patrick just showed Peter with all those examples. But Goldbugs will never accept that Gold has underperformed. They Always have a reason why gold is suppressed, “in terms of gold”. “Mispriced”.
The demand for gold has always exceeded the supply.
buy Bitcoin & hold forever! , forget about the rest! the rest of the coins they are more like a gamble competing against each other , no other coins can compete against the OG, Bitcoin.
😂😂
How anyone still takes Peter Schiffs opinion on investing seriously is mind-blowing. His funds performance is absolutely atrocious. Up like 2-3%/yr over last 10 years vs. over 15%/yr on the S&P
Peter is drinking that water like the heater is on 😂😂😂
One asset is down 99.99% against the other, this is not much of a competition is it 😅
@Tap_Profile_Send_Sms11215 really?
"Bitcoin is rat poison" - Warren Buffet 🚨💪
Gold is a hedge against societal collapse.
Yeah good luck hauling it with you when it's time to jet 😂
Absolutely not. Any measure shows that in collapse the only hedges are knowledge, and capacity of force. You know what to do to survive and how to survive, provide and you have the force to sustain, and defend until society improves. This is played out in empires throughout history. Gold had nothing to do with someone surviving society collapse ever.
@darioz5894 The fact peter was stumbling around as soon as he showed having a house is more profitable than gold shows, how it's ridiculous to say as peter does all the time that because they use like .03 grams (.01) cents in a smartphone vs say titanium now, which is in the dollars, shows how gold is literally only on the level of the utility of metal, jewelery.....
Lithium, aluminum, plastic, data, and so on are more valuable than gold. No one when the shit crash is going to say I'm glad I got gold. Let me go buy some food with it. Who in thier right mind would try to store such a heavy asset. You would better by far spending gold and cash, and some bitcoin to build real world things i.e bunkers, farm land, guns, renewable energy etc...which is what all the smart people are doing. Bill gates owning hella farm land not for some conspiracy to do stuff to food ots becuase wealth will be transfered to whoever can feed people, The last of us show clearly showed the difference in people who do that vs people who don't and how they get taken advantage of.
@@ezew4144that’s not historically accurate
Correlation between all asset classes goes to 1 during a crash. The hedge fund manager comes out of his office and tells his employees "Sell half of everything" and that includes gold, bitcoin, bonds, everything.
In Peter Schiff's defense. I will say this. Schiff primarily invests in South East Asian businesses. Look at the ETFs for various SEA countries and they went no where for the past 20 years.
It is a big risk investing in emerging markets. That being said Singapore, Vietnam, Indonesia, etc are all much better places than 20 years ago and some of that credit goes to foreign investors like Peter Schiff.
SEA is still in a bear market that has been going on for decades now. The guy is doing fine. Peter Schiff doesn't cry about it. Gold is clearly in a bull market and Peter Schiff is a gold bull, because he buys and sells gold.
Emerging markets generally move with commodities. Commodity bull market and weaker dollar = game on for emerging markets.
You cant take the peak of an asset in the past (1981 gold) and compare it than with the peak of an othrr asset today (houses). Thats not a fair comparison. Of you make this comparison from 1986 the pocture is completeöy different, because you dont calculate qith the gold peak anymore.
Do people realize Bitcoin is a technology, a network and a currency?? You don't think that has value?
Gold will never be at $10,000 an ounce because it is used in industrial processes and it’s used for jewelry. 63% of the gold market goes to jewelry. Supply and demand dictates the price of jewelry and the gold that’s used! Who’s gonna buy a necklace if it cost $10,000 for a necklace? Think about it will be much higher than it is now
Bitcoin operates on a decentralized network, which means it’s not controlled by any government or organization. This can be seen as an advantage, as it makes Bitcoin resistant to censorship and interference. Gold is a physical asset, which means it has tangible value and can be used in various industries. However, this also means it can be difficult to store and transport, especially in large quantities. On the other hand, Bitcoin is a digital asset, which means it can be easily stored and transferred electronically, regardless of the amount.
Asset is a mouthful, you haven't proven that BTC has value
@@Richest_Person_in_the_World Bitcoin holds value as it is a decentralized digital currency that is accepted worldwide for transactions, and its scarcity (limited supply of 21 million bitcoins) drives its value as per the principles of supply and demand.
Who says gold is so valuable? When shit hits the fan!!!
Peter's fund has returned a total of 2.23% over a 10 year period. Total, not annually. Someome please explain why he matters and why PBD didn't question this.
It does need to be pointed out that when your the only asset not pucking up speed with everyone else, theres something awfully strange about that. My two cents, golds a direct competitor to the hustle that is fiat currency
Bitcoin is digital gold and silver is solid they can push one button and no more Bitcoin
What a blatantly uninformed response. How ignorant can one individual be?
Sure any government can ban Bitcoin, but no government can destroy it, there is no entity to destroy.
LOL at "digital gold" when it has no intrinsic value.
“They can push one button and no more Bitcoin”
Han Solo: “that’s not how blockchain works!”
Technically, the true value of Bitcoin would only be unleashed when it is fully linked to energy. Otherwise, Gold has far more pragmatic value. Once bitcoin is fully linked to energy then it would be just as valuable or more so than Gold, but until then it is at a constant flux value which makes it really worthless to investors in general unless they mine it themselves.
I love how these guys have this show to share theiropinions😮
Gold is a hedge against currency collapse NOT against inflation and has a bad history going against inflation. Honestly if the currency collapse there's more things to worry about than gold.
Really? You are basing this statement on math since we went off the gold standard? Are you?
Gold performed about just as well as the top 500 US companies with dividends reinvested in the last 20 years. I'm not saying gold is better than a profitable company, but it doesn't seem to be worse than cash either. Even Peter is investing in companies.
Schiff is a smart man i like his thinking and expertise on gold
Gold moves like a snail! It doesn't keep up with inflation. We hold it hoping for the long ago promised break out that never comes. It wouldn't be surprising if it falls back to 2000.
I think gold has been manipulated thats why it has under performed. Now that Asian countries and others have started to buy it in huge amounts we will see the end of the current manipulation.
Pat 1981 was the peak of the biggest inflation crisis the US has ever seen and gold prices match today inflation adjusted. And we havent even got started yet. That should be concerning.
💯
Now is the right time to sell gold, if u have any.gold money nuff.😂😂.
Hold onto your gold folks
Those that have gold make the rules
@@Logan0osecond sentence facts
Unpopular opinion but gold and btc are BOTH worth having in your portfolio. It doesn't have to be one or the other
That’s a sane opinion. Gold and bitcoin aren’t even the same class of assets. Why compare them as though they are?
we've mined more gold in the last 100 years than had been mined in all of history before 1924. So the dollar is worth less than 1/2 of one penny compared to what it was worth 100 years.
Gold is savings. Bitcoin is gambling. You can win money in a casino, but that doesn't make it a wise investment strategy.
Surprised at how many people still don’t get Bitcoin yet, best money that has ever existed. We are early!
My parents bought their house in 2003 for $180,000. 3 bed 2 bath with a pool. It's now worth over $500,000.
Gold will never “catch up” it’s not a speculative asset, it’s a store of value and a better way to retain purchasing power compared to saving/holding cash.
A lot of the money that would be flowing to Gold as a hedge for inflation, is going to crypto and specifically Bitcoin, as it’s a much better store of value than Gold.
There also isn’t as large of an inflow of new buyers into the gold market like there has been in previous generations. Millennials and Zoomers are stacking crypto, not gold. Saddled with student loans, and high cost of living, you’re not buying gold.
For most people, there’s no cash at the end of the paycheck to even hold on to, let alone enough to think about needing that cash to retain its purchasing power long term.
"It's not crushed if you go back in time and buy something else instead" -- The guy with the worst investment call in the history of mankind.
You guys should get a Tradingview subscription for when you want to show charts
Seriously, He googled long term gold price history 😅
Ask Peter Shiff what the worst investment call of all time was. Then calculate the USD value he lost by not buying bitcoin and show him that NUMBER BIGGER than whoever he thinks the worst investment call in history was.
Talking to Peter Schiff about Bitcoin is like talking to my dog about chemtrails
Talk about over his head
How did that go? Talking to your dog about chemtrails
Mentioning hemitrails explains more than you think 😂. It's even more stupid to talk about it to real ppl with functioning brains 😂 if I be you I would stick to dog conversations 😂
Nah your dog ain’t that dumb
Patrick, you are out of your league with Peter when it comes to numbers...he knows his shit!
So am I buying more gold or not
I agree the economy is masked by the fed numbers. Larry Fink said it that inflation is more like 12%. CPI no longer uses, food and housing cost. But gold to be the safe haven??
Some of the comments on here are hilariously misguided ...There is plenty of gold and other metals to work as a currency ..beside the fact it can be revalued to accommodate 3x 4x 5x ect.. it can be used in both digital and physical form..
PBD Doesn’t understand what money is
How many cryptos went to zero? Almost all of them.
Will something replace BTC or is it like MSFT in 2000 or is it a pump in dump? Everyone has an opinion on it.
I just trade it. I got in last year and I am out. Tripling my money is hard to beat. Gold is clearly in a bull market, but it moves slower. BTC looks like it is topping out.
There's a lot more inputs that go into a home like materials and labor. Inflation brings the price of homes up further than just gold by itself. There's a lot more costs that go toward owning a home vs gold like insurance, tax, etc. There are risks with the home like natural disasters as well. It's not so cut and dry when you account for everything.
Fml 5 minutes to realize you are looking at apples and oranges charts??? Peter said it immediately and was ignored.
Assets beating gold because the assets are overprice. A home shouldn’t be 400k. When they flooded the market with the money during Covid it over price everythign
They are mining gold non stop.... This is why the price will never got up crazy?!?.... The top gold guy doesn't even understand this ... +A big portion will go in BTC
This dude lost me when he said Bitcoin is a scam. He keeps changing his story to make gold look good. He says gold is “mispriced”. Whatever homie. It’s just doesn’t have the same value as before against corner assets
It is a scam tho
Isn’t the price of Gold & Silver determined by “paper gold” and “paper silver”? J.P. Morgan was found to be spoofing silver a couple years ago. You cannot “spoof” physical metals. The prices they’re telling you isn’t relative to amount of metals above the ground. I read an article about there’s estimated 15,000x the amount of paper gold traded than there is physical gold in reserves.
People are starting to demand delivery. This kills the paper market. It's happening.
houses have a lot more stuff in them, too, than 30 years ago.
Should i buy a house im wondering (i haven't got my own house yet).
Im thinking real estate might be a hedge against inflation.
Houses are WAAAY up now because of the demand and small supply due to the USA importing half of Latin America here since 1980. Their kids had kids, their kids kids had kids, and so forth
Gold sucks compared to Bitcoin the chart tells it all ,,, gold don’t keep up with inflation
Things are only worth what people are willing to pay for. That is it. If we talk about risk its easy. Bitcoin is more riskier then gold. The arguments for this is already made and very obvious.
Dude really said since 2000 gold is outperforming S&P lol. What about since 1980 gold still hasn’t returned to even break even. Enough with the nonsense they world doesn’t care about gold anymore
Gold is down so the higher ups can sell overvalued assets and re invest in gold assets, while the people buy the first sold assets
Btc will outperform gold. I’ve got both but think btc will do what gold was intended to do
40 dollar silver is coming. And the war will be over by xmas.
I too fell for this scam once upon a time. Now I want to ditch precious metals but the precious metals industrial complex is like..."oooof ugh oh geez I'm sorry, the best we can offer to an oz of gold is 1600 bucks"
I"m scared to buy any more gold, so I"m buying platinum every month. I can't risk taking the (likely) $500 per oz hit, when the govt drives the price back down.
This is a good time for platinum. Not a bad move at all.
gold isnt beating the s&p. maybe in price but stocks pay dividends gold doesnt
Very few stocks pay dividends
Dividends are overrated. Stock price always drops by the price of the dividend the morning of the ex dividend date so you aren’t really gaining significant value there. People who make a big deal out of dividends over capital appreciation are idiots.
@@kesun32145He was making a specific point and you rambled as if he was arguing in favor of dividends. He’s just saying that you can’t take the S&P’s chart at face value when a percentage of it has been given away through dividends.
what was the world population 113 years ago though? lol.
Paper Gold Contract…That’s why gold is not at 5 to 6 thousand.
"Why isn't gold catching up?" Price manipulation. That means gold is cheap now and has a long way to go!
It kinda proves that fiat is not a failed system
@@Richest_Person_in_the_World No it doesn't. Just because it hasn't completely failed yet, it doesn't mean that it will not fail in the future, sooner or later. Unless someone was born a few years ago and lived till last year, you cant really say that fiat is not a failed system. We have data that gold price has gone up since the US dollar got off the gold standard don't we? The price goes up, despite short term suppression.
Fact's great analogy