Michael Sailor, Michael discussed on The Peter Schiff Show Podcast
Digital gold is used in aerospace. It's used in medicine. You can't use digital goals in anything and you can't use digital bitcoin either. So this is the false logic that he comes out with to try to justify. Everybody needs to own bitcoin. But he doesn't stop there because he then begins trashing every other type of investment that you could possibly own accept bitcoin right because he says what also bought he said. If you wanna buy something and store value for a hundred years what are you going to buy right. So i. He talks about gold and he said well. You can't buy gold because goal is way too expensive to buy. He claims that if you want to buy gold you've gotta pay a forty percent markup to buy that gold and then if you want to sell your gold. There's a thirty percent markdown. So according to michael sailor there's this seventy percent spread in the price of gold. And so that's why you can't buy any gold because you lose so much money in the transaction cost now. I don't know where michael sailor buys goal. I mean he probably doesn't by any gold that's why he thinks it's so expensive but for any rational person who buys goal nobody is paying a forty percent markup i mean are there some people getting ripped off. Yes that's why. I came out with this special report. A gold scams which people can still download because there are these gold companies that rip people off by get him the by these ridiculous quasi numismatic rare coins. That do have these crazy. Forty percent markup so there are some people that are being conned into overpaying for goal but for anybody who does a little bit of research and knows not to fall those scams if they go to a place like shift gold right maybe michael seller does it know about shift gold but if you go to shift goal and buy some gold. The markups are not percent. They're like one to two percent. That's it and it's the same thing if you sell so this. Seventy percent is ridiculous..