35 Burst results for "Schiff"
Report to blame Saudi Crown Prince for death of journalist Jamal Khashoggi
"Report late this week implicating Saudi Arabians, Crown Prince and the murder of Washington Post journalist John Mollica Shoki people who carried out the murder sanctioned but not the crown prince himself. ABC chief Global affairs correspondent Martha Raddatz on NBC's this week, saying many lawmakers are demanding Biden impose some penalty on the Crown Prince. There's a pause in weapons. They may not sell them offensive weapons only defensive weapons, but it's very unclear what that would be. Adam Schiff is saying. Look, the Crown Prince has blood on his hands. You punished the people who carried out the order but have not punished. The person who ordered the
Saudi crown prince reportedly OK'd Khashoggi capture or killing
"A declassified intelligence report released Friday holds the crown Prince of Saudi Arabia Mohammed bin Salman, responsible for the 2018 killing of Washington Post journalist Jamal Kashiwagi, but he is not part of In the report. Some were hit with Visa issues, and House Intelligence Committee chair Adam Schiff tells ABC. I think it's fundamentally a problem if you conclude that the Crown prince ordered the capture, killed but only hold people that followed the orders to account. Saudi Arabia denies the Crown Prince's
US implicates Saudi crown prince in journalist's killing
"I'm anthony davis saudi arabia's crown prince likely approved the killing of journalist jamal khashoggi inside the saudi consulate in istanbul. According to a newly declassified us intelligence report released friday that instantly ratcheted up pressure on the biden administration to hold the kingdom accountable for a murder that drew worldwide outrage. The intelligence findings were long known to many us officials and even as they remain classified have been reported with varying degrees of precision but the public rebuke of crown prince. Mohammed bin. Salman is still a touchstone in us saudi relations. It leaves no doubt that as the prints continues in his powerful role and likely ascends to the throne. Americans will forever associated with the brutal killing of a journalist who promoted democracy and human rights yet even as the biden administration released the findings it appeared determined to preserve the saudi relationship by avoiding direct punishment of the prince himself despite demands from some congressional democrats and kashogi allies for significant and targeted sanctions. Saudi arabia's foreign ministry responded by saying the kingdom categorically rejects the offensive and incorrect assessment in the report pertaining to the kingdom's leadership democrats in congress praised the administration for releasing the report the trump administration had refused to do so but urge to take more aggressive actions including against the prince representative adam schiff champion of the house. Intelligence committee urged the biden administration
Elon Musk says bitcoin seems high after surpassing $1 trillion market value
"Bitcoin surged to another record today after reaching more than $1 trillion in market value for the first time. In a tweet, Elon Musk said. Bitcoin price is quote seem high. The world's richest person was replying to Peter Schiff, a crypto skeptic and gold bug, who said gold is better than Bitcoin and Fiat
"schiff" Discussed on The Peter Schiff Show Podcast
"And they shorted and it kept going up and to minimize their losses. They had a cover and as they cover. You know they have to buy it. In fact elon. Musk himself was really making fun of the shorts. I mean in fact he on his website. He started selling these tesla's short shorts while repairs shorts that he was actually selling his merchandise to to make fun of the shorts because he knew that there were all these shorts in tesla. And tesla is a bubble. I don't care how high it's gone or you know how much higher it might go before the bubble pops. It will eventually pop. That doesn't mean to tesla's gonna go out of business. It probably won't. It doesn't mean the tesla's cars aren't any good. I mean there's probably going to be a place for tesla into global automobile market and may even have a pretty large place but is it going to have a market capitalization that exceeds forty or fifty percent of the entire automobile market cap of all the companies in germany and japan. You know all over the world. I mean tesla's gonna be this huge company. I mean right now. It's got a market cap larger than the next ten largest companies combined now. There's not a chance that that's going to happen just like there's no chance that game stop is ever going to be worth. The price is trading at. That doesn't mean it can't go higher. If in the short run people are willing to pay an even higher price for an obviously overvalued stock now maybe tesla is is less obvious that it's overpriced to a lot of people but a lot of people once they get into tesla is kind of like a colt you know and and musk is the leader of the cult and and so it rationality goes out the window and it's all about musket his personality and so there's a bubble there and i think that the last thing that elon musk wants to happen is for bubbles to start poppin because once they start they may not stop and then you go from one bubble to another and it's like dominoes and if the bitcoin bubble pops will then maybe the tesla bubble can't be too far off so i think the idea for musk is i just gotta talk up every bubble so people don't notice that they're they're that's even why i think bitcoin guys were jumping on the game. Stop a bubble. I mean 'cause they like their comrades they want to support all that and again when it comes to throwing pins..
"schiff" Discussed on The Peter Schiff Show Podcast
"The interesting thing a couple of interesting things about musk comment is that while it did move the price of bitcoin. Back up from where it was at about thirty two thousand. The highest it really got was about thirty foreign change as i'm speaking word about thirty three thousand seven hundred so nowhere near the thirty eight thousand that we got to on the first. Musk pump and i was looking at the premiums today again in the gray scale trust and for much of the day the premium was less than one percent so this is not causing a lot of people to buy bitcoin. Despite the fact that elon. Musk is now. One of the newest bitcoin pumpers. He's the richest man in the world. He's got a huge following yet. People are not following him into bitcoin. Now one of the things. He did say though that i thought was interesting is he did acknowledge that he's late to the party right. He's saying that you know. I should have bought it eight years ago and you know i realize i'm late to the party now. If you realize you're late to the party that means you think the is almost ending. You have a lot of these. Bitcoin pumpers now that are trying to convince people who are buying it. Thirty four thousand that. They're getting in near the bottom well clearly. If musk thinks he's to the party he's not near the bottom and he's not claiming. Hey i'm still early. Because bitcoin is going to a million. He is talking about being late to the party which he clearly is. If he were to join the party he would be very late. And you generally don't want to join a party where you're late at least not when it comes to investing. You wanna be there before the party get started so you can sell it to the people that get their late so i don't think even though. Musk is talking. Positively about bitcoin. I really don't think he intends to be buying a lot of bitcoin. And that is what's out there right. That's what's in on the internet and the chatrooms god now elon. Musk is going to start buying. Bitcoin is going to buy themselves. He's gonna buy it for tesla he's gonna buy it for spacex right. He's gonna get and he's going to get all these other companies because he's so smart and you know if ilan blesses it while everybody else is gonna buy it. Look first of all if elon. Musk really were going to buy bitcoin. And the same thing would apply to ray dallaglio who is now made some positive statements about bitcoin conditional. He's he's like hedging everything. He's saying he's not that enthusiastic less so than than than mosque. But let's say raid dallaglio or ilan mosque. They were actually thinking about buying bitcoin in a meaningful way. Right i mean a substantial amount because these are big guys so to move the needle some serious money in the bitcoin. Right to make it to make a difference in their net worth talking about multi multibillion heirs right so they obviously would need to buy a lot of bitcoin. Which of course is what people are thinking. Well these guys are gonna buy a lot of bitcoin if you really are smart investor and you wanna buy a lot of bitcoin. Do you want to go out there publicly. And start telling everybody how much you love bitcoin. Because if you do that you are going to push up the price..
"schiff" Discussed on The Peter Schiff Show Podcast
"Isn't enough new buying the company itself will crush the market for its own shares by selling stock to capitalize on the fact that the shares are so overpriced. So the whole thing has to collapse. But it's the exact same dynamic with bitcoin. You all of these people who have all this. Bitcoin who have never sold any of it better convinced that they're going to be rich because they believed the price of bitcoin is going to keep on rising the only people who are going to make money and bitcoin other people who are selling just like the only people who are gonna make buddy in game stop are the people who are selling now some people who bought it yes. They only make money because they've sold it the people who hold it to people who buy it and don't sell it even if temporarily they're making money on paper none of that matters because at the end of the day. The market's going to crash and they're just going to be stuffed holding a bunch of worthless paper. The problem with bitcoin is. There's nothing worthless to whole because there is no paper. You'll just have a worthless string of numbers Digitally that nobody. Nobody wants to buy and interestingly enough. You know elon. Musk came out again last night and said some more positive things about bitcoin. Only this time it really didn't move the market very much in fact. Bitcoin had pretty much retraced the entirety of the mosque bounce right went from like thirty. Two thousand and change up to about thirty eight thousand well last night before musk's comments and he he was on clubhouse bowels late on sunday night. I guess it's an audio based social media app. I just read the articles about his appearance on clubhouse. And i read you know quotes of what he said while he was there and very positive comments about bitcoin. I mean more so before it was just kind of big you as tweets. He didn't really say anything he just again. Put the hashtag. Bitcoin in his bio on twitter. And you know so. He didn't really come out and say that he liked it or he didn't like it but this time he actually said that he likes it. He's a fan of bitcoin. He thinks it's on the verge of being adopted by institutions. And all that. And he says yeah. I wish i had bought someone. I i heard about it. Which of course anybody could say that anybody wishes they bought it with the benefit of hindsight all the people at initially looked at it and dismissed it because they understood that it was fundamentally worthless like mosque. Or like me anybody who dismissed it initially. Yes can regret with the benefit of hindsight having not bought it anyway. Just buying something that's worthless and say you know what i know. It's worthless. But i think a bunch of other people won't they're going to be conned. They're going to buy it and this worthless thing is going to go way up and so if i buy now i could cash out and sell it all. The people who don't know is worthless and are willing to pay a much higher price than what i paid knowing it's worthless but that's easier said than done but.
"schiff" Discussed on The Peter Schiff Show Podcast
"You know. I've been meaning to talk about Numismatics again and these rare coins and collectible coins. I've gotten a lot of emails about him. And i just haven't had time to talk about or maybe i didn't see a reason but now it seems like it's a good time to have that discussion because i'm sure a lot of these precious metals newbies right who are foray into the physical market for the first time when they call up some of these dealers inevitably the salesman tries to push the customer into buying a rare coin or a collectible type of coin or something that supposedly has some extra value Way beyond the value of the metal. That is that is in that coin and the reason that these golden silver salesman do this is because they all work on commission and the markups in these so called numismatic coins are maybe ten times as high or more than the markup in a bullion coin so if somebody were to buy ten thousand dollars worth of bullion silver coins just regular no numismatic not collectible not rare just regular Coins maybe the broke rule. Make two or three hundred dollars in in in a commission. Maybe a little more. But maybe it's two or three hundred dollars and then that's the total commission for the firm so the salesman's going to get a fraction of that. Maybe he's going to get thirty forty percent of that but if he can talk you into putting your ten thousand dollars into these so-called numismatic coins the commission maybe two or three thousand dollars maybe more out of your ten thousand so a lot more money goes into the pocket of the salesman but it comes out of your pocket. And the reason i keep saying supposed- numismatics is because they're not really rare. Because there's there's a great supply real legitimate Coin collectors are not interested in these coins because they're rare enough. There's just too many of them and they're not in quite good enough condition but yes. There is a limited quantity of these coins and yet they are generally going to be older they could be fifty years old or one hundred years old and they are going to have some value that is in excess of their melt value but not nearly as much as these coin dealers are pretending and clearly even if they are more valuable. That doesn't mean that the markup should be so much higher and the reason is because there's a lot more competition when you're trying to buy a normal bullion coin and you're shopping around. Everybody is quoting you the price but on these numismatic coins not everybody has the identical inventory. And so it's not nearly as competitive market and a lot of the markups are hidden inside the price of the coin when you're just marking up over spot and it's a bullion coin it's pretty transparent how much the commission is but in these rare coins is harder for people to recognize how much they're paying the salesman and they come up with all sorts of clever explanations for why you need it you know. Get roosevelt confiscated gold in one thousand nine hundred thirty three and so if you buy these rare coins you know..
Reddit-Fueled Stock Rallies Boost Some Bond Prices
"I'm reading about a lot of these companies now. A like an amc or american airlines that have been selling stock now and raising cash and now they can pay back their bondholders. So some of the creditors in these companies. That might have taken a big haircut in bankruptcy. Now they're getting made hall. Thanks to the red riders. Coming to the rescue now. Maybe these guys didn't realize that in trying to stick to the hedge funds. They were rewarding some other big players that they didn't intend to reward but there are going to be a lot of winners in this short squeeze but the big losers are going to be the shorts that were forced to cover but those are the big hedge funds. And those guys you know. I don't feel sorry for them. I mean that's par for the course. I mean there's nothing is risk-free right. You get short. A short squeeze is always a risk. You know maybe this one came out of left field you know. It wasn't exactly what they expected. But then again you know you gotta expect the unexpected. I mean that's that's life right. Some things happen. Murphy's law right anything they can go. Wrong will go wrong. This went wrong. So they're gonna lose some money to people who unfortunately are gonna end up losing a lot of money. The most money are these small investors who are buying into these stocks that these inflated prices. Because it's not just a short covering that's driving the market up. It's a lot of these small guys in these chatrooms wall street beth's who are buying this stock and they are enabling everybody else to sell including probably some of the other sophisticated people that got in on organizing to pump that were probably disguising themselves as little investors looking to get revenge on the big hedge funds they were probably sowing the seeds of this rally and they news a pump and dump and they were dumping after. The pump approved to be successful. Now we'll see if robin hood. The company ends up being a casualty here or ends up. Somehow being a beneficiary mean a lot of people obviously are quite upset at robinhood for shutting down trading in stocks. Now actually you know a lot of people may have been done a favor by robin hood. I maybe that wasn't the motivation. But to the extent that people were prevented from overpaying for stocks that probably saved them from a lot of losses so it probably was a blessing in disguise. But again what people have to remember about robin hood is that the customer is not the retail guy with an account. Because those guys you're trading for free so you have to realize when when you're getting something for nothing there's a catch. There's no free lunch. Robin hood is a business. It's not a charity. They have to make money. And if they're letting you trade for free will then how are they keeping the light side. How are they paying the bills. What's in it for them. Well what's in it for them. Is they take those orders. to hedge funds that derive value from them. What's the value. Well they get to take the other side of the trade. They get to sell what you're buying and make a profit. Plus they also get the information they probably like to know what's being bought what the retailers are buying so they can figure out how to sell it to meditate inflated price and how to make a profit so they're the real customers real customers are these hedge funds that may have put pressure on robin hood to not put through these orders or an a minimum. They just refuse to buy them anymore. Hey we don't want those orders we're not gonna buy your orders to buy game stop. Well then how are they gonna make money. They just can't keep trading for free and then having to pay and lose money on every trade and i have a feeling that they lost a lot of money during this this whole situation so did to basically stop the bleeding. They had imposed these trading limits but to the extent that all this information comes out Then that may really damage their reputation and their brand you know they're raising more and more money they were hoping for an eventual ipo. I would imagine that this would at minimum put that on hold for quite some time but of course what it is doing is in building these regulators to think how we need more regulation. We need to get involved. We need more government. When as i explained in my last couple of podcasts that is the last thing we need is because of all the government that so many small investors have no professional help and are therefore more vulnerable to be taken in by this and the solution is not even more government dissolution is to recognize the damage that government has already done and start rolling back all those rules and regulations that make it so expensive for legitimate investment professionals to work with small investors. Take away all those rules and regulations and allow these guys to get some help so that they can bill the much better portfolio and will not be so vulnerable to these type of internet schemes. But of course the government will never recognize themselves as the problem when they only see themselves as the solution and the more they try to solve the problems the more they compound them and make them
"schiff" Discussed on The Peter Schiff Show Podcast
"Know wall street baths. I think there is going to be a massive short squeeze in gold and silver silver in particular. eventually but. I don't think that it's starting now in less. This is an immediate catalysts for bigger players to enter the market. My gut is that. That's not the case but it will happen and when it does happen. Silver is gonna go to the moon but it's not when you're expecting it. It's not like it's going to happen right away because people are talking about it in a chat room. In fact a lot of people at wall street bats have already figured out that they can't squeeze the shorts in silver that it's too big a market and they're actually advising people not to buy silver. They're saying it's a trap. Don't buy it because we can't do the squeeze of course it's a good investment. People shouldn't by not simply to squeeze the shorts day should bhai it because it's something that you should be long. People should own silver but now a lot of people are speculating. That what's happening. Is that other people who may already be long. Silver are pretending that is wall street. Best that's going to do to silver what they did to game stop because they're trying to get other people to buy silver so they can sell it in other words. They're creating a phony pump that they can dump into. They're trying to pretend that. A big wave of buying coming led by the robin hood raiders from rented and wall street bats when in reality. It's just some other silver. Longs that are generating that phony hype so that they can sell. In fact. I've even read that. Some people are speculating. That it's melvin capital. Because they i think are a large holder of s. Lv and so what people are saying. Hey melvin spreading this rumor that we're all going to start buying silver and they're hoping that we do start buying silver and raised mida by silver by selling our game stop stock which helps melville to willie's if people sell game stop in order to raise money to buy s. Lv while that. Lets melvin off the hook because it puts downward pressure on their game. Stop short but also all this money going s. Lv pushes up the price of salvi. Which enables melvin sell in to that rally and then hopefully by back at a later date wants to price sells off but that doesn't undermine the very strong investment case to be made for silver at the current price and for the silver mining stocks. So this is a much better investment for the people who are trading on robin hood. Then buying game stop or amc or american airlines or whatever. These stocks that they're buying because they're buying stocks that are in a lot of trouble now of course this is very advantageous for certain individuals. Yes it's bad for the hedge funds that were short stocks like game stop but member there are also funds that were long there were likely pension funds or maybe even some hedge funds or mutual funds that were sitting on this stock. Maybe they bought the stock at a higher price. They thought they were bottom fishing. Maybe they thought there was some value there. They didn't realize it was a value trap They didn't do their homework and they didn't do it right. And they bought the stock. These guys have it. Get out of jail free card. I mean it's like winning the lottery. You've got a bunch of this game stop in your portfolio. You're just holding his big loss. You haven't realized it yet and next thing you know. The stock goes up ten x twenty x. And it's like a gift from the trading god's right so a lot of these people are now able to sell their stock..
"schiff" Discussed on The Peter Schiff Show Podcast
"It's easier for a rush of buying. Push up the price of the gts. Jay was up six percent five and three quarters so a big day. But i mean i've seen plenty of days like this over the past year so really. Everything was concentrated in the silver itself and in silver stocks. In fact i think one of the reasons that gold may have had some headwinds. Today is a lot of people do spread these metals. And i think there were people who were probably long old and short silver and they're getting squeezed a bit because now that silver is kind of breaking out on a chart and it looks more bullish. I bet you had some of these traders that wanted a square off those positions and then they had a by silver which contributed to this big run up in the price. But they also had a sell gold to flatten out that trade and so that would put some selling pressure on gold and that might be why gold didn't enjoy a bigger bounce in sympathy with what was going on in in the price of silver. So maybe we'll catch up over the next several days or several weeks there might be some more buying into Into gold but as far as the advice that i would give people at the moment given that we have had a big run up in the price of silver. Is maybe you want to be a little bit. More cautious with your silver buys. I mean thirty dollars. An ounce is a bit of resistance. And i don't necessarily think we're going to move through that level like a hot knife through butter. I mean this is not going to be like game. Stop were you can send this stock up. Whatever it was ten twenty dollars up to five. Hundred as i said in the last podcast red brigade just doesn't have the firepower to really do that. But alternatively this is a real market and everybody who was buying silver. I believe is going to make money if they hold it now..
"schiff" Discussed on The Peter Schiff Show Podcast
"Of the day and actually of the entire weekend wasn't gold but silver the other precious metal heavy demand retail demand. Not just today again. All weekend long sparked by the read. It made the raiders. A wall street. Beth's as i discussed on fridays podcast about the red riders now riding silver instead of simply piling into heavily shortage stocks. We had a lot of buying in silver physical silver over the weekend. You know there are a lot of stories about some of the bigger dealers that were running out of silver. They had posts on their websites that they're out of inventory and so this led a lot of people. I guess in the chatrooms. Thank you know. They're already running out a silver. Remember these online retailers. They just aren't going to sell silver if they can't call their wholesaler and it because they have to buy it from somebody else. They're not just sitting on a bunch of inventory they just act as a dealer and so they go and they buy wholesale and then they turn around and sell retail. Well are closed. Because it's a weekend and they're getting all these orders coming in online over the weekend they're not gonna fill them and they're not gonna take that exposure of quoting price when they don't even know what it's gonna cost him the by the merchandise so i'm sure that a lot of these companies that were out of silver over the weekend. We're able to fill some of those orders on monday. Although not all of them. I know from what happened at shift gold today. That some of our ho- salvors did in fact run out of supply but that doesn't mean that we weren't able to meet the demand because we have other wholesaler relationships that we were able to turn to so that everybody who called shift gold today to buy silver got their order filled. Now i can say that the premiums that were paying now to buy silver over spot for the bars and coins they are higher than they normally are and that is because of a sudden rush in demand because you have a lot of people that were never buying silver all of a sudden buying it in fact at shift gold. It was a record day for new customers. We had a lot of people buying that had never bought from us. Before i mean most of our business tends to be repeat business where customers that have been buying gold and silver from us by some more But today it was a lot of people who have never done business with us buying for the first time in these are the people that are learning about it now from the chat rooms and also we had a very low average order size so people are. It's a lot of orders a lot of individual orders but not quite as much silver. Although there were some big owners in there it was a higher concentration of smaller buyers so first time buyers who have never bought from from shift golden and never bought gold silver and so when that happens obviously the prices are gonna go up because you have to allocate the supply. And the way you do that. Is you let price increase and probably a lot of people who would normally by silver may not have wanted to join the rush. They're probably a little bit more experienced and they want to wait a little bit for the dust to settle. Because there's a good chance that we're going to back and fill and the price of silver will come down in fact. We almost hit thirty dollars today in the futures market..
White House reviewing whether Trump should continue receiving intel briefings
"Biden administration is considering withholding intelligence briefings for former President Trump something all former presidents were allowed to receive House intelligence chair Adam Schiff, saying that former President Trump must never receive another intelligence briefing because the incited an insurrection and would abuse the intelligence for his own game. White House spokesperson Jen Psaki asked if they will block Trump briefings. It's something obviously, that's under review former presidents being a security roof. It's not come up before
Gold Investor Peter Schiff Calls Bitcoin ‘Fool’s Gold’
"We've been talking about the The latest attack here on bitcoin by peter schiff who is just is not to change. He's decided he's going to be against crypto currency even though his own son has apparently embraced it and as recently called bitcoin. Fool's gold timing. It is quote never going to be money. It doesn't fit the very definition of money and What is the definition of my. That's what i wanted to get into here. According to invest a pedia dot com slash looked online for. You know what what was the definition of money. How do you how do you. How do you identify a thing as money. They say here that money should be a currency should be fungible durable portable recognizable and stable. So five different aspects here so they talk about fungibility they say units of the good should be relative uniform quality so they are interchangeable with one another if different units of the good have different qualities than their value for use in future transactions may not be reliable or consistent trying to use a non fungible good as money results in transaction costs of individually evaluating each unit of the good the foreign exchange can take place so is bitcoin fungible. I would say No because my even if i have one bitcoin and you have one bitcoin. We don't have necessarily the same bitcoin. No bitcoin could be tainted through criminal actions or through theft and so there's a company called chain license which they actually maintain record if she analysis or They helped the the prevent theft or now tracked down. If there's a kidnapping or a a robbery of some kind of crypto they help track it through the ecosystem. Because bitcoin is public because liberty and the blockchain can be viewed by anybody. So would that change from an narrow minero is completely private because they use a ring. Ct and stealth addresses which makes minero fungible. Wait a minute. so we're going to narrow. Zero fungible joins call that a valid money but not bitcoin all right. Let's keep going but talk a little. You know bitcoin's not fungible because certain. Bitcoins are blacklisted. If you if you actually attempt to fly certain bitcoins. They'll actually be frozen
Americans who fear COVID at work entitled to jobless benefits
"And would joe biden said is that it's not fair for americans to have to choose between work and health meaning that employers are trying to get workers to come back to work offering them their jobs back. Maybe they were temporarily laid off and the bosses are like you know we'd like you to come back and biden pointed out. If they refuse to go back to work they no longer qualify for unemployment benefits because remember unemployment benefits in theory. Right you're only supposed to get those if you're looking for a job and you can't find one because if you're offered a job and you don't want it will then you're not really unemployed. You're basically retired and so unemployment is not supposed to be a retirement plan. It's supposed to be money to tide you over until you get a job that you are looking for but would biden said is this is in fair. We don't want a situation where somebody loses their unemployment benefits because they don't want to go back to work and the reason of they may not want to go back to work is because it may not be safe right because they don't want to risk getting cove it so what biden has now done with his executive order. Is he saying that if workers don't want to go back to work because they are worried about getting covert or for maybe some other health related reasons or maybe they have some other things they have to do right that interfere with work that they're able to turn down a job offer yet still get their unemployment benefits now. This is a disaster in the making. This is a moral hazard of extreme proportions. And what it really amounts to is the beginning of universal basic income now on the surface right. It probably sounds compassionate. Yes why should people have to choose between work and potentially getting sick right but we make that choice all the time. I mean everybody who goes to work gets a risk. I mean there's always a risk that you can get sick at work if it wasn't cove it it's something else i mean. Clearly if you stay at home you are less likely to catch a cold or any other disease that if you go to work and you interact with other people. I mean clearly if you get in your car and you drive to work well. There's a risk that you might get into a car accident and you could die but you still go to work and there are a lot of people that actually have jobs where there's a lot of risk they operate heavy machinery. They could get hurt. You could die people working minds. The mind's cave-in they died so there's all sorts of risks that people except when they go to work so people choose you choose between going to work and accepting the risks and not working. Now if you choose not to work then you lose your in cup. So people always way the benefits with the cost. Yes if i go to work. I could get hit. I could die in a car accident on my way to work. Or i could catch cold or i could slip on a banana peel. It is an or whatever. I can avoid those risks by staying home but then i don't have any income and then what risks do i have if i have no income right. Maybe i don't have enough to eat. So i don't have enough to pay my rent now. I'm homeless. what are the risks. So that so everybody has to trade off or the cost benefit analysis and most americans are going to choose to accept the risks inherent with going to work in order to avoid the risks inherent with losing. Your income biden wants to do is totally skew. The playing field. He wants to make it. So americans can say you know what. I want to avoid the risks associated with working. But i can still have all the money. I can still get paid to stay at home. And now i get the money and i don't have to take all the risks associated with working. So this is what's going to happen. You're going to have a whole category of americans. And i'm not blaming the americans for making a rational choice. I mean why. Go to work if you don't have to if the government gives you an excuse not to work take advantage of it and if you don't somebody else will look. I agree. everybody. Who goes to work has a risk of getting kovin right now. You reduce that risk by staying at home so that means everybody by definition can say. I don't want to go to work. I don't wanna take that small risk of getting coded. I'm going to stay at home and collect my extended unemployment benefits so these people are not going back to work and most of the people who are unemployed. Joe biden has made it so that they never have to go back
Google And Facebook Under The Mistletoe?
"Here to go over the google lawsuit with us is alison schiff. Whose coming down the chimney as we speak to drop some under our tree even though she's jewish elo alison. Hello and emphasis on the ish part of that honestly. So there's a lot of juice in the the texas ag lead lawsuit but before we get to that let's talk header bidding. What did we learn about. How google responded to the threat of header bidding Years ago right so in in an attempt to reinject competition into the marketplace just as just a quick scene setter in a publisher's devised a new at the time innovation called header bidding which is a trend that ad exchanger covered the absolute bejesus out of And then by two thousand sixteen something. Like seventy percent of all major publishers had already adopted header bidding so google realized right quick that header bidding posed a threat to the dominance or sorry the alleged dominance of its ad exchange and also the The information advantage of being able to trade on non public information from one side of the market the other because they're both controlled by google and there are actually internal google communications. Apparently that are cited in the suit in which google makes it pretty apparent. Pretty clear that it's aware that header bidding is a threat so what you did in response to that threat. According to the suit is they allowed publishers to use its ad server to route inventory to more than one exchange at a time so you know a a unified auction but all the while they were secretly letting their own exchange win even if it hadn't necessarily submitted the highest bid and someone over google must really love star wars by the way because the code name for that program was djeddai and the code name was redacted in the public suit. But there's a wall street journal story that's out from From last week and it's They got their hands on and unredacted draft of the suit before it went public so there are some interesting nuggets in there. Like the code names for things. I'm glad you mentioned how addicts ginger covered the jesus out of header bidding. Because as we all know. But jesus says the reason for the season sorry tat. Now please please bring. Actually you actually mentioned the unredacted lawsuit that the wall street journal gotten actually. That's something that really struck you. I think when you were recording or new reporting initially on the publicly filed lawsuit a so many reductions what what did you make of. That was that was that. Was that striking to you. I mean it was annoying because a details that you'd like to to read as someone who's poured a cup of coffee and sat down to core over a hundred and thirty page document I mean it was the first couple of actions to be honest. Ooh this is. This is official. This is sort of exciting. It got annoying because over these massive blocks text at you couldn't read but apparently it's it's really not uncommon given the sensitive nature of a case like this to redact things that are considered a proprietary. So i mean there was a lot of redaction. It's a long suit though it's annoying but it's not anything. That's super weird.
Schiff on COVID-19 surge in Los Angeles County
"Schiff before we dive in. There's obviously so much news we could cover with you. But we did just hear some reporting on the dire state of California's hospitals and particularly the state of L, A county hospitals. Where your district is located. The country's attention is on L A now the way it was on New York City at the start of the pandemic. What's life for reaction to that news? And is there anything on a federal level that could help? There's a lot we could do in the federal level to help and it's going to be absolutely essential that we get the money in this relief package out as soon as possible to help. With the related economic crisis, But we need to ramp up the provision of these vaccines. We need to make sure that we can purchase anything available. New vaccines coming off the production line. This is really essential on I think, at the same time. We need to make sure that we do something we haven't done for the last nine months, which is have consistent Messaging about wearing a mask, maintaining social distance, taking the pressure off our hospitals until people can get vaccinated. Even then there's gonna be a period after vaccination while we have to wait for much of the country. To get their shots before life can return to normal. But in this crisis where and it is really unmistakable healthcare emergency We need to do our part to stay out of those hospitals by keeping ourselves safe than keeping our families safe, which is, you know a lot to impose on people during the holidays, but Anyone who's been through the covert experience and had to go to the hospital and or been on a ventilator would be the first to tell you that it's worth the sacrifice to have a smaller holiday season, not travel. Maybe not be with all your loved ones to keep yourself and them safe.
Walter E. Williams: Conservative Economist on Black Issues
"There's two. Great free market economists. Walter williams was one and thomas. Seoul was the other and i think i remember. I forget if whether it was walter. Williams i think it was thomas. Soul who mentioned on an interview that when he spoke to walter williams they joked that they should never both fly on the same aeroplane because if that happened and the plane went down the only two black conservative economists would be gone and so that would be too big a tragedy so to make sure that didn't happen. They should never both fly on the same mayor plane. But both of those guys. One of the things that i think was so special about them is that because they happen to be black and these guys were great economists regardless of their race but what made them so special is being black and saying the things that they did right. It made it much harder for people to attack them as being racist right. Because both these guys. Walter williams and thomas soul are staunch opponents of the welfare state of the great society war on poverty programs of these anti-discrimination laws. They don't like any of them and they do an excellent job of explaining why these laws why these well-intentioned laws are so counterproductive. Now of course if a white guy were to make the exact same statements. While you're racist right well you take that weapon away. If the guy who's making those statements happen to be black. How are you going to say that. That person's a racist. Now i know sometimes they say all. They're an uncle tom. But maybe that doesn't have as strong a connotation as as as being labeled a racist was very important to have these guys out there and have them as role models right so younger. African americans could look up to these guys. You know what yeah. They're not all left wing there on all a bunch of socialists. Here's some african. Americans that are free market. Libertarians steadier out there defending individual liberty and the constitution. That are objecting to all of this. You know race baiting and poverty pimps and everything that the left is doing that whole agenda these guys walter williams and thomas soul were excellent advocates for the opposite for the free market and and they did a good job of exposing the hypocrisy and the fallacies of of the left.
Democratic leaders blast Trump's pardon of Flynn
"President Trump has pardoned former national security adviser Michael Flynn, who pleaded guilty to lying to the FBI in connection with Trump's Russia contacts before the inauguration. Flynn later tried to walk back that guilty plea, NPR's Ryan Lucas has more. Flynn became a rallying cry of sorts for Trump and his base and allies on the hill, who have felt that he was unjustly prosecuted. They welcomed this part. Republican Senator Lindsey Graham, a key ally of the president, for example, called this pardon of good move. Democrats. On the other hand, unsurprisingly declared this corrupt. The Democratic chairman of the House Intelligence Committee, Adam Schiff, said that this was an abuse of the president's pardon power. He said that Trump is using it to reward his friends and political allies and protect those who lied to cover up for him. NPR's Ryan Lucas
Trump Pardons Michael Flynn
"That after he pardoned. Michael flynn is x. National security adviser flint pleaded guilty in two thousand seventeen too long the fbi about his contacts within russian ambassador sergei kislyak. It was one of the first major courtroom. Victories for special counsel robert muller but about a year ago flint tried to withdraw that guilty plea. His attorneys argued that he'd been trapped by people like fired. Fbi agent. peter struck fox's kristen fisher house intelligence committee chairman democrat. Adam schiff who helped lead the impeachment inquiry says the president has repeatedly abused the pardon power to protect. Oh soup covered up for
Richard Schiff Hospitalized After Testing Positive for COVID-19
"Treatment for covert 19 and was hospitalized for his treatment as well. He tweeted last week that he and his wife had tested positive for Corona virus and said he's taking rendez severe and steroids as his treatment and was also receiving oxygen. Ship is well known for his roles in Man of Steel, Jurassic Park, the Lost world and, of course, long running television series. The West Wing on top of starring with his wife in the Good doctor will positive news coming from Oh, dear now, and their vaccine couldn't come soon enough. As the
‘The Good Doctor’ Star Richard Schiff Reveals Positive COVID-19 Test
"Entertainment NEWS. It's been a tough week for the good doctor star Richard Schiff, who says he and his wife after Sheila Kelly or battling Cove in 19 was scared that the world is going to be the same again writes in a tweet that he was diagnosed on election Day
"schiff" Discussed on The Peter Schiff Show Podcast
"I wanted to get Peter Schiff on they would call me up and they would book and sure enough they would end up being canceled and then they would never book me again because they they somebody would would tell them and then somebody else would join and then they would book me there would get canceled and then you know home and I would tell them look I'm not going to be on you can book me but there's no way I'm actually going to be on and then I guess at some point. I mean nobody's even tried to book me now and it's so long now because nobody books me on CNBC either off. So none of the people that used to go from there to Bloomberg are you know, they're not used to booking me there either. So I mean I might oh, by the way, by the way, I might as well plug I will be on the claiming countdown tomorrow live with Liz claman her show starts at 3:00 Eastern time. She does the hour the county jobs. One of the closing bell and I'm on her show tomorrow. So check that out live be talking about the election and not applications. Obviously, you know, nothing new because I'm I've been talking about that for hours here. But yeah, watch it, you know support FOX business support Lives having me on because you know, she's the only show where every once in a while I get on a few other shows over at Fox or Fox Business not but yeah, not nearly as often as I should be on. You know, I have a feeling of Joe Biden becomes the next president. Maybe they'll have me on more cuz I will be I will be one of the biggest critics abided and what's going to be unique about me is I will be in a better position to criticize Biden than just about anybody else. Because I also criticized Trump when he was running up the deficits and running up government spending. So it will be very difficult for a lot of other Republican commentators who were not criticizing Trump to then criticise Biden for doing what Trump did and they didn't criticize Trump. So I'm somebody that can be brought out to be a credible critic of what Biden will be doing and the negative impact it will have on the economy. So maybe I'll be able to be on Fox a lot more often when they know that I'm going to be criticizing Biden and not Trump but you know, even though I've had negative things to say about Trump. It's not like MSNBC or CNN a invited me on so I can bash, you know big deficit spending Trump because I criticize Trump for the wrong reasons as far as they're concerned. See I don't I don't dislike Trump off. The same reasons that CNN doesn't like them. I got completely different reasons, you know, I I don't like Trump because he's not trumping a tall enough. He's not doing as much as he promised to do. He's he's not draining enough out of this swamp. He's not he's not really shrinking government cutting government spending and and and and and and more deregulation right off. And so the left doesn't want me criticizing Trump in the manner that I would be criticizing him. I think that's that's the problem because they had me on when I was criticizing Bush I criticize Bush, you know, George W bush a lot and CNN had me on MSNBC had me on to criticize Bush. They stopped having me on what Obama became president cuz they didn't like my practice ISM.
"schiff" Discussed on The Peter Schiff Show Podcast
"Peter Schiff Show Well, I'm back everybody. I am back in my home office in Puerto Rico. It is election-eve twenty-twenty and I am sitting back watching the returns coming in. I'm going back and forth on my my remote between CNN and fox looking at the returns. I know some states are about to close. So we'll get some more of the results in I just decided to kind of go live to give my thoughts on the election an implication for the economy and the markets. In fact, I'm watching the financial markets trading and right now they all seem to be moving in lockstep in the same direction earlier this morning are not this morning earlier this evening rather maybe an hour or so ago. The stock market was up foreign currencies were off. Gold was up and Bitcoin was up and they all turned around at the same time stocks went down foreign currencies went down gold went down and and not join went down. So everything is kind of trading together. I guess as people jockey for positions based on what they project the outcome of the election to be and how they feel those outcomes are going to impact the markets and you know, I think the main thing that investors are looking at is not really the economic policies of the Republicans or the Democrats, but the Federal Reserve and which combination for the house the Senate and the White House will produce the most stimulus both fiscal stimulus coming from the government and monetary stimulus package. From the FED. I mean everything else I think is immaterial because that is the engine that drives the train of the markets and it is the Fed so it's what is going to cause the feds engine to rev highest and I think the markets are convinced that abide in presidency with a Democratic Senate and a democratic house. Otherwise known as the clean sweep. The Blue Wave is what everybody is going to surf into big games big profits in the stock market. I think the worst outcome for the stimulus junkies is a Biden win with the Republicans maintaining control of the Senate. I think that that is the only Dynamic that will slow down the stimulus Juggernaut. I mean, it's not going to derail it but it may slow it down because the only chance That Senate Republicans are going to find religion on the debt is if there's a Democratic president. There's no way they have the guts to stand up to a Republican president. But sometimes when their role is opposition they can act in opposition to bigger government or bigger deficits. And so I think that is the one outcome that will be problematic for people who want stimulus now they're going to get stimulus. It just will be a smaller dose than what the markets want. But of course the biggest irony when it comes to stimulate choice is the more stimulus we.
Millions of Americans genuinely love Donald Trump
"Millions of Americans sincerely love Donald Trump. They love him. In spite of everything they've heard, they love him, often in spite of himself. They're not deluded. They know exactly who Trump is. They love him anyway. They love Donald Trump, because no one else loves them. The country they built the country their ancestors fought for over hundreds of years has left them to die in their unfashionable little towns, mocked and despised by the sneering half wits with finance degrees, but no actual skills who seem to run everything all of a sudden. Whatever Donald Trump's fault he is better than the rest of the people in charge. At least he doesn't hate them for their weakness. That's Tucker Carlson, trying to explain the trump phenomenon. I don't know if he saw the 95 Mile Long Trump parade in Arizona over the weekend, and then that crowd that looked like Pope John Paul. The second had landed in Buenos Aires. It was absolutely incredible. There's never been a politician that has this sort of Ah Base backing similar examples all over America, too. I mean, just astounding. I personally will never love a politician just not in my nature, but that whole You know towns across America that air despised by all the elite. I know I'm from those towns. I know that I know that feeling everybody on TV, whether it's sports stars, musicians, politicians, whoever just, you know. Mock you and thank you. You want to be us? He just can't be that whole crowd out there. That has talked to that way all the time off. They couldn't be more enthusiastic about voting for Trump. Whether that's enough people to show up today and get him over the top. I have no idea. And if he didn't have the personality he had he would win. Oh, yeah, he would win in a landslide. Is the entire media against him? Yes. Was the Russian collusion hoax? Something close to an attempted coup? Yeah. MIA when you consider that Adam Schiff and Nancy Pelosi and Chuck Schumer knew all along that what they were saying was untrue. All those things are true. But Trump could have won in a walk if he wasn't so, Trumpy, But you know, life is like that being Trumpy is what got him. Worry. Worry is Yeah, it's often difficult to tease out those variables. O all of us have that problem. What my successful because off And what of my successful in spite ofthe right? We're all trying to figure that out. When you die.
U.S. says Iran, Russia was behind threatening emails targeting voters
"Two weeks until the election, and U. S officials are disclosing that Iran and Russia trying to influence the American election, Thie F B. I says Iran pretended to be proud Boys members threatening voters if they didn't choose. Trump and Director of National Intelligence, John Ratcliffe says Iran also made a video about fraudulent ballots that implies that individuals could cast fraudulent ballots. Even from overseas and now California Democratic representative Adam Schiff questions Radcliffe's timing and wants more information about the underlying intelligence that led to the conclusion about fraudulent ballots. The director has been willing to on a political and selective basis, declassify and make information available publicly in order to suit the president's
"schiff" Discussed on The Peter Schiff Show Podcast
"Is because people want to get rich. With conducting electricity or making jewelry. Do that cell phone companies that are putting gold in their cell phone. Why are they doing net? And where are they getting the goal that they're not buying it? How big? How big of the gold market is the cell phone? But it's part of it. They're buying it. They need it I mean. Why don't they use something cheaper? L.. Phone Companies Accept Bitcoin so obviously. BITCOIN has value, but they don't use bitcoin to make the cell phone your. Cell Phone, but they use it. It's all computers. All those computers that are mining bitcoin have gold inside those chips to make the bitcoin unique. You can't even make bitcoin alcohol. But again, if plus gold isn't money, gold as a commodity that people use to putting computers note, but the definition of money is the most liquid commodity in order to be money. You gotta be a commodity first and then become money you can't get. Morning. Right, the money do think gold is a bigger commodity than computing power. Computing power isn't a commodity you commuting the power is you create the computing power using commodities the power itself isn't a commodity. You. Don't think computing powers that commodity. Now. Peter Come on it's. Wedding we live in a digital world. Come on. So what? You think. Of Commodity but the computing power of Bitcoin doesn't do me any good i. mean the computing power on my laptop right now helps me because it's powering my laptop. It's enabled me to have this conversation with you, but if I had bitcoin that wouldn't be enabling anything, I wouldn't be able to do anything with bitcoin except hold onto it to give it to a greater fool. That's all I can do with. BITCOIN is give it to somebody else and the. Table is better protection of your wealth. You're missing. Bitcoin has served as a better protection of your wealth in gold for the last decade. No served at. Fact that. You can't do you really. There is just for the last decade. If you put your money in gold, Bitcoin Bitcoin is protected your wealth better than goal. Okay, let me ask you a question if A Guy came to you now, right? Let's say guys got you know I. Don't know ten million. People talk about young people. No I'm talking about retired guy that his main goal is to preserve. The wealthy has right now. He doesn't want to wealthy, has he wants to make sure that he's GonNa be that his wealth is conserved. Would you be comfortable? Telling that guy to take his ten million dollars is life savings and put it into bitcoin. Nobody would you tell them to put his life savings and gold? What I if it was a choice between us?.
"schiff" Discussed on The Peter Schiff Show Podcast
"Would be one thousand nine hundred dollars, and you would be debating a guy on the Internet about what currency would accept. I don't know, but I knew that bitcoin could get the ten thousand again. Why not I mean? It's been there several times before I knew eventually goal was GONNA get to nine thousand nine hundred now again. It's nineteen hundred thirty right now. A check it again. I mean it's just over nine, thousand, nine, hundred thirty, but you know here's one of talk. Why is there so much fake gold in the world? Why do I keep seeing articles about fake gold? Articles about it because it's so rare that they have to write a story about it when it happens, but you know what it's easy to make sure you don't get fake goal. What out by your goal from shift goal? None of our bulbs fake, but you know I know it's not fake. If we sell reputable coins, you know the mints you know where you know who made it you know, and of course if you don't get. In order to ensure that I buy real gold after trust Peter Schiff. No, you trust the brand of the coin and you could, but you obviously if you get a big barns, let's say you get a big hundred dollars bar goal right, and it's not from amid that you recognize, and so you way. You gotTA. Test it you. There's a way to test to know of. It's real goal, so if someone just gives you a bit hunk of goal and. And they claim hey. This one hundred houses yeah, you better test to make sure, but if you get a one house maple leaf made by the Canadian Mint and you can see. It's a maple leaf because you've seen one before, and you look at it, and you see you know, and you can make you drop it and hear hear what it sounds like. You know it's a legitimate coin. It's not going to be a counterfeit in. You know it's probably. Easier to tell counterfeit gold point than a counterfeit bill, somebody can counterfeit. Bill and you look at it, and it may look exactly like a dollar bill. It's easier to counterfeit that legitimate. You know one ounce maple leaf. Try to put something other than real bowling there. It's not going to sound the same. It's not gonNA leader. There's no there's no conversation ever in the Bitcoin community about bitcoin. Look. I'm not saying that improving. That's the. Goal gave Giverny. And the Bitcoin community knows. Here's the thing is though. Fake goal wouldn't have the same properties as real, but fake bitcoin could be same as big quite as big one doesn't have any properties to fake. You know, get your. Old It's not gonNA. Work Right. It's not going to conduct electronic the same right. You're not going to be able to do with the fate goal do. In your investment thesis, do you buy gold because it can become jewelry or it can conduct electricity? That's what gives it its value the fact that. Run out. Because lie ever in gold on. Run have value because it can be used for jewellery goal has value because two people believe it has value, and it's a belief system if Gordon. Money actually conducts electricity it actually is using cares. Nobody is using is buying Gobert Peter, Schiff, and enduring a conducting electricity with, but that's creating legitimate demand for goal in. No it's the demand for..
"schiff" Discussed on The Peter Schiff Show Podcast
"That probably not not into Toshi. There's a shitload. Out there. There's more gold. But By rand. Go back. Don't change the subject. Hold on it. Do you agree that Bitcoin is more scarce than gold? It. You know I. Know that there's twenty one million bitcoin. Okay, and so if you're going to say, are there more than twenty one? If you WANNA, compare one big onto an ounce of gold. There's more ounces of gold than bitcoins right great. Yes, so. So as demand increases, if the our demands going to increase, what if it doesn't? It has for eleven, years and demand? Demand increased for Bitcoin this year. Than Goal? Because the prices, no. Are Ernie five percent, but the amount of money that went into Bitcoin to make that. Thirty five percent move is tiny, compared to the amount of money that went into goal, so if you want to measure the dollar demand for gold year to date, it dwarfs the dollar demand for Bitcoin, but it's all relative. Is it not no talking about what's their more? For. There's demand for actual gold. There's not as much demand. bitcoin is being bought by very small community in the world. There's not that many people who are really buying bitcoin and it's. On you just! Millions of people doing it. They're small. The. How much does the average guy have? Most of the big money is concentrated in just a handful of wallets, whatever it's one hundred or two hundred thousand. Then the average person has got. He's got like a fraction of a bitcoin. Hold on. One Full Bitcoin. World! How? Many people I don't know the exact number, but. It's not that many. I. Bet you, it's millions it can't be millions is not that. No, there's no way millions of people own one bitcoin well. Hold on if they put on. If three million people owned one bitcoin that would mean three of the eighteen point, four eighteen point, five million bitcoin that are in circulation right now would be in the hands of those three million people, and then everyone else would the. I don't know for sure, but I would be surprised. If three million people had one whole bitcoin. The addresses I don't hold on a second. On top of that though again going back, bitcoin is more scarce than gold. Gold has an infinite supply and ravaged infinite supply. What's what's the total amount of gold available I? Don't know how much goal is still in the Earth's cross to be mine. Right anybody. I don't know probably not see what happens tomorrow is somebody puts a rod in the ground, and they find enough goal, not going to. It's never happened. Never. There will be discoveries, but gold is extremely rare element in the earth. Right if you look that, they're lying I, think they're lying to you about being..
"schiff" Discussed on The Peter Schiff Show Podcast
"The percentage chances that bitcoins market cap reaches the equivalent of gold. Is under one percent I don't know how low I think I. Just think it's very very Pie in the sky. I mean my saying it's impossible. I mean Elliot's can come down from outer space. Right nothings in. May Be here based on the New York Times relaxed, but but you know look. I would rather bet that silver goes back to fifty. That's more reasonable bet. What is it at now? What is so funny for twenty four right? Breaks her hits fifty dollars before bitcoin. It's twenty thousand. Probably, but you know. But I would i. don't I think the chances of Bitcoin hitting twenty. Thousand are a lot better than you know getting to. The market kappa goal I mean. Of course to get the twenty thousand is one thing, but if it gets the market cap of like four, hundred, fifty thousand. There's just no way that's going to happen plus the price. No one on hold on hold on, be careful. There's no way. Coin is going to do that. I don't think so I mean okay. It has an infinitesimally small probability of of that happening I I. Don't think it would sustain it. I mean if the bubble ever got that big. I do believe that look if the people who have been selling bitcoin if they back away if they stop selling right? The new buying could come in, and it could drive it back up to twenty thousand sellers back away. They're going to because. You. Still got all these people that came into Bitcoin at a much lower cost basis that want to cash out I, mean they they? They're looking to sell in the any kind of height, right? To be fair to say that bitcoin gold both benefit from the devaluation of the dollar because they're priced in dollars. Well to the the bitcoin benefits from it to the extent that people perceive that bitcoin is a safe haven from a weak dollar. The dollar is going to get a lot weaker. See the. People in the Bitcoin community who are worried about inflation and a weak dollar big absence, there are one hundred percent right I agree with them one hundred percent. And you know I think it's funny, too, because you'll find some of these guys in the mainstream like some of these guys on CNBC, go on there, and they they they somehow they become pro bitcoin, but they're not anti dollar. They think everything is great, they like. The US communist great stock market is great fed. Those guys are geniuses, but then, but then they're into. Bitcoin doesn't even make any sense I mean legitimately. If you think the Federal Reserve is doing a great job in the dollar sound, it makes no sense for you to be in favor of coins is only if. Believe. The dollars not sounded is GONNA. Is GonNa. Lose value in the. We're pretty too many dollars in is coming. That's when you know you potential you could you could, you could go to Bitcoin? I just think people governor. WHY WOULD I? And then scenario, why would I go into an unlimited supply asset like what gold? Gold Supply there's not an unlimited supply bill there's. Limited supply it's the they. What is the limited supply of gold? The amateur traveling much in the earth, but this applauding does is. The supply of goal ever since we've been mining goal, gold disapply increases by about one percent a year. That's it that's. Do you know that that because it has to be mind and has the bureau?.
"schiff" Discussed on The Peter Schiff Show Podcast
"To be at one thousand nine hundred silver is going to be twenty four whereas Bitcoin GonNa be. You'd have been like Oh fifty thousand one hundred thousand you. have been saying. Oh, because it'll be a ten thousand. There's no way thought it would still be here at ten thousand. But but I think you're missing the point which is, it's not so much about since the third having which happened in May right to today. We're still talking about only about sixty seventy five days. We're only seventy five days out in the reason why I asked you earlier. How much gold? Produced, today we. We've got. We've got decent ideas. We estimate we can do all the stuff with the miners whatever we actually don't know, and then when I say how how much gold is out there in circulation. We don't know for sure, but we've got estimations. The beauty of Bitcoin is when you try to forecast price. There's supply and demand that goes into that we know with one hundred percent certainty. How much bitcoin is in circulation and we know that every day right now? Nine hundred big corner, getting created, and so all you have to, you have look at the demand side and demand continues to rise for an asset. Gold is scarce, but it's not artificially capped right. There's unlimited supply of goal, but. I agree with you that the supply of Bitcoin is finite, assuming you ignore all the competing crypto currencies and all the works and stuff like that. But, so you know exactly what bitcoin supply is going to be. You don't know is what the demand is going to be because. Capri people don't look. After eight. Golds, two man could evaporate. has evaporated in thousands of years. What why would it evaporate now in fact, he? Hasn't evaporated in eleven years. WHY WOULD Therefore enough time your is it. Because that's nothing you're young man. Be Eleven years. Is Nothing right? Okay, so what's enough years twenty years fifty years one hundred years one thousand years. One. Hundred Years I was pretty good, but I mean bitcoin hasn't been around for cycles. It hasn't gone through booms and boss. Hasn't it just started? Its? Two Thousand and eight in a bus. And now it's another bus. It's a full monitor. It didn't start until after the crash. Right I mean it was. It came on the scene after the financial crisis and it kind of an and then you know it went up. What working a gold? I don't know at the total market CAP IS I. have an eight trillion dollars more than bitcoins I know now I mean any. Seven or eight trillion dollars, right? It's still small. Compared to the world, equity markets the currency, and let's just say gold somewhere between seven to nine trillion. Let's just say. That bitcoins at two hundred billion right, give or take yes. Do you think that there's twenty percent chance that bitcoins market cap to gold market cap now the chances way lower than that that's what would you say?.
"schiff" Discussed on The Peter Schiff Show Podcast
"Don't see how asking to happen because I think that a if that many people try to use Bitcoin, the cost of the transactions would be prohibitively high, and the currency to Bitcoin is not stable enough to price goods and services directly in Bitcoin. But what I'm talking about isn't that I'm talking about the world's central banks all these countries all around the world that have their own Fiat currency. They're not gonNA abandoned that Fiat currency, but they have to find something else to back it with. With so that it maintains stability as so that their citizens have confidence in it right now it's backed by dollars, but dollars in free fall and people lose confidence in the dollar these other Fiat. Currencies need to be backed by something and I think they're going to get back by is goal. Governments are GONNA turn to go. They're never gonNA turn to to Bitcoin now you could argue that individuals on their own might turn to Bitcoin with the countries that we're talking about going back on a gold standard. You're not talking about it now, because just. On their nine hundred dollars in stander on the countries aren't talking about going on a gold standard, but what they are talking about is digitizing their currencies so that their country is run on a digital currency. China's created. Want the USO. Had It in the stimulus bill and they took it out before we got approve right, so they're not gonna going backwards. They're talking about looking forward. Well. First of all, that's not going to a gold standard isn't going backwards ray bold? That would be. Be An improvement. We'd be going forward, but they're not talking about it now because they don't realize that there's GonNa. BE A dollar crisis. I don't I'm not talking about what they've been talking about. In the past I am speculating on what they're gonNA do when they get blindsided by dollar crisis. If they didn't expect now, yes, central banks have been worried about a dollar crisis. That's why they've been buying up all his goal the last few years. They didn't really know what it was. was going to hit I. Think on the verge of that crisis now so that's what's going to turn that conversation away from you know a digital version of their own Fiat currencies. To what are we going to replace the dollar with Howard bring back stability to the global monetary system that is now in collapsed because the dollar is crashing, and there's nothing the Federal Reserve can do to stop it. Because the only way we can stop the dollar. Crashing is to crass. The economy is. Is Low interest rates go way up and force the US government to cut spending. So you you you and I agree on all the problems completely agree right now. BITCOIN's up four and a half percent last twenty four hours. It's at ten thousand seventy six dollars. I. You don't know this, but people in the criminal community are watching laugh when I say this, so there's this inside joke or running joke that when I tweet important information for the next bull market that the price crashes. Today in this, and I said we're breaking the curse..
"schiff" Discussed on The Peter Schiff Show Podcast
"Foreigners are about to present us with a bill that we can't afford to pay so again to me. What, I'm seeing now is very reminiscent of what I saw back. Then you know and I started screaming. My warnings much louder. If you go back and you look at like the Peter Schiff was right video game if you're a new to my podcast. Viral video got about.
"schiff" Discussed on The Peter Schiff Show Podcast
"That's the problem. We just rate mortgage. That's what happens in the housing bubble pop. A lot of people got teaser rates and then when the race resets is their houses at went down value. They didn't WanNa pay the higher payment so they mailed in their keys instead of their other checks. Can you please get on the road? Rogin show yeah. I would love to do the book. Joe Rogan show again. I mean I've actually reached out to Joe Rogan on on on a tax thing. I have is phone number. I've reached out to a couple of times saying hey I'm gonna be in town or hey what's wins convenient. I'd like to go on your show again. I wanted to debate and Yang. When he had in Yangon or rebut Andy. Anger had Bernie Sanders. I loved to do with the Baked Sanders hosted by By Joe Rogan. But he hasn't responded to me for whatever reason look he's obviously got a lot more popular now than he was when. I first when I show bell on it three times and I think is a really. He's a great guy and I think he's been extremely successful in what is doing. But yeah if anybody is a fan of Joe Rogan. Watch the PODCAST. I watched and listened to his podcast battle. Listen all of them. You know but I don't have the three to four three hours. We'll look how much time I'm sitting here doing longer but put your cat stemmer yet. You know when you're on the podcast you know you can make commas. Hey Joe have Peter Chiffon when you can have Peter Schiff on again. Maybe if he sees enough of his audience asking for Peter Schiff wanting Peter Schiff. Maybe he'll give potato chip or call writing meets the customer's always right. The audiences the customer. So if you want Djurovic have me on the podcast. More often than tells you a robot you'd like to see me on the podcast and maybe that'll him to give me a call and you know I'll do it again although he always wants people in studio now with all the people not traveling. I don't know what I'M GONNA be out in southern California again but next time I'm there I would make a special trip just to do his podcast. That's how influential. I think it is anyway. Missed up on Jimbo. You Ron Paul on. Tom Would have been a blessing for the last twenty years. Thank you I agree. Ron Paul's hero. Mind I like them. I'm woods a great guy. Did his podcast earlier today. You should also listen to. Tom Loses. Podcast you know. He's got an excellent podcast. Also you know there's a movie that we're in I forgot is called the bubble movie. The sequel is coming out. Everybody should buy a copy of the bubble movie. I you go to let us disagreed. Dot Com and the bubble movie. And it's all the people that predicted the two thousand eight financial crisis and predicted the next crisis. That's about the happen. The SEQUEL IS GONNA be coming out soon probably this year but before the sequel is out by the original the bubble movie And you can go down. I forget how much it costs. Five or ten bucks or something to buy it and can also rent it. But it's let us disagreed dot com and make sure And that has. It's a great movie. The way was produced and put together very entertaining very enjoyable and you can also get some of your friends to watch it especially now because that will help them understand. What's about to happen and more importantly why it's about the happen. So they blame the not capital. Okay is it a question? Hey Mr Schiff will you ever have your fund on Robin Hood? I don't think rob I'm not sure. Robin Hood has a open ended mutual funds Ahmad even sure and I don't know what the cost would be. I mean obviously Robin Hood would have the WanNa how funds on the platform but certainly if it could be done economically I want my mutual funds on many platforms with possible. No A lot of firms won't do it. They want to sell their proprietary funds. And and and so But yeah the the the more broader it's distributed the better and Otto. My Fund has a twenty five hundred dollar minimum. So I I don't know how it would work with. You know with Robin Hood and did they. They may have to find a way where they had a mass workout and then allowed individuals to comment with smaller amounts which would be fired me if they can figure out a way to do it. I'm all for anyway next. Stop you normally talk about. Gatx Jay is your reason. Well I I'm talking about the leverage ones is while the other funds are leveraged and I just use those an index. A lot of people follow and do that. Because I just don't want to go into individual stocks in I'm not even supposed to be recommending individual stocks on the podcast and I don't even recommend the index is but I just kind of talk about the index because as a general proxy for what's happening in the gold silver market. You know if you want actual individual stock recommendations for me you gotta speak with a broker at your severe capital and have an account. And then they could assess suitability and then they can make a recommendation on on what you should buy based on the suitability information that you supplied. How do I think the current situation effect home prices home prices are going down mortgage interest? Rates will stay low until they eventually skyrocket what examples of investments in the near future. Look everything is almost amount investment. This guy is asked about movie pass. Yes movie pass was something. I was laughing at predicting. Its bankruptcy eventually went bankruptcy. They had a horrible business model. You know they were selling Dollar bills for fifty cents. Obviously they sold like hotcakes You know but those crazy business plans would never be funded if real money had to be invested. It's only the Federal Reserve where these artificially interest rates that has created the environment were bubbles are formed and were capital is misallocated and Mallon vested is all because the garden and there are so many amalgam vestments that go way beyond Newbie Pass. Bad are all going to blow up at some point the collapse of the Bronze Age. No I'm not that much of a historian to go into all the details about the collapse but you know all collapses I mean. I'm very familiar with the collapse of the Roman Empire and things like that and I mean look it all saw stop trying to work hard and you create incentives to just live off the hard work of others as You keep punishing people for working and rewarding people for not working and you ultimately destroying your society and it collapsed and the same thing is happening in the United States. I have an expiring option. I WANNA exercise it while. I don't know what your option is on whether it's a cash settle or if it's an option on an actual stock and you can exercise in the sock but if you exercise stock option you have to pay for the share. You have to pay in full for the shares that you're buying so you have to have the cash. If you exercise a put option you'RE GONNA exercise into a short position in particular stock that you had to put on now if you already own stock and then you exercise put. You'd actually end up selling the stock that you want and you know anyway we see how. How likely is it? That trump or bided with full into Poland Hitler confiscate gold. Look as I said. I think it's unlikely that the government confiscate goal. Because we'RE NOT GONNA goal Saturday. They could just print money but it is not something that is impossible. And that's another reason why you should store bold at home and then that way it makes it much harder for people to confiscate and have it stored offshore in jurisdictions that may not turn it over that we're the. Us government has no jurisdiction And maybe they won't turn the gold over to the government when they claimed the Gold Flint. Because I think long term we're going to outperform the giudice because that's just an index. I think pig trying to use your brain and by the best stocks and avoid the work socks I think over time. We're going to add a lot of value are Adrian Day's GonNa add a lot of value By managing portfolio. They know. Being an index is a bunch of gold stocks. Real bold at this is not the time in my opinion to be selling gold stocks to buy gold. Wait for big rallying bowl stocks to do that. I think goal stocks are very cheap right now so it's not the time to be selling them. It's the time to be buying them if you have the risk tolerance. What is your price prediction for the bitcoin having is this the last question author typing cabinets. Do the rest of their here that I'm GonNa be done. I think it's the price of Bitcoin is going to be cut in half as already been half actually recently but look everybody thinks the having many bullish so it's by the rumor sell the fact all the People. I think having is bullish for Bitcoin Bitcoin. So the only thing they have left to do is to sell is going to be nobody to by Peter. How fast inflation happen? Look inflation to hyperinflation very very quickly. That is the problem. I mean it could be a matter of months before the thing completely spirals out of control so you have to be positioned before that happens. I mean you. Can't you know be part of the stampede because you'll end up being trampled our thanks to revise. Diane swonk says have you been in a car. Factory Detroit Yeah. I remember that I was on a TV show with an swamp. Two thousand six when I was predicting the financial crisis and I said that Gm was going to go bankrupt and she said automotive talking about. I've ever been to one of their factories. Everything is great and a couple of years later. Poppy was completely bankrupt. Dass walk on CNBC all the time. And I'm never want I got so many things right on. Cnbc leading up to the two thousand eight financial crisis. Diane swonk got everything wall who to? Cnbc one on their network now vanished wall. In fact I think Fox business tried to have me on a debate. One on one with an itchy refused to appear to me so. I think she learned her lesson. Baghdad right not to go on. Tell on television with me. So they couldn't book it because she didn't want to bear with me. I'm perfectly willing to debate with her right but she didn't want to go out with me. I think I think that's why the council I mean I. I don't know for sure I'm just. I'm just guessing because they told me that I was gonNA beyond lavish walk. And then they cancelled the second so trying to guess that maybe Diana didn't WanNa go on with me. When she found out that it was me that she was. GonNa be.
Adam Schiff Starts Impeachment Proceedings Against President Trump
"The Senate has open president trump's impeachment trial and peers winter Johnston reports nearly all senators and Chief Justice John Roberts have been sworn in chairman of the house intelligence committee and the lead impeachment manager Adam Schiff started the proceedings by presenting the articles on the Senate floor house resolution seven fifty five impeaching Donald John trump president of the United States for high crimes and misdemeanors after being sworn in to preside over the trial Chief Justice John Roberts administered the oath to the upper chamber will all senators now standard main standing and raise their right hand congressional Democrats continue to urge the Senate to allow for additional documents and witness testimony in the trial Republicans have rebuff those calls opening statements will begin on