36 Burst results for "Schiff"
Fresh update on "schiff" discussed on Jim Bohannon
"Reports of two people shot there Australia now has a third case of the acron COVID-19 variant as government leaders reconsider plans to relax border restrictions this week The northern territory health minister says a South African man who flew from Johannesburg to the northern Australian city of Darwin last week tested positive for the new variant New South Wales state authorities earlier had reported two travelers from South Africa to Sydney had become Australia's first on Macron cases Although not much is known yet about that newly discovered variants Doctor Fauci is encouraging Americans to get boosted When you get a level of protection with vaccine and particularly now with the extraordinary increase in protection you get with the booster You do well against them On meet the press Doctor Fauci explained getting boosted will drastically reduce chances of developing a severe infection even if the new variant proves to be more dangerous than delta President Biden is set to give an update today on his team's response to the Akron variant Former Trump White House chief of staff Mark Meadows could be charged with criminal contempt as soon as this week for defying a subpoena from the January 6th committee California congressman Adam Schiff I can't go into a communications that we're having or haven't had with particular witnesses But we are moving with alacrity with anyone who obstructs the committee A former Trump White House adviser Steve Bannon also refused to comply with the subpoena and he was indicted November 12th two counts of criminal contempt of Congress Spotify is testing TikTok style vertical videos following the rollout of green room The platform's foray into the world of vertical videos was revealed in a recent tweet from Chris Messina he's a Spotify beta tester and described the new feature as a pared down version of a TikTok style feed of vertical music videos Use this would also be able to like.
ZOA's David Schoen: Jan. 6 Congressional Committee Is a 'Complete Sham'
"So basically what you're saying is you want to let the process play out with the courts with the challenges because what they're demanding is well beyond I can ever think of a Congress demanding from a former president and his allies or staff or advisers or whatever I don't ever remember a case like this This sort of thing Am I right about that And think about you're right about that And think about this some more First of all there are office of legal counsel opinions directly on this that they are not to subpoena executive branch and even former executive branch people for this kind of thing Secondly what mister Bannon asked for was simply to have a representative of the person who invoked the privilege present so that they can make a item by item objection during the testimony of something came as privileged but think about this Think about who is demanding these items and the vindictive nature of this punishment You have a committee here that's a complete sham The American people deserve better If you really want to investigate the facts of what happened on January 6th then you don't have it headed up by chairman Benny Thompson Chairman Benny Thompson sued president Trump And in that lawsuit he represented to the court that the entire incident was instigated by president Trump himself that president Trump supported white supremacists that he Thompson's life was put in grave danger And this is the responsibility of the president How on earth can the American people stand to have someone like that leading an investigation That's no investigation What happens when it comes with effects that dispute that Then you've got Adam Schiff on there His history is well known I think to your listeners Jamie Raskin Jamie raski was the lead prosecutor president Trump's impeachment in which he specifically alleged that the president was responsible for January 6th This is a sham And these are the people demanding the documents Thompson has his own interest saying that he was personally put in danger And now criminal charges brought against mister Bannon Changing his
Gregg Jarrett on Adam Schiff's Disgraceful Legacy
"Greg Gerry, you sent me a piece on Friday entitled Adam Schiff's disgraceful legacy. Right there, we heard him say the following. Anyone who lied to Christopher Steele. Or the FBI should be prosecuted. What about chairman of the intelligence committee of the House of Representatives who lied to America for four years about their having seen the quote incontrovertible evidence of Russian collusion between the Trump campaign and Moscow? There are a lot of liars associated with the great Russia hoax and the ensuing witch hunt. Hillary Clinton, Christopher Steele, Igor steel source, I'd add James Comey to the list. But in my book, I wrote in the column, the most remorseless liar of all the flagrant huckster of hysteria over the Russia hoax is none other than Adam Schiff. Which Sean Hannity loves to call shifty shift. I mean, he is the most mendacious of them all. I mean, he is the top of the party not in terms of who lied the most and most often for four years. That's right. You know, he'd walk a mile for a camera shift did hundreds and hundreds of interviews with the stock up media. They didn't know a damn thing because they didn't bother to actually investigate any of the allegations or try to corroborate any of the dossier they simply took it as gospel as if it were scripture from Moses. You know, and so they are winning accessories the media. But they were played for fools. They were winning dupes. And at the hands of people, like Adam Schiff, who kept insisting over and over again, week after week year after year for years that he had in convertible evidence that Trump was a Russian asset who plotted with Putin in the bowels of the Kremlin to steal the 2016 election he said he had concrete evidence, absolute evidence, he'd seen it with his own eyes. We're just on the verge of the big reveal and he promised again and again, he was going to reveal it, but oh, you know, it's classified information right
'The View' Co-Host Morgan Ortagus Clashes With Adam Schiff Over Discredited Dossier
"So I guess Adam Schiff thought he was on the view and it was a safe space for him or whatever it is was he being micro aggressive or what But Morgan ortegas was having none of it So she asked him about his constant promotion of the dossier I want you to keep in mind as you're listening to this Keep this clearly in mind That Adam Schiff and I am quoting him directly please go to the Internet and double check me Always Double check everything I tell you Adam Schiff had said repeatedly that there was smoking gun evidence that Trump had colluded with the Russians We now know that whatever Adam's shift said was evidence was in fact nonsense created by the Clinton campaign And notice how he doesn't apologize I want you to notice here he throws out another debunk conspiracy theory that Paul Manafort was dealing with a Russian intelligence agent Constantine kilimnik That's who he's talking about in this cut Constant the kilimnik was in fact a source for the Obama administration too So if Paul Manafort was dealing with some Russian spy then we have a damage assessment to do about the Biden Obama Biden administration which had trusted this guy This is a great clip Did you cut it into two No the whole thing Okay all right play that cut And let's not forget what we learned in that investigation We learned that the Trump campaign chairman Paul Manafort was giving internal polling data campaign polling data to Russian intelligence while Russian intelligence was helping the Trump to be clear if he was fired halfway through the campaign Well he may have been fired Yeah But the effort to get Russian help continued and even beyond the effort to get Russian help But you made president information yourself for years by promoting this I think that's what Republicans and what people who entrusted you as they Intel committee chair are so confused about your culpability in all of this Well I completely disagree with your premise It's one thing to say allegations should be investigated and they work It's another to say that we should have foreseen an advance that some people were lying to Christopher Steele which is impossible of course to do But let's not use that as a smokescreen to somehow shield Donald Trump's culpability for inviting Russia to help him in the election which they did for trying to course Ukraine into helping him in the next election Which he did into inciting an erection insurrection which he did None of that is undercut None of that serious misconduct is in any way diminished by the fact that people lie to Christopher Steele No I think just your credibility is Did he say Donald Trump was inciting an erection You would like to say that on the radio Yeah I thought I heard that right Adam get your head out of the gutter Get your head out of the gutter you slob Disgusting Adam Schiff it's gross Talk like that on the radio But notice how he continues to parrot fairytales that no one could have possibly known Christopher Steele was lying Really Because the FBI as of January of 2017 when they interviewed Christopher Steele determined that Christopher Steele was in fact
Is America Becoming a Land of No Consequences? Rep. Devin Nunes Shares His Thoughts
"Congressman Nunes, I didn't want to spoil your day. I just wanted to tee that cut up to ask you a question that I have to give full credit. I lived in Hungary after the fall of communism the land of my parents birth. And there was an issue there in the 1990s. Nobody, not one person paid the price for the crimes of the prior regime. There was no truth in reconciliation, no truth committees, and one day a very bright philosopher wrote a big article, changed the overton window. And the title of the article, a congressman was is our nation becoming a land of no consequences. I look at America in the last 5 years. I look at the lives of Schiff, the accusations of Brennan of Comey of mccabe of stroke of Lisa page. And I see one lowly lawyer at the FBI get a slap on the wrist, and I have to ask you as a person who's down the most to get the true story out. Is America becoming a land of no consequences congressman? Well, I still have hope, and you have to have hope in this line of work. I get up every day. I live in California. I'm coming to you from California where we got fires burning all over the place, so you got politicians running around, screaming global warming as my constituents and my family are engulfed in smoke, just ash and smoke that are coming out of the Sierra Nevada mountain range. So you got to get up every day. We're in the trenches here. And you've got to have hope that things are going to get better. But to your point, things have gotten progressively
'This Is the Stuff That Mobs Do': Blowing Hillary's Russia Collusion Conspiracy Wide Open
"Bob muller comes onto the scene in the spring of seventeen after president trump fires komi right and paul ryan and too many republicans agreed to put muller on all under this cloud of the multi. What you're trying to tell me is the millions of dollars that hillary clinton pumped through was also maybe used to sweeten some journalists to write stories about this russia. Thing potentially right. I mean this story was so totally artificial. We got bob muller of yeah. I would go one step further. It's not even potentially it happened. Look we took sixty depositions under chairman newness under oath. They're all public now. Adam schiff didn't want him out. Rick grenell allied declassified them two years later and we put him out there online you can read the sussman deposition that i took that cited. In the durham indictment. That says he was talking to members of the media at the behest of client the client being the dnc fusion gps. Doing the same thing taking the same false sturt going to media and saying you guys got to put this story out and then. Here's the kicker hillary clinton and jake sullivan come in and tweet out information. As if they've never heard of it before and say look. President trump has a secret back channel to russia. If you remember this stuff in the fall of sixteen and they were the ones paying for it they pretending to know nothing about it and then they had a willing media. This is the stuff that mobs do literally. I mean this this monkey. It really
Republicans Blast Democrats for Pulling Iron Dome Funding
"Applaud once leader mccarthy again for taking a stand and doing what not a single other week week. Humiliated democrat did which was to stand up to the filth to the garbage. Anti semitism which is really targeted. Jewish against the jewish state. That was on tuesday. So thank you leader. Mccarthy thank you republicans for saying no place for hate against the jew or israel in in the house of representatives where was chuck schumer. When all that was going on i thought he was a chamara energy style. Gas big mo a guardian of israel. Where was against this. Hey where was jerry. Nee adam schiff schakowsky and all the others who who were calling trump any semite which was garbage i president have orthodox jewish children orthodox jewish grandchildren and such a such a fan of as roma staunch support of israel that he singlehandedly. Move the embassy member from tel aviv. Jerusalem not a single democrat not even the jewish liberal democrats went to jerusalem when they opened the new embassy and moved it to israel's capital. Why because they hated trump more loved or supported or want stand with israel. So thank you. Republicans for standing up against the hate of the democratic
Can We Trust the U.S. Institutions That Provide Intelligence Briefings?
"So adam schiff who walks out of closed intelligence briefings to tweet out things. He heard to the media bodies behind closed doors. He says you can't trust. Donald trump with intelligence briefings. Let me take back issue from that clown. And just turn it into a serious question for you greg and know you other guy who dealt with the russia hooks the witch hunt can we trust the institutions that are providing the intelligence briefings. I've had very serious guests in studio form officers. Say the doj is done the f. is done send in the us marshals take it apart brick-by-brick and rebuild it because they are so corrupt. What is greg. Jarrett's response to the state of the machinery of justice and intelligence in america. Well you know in. The intelligence community is sort of an oxymoron right And look i. I know a lot of i was talking to a former. Cia senior operations officer just a few hours ago. Today is an incredibly bright man. And he he's disgusted with Some of the intelligence that emanates from our agencies An adam schiff. Of course you know. It's pretty rich for him to be talking about a trust. In that vein. Our institutions are only as good as the people who occupy those institutions and agencies and departments. In when you've got people like adam schiff as a member of congress in either when you've got people like James comey andrew okay. Peter struck Lisa page bruce. John brennan james clapper will of the people who perpetrated the greatest hoax in american history on its people and sought to drive of president from office simply because they disliked tim and made up a infamous lie about him. You know those are untrustworthy individuals. They have demeaned in defamed and made a mockery of the agencies and departments that they were the head of and deeply involved in
'Witch Hunt' Author Gregg Jarrett on Donald Trump's Supposed Collusion With Russia
"Did say that there is ample evidence entity there is of collusion of people in the trump campaign with the russians. Loads of evidence everywhere from a man with top secret clearances. You've written two books. The russia hoax in the witch hunt. Whatever did you find of any kind of collusion on either side greg. Well zero collusion. On the part of donald trump with the kremlin would i did see was collusion among various characters in our government the author of the dossier and the hillary clinton campaign and our acolytes to frame donald trump for crimes. They made up that he never committed. Adam schiff is you just played it truly one of the most notorious liars and biggest fools in washington and among that crowd. That's saying a lot but he's head and shoulders above everybody else. I take direct. Aim at him in this little thing called witch hunt story the greatest mass delusion in american political history and he was one of the big proponents of the russia hoax. He drove in many ways. The witch hunt by lying to the american people saying he had solid evidence that trump had conspired with russians. When in fact he well knew he had no such
Representative Adam Schiff Speaks About 9/11
"The morning of september eleventh. Where we're gale and where were you. I heard that a plane had struck the world trade center. At that point. I was renting an apartment a few blocks away from the capital and i was preparing to walk to the capital When the first plane struck. And i couldn't figure out what i was seeing didn't understand what i was seeing. You know could've plane bring down a whole building and so i was still processing. What was going on. When i left my apartment. Go to the capital to find out what was happening. What our response was going to be. When one of the aircraft hit the pentagon and i heard a boom which i later learned was a secondary explosion in the fuel exploded and there were people streaming through the streets away from the capitol. I was trying to get to the capital to find out where it was congress going to convene. I wanted to make sure that my staff were okay and out of the building. We didn't know that there was still another aircraft that was on its way to the capital and it was just chaos and i remember stopping a policeman and asking. Where's the congress to convene and being told that we were going to meet at the police department which turned out not to be true and then trying to get through to my wife on my phone to let her know. I was okay and we. We finally did connect as i was standing in the street. And let her know where i was and what was going on and that was okay and just remember the the anxiety and her voice. The next i think a couple of hours were spent trying to figure out. Where are we going to convene. And then one of the more memorable parts of that day was when after we did convene a going out to the capitol steps and singing. God bless america together
U.S. Military Commander in Afghanistan Talks to Taliban Almost Daily
"Meanwhile speaking of the active duty. Us military the white house is speeding. Up the evacuations. Out of afghanistan now with eight days left officially until the august thirty one troop withdrawal deadline. Ministration says in the past twenty four hours. Nearly eleven thousand people have been evacuated from kabul about forty eight thousand have been airlifted out since august. The fourteenth crowds desperate to leave afghanistan. Remain outside the airport gates where it's bedlam. Pentagon says u. s. military. Commanders are in contact with the taliban. Today we learned about another mission to rescue stranded americans outside the airport. The commanders on the ground certainly had the authorities they need to pursue opportunities to bring people in and one of the means that their disposal is of course rotary aircraft helicopters. And and we have done that on a couple of occasions. I certainly wouldn't rule out that we would do it again if it if it was the best way. So for the record a couple of extractions thus far. Meanwhile there's increasing pressure on biden to extend that august thirty one deadline for troop withdrawal while he's left the door open for that possibility leaders in the taliban have declared that a red line of their own today. The white house was asked about the taliban resistance. And the president's plans we are in talks with the taliban on a daily basis through both political and security channels decided whether he is going to need more time yawn august thirty first taking this day by day. And we'll make determinations as we go. We believe that we have time between now and the thirty first to get out any american who wants to get out and just tonight members of the house. Intelligence committee received a classified briefing on afghanistan. There chairman adam schiff democrat. California expressed his doubts that the evacuation mission will indeed be accomplished by the end of august.
Is Democrat-Led California Running Our Country?
"California's running our country. Nancy pelosi speaker of the house. Adam schiff is out of the house intel committee eric. Swale well is acting like the sultan of brunei shirtless and a foreign middle eastern country with slaves around him and some sort of country. That's awful for free speech protections. We have camera harris vice president. United states menlo park has google facebook and twitter all headquartered there. California runs the whole country. And you're trying to tell me that if republicans can't win back the governor's mansion in california that you can't take back the house of the senate.
Four Teriffic Headliners Kenny, Piper, Bennett, and Mark Schiff Show #77 - burst 1
"I'm in las vegas a lot. I was at the mgm last halloween night. I'm in my room. Knock at the door. A little kid was trick or treating in the hotel. I gave them a towel. Couple ashtrays in the bible. Give a child a bible. You feel good about yourself. Old people driving cars. that's scary. that's gotta stop talking old people in their hundreds. I was in miami last month. I got passed by a cadillac. There was nobody in. It was just these knuckles up on top of the couple. Blue hairs coming going over the top sprite. And i like old people. I'm not knocking people. My grandpa's still alive. He's ninety six. I saw at christmas. He says to me braun. It's a miracle. I get up in the middle night to go. The bathroom and god turns a light on for me. When i'm done. He turns the light off for me. I say grandpa. i think you're in the refrigerator.
Don't Call People out -- Call Them In
"First of all thank you all for listening to me. I come to y'all because most black women don't go the klu klux klan rallies on purpose. I did because it was my job. I've monitored hate groups. But i really wanted to find out how people could hate strangers so much. Mostly i wanted to work for peace and justice but fortunately for me my mentor at the time was the legendary civil rights leader. Reverend ct period. Who'd been an aide to dr martin luther king and see ts to say when you ask people to give up hate the you need to be there for them when they do now the time. Ct set those words. I started muttering under my breath. Because you can't curse out a preacher you know. But if i didn't make any sistemi to me because if the clan hated black folks al's all right with hating them back sounded okay to me but then something happened. It became my job to help people who were leaving hate groups and then once i got the norm i couldn't hate him anymore and then i got confused. I'm a survivor. A racial violence rape and incest. And i needed to find another moral compass for my life's work and the conference had this schiff from hate to love and so that improbable journey is why i'm here to talk to you today. Because i really really want to build a culture and a world that invites people in instead of pushing them out is called a calling in culture
Robinhood Sold IPO Shares to Over 300,000 of Its Customers
"That have the most to lose and speaking of stocks. That have a lot to lose. I want to talk about the ipo of robinhood. This was one of the more highly anticipated. Ipo's after all this really encapsulates the entire you mean stock investing theme where the public is just buying everything no regard the fundamentals pure gambling in fact a lot of people have taken their stimulus money and deposited directly to their robinhood accounts. And of course robin hood was at ground zero for the game. Stop short squeeze in fact. A lot of people were upset at robin hood when they halted the ability of people to buy a game stop or the leverage up to buy game. Stop so there was a lot of people focusing on this. Ipo they supposedly have democratized. Investing course robin hood is not about investing at all. It's about speculating. It's about gambling if anything that's all they've democratized and they're not helping the little people rob the rich right. That's the whole name of robinhood is where you're taking from the rich and you're giving from the poor will what robin hood actually does is. It helps the rich take from the poor because the people who are losing the customers or the people who have accounts at robin hood because they're not actually the customers. Those people are the product. The customers are few hedge funds that are buying all the order flow. So they can trade. Against all the robin hoods right so all the mary men who have got account robinhood are losing a bunch of money and the people who are making. The money are the rich sheriffs who own these hedge funds. The reason they're buying all these orders is because they're making a lot of money off them because the people that have robinhood
Mark Levin Reacts to January 6th Hearings in the Last Hour
"I listened to some of this hearing. I didn't watch it live. But I listened to some it literally in the last hour or so. And, um Tremendous amount of drama. Lot of graphics. Adam Kinzinger was crying lose, Cheney said. Sometimes you have to pick country over party. Ladies and Joe, this is this is really, uh Too bad, quite the spectacle. That this committee is loaded up the way it is. If Adam Schiff on this committee Who led an insurrection against the Trump administration. You have this guy Raskin from Maryland on this committee. Push for impeachment twice. Then you have Cheney has always hated Trump her father's always hated Trump. The Bushes have always hated Trump. And then of course you have King Singer. Who lied to the people in his district when he ran as a tea party candidate, flipped into Rhino land and has always hated Trump. Didn't vote for Trump. Now we had some police officers giving testimony. I don't condemn them. But we only had certain police officers giving testimony. You don't have police officers giving testimony so far, who let People into the Capitol building. Maybe maybe they will be questioned. You don't have FBI officials being brought into this hearing. Maybe there will in the future. Explaining why they failed to provide information to the police officers when they had it 48 hours earlier. You don't have any answers right now. Why Nancy Pelosi and nobody in leadership. Accepted Donald Trump's offer of 10,000 National Guardsmen.
Adam Schiff Talks "Pelosi Republicans" and Capitol Riots "Mission for Truth"
"Here. Shifty adam schiff yesterday asked about the pelosi. Republicans as kevin mccarthy brilliantly described them adam schiff and liz cheney i think chaining consumer are serious about getting to the truth of january sixth in that respect that we all share the same mission. We want to bring up the facts. We want to know what led to that deadly attack. We want to know what we need to do to protect the country. Going forward So it's it's welcome posed already but if they're other republicans that are serious about mission We we should be open to the possibilities with the mission. They're on a mission a mission for truth. While here's this mission. Who shot ashley babbitt. How about this mission. Why wasn't there adequate security at the capitol that pelosi was responsible for. Let's get to that again. Don't hold your breath.
'You Are Being Evasive': Questioning of FBI Director Gets Contentious
"A house hearing today. Carson raja krishnamoorthi asked fbi director christopher ray about the subpoenas of the phone records of congressman. Adam schiff and congressman. Eric swale well by the trump justice department. The league hunt began when the fbi sent a subpoena to apple in february twenty eighteen. You don't dispute that report correct. I really can't discuss civic investigation. don't want to get out in front. The justice department on this in a really best director and the fbi interviewed witnesses and connection with this leak investigation. Correct again sir. i. I really can't discuss any specific investigation. I'm not asking you to discuss any specifics of the investigation. But the fbi was involved with these investigations. Correct when there are leak investigations. Typically the fbi is the investigative age good. That's the that's what we thought. The fbi was involved with this investigation. Now sir and this is during the time that you are the fbi director. Did you ever discuss the apple. Subpoenas with jeff sessions congressman. I understand the question. I really don't wanna get out of the justice department on this as you know the you're just being asked a simple. Yes or no question. Did you discuss the leak. Investigation with jeff sessions congressman again respectfully. I'm not trying to be difficult here but the inspector general has been asked to look into this. I have a very good being evasive keyser. Yes or no questions or you're under oath either. Yes or no simple questions that we need to get to the bottom of
Rep. Devin Nunes on the Irony of Recent DOJ Invesitation Into Democrat Leaks
"Ironies here are really troubling. Your phone records were stolen, fleeced put out there for the media, Um, to embarrass you by Adam Schiff and others They were taken from you. Nobody made a big stink about it because your Republican congressman who's been on the side of Donald Trump and against the spy gate scandal from the start. And now we see this new quote Scandal congressman where the Trump Administration may have been looking at the actual violations of the law and leaks, and it may have been some subpoenas issued for phone records and all of a sudden it's a huge media story. Uh, any well coming to look at it. First of all, it's a It's a faux fake news narrative. To begin with. This launch is on a Friday. From the same exact reporters. The New York Times reporters who took the leaks in the first place and continue to take leak, right, so then they write a story in the most favorable life. Oh, my God, there's you know, gambling in Casablanca. As if you know, investigations don't occur when the leaks of classified information leak out. So so, Dan, you you know this. If if there is a leak that comes from anywhere within the government, the agency itself Has to call for an investigation. So we get notified all the time about investigations that are occurring, you know from you Name the three letter Agency. D o d CIA, NSA, etcetera. Get notified. Look a lot of times. It's a notification about just where it wouldn't even involve Congress. It might just involved. You know some some contractors or some military personnel. And as you know, those people get prosecuted. So that's point number one is they would have been well aware of whatever investigation was occurring. They might not have known They were the targets of the investigation, but Anyone that was read into any of the programs that leaked are a target of an investigation.
"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
"Ten one ten ounce coins that one ounce gold ends up costing you a lot more money than buying just one ounce what i would do is i would buy the one ounce coins and then if you want. Hey i need some smaller denominations for barter transaction. That's where silver comes in. You could buy yourself some silver instead of buying these fractional gold coins. Now if you're buying a lot of gold and you wanna have a small percentage of it in these fractional coins. You can do that. But you shouldn't have a large percentage of those coins because then you end up getting less gold. You want to get as much gold and silver as you can for the money. So you wanna buy bigger and you want to avoid all of the the numismatic or collectibles. Or anything that's rare anything. That's mint condition or anything that's proof or any of this stuff. These are all just a bunch of things that salesman. tell you. In order to overcharge you for your gold and silver i what would be even worse than buying collectible or rare coins as a hedge against inflation would be buying bitcoin or any other crypto currency for the same purpose because bitcoin or any other crypto currencies are not a hedge against anything. They are gambling. That's all they are. I mean the what's happening with game. Stop and a lot of these stocks simply shines a light on that whole thing in that more and more people are willing to buy things simply because the price is going up. They're willing to look the fact that there is no inherent value in what they're buying but the price is going up and that is the reason they're buying it's because they believed the price will continue to go up you know. I've talked a lot of people to that somehow. Think can't the price game stop. Just go up forever. I mean why would it have to stop going up. I mean it shows you how little a lot of people who are buying the stock know about the stock market. No it can't just keep going up. I mean yes in theory if none of the people who are buying game stop stock if none of those people sell then maybe the price will never go down. But if nobody ever sells the stock. How does anybody derive value from owning it. If you simply have brokerage account and you point to your statement and you have all this money and game stop well. What good is it if you never sell. It only matters when you try to sell. The problem is once people try to sell. There's nobody to buy. i mean right now. You have shorts who are covering well. Eventually the shorts are going to be finished covering and you have people who are trying to squeeze him out who are buying. But once that's over nobody is going to buy the stocks that does inflated prices who is looking at them as an actual investment so eventually the market has to implode and even if the investors don't sell the stock the company will the company is staring at this market price and they can issue stock that they knows overpriced they can sell it into the market and get cash. So that's going to drive the price down eventually..
"schiff" Discussed on The Peter Schiff Show Podcast
"You buy lumber you by trees or something like that. You're not going to buy a baseball card like you know you could buy antique furniture. But that's not an investment in would. The furniture is made out of wood. But you're not investing in lumber when you're buying this antique Chair that happens to be made of wood. The wood is irrelevant to the value of the chair. And that's the same thing with a real rare quite. You can buy a rare coin. Let's say a gold coin. You pay a million dollars for a gold coin has announced the golden it. Does it make a difference. What happens to the price of gold when you paid a million dollars for the coin and you only have eighteen hundred dollars worth of gold. No the price of goal is irrelevant to the value. That coin was relative to the value. That coin is the supply and demand of that point how many collectors want to buy it versus how many collectors that want to sell it. And how badly do the collectors who don't have it want it right now. The other thing that you can argue is that to the extent that there is a big demand. Wealthy people very very wealthy people can store a lot of value in a very very small quantity right if you have a rare gold coin. That's worth a million dollars. Well you'd have to have a lot of bullion coins to get a million dollars so if you wanna have a lot of value concentrated in a very small place then keeping some of your wealth in rare coins could make sense. But when you're talking about your average guy who maybe has a ten thousand dollars to invest fifty thousand one hundred thousand dollars. You know you don't have to worry about having too much gold or silver. You have plenty of places to keep. You are not in the area where you need to have a way to really concentrate large amount of money in a very small area and of course the problem there is. You've got these massive spreads to that you're not gonna have with bullying so if you want to invest in gold and silver you wanna hedge against inflation..
"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..
"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..
"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
"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
"Keep my bank deposit in dollars I WANNA keep it in euros or I want to keep an bowl right? If they keep any goals they can wire. They can pay. Payments in gold they can wire. They can get a debit card and when they use it, the goal is automatically liquidated. It will, I can put people in a position to use gold. Exactly the same way that they use any Fiat currency in water act while you're talking. BITCOIN surging is at ten thousand two hundred thirty dollars. Now it's up. It's up. It's up another maybe one hundred dollars since we started or seventy five dollars. Yeah I like. That silver was up eighty cents and bitcoins up one hundred dollars. You'll silvers up a buck and a half now. became or or coins? Since we've been talking is up two hundred thirty dollars yet. Silver silver was up nine percent one day last week. And then it that it was up six percent, so silver made a fifteen. Percent Move in today's. Why is. Why has become more up more this year? Because it went way down at leading up to last year. We talked about that and. It was up and twenty nineteen. Okay. Over the if you go back, this is the end of July twenty twenty. If you go back, the android rely twenty nineteen. BITCOIN is flat. It's down a little bit. Flat Golden. Silvers way up. How much is up? It's a lot but look how much you think right now anthony. BITCOIN is ten thousand, two hundred. Should people be buying bitcoin right now, or should they be selling it and taking Improv it? Just, so we're clear. Bitcoin was at nine thousand four hundred ninety three dollars last year, so it's up. Almost a thousand dollars in the lower ranked percent. Gold is up like what thirty percent over that time. May Okay, but but just so we're. We're just showing that. What you were saying earlier wasn't true. I guess it went up. It went up, so it's up, but not as much as goal, but right now. Should people be buying Bitcoin at ten thousand to fifty, so here's what I've told. People is I believe that interest rates are going to stay at zero or negative, three or foreseeable future. Yup, you believe that the US economy is addicted to printing money, and they're going to have to continue to print more and more and more money. Of those two things are true. There are four types of assets that you should go. Look at real estate, gold, silver and BITCOIN. I believe out of those four assets that Bitcoin is going to outperform the other three in a very material way of the next eighteen to twenty four months. Now. That doesn't mean. Go put all of the money that you use as an inflation hedge in bitcoin. It means that you should look at real estate gold silver in bitcoin together.
"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
"So there's nothing to store when I'm stories. Using difference metal. Every single Internet business you know of right. There was somebody who is yelling and screaming. Saying the Internet is not real. This digital thing does it matter. There's nothing underlying these companies all that stuff, right? They're selling bits, not adults all that stuff. BITCOIN is simply a another iteration of this, which is the commodity value that Gold has? There's no denying it. Yes, you could turn into jewelry. You can do a whole bunch of other things that you usually don't talk about with goal. Right in terms of there's intrinsic value to gold and commodity. Aspect, but there's also a digital commodity aspect to Bitcoin, which is the most. which is the most defensible the strongest COMP- networks in the world and when you look at that, Bitcoin has grown at a compound annual growth rate of over thirty. But Anthony. All of that is counting the bubble years right the years of the bubble I grant. From the day, it started to today. Let me here. Here's A. bitcoin right right. How much gold was taken out of the ground today? How the hell do no okay I now? Many big number created today and I can prove it. There's nine hundred bitcoin created today. Yeah, I, get all that but many. How much gold is in existing? You know what? Tony here here's a point, so let's say that in two years right? Bitcoin is at a thousand. Let's just say right. Is that all Donald Thousand and gold is at three thousand. You'd still be able to make the argument that since bitcoin started. It's beating goal. You can make the exact same argument. You're making now and say it's. It's the best performing asset of the last twelve years. Whatever it is, it has great return, but it would only be a thousand. had. Been Around for eleven years and I forget the exact number, but it's like. If you bought the Cornyn helmet today at any point, its lifetime other than like a hundred days out of that eleven years and you help till today you would be up so if you bought one of the one hundred days the last eleven years, and you help the today. You might not be up, but again the whole key to this is do you think that we're more likely to go to a gold standard or to a bitcoin standard when the dollar fails? Oh way more likely goal. I just don't see people going to Bitcoin Didn't you just read this article the other day come? I really believe that of course I do there was this crypto hedge fund in the UK that just shut down because there was no institutional demand, they couldn't find investors that were interested. In cryptocurrencies, the the central banks are buying goal. They don't own any bitcoin they own. Own a lot of gold and.