What does Veeky Forums think of Peter Schiff? Is a dollar collapse inevitable?
What does Veeky Forums think of Peter Schiff? Is a dollar collapse inevitable?
Daniel Flores
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Logan Perez
Yes. Yes it is. On an infinite timeline all currencies will collapse.
Schiff has been wrong for about 5 years now, and he may be wrong for another 20-30 years, however.
Parker Gray
>he may be wrong for another 20-30 years
I don't know about that. He seems to have been calling the FED's moves these last 6 months pretty spot on.
Hunter Wood
He's the perfect example of le broken clock is right twice a day meme. He kept yelling collapse for a decade and it finally happened, even though it was for entirely different reasons than he said, and now he always points to that as if it means anything. He is a gold shill nothing more.
Jackson Butler
Isn't gold like the permanent safety net? I mean you wanna diversify your assets and it's the only thing safer than T-Bills which wouldn't be safe in an all out market free-fall. Don't you want some precious metals?
Justin Gray
>safer than T-Bills
>T-Bill
>Safe
That's a laugh. T-Bills are in no way, shape or form safe. They are nothing more than ink on paper and even that is to say it's a bill of Debt.
Easton Lee
No. He's been saying:
"They won't hike. They won't hike. They won't hike."
Well, they did hike in December 2015. And sure, it wasn't much, (albeit a significant proportional raise given it's very low level.)
However, he also makes the fundamental flaw that rates won't be hiked in the face of a weakening economy to stem capital flight, or reign in inflation (if it should tick up).
William Sanders
Gold isn't a permanent safety net, is it. Nothing is a permanent safety net. Not gold. Not property. Not food. Not guns. Not ammo. Not cigarettes. Sea shells. Bitcoin. Fiat. (The list goes on.)
The fact that you believe gold to be a permanent safety net shows absolute ignorance on risk, on asset management, and finance in general.
Things gold is:
Gold is an asset which is mobile and monetary (albeit increasingly less these days than in the past.)
It is a hedge against taxation.
It is a hedge against counterparty risk for institutions.
It is being utilized as a hedge against various fiat currencies too.
Things gold is not:
- An inflationary hedge all of the time. (It may do okay from inflation, but there are better inflationary hedges).
- A permanent safety net.
- The best monetary system for now and always.
The gold standard had several benefits, but was also tremendously flawed. It isn't the great shining hope for our future. It is one possible currency regime, and it comes associated with many benefits and many problems.
Fixed income in general is risky right now.
Adam Ward
youtube.com
Spot on, yeah? They hiked rates a few months after this interview.
Zachary Flores
Peter (((Schiff)))?