Mashinsky claimed that $3 trillion migrated from fiat to the crypto world. That's not true. The actual amount that migrated was a small fraction of that total. Most of the $3 trillion came from paper appreciation. But using his own standard since this debate $2 trillion has migrated out of crypto back to fiat.
I wonder how often and for how much money Peter has been approached to shill for bitcoin. Amazing strength to always stay true to his values, no pun intended.
@@skyhappy Confidently believes in himself and his logic, not to the point of delusion. Also he has a strong set of ethics, doesn’t shill things he doesn’t believe in. Remains rooted no matter how many naysayers, opportunistic gain arises or unpopular his expression of thought is. A principled man, is very rare. His father was the same. That’s the biggest reason I like to follow Peter.
Damn ya I watched this whole video last week and didn’t remember that. He was brutal. I actually think she’s usually a pretty good interviewer. Peter is not afraid to call out the BS, someone has to do it
I know how it must of made Peter feel when they belittle you ,but on national news ouch ,I wish Peter had stood up and said fuck you guys. When my family was working on windows development for Dell they told me it would become the new operating system I was laughed at at work for telling and people said DOS was going to stay .what the hell do you know. I suppose it’s a human psychology thing people don’t like it if you are smarter than them .
He caught a lot of heat from the bitcoin clowns claiming he was just mad that bitcoin was doing so well. For many months the comment section of Peters videos was full of bitclowns but now they seem scarce 🤔
Moderators need to learn to get out of the way. Their only responsibility is to ensure that both participants have an equal opportunity to support their own positions. So long as the debate remains respectful and on topic, the moderator has no business interrupting.
@@DIYDaveT this was 6 months ago. The fomo was exactly the same from 2004 to 2007 in the housing market. All the signs were there that it was a bubble. You just had to take off the rose coloured glasses.
This was an awesome debate to watch and Peter Schiff was justified to call Michelle Makori out for interrupting Peter more than she did Alex Mashinsky. Brill work, Peter👌🏻 Alex Mashinsky was impolite and smug during this debate, well look at Celsius now🤣😂😄
@@mikeoz4803 You must admit Bitcoin certainly isn't an inflation hedge and is def a bit unstable (to be kind) but let's hear your price prediction for bitcoin in one year...put it in writing. I'll say Gold at $1950
Gotta love the irony of Peter calling out the moderator for shilling BTC, only for their crypto sponsor ad to pop up while Peter is destroying Bitcoin 😂🤣
@@alexmendoza9270 of course! He shills some stuff I find questionable too such as mining stocks which are very high risk and speculative. But he also pushes investment in foreign markets, oil stocks, gold and silver. All four of those are solid picks imo. The mining stocks are something he seems to believe will skyrocket eventually when gold skyrockets in value. I disagree, because the cost of oil (fuel) is skyrocketing so mining will still not be very efficient. If somehow someway fuel prices plummet during the demise of fiat then yes mining stocks might go to the moon.
And now Celsius is in trouble for these wonderful “dividends” and the 1.5 million customers are locked out of their accounts and could lose all their money. Good job Alex.
@@someguyontheinternet7628 this is true, you got Michael Saylor telling people to mortgage their houses and take out loans on their family business to buy bitcoin. That moron is going to lose everything to lawsuits.
Peter has dedicated his life to global economics and understands markets better than anyone. Watching this play out as he always said it would is quite spectacular
As he said it would? He’s been saying Bitcoin will go down for almost a decade. He’s lost his followers massive amounts from being in Gold instead of Bitcoin. He’s wrong. It’s there in the track record. Gold is break even, but LOST value over 10 years after accounting for inflation. Btw I hold Gold. I think it has its place also, but Peter is wrong about Bitcoin. The numbers for 13 year track record are incredible. Even over last 2 years it’s up almost 300% still. Bitcoin 1 year -35% Bitcoin 2 year +300% Bitcoin 5 year +700% Bitcoin 10 year +154,000% Bitcoin 13 year +670,000,000% Gold 10 year. Break even. Negative with inflation. Ya Peter is really killing it with these predictions.
@@Zeppelin9899 Gold is no Ponzi scheme. It's been a repository of wealth for millennia, and will be so as long as there is a human civilization... and probably beyond. BTC and other cryptos are nothing else but sophisticated Ponzi schemes! BTW, I invest in TSLA, and realize it is beating BTC, while having a strong and fast growing underlying value.
@@Paz133 Yes indeed. But that money dos NOT come from any form of value creation, it comes out of the pockets of other people. The ancient Greeks did not have bitcoins, but already had a word to describe such scams, i.e. making money from nothing else than money: Chrematistics! And the contemporaries of Aristotle did not hold that in high esteem, but as a concept opposed to, and detrimental to the real economy of the city.!
@@Zeppelin9899 Gold is no investment, it is value preservation. Cryptos are no investment, they are Ponzi schemes with zero underlying value. My portfolio beats the bitcoin performance you cite... every years... except the 10+ years ones, quite obviously.
he was just blurting these numbers out loud knowing he was adding hype to the speculation lol he was probably hoping margin debt would have allowed crypto to get that high .. hes not dumb, this guy is a crook!
@@Victic005 i saw that lol i have nothing against crypto just against people stealing wealth while providing no absolute value, i am diversified and always favor tangible assets even if they are boring lol
Because he's one of the few at the top of their ponzi scheme. They have taken relatively small amount of their money and screwed their so called customers so even if they end up with only 1 billion dollars they are set for life after trying to legally show how the rest just disappeared. You see with walking away with 1 billion dollars they can hire high end lawyers, clog up the legal system and not do any time. My 2 cents. Probably what most crypto customers are going to end up with.
This aged almost as well as Peter! 😂 This is why I’ve been following Schiff since occupy wall st. Regardless of how popular his opinion is at any given time, he sticks to his guns backed by facts and not sentiments and often ends up being right. Keep up the amazing work Peter! 👍🏼
People want so bad for “this time is different” they’ll fall for just about anything. No good will come from a System that requires little-to-no input. We are here now.
There's no way he believes deep down that it's best to go back to the gold standard after the US stole all the gold in 1971. Why would he want a corrupt country that caused this colossal fiat bubble to retain control of the financial system after it explodes? OH that's right he collects fees from his gold fund. He doesn't care about the countries that are going to get steamrolled by imperialists looking for gold to fund their operations. He just wants fees
Totally, first time here as well. I am positive that he was trying to prevent people from getting hurt and not listen to all the BS this guy was vomiting. He actually said to join the rich people club and borrow to buy Bitcoin. WTH?! OMG! Can you imagine if PENSION FUNDS bought into this bullshit?? All of America would be F'd!!
I love bitcoin. But most of all I love good critics. Helps me learn how to safeguard my wealth in a more strategic way. I might not agree with Peter but he is smart and I respect that. Just think he is ultimately wrong about Bitcoin in the long run. People need to stop obsessing over these prices and talk more about the development. - Taproot - Bitcoins payment layer(Lightning) - Projects like Taro and Lightning Labs Sadly all we all seem to focus on is the prices. Gold is iight silver too. That's why there's nothing wrong with holding them also.
"I told you so" is one of the greatest feelings, even if you were just trying to educate people. Peter, your knowledge and confidence is infectious! I could listen to you all day.
@@howo357 if you want to get rich really fast, bitcoin is way to go. However, bitcoin don't have intrinsic value; making chips, jewelries, EV cars, electronics, ect....
In November I told my stepmom crypto was a function of low interest rates and it would crash when the fed raised rates. November 30th. I was so right!!! Thanks Peter!
I have found that to be true. I sold life insurance for A.L. Williams. Our focus was to replace the industry standard, over priced Whole Life insurance with much cheaper term insurance and investing the savings in mutual funds for retirement. For the general population this was a way better idea. I had a hard time getting people to believe me that they had been fooled by greedy insurance companies and agents who were earning much better commissions convincing them to buy that garbage.
I am pro BTC and made gains from it's two all-time highs recently. Anyone with a brain knew it was going to drop and test the all-time high from 2018 ($18,000).
@@nathanwilliams7901 He's referring to the many, many people who don't just "invest" in Bitcoin - they spend an inordinate amount of time online haranguing people who are skeptical and don't want to partake and/or who ask critical questions about it, treating them like they're morons and telling them that they are going to be "poor" if they don't buy Bitcoin. If you don't know these people exist in droves, you must not spend much time studying this the "space" surrounding this "new monetary technology" at all.
@Peter Schiff, brilliant - just as you predicted in your debate with Mashinsky who was charged with Fraud today. From Reuters, Alex Mashinsky, the founder and former CEO of bankrupt cryptocurrency lender Celsius Network, was arrested and charged with fraud, the U.S. attorney in Manhattan said Thursday morning.
Peter is right again, and it is happening before our very eyes! A guy who never took a step back, took lot of BS during the years, and a lot of hate, but following always his principles, which were sounded in Austrian economics. I have been following him from 2008, and He will be proved right once more!
Peter saved me in 2008! He is a brilliant Austrian economist! I strongly recommend any self-invested individual follow Peter! He offers such great market insight!
Peter ur a true hero. The real ones never get the recognition they deserve. Everything you said was 100% correct. I was pro-bitcoin but after hearing ur arguments my eyes were open to the crypto deception. Thank you for your words of wisdom.
Hi Peter： You are often EARLY on a lot of things. And you get the last laugh. BTW, I suggest you should do another episode of *Peter Schiff was Right* on the cryptos.
It takes a crook to know a crook. I was at EuroPac for ten years. This dishonest POS and his brokers are bad people but believe what you want. I was once like you.
When Alex said gold has no value, Peter looked like he was gonna blow a gasket. Lol. Good job maintaining your cool Peter. Thanks for exposing the scammmmmm.
... Mashinsky seems like a smooth talking snake oil salesman to me. His twitter account is deathly silent since his Celsius imploded; What a maroon... one born every second.
Wow if that's true that sucks man. I tried doge coin with 60 bucks to try it out and lost most of it and said crypto isn't for me. How did it happen where you got in that deep if you don't mind saying? Am guessing you used leverage and it diddnt end well? Or do you still own the coins and you would have to wait till it rises up again if it ever does.
@@jaredhighlands4604 Celsius was a ponzi. You give them your crypto and they give you a login to a dashboard with numbers that go up. They offer high interest rates so the majority withdraw little or none of their own bitcoin and they use new or small amounts of the money to pay out the few people who do cash out. As soon as the scam loses momentum and their pool of money stops growing they close up shop and reboot with a similar scam under a different name.
Wow to hear him claim he generates yield on Bitcoin and gold... that's pretty striking in hindsight and Peter was right to keep asking him where those yields come from...
Off course he was right. Yet that does not make Peter a genius, but it does make all the people who ignore what he is saying an idiot...that is the most basic question that any real investor will ask...
Peter bodied both of them at the same time. Dude you are a cold blooded killer and I thank you for your genius. 69% of people can’t handle the truth and the rest run from it. Meanwhile Peter is the truth. Love this guy.
Kudos to Peter for ringing the alarm bell. Hopefully someone listened and saved their investment. Bitcoin was $60k when this aired! Now $20k is the resistance. Hard to feel bad for anyone suckered into the crypto and NFT scams. All the red flags were there
I watched the original video last week. Peter schooled both of them. It’s too bad the fake media is covering up the truth. That’s why we need people like Peter, he does his homework and has the facts to back him.
I can't stand that woman. Peter is right about pushing bitcoin (they are pumping). About 90% of the commercials I get on YT are about solar panels and crypto.
Peter has been right about every macro Economic prediction he has made… One can only wonder what it’d be like to have a realist and straight talker running this country… I consider him a mentor, too bad too many people continue to ignore him
I mean, he had also called the BTC top at 20k, 28k, 32k, 36k, 44k, 54k. Being right on the fundamentals is not the same thing as making the same wrong call repeatedly until you're finally correct. He's also had gold predictions that were enormously off the mark for years, proving wrong every time. I don't fault him for it. He has an excellent sense of fundamental finances, but price prediction is a whole different beast which is grounded more in market sentiment, until the fundamental values finally catches up to it at some point, Or fundamental values change to meet the market sentiment. It happens both ways. Being correct about fundamentals today can give a good indication for a possible future, but it can also be a completely wrong call because market sentiment thinks in the complete opposite direction.
@@ShorlanTanzo, he has repeatedly told the world where the feds monetary policy would lead and here we are. He called the housing crash years before it happened and they laughed. He was against the bank bailouts, quantitative easing,artificially holding down interest rates, and free money for everyone. He has never made the wrong call on the economy and always told people if you are going to invest, make sure it is in good companies that pay a dividend and make things that people need, not want.
Peter and his father Irwin have made a habit of defending reason. Whereas new clowns come out of the woodwork with every mania, the Schiffs are always there to expose the fraud.
I love it! At roughly 4:55 into the video, Mashinsky states that, "You just not gonna see Bitcoin go below that (the $45K to $50K price level) for a variety of reasons". And even when Peter tried to get Mashinsky to repeat that claim, he didn't want to. But the audio in the video is all we need. I wonder what Mashinsky is now saying since Bitcoin had fallen below $20K? Good job, Peter, for continuing to educate and to inform us!
Peter, the best thing I love about you over the decades I've been following you, is simple....consistency. Gold will destroy the FED! And your dad(whom woke me up) was right about the IRS scam...1913...need I say more.
@@martinlutherkingjr.5582 it earns no money, it is not easily adoptable and there are these things called governments that have guns and jails that if the thing ever did get widely adopted it, would crush it overtly or tax it to death to the point you wouldn't want it. My research is done. Enjoy your ride down.
@@martinlutherkingjr.5582 okay lets do actual research, guy in this was wrong. Bitcoin did crash like a mfer. Peter Schiff was right once again. Research done.
@@therotaryrocket I remember watching in March of 2017 the day one bitcoin became worth one oz of gold. Schiff claimed it would crash then. Even with the drop in bitcoin, it is still worth 11 oz of gold. So, to say he was right only takes into account what he said the last few months, not the last few years. Anyone who bought bitcoin instead of gold in 2017 or before, is way ahead.
Mashinsky claimed that $3 trillion migrated from fiat to the crypto world. That's not true. The actual amount that migrated was a small fraction of that total. Most of the $3 trillion came from paper appreciation. But using his own standard since this debate $2 trillion has migrated out of crypto back to fiat.
Well done Peter, keep up the good work against all these ponzi schemes.
You tell em Peter! Looks like you are ready to Rumble there! great Job!
Thank you, Peter. Thank you.
I wonder how often and for how much money Peter has been approached to shill for bitcoin. Amazing strength to always stay true to his values, no pun intended.
Soon to be $10 trillion USD market cap for cryptos.
I have huge respect for Peter calling them out every time. He is a warrior.
yeah he even went after the host and kitco for having bitcoin advertisers. Scheef is wolverine.
I just Love Peter Schiff so much! He always lands to the points straight forward!
Peter the boss 🙏🏻😎
I dont always agree with Peter, but Im certain he almost always talks straight. He's a rare honest person. Tons of respect.
The other nobody is rambling and waffling.
peter is fun too watch kick ass!!!
Thanks Peter for not putting up with their BS. More people need to do this
She is a useless pice of T&A.
pm is more bullshit
The IRONIC thing is that Bitcoin uses a Gold Coin for its logo.
Biggest scam ever , an electronic token .
It's funny how in hindsight, Peter Schiff always seems to be right. 😂
It’s scary how accurate Peter’s described what was going to happen and it’s currently happening exactly as he said.
true. I lost a bunch on celsius
And all the cult followers with their heads up their asses claimed he was spreading "FUD".
@@biosgl IM not even in celsius and i lost more than u since the market dip.
@@um8440 how do you know how much I lost? Also the dip is not losing your coins.
@@biosgl I know.
"You're not going to see Bitcoin below $55,000 no matter what" - Celsius Ponzi Man
Crypto a fools game!
Lol and we are under 20k now.
Correct. Mr Mashinsky will pay the difference below 55k. 🤔🤔😉😉
Used car salesman
BTC won't even be used 10 years from now.
We love you Peter Called this Scam artist out and PETER WAS 100% Correct
Peter correct once again.
BTC won't go to zero. Alt coins and platforms are the scams.
Poor P Schiff. 11 yrs & 45% gold return. Bitcoin same time made 12000% return LOL
@@mikeoz4803 BTC Lost 60% of value in couple of days. great asset for suckers ;)
PETER CALLED IT...and Dopes Still in Denial...😆
I knew when I first saw this interview on Kitco i'd be reviewing it at a later point...and here we are.
True true
I've never seen Peter this fired up. Well done sir!
i liike kitco but peter got urass bitch
Agreed
Peter’s BS meter went through the roof with this guy.
He knew that Alex is lying through his teeth, and he wasn’t afraid to show it!
Peter is a A class example of being a principled man. Take note
How so
@@skyhappy Confidently believes in himself and his logic, not to the point of delusion. Also he has a strong set of ethics, doesn’t shill things he doesn’t believe in. Remains rooted no matter how many naysayers, opportunistic gain arises or unpopular his expression of thought is. A principled man, is very rare. His father was the same. That’s the biggest reason I like to follow Peter.
@@EliteBeast How long have you been watching his stuff
@@skyhappy at least 5 years.
@@EliteBeast Peter is a straight shooter, using logic and reason to make it.
Never seen Peter quite so agitated as in this debate, but for good reason, he is trying to save people from financial ruin.
He is already in the top 1% ...no need to lie. He actually cares about people on this Ponzi scheme.
you nailed it. couldn't say it any better.
he's depressed because people by crypto & not his ancient gold
@@mikeoz4803 peter is already rich dummy. He doesnt get bought into ponzi schemes on the other hand.
He probably mad that his son list money in Bitcoin. He said that his son put all his money in it.
Peter RIPPED into her, wow. 😂 Rightfully so. This was a malinvestment pyramid scheme from the jump.
Michelle's a good bird but did walk straight into that and handled it well. Peter went too far calling her a shill.
@Add g He reached a new level of righteous anger in this one. He knew this had to be a Ponzi* scheme.
Damn ya I watched this whole video last week and didn’t remember that. He was brutal. I actually think she’s usually a pretty good interviewer. Peter is not afraid to call out the BS, someone has to do it
Yea that's the first time I've seen him argue with moderator.
While she is usually polite and professional, she was definitely behaving like a teenager talking back so he definitely had to control the situation
Imagine Peter getting laughed at and mocked only to be right less than a month later. Massive props to his conviction.
I feel like I've seen it before 🤔
I know how it must of made Peter feel when they belittle you ,but on national news ouch ,I wish Peter had stood up and said fuck you guys.
When my family was working on windows development for Dell they told me it would become the new operating system I was laughed at at work for telling and people said DOS was going to stay .what the hell do you know. I suppose it’s a human psychology thing people don’t like it if you are smarter than them .
Bitcoin hasn't gone to 0 🤔
Lmfao. ”Are you moderating this or here to tout bitcoin too?” I wish I saw this when it originally came out.
Awesome! Yes!
Then called her a shill
He caught a lot of heat from the bitcoin clowns claiming he was just mad that bitcoin was doing so well. For many months the comment section of Peters videos was full of bitclowns but now they seem scarce 🤔
Moderators need to learn to get out of the way. Their only responsibility is to ensure that both participants have an equal opportunity to support their own positions. So long as the debate remains respectful and on topic, the moderator has no business interrupting.
She probably has all her bitcoin stored in CELSIUS NOW?...😆 🤣
Whether you agree or disagree with Peter, you have to admire his stick-to-itiveness and logic, and his ability to clearly communicate his position.
Whats there to disagree with?
This was posted AFTER that guys scam exploded… You can’t disagree with Peter here lol
Peter is the only person in the media speaking the truth!!! Ha-ha Peter just quoted Bernie Madoff....now that was solid F-ing GOLD!!!!
@@user-mr3sx5yz6t Easy to say when bitcoin is now at 20k but who in their right might ever thought it would bubble to 60k?
@@DIYDaveT this was 6 months ago. The fomo was exactly the same from 2004 to 2007 in the housing market. All the signs were there that it was a bubble. You just had to take off the rose coloured glasses.
Love how Schiff calls them BOTH out. Way to go Peter! I don't always agree with you but I do here 100%
What’s to disagree with?
Yeah… what do you NOT agree with? I’m curious because the guy speaks common sense on most issues.. just wondering
On gold
@@shaneoakes3201 He only holds like 10% of his portfolio in gold He always says this and he is more into mining stocks
Yea I don't disagree with that but I listen to his podcasts and he thinks money should be back by gold and I disagree
He got arrested. Complete and utter Schiff victory
yup
This was an awesome debate to watch and Peter Schiff was justified to call Michelle Makori out for interrupting Peter more than she did Alex Mashinsky.
Brill work, Peter👌🏻
Alex Mashinsky was impolite and smug during this debate, well look at Celsius now🤣😂😄
Yeah Michelle was patronising there a one point... kitco are clueless. David is even worse.
Alex M doesn't even make good valid points for bitcoin. And I'm not a fan or invested in BTC.
gold has no value. it just makes expensive jewelry and high fidelity electronics... lolz...
100% correct
@@AsterothPrime you wouldn't have been able to make this worthless comment without gold 😂
Mr. Schiff had it right on. He saw through all the hype.
Poor P Schiff. 11 yrs & 45% gold return. Bitcoin same time made 12000% return LOL
@@mikeoz4803 You must admit Bitcoin certainly isn't an inflation hedge and is def a bit unstable (to be kind) but let's hear your price prediction for bitcoin in one year...put it in writing. I'll say Gold at $1950
@@mikeoz4803 ... What are smoking bro?...lol..😆
@@mikeoz4803 You just showed how ignorant you are 😉😉 I think you should watch the video again.
@@MrRainrunnerYou called it.
This aged like gold
Gotta love the irony of Peter calling out the moderator for shilling BTC, only for their crypto sponsor ad to pop up while Peter is destroying Bitcoin 😂🤣
no mercy....priceless🤣
Hasn’t he shilled metals?
@@alexmendoza9270 of course! He shills some stuff I find questionable too such as mining stocks which are very high risk and speculative. But he also pushes investment in foreign markets, oil stocks, gold and silver. All four of those are solid picks imo. The mining stocks are something he seems to believe will skyrocket eventually when gold skyrockets in value. I disagree, because the cost of oil (fuel) is skyrocketing so mining will still not be very efficient. If somehow someway fuel prices plummet during the demise of fiat then yes mining stocks might go to the moon.
@@Ziegfried82 “They call me chicken little.” th-cam.com/video/VUBFCaWiQ28/w-d-xo.html
@@Ziegfried82 th-cam.com/video/yNWPOgBfEAA/w-d-xo.html. He calls it right every 10 years but it takes 12 years to happen.
And now Celsius is in trouble for these wonderful “dividends” and the 1.5 million customers are locked out of their accounts and could lose all their money. Good job Alex.
ouch
That was the whole point. However, anyone buying bitcoin really deserves the losses. They have no business having wealth.
who would have guessed, eh? and who knew that gold actually was worth something? You learn something new everyday...
Yep!
@@someguyontheinternet7628 this is true, you got Michael Saylor telling people to mortgage their houses and take out loans on their family business to buy bitcoin. That moron is going to lose everything to lawsuits.
This interview is pure gold. Thank you for this Peter.
Yes. How is that 'digital gold' thesis working out for Bitcon?
Damn, Peter is ripping them up, in hindsight he’s a hero amidst all this Bitcoin shilling
Peter has dedicated his life to global economics and understands markets better than anyone. Watching this play out as he always said it would is quite spectacular
As he said it would? He’s been saying Bitcoin will go down for almost a decade. He’s lost his followers massive amounts from being in Gold instead of Bitcoin.
He’s wrong. It’s there in the track record. Gold is break even, but LOST value over 10 years after accounting for inflation. Btw I hold Gold. I think it has its place also, but Peter is wrong about Bitcoin. The numbers for 13 year track record are incredible. Even over last 2 years it’s up almost 300% still.
Bitcoin 1 year -35%
Bitcoin 2 year +300%
Bitcoin 5 year +700%
Bitcoin 10 year +154,000%
Bitcoin 13 year +670,000,000%
Gold 10 year. Break even. Negative with inflation.
Ya Peter is really killing it with these predictions.
@@Zeppelin9899 Gold is no Ponzi scheme. It's been a repository of wealth for millennia, and will be so as long as there is a human civilization... and probably beyond. BTC and other cryptos are nothing else but sophisticated Ponzi schemes!
BTW, I invest in TSLA, and realize it is beating BTC, while having a strong and fast growing underlying value.
@@Paz133 Yes indeed. But that money dos NOT come from any form of value creation, it comes out of the pockets of other people. The ancient Greeks did not have bitcoins, but already had a word to describe such scams, i.e. making money from nothing else than money: Chrematistics! And the contemporaries of Aristotle did not hold that in high esteem, but as a concept opposed to, and detrimental to the real economy of the city.!
With all that knowledge you'd think Europacific would have better performance.
@@Zeppelin9899 Gold is no investment, it is value preservation.
Cryptos are no investment, they are Ponzi schemes with zero underlying value.
My portfolio beats the bitcoin performance you cite... every years... except the 10+ years ones, quite obviously.
19:30 classic. He has a bet BC will be above 100k-150k by April 18 2022
Now bankrupt
That was hilarious! By tax day.
Lol
he was just blurting these numbers out loud knowing he was adding hype to the speculation lol he was probably hoping margin debt would have allowed crypto to get that high .. hes not dumb, this guy is a crook!
@@dudend22 so is the narrator of this channel. She's pushing crypto too.
@@Victic005 i saw that lol i have nothing against crypto just against people stealing wealth while providing no absolute value, i am diversified and always favor tangible assets even if they are boring lol
Looking forward for "Peter Schiff was right - crypto edition"
You are absolutely right my friend. That will be awesome !!!
Mashinsky should be prosecuted. How do these guys get away with this scam.
Because he's one of the few at the top of their ponzi scheme. They have taken relatively small amount of their money and screwed their so called customers so even if they end up with only 1 billion dollars they are set for life after trying to legally show how the rest just disappeared. You see with walking away with 1 billion dollars they can hire high end lawyers, clog up the legal system and not do any time. My 2 cents. Probably what most crypto customers are going to end up with.
It's in the fine-print, the depositor assumes all the risk...😂
How do these guys get away with this scam.
google his early life
Same way casinos do, it’s a gamble. But let’s no devaluate crypto in general, sure there are scams big scams.
Just look him up and find out
This aged almost as well as Peter! 😂
This is why I’ve been following Schiff since occupy wall st. Regardless of how popular his opinion is at any given time, he sticks to his guns backed by facts and not sentiments and often ends up being right.
Keep up the amazing work Peter! 👍🏼
People want so bad for “this time is different” they’ll fall for just about anything. No good will come from a System that requires little-to-no input.
We are here now.
There's no way he believes deep down that it's best to go back to the gold standard after the US stole all the gold in 1971. Why would he want a corrupt country that caused this colossal fiat bubble to retain control of the financial system after it explodes? OH that's right he collects fees from his gold fund. He doesn't care about the countries that are going to get steamrolled by imperialists looking for gold to fund their operations. He just wants fees
Petie is younger than Tom Cruise, Peter has aged like my left nut sac
Peter is a sensible Man and sexy 😍
Peter has underperformed the market and lost his clients money for decades. Peter just had all his assets frozen. He’s just a good talker.
This is legit first time I've ever seen Peter get mad. Thought he was about to go through the screen and beat that moderator
I thought exactly the same xD Peter got some steam in him this time. Totally agree with him though.
Mrs. Potato Head would've been a better moderator; she would've worn less makeup, too.
Totally, first time here as well. I am positive that he was trying to prevent people from getting hurt and not listen to all the BS this guy was vomiting. He actually said to join the rich people club and borrow to buy Bitcoin. WTH?! OMG! Can you imagine if PENSION FUNDS bought into this bullshit?? All of America would be F'd!!
@@bicmitchum4715 SCHIFF IS A DECENT GUY I RESPECT DAT
😂😂😂😃
This was a legendary clip of our own Peter Schiff!
Amen! I do listen to everything he posts.
Peter was ringing the alarm bell but many people were fooled by the ignorance of the educated fools who really do not understand common sense reality.
I love bitcoin. But most of all I love good critics. Helps me learn how to safeguard my wealth in a more strategic way.
I might not agree with Peter but he is smart and I respect that. Just think he is ultimately wrong about Bitcoin in the long run. People need to stop obsessing over these prices and talk more about the development.
- Taproot
- Bitcoins payment layer(Lightning)
- Projects like Taro and Lightning Labs
Sadly all we all seem to focus on is the prices. Gold is iight silver too. That's why there's nothing wrong with holding them also.
Mashinsky is now a proven conman. RIP those who lost everything on Celsius.
He's an Ukrainian-Israeli - this means check your wallet and stay away!
I just got a hold of Alex Mashisky's transcript.
Microeconomics 101 - F
Macroeconomics 101 - F
Gender Studies - A
😂
😂😂😂😂
😂
I like the fact that Peter didn’t allow the moderator and the guest to bully him. This is typical behavior from the media.
The moderator bullied him? Pointing out that dips after new highs are common? Wow, that's pretty desperately pathetic.
@@eusebiusthunked5259 For that twat to keep interjecting when he is trying to make a point is desperately pathetic.
He pretty much tried to bully her to be fair, shouting at her basically 😂
@@eusebiusthunked5259 well I got 156 thumbs up on my comment, so I guess 156 people agree.. lol If you have time today, go buy some more bitcoin.
@@negotiable_terms1848 yeah let him buy more of that shit, it's getting cheaper
"I told you so" is one of the greatest feelings, even if you were just trying to educate people. Peter, your knowledge and confidence is infectious! I could listen to you all day.
peter said bitcoin is a scam back when it was $100 lmao
he does make sense
I mean he could say I told you so every 4 years bitcoin halving cycle. This clock is right every 4 year
@@howo357 if you want to get rich really fast, bitcoin is way to go. However, bitcoin don't have intrinsic value; making chips, jewelries, EV cars, electronics, ect....
@@howo357 stock market too
People like this guy are the reason why the world is getting worse and worse.... thank you peter for all your effords.
In November I told my stepmom crypto was a function of low interest rates and it would crash when the fed raised rates. November 30th. I was so right!!! Thanks Peter!
Peter said this?
@@skyhappy this is common sense.
Good for you and paying attention to come to your conclusion
What is she saying now lol
Is she stuck?
Peter Schiff is totally vindicated once again! This man can't miss!
Poor P Schiff. 11 yrs & 45% gold return. Bitcoin same time made 12000% return LOL
@@mikeoz4803 your double-digit IQ is showing.
@@mikeoz4803 Peter IS THE 1% OF THE 1% DIPSHIT.
@@mikeoz4803 How much of your bitcoin did you sell?
Peter is such a beast I remember watching this the first time and I couldn't believe how weak the counter argument was.
Stansberry should have had Schiff v Saylor instead of the drip they had on gold’s side. He couldn’t argue against Bitcoin and I hate BTC
Peter is right once again, keep up the good work Peter, Bitcoin is at 20k now
Thanks for watching ☝️☝️
For mentorship and
guidance
Message me direct ☝️☝️
It’ll be in 200k by 2025
Peter always is 6 months ahead over everyone and no one gives him credit
When you're in bed with scam artists, you don't want to praise the guy calling out the scam.
The crash that's about to happen to the dollar Peter saw decades ago.
Being a libertarian economist is like living 2 years into the future at all times. Everybody else is just waiting to catch up.
It’s cause he won’t accept credit since it isn’t a real store of value
@@simonjdeangelo lol thats pretty clever
“It’s easier to fool people than to convince them that they have already been fooled “ - Mark Twain
hush Brian, and buy Bitcoin.
I have found that to be true. I sold life insurance for A.L. Williams. Our focus was to replace the industry standard, over priced Whole Life insurance with much cheaper term insurance and investing the savings in mutual funds for retirement. For the general population this was a way better idea. I had a hard time getting people to believe me that they had been fooled by greedy insurance companies and agents who were earning much better commissions convincing them to buy that garbage.
right on point
Except Peter is also trying to fool people into gold lol
Schiff needs to go on Timcast. Love him telling that moderator to stfu.
I guess she does have a lot on Bitcoin.
On the few occasions Peter has come up on Tim’s show, Tim has not had positive things to say about Peter.
I could watch this 100 times. Peter wanted to come through the screen and he was 100% right.
The arrogance of the bitcoin crowd makes this crash that much more satisfying.
Bitcoin crowd? You dislike people based on their investing in new monetary technology? That's weird.
I am pro BTC and made gains from it's two all-time highs recently. Anyone with a brain knew it was going to drop and test the all-time high from 2018 ($18,000).
@@nathanwilliams7901 He's referring to the many, many people who don't just "invest" in Bitcoin - they spend an inordinate amount of time online haranguing people who are skeptical and don't want to partake and/or who ask critical questions about it, treating them like they're morons and telling them that they are going to be "poor" if they don't buy Bitcoin. If you don't know these people exist in droves, you must not spend much time studying this the "space" surrounding this "new monetary technology" at all.
Delicious delicious schadenfreude 😆
I love bitcoin. Keeps the price of real assets low!
Peter spitting straight fire. Should drop an album.
When Peter called out the advertisers it did seem to freeze the moderator quite a bit lol
She's Kitco news editor in chief.
@@davebellamy4867 yeah, i'm sure she earend that
@Peter Schiff, brilliant - just as you predicted in your debate with Mashinsky who was charged with Fraud today. From Reuters, Alex Mashinsky, the founder and former CEO of bankrupt cryptocurrency lender Celsius Network, was arrested and charged with fraud, the U.S. attorney in Manhattan said Thursday morning.
This is the best interview I have seen in years, Peter you did great.
Petter dropping the hammer 🔨
Peter is right again, and it is happening before our very eyes! A guy who never took a step back, took lot of BS during the years, and a lot of hate, but following always his principles, which were sounded in Austrian economics. I have been following him from 2008, and He will be proved right once more!
Peter saved me in 2008! He is a brilliant Austrian economist! I strongly recommend any self-invested individual follow Peter! He offers such great market insight!
Peter ur a true hero. The real ones never get the recognition they deserve. Everything you said was 100% correct. I was pro-bitcoin but after hearing ur arguments my eyes were open to the crypto deception. Thank you for your words of wisdom.
Hi Peter：
You are often EARLY on a lot of things. And you get the last laugh. BTW, I suggest you should do another episode of *Peter Schiff was Right* on the cryptos.
exactly. as he said, "you can't but to be too early".
Congrats on getting half a million subscribers Peter! Great job calling out Alex on taking high risk but kept saying he’s taking no risk or low risk.
Celcius going to prison over this one… “gold has zero value.” Proceeds to list all values of gold
Somehow makes above a 5% dividend yield on gold without taking on any risk with 0% interest rates at the time
Thank you Peter for standing up to these crooks, we appreciate you very much.
It takes a crook to know a crook. I was at EuroPac for ten years. This dishonest POS and his brokers are bad people but believe what you want. I was once like you.
When Alex said gold has no value, Peter looked like he was gonna blow a gasket. Lol. Good job maintaining your cool Peter. Thanks for exposing the scammmmmm.
😂 yup....was waiting for it.
😆
Mashinsky should be synonymous with ponzi, or more specifically a digital ponzi 😂 Peter the prophet is right again.
All these crypto idiots will be laughed at in a year or two.
What’s makes a great man isn’t whether he is right or wrong. Admittedly Peter Schiff has been right overwhelmingly over an extended period of time.
Peter, keep letting em have it! Your best interview/podcast episode in 3 years!
... Mashinsky seems like a smooth talking snake oil salesman to me. His twitter account is deathly silent since his Celsius imploded; What a maroon... one born every second.
Since you're taking the position of being so smart, maroon is a color. LoL
You're absolutely right. He checked all of the boxes for an elaborate scam.
@@peaceonearth8693 Noun. maroon (plural maroons) (slang, derogatory) An idiot; a fool.
Peter got her early and good! It is hilarious to watch him shred people trying to interrupt him. LOL!! To Funny!!
Partisan "moderators" are horseshit. It's not a debate it's
2 vs 1.
Too funny (you mean)!
@@emilybh6255 there always has to be a grammar freak. I hope you feel better about yourself and superior and arrogant.
Peter, your wisdom is legendary.
I agree
Lengend....
Peter Schiff is an absolute legend
As soon as Peter started clipping his eyes listening to them i knew he is about to unleash. Legend
Savage
wow, that was something!
Lol
Great stuff
This needs to be aired on every media outlet in the world. This is criminal and these bitcoin pumpers need to be held liable.
Sadly most mainstream media outlets in the world are CRIMINALS.
Good luck with that. No one forced a bunch of morons to speculate with BTC. Let them take a haircut. The pumpers are the smart people.
Pump and dump is their game
Most media are involved in the form of fraud. Fake news is fixed part of their business
They should be in jail.
Peter was right again. When people are frothing in an asset class the feeling is always that it will never go down. BTC 20K today.
I watched this when it came out. Mashinsky's just been arrested. Good job people like Peter are out there pointing out this non-sense.
Haha! I like how he said you're probably sponsored by some crypto thing, then minutes later boom ad for De-fi brilliant Peter.
Lost my whole life savings (3BTC) on celsius I wish i would have listen to peter
Jesus, that's terrible. I hope you're OK.
Wow if that's true that sucks man. I tried doge coin with 60 bucks to try it out and lost most of it and said crypto isn't for me. How did it happen where you got in that deep if you don't mind saying? Am guessing you used leverage and it diddnt end well? Or do you still own the coins and you would have to wait till it rises up again if it ever does.
@@jaredhighlands4604 Celsius was a ponzi. You give them your crypto and they give you a login to a dashboard with numbers that go up. They offer high interest rates so the majority withdraw little or none of their own bitcoin and they use new or small amounts of the money to pay out the few people who do cash out. As soon as the scam loses momentum and their pool of money stops growing they close up shop and reboot with a similar scam under a different name.
That sucks man but money's not everything and I'm sure you'll learn from it.
“You probably have a bunch of bitcoin advertisers” lol 😂 classic
in her face.
She's the editor-in-chief, and this is the last time Peter Schiff will be on Kitco...🤣
He was right. There were advertisements popping up during the interview for crypto services.
@@EroticOnion23 No loss. Kitco's been circling the drain for awhile now.
The minute he said gold has no value, he exposed himself as a fraud.
No doubt.
Man Peter was mad as hell.🤣
Peter is hilarious, but should probably be more respectful to the host 😂🤣😂
Amazing. But she was quite unfair so Peter war right.
@@ccpj0eyb319 he is used to be intervied by msm wackos 🤣🤣
@@ccpj0eyb319 Bull 💩. The overpaid hooker should have been respectful to her guest.
"Looks like the bad guy from Dune" (the Big Short)
Good to see Peter getting aggressive. In the face of blatant bias from the moderator, being assertive is the only way to fight back.
Wow to hear him claim he generates yield on Bitcoin and gold... that's pretty striking in hindsight and Peter was right to keep asking him where those yields come from...
Off course he was right. Yet that does not make Peter a genius, but it does make all the people who ignore what he is saying an idiot...that is the most basic question that any real investor will ask...
@@stochasticone2058 I read KiGl Photo's comment at least a dozen times, and I can't seem to find the word "genius".
So where does he generate yield? No one seems to know. Or not saying.
@@farmerdude3578 lends it out and makes risky investments
Bitcoin don't generates yield, only it grows because more people are buying or mining it. gold generates yield because he can be uses as commercially
Michelle Makori will not want to re-watch this interview again LOL
The truth is painful and Peter is merciless 😂😂👍👍👍
Actually he's very merciful. He's trying to help you avoid these scams and he takes a lot of shit for it.
@@johndoe1.196 It is good that he takes so much shit, lets you know you are over the right target
wow...he absolutely ripped both of em
Someone get Peter a jersey with 23 on the back, he just won the dunk competition
😭😭😂😂🙏🏻
Go peter go! I like how calls her on her BS! She is sneaky on pushing her narrative.
Peter bodied both of them at the same time. Dude you are a cold blooded killer and I thank you for your genius. 69% of people can’t handle the truth and the rest run from it. Meanwhile Peter is the truth. Love this guy.
I gotta say Peter always seems to be correct on his calls, and makes fouls of the people that doubt him!
Kudos to Peter for ringing the alarm bell. Hopefully someone listened and saved their investment. Bitcoin was $60k when this aired! Now $20k is the resistance. Hard to feel bad for anyone suckered into the crypto and NFT scams. All the red flags were there
peter said bitcoin is a scam back at $100 lmao
Lol, except the people that didn't listen to him for 99% of its lifespan are up more than 10x
@@pablo369 yep...
@@pablo369 It was and it is. All it takes is enough fools to believe the scam so the early people can get out and leave others holding the bag.
It's even gone far down below 20k resistance level now bitcoin market price value...
Peter The Great Congratulations on reaching 500K subscribers. 👍 Always refreshing hearing Peter.
Peter was spot on. Well done. Where is Celsius now? Gone
I watched the original video last week. Peter schooled both of them. It’s too bad the fake media is covering up the truth. That’s why we need people like Peter, he does his homework and has the facts to back him.
Poor P Schiff. 11 yrs & 45% gold return. Bitcoin same time made 12000% return LOL
@mike oz Alex is that you?
@@mikeoz4803 Talk about the people that just bought into it. How have they done?
@@edharper7152 it's a daytraders market.
@@mikeoz4803 stop measuring lows to highs it really means nothing for the NEW technology.
I can't stand that woman. Peter is right about pushing bitcoin (they are pumping). About 90% of the commercials I get on YT are about solar panels and crypto.
She loves to interrupt.
I'm the 236.571st comment saying:
"Peter Schiff was right!"
Peter has been right about every macro Economic prediction he has made… One can only wonder what it’d be like to have a realist and straight talker running this country…
I consider him a mentor, too bad too many people continue to ignore him
I mean, he had also called the BTC top at 20k, 28k, 32k, 36k, 44k, 54k. Being right on the fundamentals is not the same thing as making the same wrong call repeatedly until you're finally correct.
He's also had gold predictions that were enormously off the mark for years, proving wrong every time.
I don't fault him for it. He has an excellent sense of fundamental finances, but price prediction is a whole different beast which is grounded more in market sentiment, until the fundamental values finally catches up to it at some point, Or fundamental values change to meet the market sentiment. It happens both ways.
Being correct about fundamentals today can give a good indication for a possible future, but it can also be a completely wrong call because market sentiment thinks in the complete opposite direction.
@@ShorlanTanzo, he has repeatedly told the world where the feds monetary policy would lead and here we are. He called the housing crash years before it happened and they laughed. He was against the bank bailouts, quantitative easing,artificially holding down interest rates, and free money for everyone. He has never made the wrong call on the economy and always told people if you are going to invest, make sure it is in good companies that pay a dividend and make things that people need, not want.
@H C , who said he invented it? You sound ridiculous and yes a few others have warned the world and were ignored.
He shold run as an independant for president. He would get a lot of votes and maybe could straighten out some of the financial mess the country is in.
He also gets stuff wrong all the time, being skeptical of bitcoin or crypto doesn't make you a genius
Dammmm that didn't age well for Mashinsky, really brave on Peter's part to stand up to him like that
Peter and his father Irwin have made a habit of defending reason. Whereas new clowns come out of the woodwork with every mania, the Schiffs are always there to expose the fraud.
It's easier to be brave when you're preaching what you believe.
“Game recognizes Game”
“I have met some of my customers.”
-Mashinsky
I’d like to hear the voicemails on his phone of the customers wanting their money 😂😂🤣
th-cam.com/video/xAlCbE-yCTw/w-d-xo.html
Your confidence is admirable, balls of steel!
I love it! At roughly 4:55 into the video, Mashinsky states that, "You just not gonna see Bitcoin go below that (the $45K to $50K price level) for a variety of reasons". And even when Peter tried to get Mashinsky to repeat that claim, he didn't want to. But the audio in the video is all we need. I wonder what Mashinsky is now saying since Bitcoin had fallen below $20K?
Good job, Peter, for continuing to educate and to inform us!
Schiff: The stock marked is overvalued, the Bitcoin marked has no value.
🤣
Peter, the best thing I love about you over the decades I've been following you, is simple....consistency. Gold will destroy the FED! And your dad(whom woke me up) was right about the IRS scam...1913...need I say more.
I really only watched the interview to see Michelle. She's hotter than a firecracker in July! 🔥 But I'm always glad when Peter Schiff is vindicated!
100% agree with Peter.
I was never a 100% Gold bug but this interview convinced me not to drink the cool aid of bitcoin and other garbage. I thank you for that.
Instead of drinking kool aid maybe you should do some actual research? Don’t trust. Verify.
@@martinlutherkingjr.5582 it earns no money, it is not easily adoptable and there are these things called governments that have guns and jails that if the thing ever did get widely adopted it, would crush it overtly or tax it to death to the point you wouldn't want it. My research is done. Enjoy your ride down.
Gold has been around for centuries and there is a reason for that.
@@martinlutherkingjr.5582 okay lets do actual research, guy in this was wrong. Bitcoin did crash like a mfer. Peter Schiff was right once again. Research done.
@@therotaryrocket I remember watching in March of 2017 the day one bitcoin became worth one oz of gold. Schiff claimed it would crash then. Even with the drop in bitcoin, it is still worth 11 oz of gold. So, to say he was right only takes into account what he said the last few months, not the last few years. Anyone who bought bitcoin instead of gold in 2017 or before, is way ahead.
Peter Schiff was right again.
Thank goodness Peter is one of the few people willing to call out the non-sense for what it is.
Peter Schiff is a national treasure