This episode is sponsored by: Mint Mobile: Cut your wireless bill to $15/month at mintmobile.com/gold. Indeed: Visit indeed.com/peter to start hiring now.
Crazy you don't understand how tariffs can actually be an effective strategy to create a more fair and balanced trade dynamic between countries. It's chess not checkers Peter, you're too smart to not understand the game theory at play here
The sad truth is that Peter Schiff and his strategies have never outperformed even the S&P 500 as long as I've been listening to him, basically because he refuses to factor in several grim truths about the world and economics. He is great entertainment and a great fundamental economist, and I agree we are going to have a crisis and a reckoning, however, my portfolio and strategy would be different from his in at least several or additional respects.
the long game is the collapse of the US dollar. until that happens, his thesis is wrong. the thing is, his reasoning is sound. we just live in a mad world, for now.
@@NicolasNicLeobold he has been right about gold though he’s been telling his listeners to buy gold for a decade now and the ones who did would have made substantial money on that with almost no risk.
@@joeg2760 That's a really dumb indicator. It's great you made a profit, but when more and more people know about BTC and cryptocurrency as a whole, the more popular it gets which means the more it will be worth. Anyone will tell you that BTC will keep going up, it's a safe investment and also something you can make money on trading, pretty easily I might add, but make no mistake that BTC will blow past 100k. There are obviously other investments to consider. There are some great alt-coins out there too that have way more earning potential than BTC at this point.
Thanks Peter for another great podcast. You are a good man posting from beautiful St Barts when you could be with your family at the beach. Appreciate it!
Thank you for doing this during the holiday week. I really look forward to your show. Would be cool if you made it more interactive in the future and took some calls.
rich gets richer, dollar stretches less and less making the rest poorer. but trump says its the greatest economy ever! you just dont work hard enough or smart enough!
Farming cooperates have worked very well. Not easy but more productive. My grandfather managed the first combine almost 100 years ago. All you need to do is keep the slimy government A- holes out.
@tuomastiihonen2231 No. It worked because all members were compensated at a higher rate because fewer crops were lost. But yeah , a better producer earned more. At the end of the season, more was produced.
I picked up 2 1/10th oz mint condition Philharmonics Monday, at the day's low, for UNDER Spot at a local pawn shop. I guess he thought the bottom was falling out. Both checked out good in the Verifier.
I buy local as well A lot of times it’s under spot If they buy it cheap enough they just want to move it and make what they can incase spot keeps falling
Gold stocks react to the future paper contracts. Spot price is suppressed this way. And bullion banks will do whatever they can to suppress this price, dragging miners down. This is not going to change until people see failure to deliver on paper market. Until this happens miners and gold will not reach real market price. You have to be aware of this. Peter will not tell you this.
I had no idea what thanksgiving was until your video. All I remember from grade school 40 years ago was Indians (Native Americans) and white man getting together to have a meal together. Seriously that is all I remember.
Do a podcast explaining why now is different than the 80s - because as a farmer, we are 100% followikg the 80s - the end digit year ...in 85 the dollar rallied to a record, and grain and land began to collapse, 86-88 farmland bottomed out at a 61% retraction ... considering the dollar and grain is doing, its following the 80s exactly...nothing like the 70s as you describe ..... but as a farmer we could also compare to the late 90s ... explain in depth what you think will happen
Nice story. Can't find any information to back up how you understand Thanksgiving. There are many versions and most of them state half of the Pilgrims died from starvation during the first winter, shortly after they landed at Plymouth Rock.
Peter explained the Tariff so well and what’s great for America. President Trump really needs to listen to this one otherwise American is going to look so bad in front of the world again. 😅 Can someone forward this video to him?
Peter, your yacht builder just called me and said he's been trying to reach you through your computer but you're not picking up. May want to check in with him.
The reason the dollar isn't getting weaker with trade deficits getting larger is that the demand for dollars abroad also increases in balance. Smaller trade deficits will break the balance in dollar's favor!
You can argue Thanksgiving goes back to father Abraham, the father of many nations, who the Bible records as the first pilgrim, left Haran to go to Canaan, quote Genesis 12:1-4, "1 ¶Now the LORD had said unto Abram, Get thee out of thy country, and from thy kindred, and from thy father's house, unto a land that I will shew thee: 2 And I will make of thee a great nation, and I will bless thee, and make thy name great; and thou shalt be a blessing: 3 And I will bless them that bless thee, and curse him that curseth thee: and in thee shall all families of the earth be blessed. 4 ¶So Abram departed, as the LORD had spoken unto him; and Lot went with him: and Abram was seventy and five years old when he departed out of Haran."
@@hummakavula1304 HEY the only reason this story was ever known was due to Rushes's research and labor to write the book and make it known to the world. The only story at the time was the crap you learned school! So if PETE is going to use it it then give credit where ITS DUE ditto head!
I have been saying this to every Trump supporter. Tariffs are a leftist solution and Trump is no that far right from Kamala they both have a left wing, I dont know how people don’t even recognize what free market and capitalism is. We need people like Schiff to educate people
Buddy I got a PPP loan I’ve been hanging onto it for years I’m actually now able to start a second business and I’m gonna use that money to finance my new business in 2025.
If you say don't fight tariff with the tariff is a bit hard to do for china etc goverment wants.. Coz if there is a lay off, then the taxes you get from the people will decrease too so they need another fund to fund their goverments program maybe like a new bonds again.. And the company with their deadline and dominated $ will be hard to pay the debts.. Coz their customer don't buy or just buy few stuff coz the tariff.. So it seems that don't fight tariff with tariff is a big NO for the politicians..
I get what you're saying about charity Peter but what does a person do who has a lifelong disease that effects every part of their life? Like I know a person with IBD who had half their intestines and rectum removed, spends half the day in the bathroom in pain with all kinds of terrible surgical complications. Their family doesn't want to help out so they collect the disability insurance that they paid for while they were working. There isn't enough charity out there to support all the people in these types of situations, who have selfish family members who don't fully understand the whole situation because it's a very personal matter that people don't like to talk about.
These things used to all be handed by charity, and then politicians decided to tax others to be charitable on our behalf. Should the person you cite, pay higher taxes to pay a government employee to give someone with the same condition whatever money is leftover? It also makes people less willing to give because they assume the government will handle it. This also assumes the government is helping those that need to be helped. Selfish family members would be removed from the family if families were stronger. This is a lot of Boomer talk where only the symptoms are being addressed and not the causes.
I made $302,114.14 (+126% gain) gambling on the last GOOG earnings with OTM calls. Call me old-fashioned, but I'd rather YOLO on earnings than buy BTC.
I went against my favorite team KC and doubled my money. But in the big games , the chiefs take no prisoners. BTC is going to take more prisoners than people believe. Watch out, the dream is a mirage 😂
The Eurodollar enables non-US domiciled commercial lenders to print(lend) USD into existence without needing the Fed’s/treasury dept’s approval. How do tariffs make a real dent in forex?
Human psychology Peter the sudden cost principle it becomes impossible for him to changes as well you notice he never talks about game theory and Bit coin
Peter misunderstanding the pilgrims, and calling them communists is a laughable take. Brother acts like the beneficiaries of capitalism today are in the fields today (and not drop shipping from Asia) compared to the reality which is the indebted serf class doing backbreaking work for their corporate overlords.💀😂
WOW, Super Religious people from 100's of years ago didn't believe in the section of the Bible where people were ordered to work hard. Wonder how the Amish survived and continue to survive. Believe in your point but the story isn't convincing.
I don't get the rivalry between gold and bitcoin. I figure anyone with all of their eggs in one basket is someone who has never seen the inside of an egg. Perception / Sentiment is what drives human action. BTC has never experienced a collapse of perceptions. Everything does sooner or later. Some folks call it a 'bubble'...but that's just another word for mass perceptions.
Gold bugs feel threatened despite Bitcoin people and Gold people both having the same enemies. Instead of allying and working to shrink government, Gold wants to be the One and Only option.
@fzr1000981 do you know what intrinsic value means? The security a block chain provides is such. Despite the out of value involved it hasn't, because it can't, be broken. It isn't complicated, and that's why boomers need to do some research.
This episode is sponsored by:
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I have MINT Mobile. It is great deal and has good coverage. It runs on the T Mobile network.
Crazy you don't understand how tariffs can actually be an effective strategy to create a more fair and balanced trade dynamic between countries. It's chess not checkers Peter, you're too smart to not understand the game theory at play here
Peter Schiff is a genius; explains issues so clearly - thank you from kiwi fans downunder
He is very knowledgeable just crazy on bitcoins lol 😆
@ but bitcoin is a Ponzi scheme isn’t it - works on the “greater fool” principle
The movie I couldn't remember the name of was "War Games."
Would you like to play a game of Thermonuclear war?
Great movie..
The only way to win, is not to play. So don't hold fiat, hold PM?
END THE FED. Gold IS money.
Pilgrims stopped calling in sick.😂😂
Another master class from Peter on history and economics. Always enjoyed, always appreciated. Thank you, Sir. Enjoy your Thanksgiving!
The sad truth is that Peter Schiff and his strategies have never outperformed even the S&P 500 as long as I've been listening to him, basically because he refuses to factor in several grim truths about the world and economics. He is great entertainment and a great fundamental economist, and I agree we are going to have a crisis and a reckoning, however, my portfolio and strategy would be different from his in at least several or additional respects.
the long game is the collapse of the US dollar. until that happens, his thesis is wrong. the thing is, his reasoning is sound. we just live in a mad world, for now.
Which of you have a faster catamaran? 🤔
@@NicolasNicLeobold he has been right about gold though he’s been telling his listeners to buy gold for a decade now and the ones who did would have made substantial money on that with almost no risk.
No, they would've underperformed even the SPX and definitely Bitcoin by like 200x. 200x!!
Happy Thanksgiving to you and your family.
Just sold my BTC and bought physical gold
Dude! You are going to be one of the very few who will say they made $$ on bitcoin! Well done. So smart!
@GoldenAgeDave When my drycleaner was talking about buying BTC I knew it was time to sell.
@@joeg2760 That's a really dumb indicator. It's great you made a profit, but when more and more people know about BTC and cryptocurrency as a whole, the more popular it gets which means the more it will be worth.
Anyone will tell you that BTC will keep going up, it's a safe investment and also something you can make money on trading, pretty easily I might add, but make no mistake that BTC will blow past 100k.
There are obviously other investments to consider. There are some great alt-coins out there too that have way more earning potential than BTC at this point.
Joe, should’ve bought physical silver instead.
@Ranger1991 The bride became paranoid of theft after 100 oz of silver in the house. We live in a nice area but anything can happen.
Thank you, Peter. Happy Thanksgiving to you and your family!
Thank you for taking time away from your family to make your podcast, keep them coming🎉
Thanks Peter for another great podcast. You are a good man posting from beautiful St Barts when you could be with your family at the beach. Appreciate it!
Looks like "Market" madness will never ever stop. It's hard to be sane and make right decisions in this market at this elevation.
Pilgrims would never buy ButCorn...😂🎉❤
Happy Thanksgiving 🦃 everyone.
I’m thankful for my wife and my best friend Grady (my Amstaff).
Pilgrims saying, "my back hurts" to get out of work is funny.
You need to have Dinner with Trump fix this mess
Trumps having dinner with communist Zuckerberg
Do you see trumps bs yet??
Thank you for doing this during the holiday week. I really look forward to your show. Would be cool if you made it more interactive in the future and took some calls.
schiff rocksssssssssssssssssssssss!!!!!!!!!!!!!!!!!!!!!!
Sold all my gold went all in on bitcoin.
Now talk about how tariffs and lower corporate income tax rate on goods produced in the US affects the US economy and middle class wages.
rich gets richer, dollar stretches less and less making the rest poorer. but trump says its the greatest economy ever! you just dont work hard enough or smart enough!
Great video Peter
It’s about the ability to produce steel and aluminum products in our country during wartime.
Going to sell my gold to add onto bitcoin position
I wrote Peter in for Vice president and Eric john phelps got president happy thanksgiving eve!!!!
Farming cooperates have worked very well. Not easy but more productive. My grandfather managed the first combine almost 100 years ago. All you need to do is keep the slimy government A- holes out.
I assume the difference is that here you split the costs collectively but keep the profits individually?
@tuomastiihonen2231 No. It worked because all members were compensated at a higher rate because fewer crops were lost.
But yeah , a better producer earned more.
At the end of the season, more was produced.
I picked up 2 1/10th oz mint condition Philharmonics Monday, at the day's low, for UNDER Spot at a local pawn shop. I guess he thought the bottom was falling out. Both checked out good in the Verifier.
I buy local as well
A lot of times it’s under spot
If they buy it cheap enough they just want to move it and make what they can incase spot keeps falling
Loved the story 👍❤️👍☘️☮️😎🙌👏🫡
Thanks, Peter. Even though my gold stocks crushed me!!!
Don’t buy gold stocks hold the real thing
Gold stocks react to the future paper contracts. Spot price is suppressed this way. And bullion banks will do whatever they can to suppress this price, dragging miners down. This is not going to change until people see failure to deliver on paper market. Until this happens miners and gold will not reach real market price. You have to be aware of this. Peter will not tell you this.
Hey Golden man thanks for sharing this with us Mazal
Happy Thanksgiving, Peter.
Trump said he is going to slam Canada 🇨🇦 with 25% tariff on all goods our dollar is 69 cents we will strave like the pilgrim’s 😢
Only if Canada puts tariffs. They can eliminate all tariffs and all will be good (only in Canada, USA is fückéd with those tariffs)
GOLD is money.
It was the native Indians that saved the pilgrims and the pilgrims repaid the natives with capitalist greed...stop with the false narrative....jive 🦃
I had no idea what thanksgiving was until your video. All I remember from grade school 40 years ago was Indians (Native Americans) and white man getting together to have a meal together. Seriously that is all I remember.
Solar powered yacht being environment friendly. Yeah, riiiight.
The same BS like EV's
Thank you Peter 🙏
Bitcoin is just like any other listed stock, can go up down or manipulated, instead physical Gold is real money for about centuries.
Enjoy your holiday Peter! Bon voyage
Happy Thanksgiving Pete! You are the greatest.
Do a podcast explaining why now is different than the 80s - because as a farmer, we are 100% followikg the 80s - the end digit year ...in 85 the dollar rallied to a record, and grain and land began to collapse, 86-88 farmland bottomed out at a 61% retraction ... considering the dollar and grain is doing, its following the 80s exactly...nothing like the 70s as you describe ..... but as a farmer we could also compare to the late 90s ... explain in depth what you think will happen
Show me the incentives and I will show you the outcome.
Nice story. Can't find any information to back up how you understand Thanksgiving. There are many versions and most of them state half of the Pilgrims died from starvation during the first winter, shortly after they landed at Plymouth Rock.
And again...Peter is right. Government produces waste and debt. Capitalism produces wealth and abundance!
Peter explained the Tariff so well and what’s great for America. President Trump really needs to listen to this one otherwise American is going to look so bad in front of the world again. 😅
Can someone forward this video to him?
Peter, your yacht builder just called me and said he's been trying to reach you through your computer but you're not picking up. May want to check in with him.
Happy Turkey day Peter. I hope the turkey is good in the Caribbean, you might have to go with the Jerk Chicken 😂
Incentivize manufacturing in America. You're right, it won't be overnight, but nothing worth having ever is.
Peter looks like Mike Love ❤️ saw the show in Niagara Falls it was the best show I’ve seen them do!
Has anyone ever told you you look like Dino Merlin? He is a legendary singer in the Balkans. You look exactly like him!
Peter, you said once: "The best two days in the life of boat owner is the day he buys it and the day he sells it", and now you buy one?
yes, this will be my second boat. I'm living in the Caribbean and love the water. Seems like a fun way to spent money.
@peterschiff if you have lots of bread burn through it , it's all an illusion
love Peter ❤
The reason the dollar isn't getting weaker with trade deficits getting larger is that the demand for dollars abroad also increases in balance. Smaller trade deficits will break the balance in dollar's favor!
It’s 140 n Canada 🇨🇦
You are the guy they think Trump is!!!
💯
You can argue Thanksgiving goes back to father Abraham, the father of many nations, who the Bible records as the first pilgrim, left Haran to go to Canaan, quote Genesis 12:1-4,
"1 ¶Now the LORD had said unto Abram, Get thee out of thy country, and from thy kindred, and from thy father's house, unto a land that I will shew thee:
2 And I will make of thee a great nation, and I will bless thee, and make thy name great; and thou shalt be a blessing:
3 And I will bless them that bless thee, and curse him that curseth thee: and in thee shall all families of the earth be blessed.
4 ¶So Abram departed, as the LORD had spoken unto him; and Lot went with him: and Abram was seventy and five years old when he departed out of Haran."
Really peter- your getting a discount on your “solar powered catamaran” No matter how much you try it just does not sound natural dude. Knock it off
I wish Peter could join DOGE!!!❤
32:36 some one keeps calling looking for their money
Bitcoin is like Pokemon cards. Some Pokemon cards are also very valuable. Do they have any intrinsic value? No....well probably more than Bitcoin
At least you can play with them
Bought my son a Pokémon card years ago. It’s more than doubled in value
Who hurt you?
Maybe you should give credit to Rush Limbaugh before you steal his stuff!
What do you mean?
@@kathya1956 This whole story is from a Rush Limbaugh book and is often read aloud on AM talk radio every Thanksgiving.
It's history ditto head.
Why? Rush didn't write the story. He's just telling it like it is am. It's a story we should all tell and a lesson we should all learn.
@@hummakavula1304 HEY the only reason this story was ever known was due to Rushes's research and labor to write the book and make it known to the world. The only story at the time was the crap you learned school! So if PETE is going to use it it then give credit where ITS DUE ditto head!
Great video.
How did they call in sick ? Pretty sure there were no phones then.. did they use smoke signals ?
"Why waste your time toiling when you wont get any more food the harder you work" you just described capitalism ahahahahahahah incredible insight.
Hey Peter, come visit us in Panama. Neighbor.
Do you think all the Canadian gold going to the USA will get the 25% tariff? $2+ billion a year.
Peter lets you and me get into a tariff fight.. we’re both gonna get bloody.. but the toughest one is gonna win.
Meanwhile if we bring any jobs back to the US it will be a plus..
Meanwhile if we bring any jobs back to the US it will be a plus..
Tariffs are a consumptive tax. A voluntary consumptive tax… just consume less… and we will win. Consuming less already personal win.
Hi Peter. My mother once heard me listening to your show and thought you were howie mandell
I have been saying this to every Trump supporter. Tariffs are a leftist solution and Trump is no that far right from Kamala they both have a left wing, I dont know how people don’t even recognize what free market and capitalism is. We need people like Schiff to educate people
trump is a socialist, he supports social programs paid with defecit spending! tell your family that tomorrow and see the reaction from "both sides" 😂
fuck yeah Peter with the Catamaran!
Peter's blaring commercials give me a headache. Kind of obnoxious, to say the least.
Buddy I got a PPP loan I’ve been hanging onto it for years I’m actually now able to start a second business and I’m gonna use that money to finance my new business in 2025.
I made 200 a week working and 550’ week on the pandemic funds
excellent story..you a smart dude :}
Spencer Schiff was right 😂
Who was the first John Galt?
Free trade is the why to go .
Nice yacht Peter. Now how do you get it from Poland to Puerto Rico?
It is most likely a blue water yacht.
South of you on Montserrat…. Would like to meet sometime.
Came to hear about tariffs. Gave up after 10 mins
influential like Jack Ma
If you say don't fight tariff with the tariff is a bit hard to do for china etc goverment wants.. Coz if there is a lay off, then the taxes you get from the people will decrease too so they need another fund to fund their goverments program maybe like a new bonds again.. And the company with their deadline and dominated $ will be hard to pay the debts.. Coz their customer don't buy or just buy few stuff coz the tariff.. So it seems that don't fight tariff with tariff is a big NO for the politicians..
I get what you're saying about charity Peter but what does a person do who has a lifelong disease that effects every part of their life? Like I know a person with IBD who had half their intestines and rectum removed, spends half the day in the bathroom in pain with all kinds of terrible surgical complications. Their family doesn't want to help out so they collect the disability insurance that they paid for while they were working. There isn't enough charity out there to support all the people in these types of situations, who have selfish family members who don't fully understand the whole situation because it's a very personal matter that people don't like to talk about.
@@Seargent_Scraps it happened to my sister poor thing now I have metabolic syndrome I can’t help her anymore but a lot of family are struggling
These things used to all be handed by charity, and then politicians decided to tax others to be charitable on our behalf. Should the person you cite, pay higher taxes to pay a government employee to give someone with the same condition whatever money is leftover? It also makes people less willing to give because they assume the government will handle it. This also assumes the government is helping those that need to be helped.
Selfish family members would be removed from the family if families were stronger. This is a lot of Boomer talk where only the symptoms are being addressed and not the causes.
Hey Pete, how come Trump hasn’t tapped you for your input? Please answer, I’ve been following you for 20 years.
because trump supports government programs with defecit spending, schiff would just tell him the hard truth that he avoids on purpose to garner votes
44:00 We've been in an official recession since 2022. Pretending to change the definition doesn't change the reality.
"a nincome tax". Lol
I wish I'd bought gold $1800 an ounce not so long ago
Just sold my physical gold and bought BTC all in I am on the train. Already up 6% within a day
6% in a day is great. I would sell and move it into GOOG.
I made $302,114.14 (+126% gain) gambling on the last GOOG earnings with OTM calls. Call me old-fashioned, but I'd rather YOLO on earnings than buy BTC.
I went against my favorite team KC and doubled my money. But in the big games , the chiefs take no prisoners. BTC is going to take more prisoners than people believe. Watch out, the dream is a mirage 😂
I was up 30% shorting mstr yesterday....total bubble recently inflated by Trump hype
Thanks Peter!
I wish I have enough bitcoin to sell so that I too, can get a solar powered catamaran
Peter hates Bitcoin and i agree but XRP is whole other animal
The Eurodollar enables non-US domiciled commercial lenders to print(lend) USD into existence without needing the Fed’s/treasury dept’s approval. How do tariffs make a real dent in forex?
Human psychology Peter the sudden cost principle it becomes impossible for him to changes as well you notice he never talks about game theory and Bit coin
Are you using AI for your own voice in your ads?
Peter misunderstanding the pilgrims, and calling them communists is a laughable take. Brother acts like the beneficiaries of capitalism today are in the fields today (and not drop shipping from Asia) compared to the reality which is the indebted serf class doing backbreaking work for their corporate overlords.💀😂
Uhhh yeah buddy, workers do not own what they produce under capitalism.
Me thinketh absolutely love the intro., says it........all!@?😉
INDEED 😮
WOW, Super Religious people from 100's of years ago didn't believe in the section of the Bible where people were ordered to work hard. Wonder how the Amish survived and continue to survive. Believe in your point but the story isn't convincing.
I don't get the rivalry between gold and bitcoin. I figure anyone with all of their eggs in one basket is someone who has never seen the inside of an egg. Perception / Sentiment is what drives human action. BTC has never experienced a collapse of perceptions. Everything does sooner or later. Some folks call it a 'bubble'...but that's just another word for mass perceptions.
Gold bugs feel threatened despite Bitcoin people and Gold people both having the same enemies. Instead of allying and working to shrink government, Gold wants to be the One and Only option.
No future as money and no intrinsic value....not complicated
@@Pangora2not threatened at all, just see through the ponzi hype
@fzr1000981 do you know what intrinsic value means? The security a block chain provides is such. Despite the out of value involved it hasn't, because it can't, be broken.
It isn't complicated, and that's why boomers need to do some research.
@@fzr1000981 Not understanding the use of something doesn't make it a ponzi scheme. How is "settling defi contracts on block chain" a ponzi scheme?
Your gonna get lost at sea
Peter, it’s better to die of hunger than from work
Said like a victim
Have fun with that👋
Depends on the work and depends on the circumstances that make you hungry in the first place.