🚨PETER SCHIFF Predicts #Bitcoin, #Dollar Collapse, #Gold is Going to All-Time Highs 🚨

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2018년 2월 암호화폐 약세장과 주식 하락 국면을 짚으며 비트코인 장기 전망을 부정적으로 평가한 인터뷰. 비트코인은 고점 대비 70% 가까이 하락했고 현재도 50% 넘게 낮아, 대중적 과열 끝의 전형적 천장 신호라고 진단. 대다수 투자자가 손실 상태이며 지금 매수하는 사람은 초기 투자자에게 물량을 넘겨주는 '호구 역할'이라고 주장. 비트코인은 최종적으로 0으로 수렴할 것이라고 단정하고, 실물 가치가 없어 신뢰에만 의존한다고 평가. 연준의 양적긴축과 재정적자 확대로 국채 매도 압력이 커져 결국 양적완화가 재개되고 달러가 붕괴할 것이라고 예상. 금은 달러 약세 속에서 가치를 보존할 것이며 5천~1만 달러까지 갈 수 있다고 전망하나, 2018년 내 두 배 상승 확률은 50% 미만이라고 봄. 금 기반 결제 플랫폼(Gold Money) 홍보와 금 주얼리·코인 판매 광고가 포함됨. 이는 발언자의 사업적 이해관계로, 금 가격 전망의 편향 가능성이 있음. 비트코인에 대한 부정적 견해가 주된 내용이며 한국 주식 종목은 언급되지 않음.

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01. everybody i'm jordan with blockchain daily we're here with the one and only peter schiff that money show orlando so peter now that the stock market is moving into a bear market where do you see cryptocurrency not just Bitcoin going well it seems like the stock market and the crypto currencies are moving into bear markets at the same time right I mean because you've got to both markets going down although I guess the Kryptos technically are already in bear markets because I guess the way Wall Street likes to define a bear market is a decline of 20% and so the stock market is only down about 10 percent right now so they can still call that a correction but you know all bear markets look like Corrections at the beginning right you don't know that it's a bear market until you know you're down by the 20% then it's course it's too late the crypto currency is pretty much all of them are down by more than 20 percent from their highs although obviously crypto currencies have been very volatile the entire time so it's been a long bull market since they first started and there's been many many bear markets within that within that bull market but the one that we have now I mean you had a drop of Bitcoin of 70% from the peak to the trough so far and even though we've bounced off the lows we're still down better than 50% from the highs so that's pretty significant and I think that what might be different this time than the prior bear markets is this one has happened at a time where you had massive public awareness a Bitcoin especially surrounding the launching of the Bitcoin futures you had hundreds of thousands of people opening up accounts coinbase I mean you had mass hysteria the media had you know was all Bitcoin all the time I mean that's all anybody talked about so kind of like a classic sign of it of a top and now you've had a big decline and so to me I think that the number of people that actually own Bitcoin there's probably more people that are losing money in Bitcoin than making money now of course there are people that have made huge fortunes but you know they're they're a small number compared to you know the masses who got in at 10,000 to 20,000 you know obviously they didn't you know they didn't buy millions of dollars-worth they bought hundreds of dollars worth maybe thousands of but they've seen their investment go down and that's gonna take a lot of the appeal away but we'll see I mean I think the air is coming out of both bubbles the crypto bubble the stock market bubble I think that unless the Fed comes to the rescue of the stock market the stock market is going into a bear market the way they would rescue the stock market is to back away from the rate hikes maybe actually cut rates certainly back away from quantitative tightening they I think they need to do another round of quantitative easing to buy up the the you know the enormous wave of Treasury bonds selling now that the Republicans have decided to expand government to matically and cut taxes at the same time deficits are skyrocketing to levels way above what we had during Obama during the Great Recession but back then the the Fed was monetizing the deficits now it's threatening to not only not do that but to sell the bonds that it bought while Obama was president so there's no way to absorb all of these Treasuries so the Fed would have to come out and acknowledge QE for I think that's gonna cause the dollar to crash I think that's gonna cause gold to soar the question is what will it do to the crypto currencies will the you know that caused the bubble to reflate or is goal our crypto is gonna tank along with the dollar so for the young investor who wants to start investing why should they invest in gold instead of cryptocurrency well I think gold is stable store value I think that people who buy gold you know will end up you know preserving their wealth I mean you're not you don't necessarily get rich owning gold but you don't go broke owning gold I mean that's the whole idea now I do think gold prices are very very low I expect gold to go five thousand ten thousand so certainly if you own gold you're gonna be better off than those who don't over old gold is gonna go up in value in terms of dollars but the dollar is gonna be falling in value so it's not just gold that's gonna be going up all commodities are gonna be going on I think gold would just might go up more than your typical commodity because I think it's gonna be romana ties and in fact one of the original appeals of a Bitcoin was that you could use it as a meaning of exchange instead of dollars or euros and but basically you really can't because the price is so volatile nobody can really price something in Bitcoin because you have no idea what the Bitcoin is gonna be worth you know from day to day or even hour to hour and now that more people have it the actual cost of doing a bit wrong transaction has gone up and it's it's a lot slower you can actually use gold I mean the original bit corners were like well yeah Gold is great but I can't use my goal to buy a cup of coffee well the reality is you can use your goal to buy a cup of coffee you can't use Bitcoin to buy a cup of coffee because it'll cost you more than the coffee to use your Bitcoin and no merchant is gonna price coffee in in bitcoins but you can price coffee in gold and you can use gold as means exchange because gold can you can have crypto currencies backed by gold or you can use a company like Gold money which I'm involved in I have an account at Gold money you'll notice I've got this credit card here which is actually made of gold but I can use this debit card rather and I can go buy a cup of coffee with it and when I do I'm selling my gold but what gold money also does is the merchant can price his coffee in gold right he can say here's how many grams of gold this cup of coffee is and he never has to change the price because he knows that you know there's a pretty good relationship between gold and coffee they're both commodities they have a relationship and I could just use my cellphone and I can use my app on my cell phone and I can transfer some of the gold that I own in gold money to the to the barista who's selling me the coffee and he can take I get the coffee he gets some of my gold and we've completed a transaction without using the banking system without using fiat currency we've just used gold and we've transferred some ownership you know five dollars worth of my gold is now owned by the coffee merchant and so I think that young people can find out hey we can go open up a gold money account I don't need a bank account I can get a free debit card might the gold one cost money but if you just want a plastic one they're free and you can you can conduct commerce with it you cannot you can use it as a meeting exchange you can you know so it's Nakada you're not gonna get rich quick like some of the people who bought my Bitcoin years ago you know kid in high school took his Bar Mitzvah money and bought Bitcoin now he's a millionaire right that's not gonna happen with gold but that's also not gonna happen with Bitcoin anymore that's done right the gains have been made the people that are buying now are gonna lose money right they're enabling the people who got in early to get out that's what's happening when you're buying in now you're the bag holder you're buying so the people who got in a long time ago can sell right and so so young people you know don't don't get suckered into it because you know you hear these stories of the fact that people made a lot of money they did but that doesn't mean that you're gonna make a lot of money if you buy now you're buying high they bought low although it wasn't even low because I think ultimately it's going to zero so even people that paid $10 for their Bitcoin if they still hold them when it's zero they'll end up losing 100 percent of their money do you have any intention of integrating blockchain technology with gold money well that's up to Gold money I'm I've asked him about it and they've said that the reason that they haven't launched it is they're afraid of the regulator's they think that it's you know because there's too much money laundering potential there they just don't see the the profit in it because it would be so expensive to do the compliance that there wouldn't be enough money I mean the way they're the network that they do now is good they have a profitable platform that enables this in a compliant way where they can comply with all the know your customer rules and all the anti-money laundering stuff and so you know I think that's okay but to try to do the gold back cryptocurrency could expose them but if it wasn't for the regulatory risk crypto currencies backed by gold would be phenomenal because currencies were initially issued by private banks before the government said it and they were all backed by gold that's what gave them value so you could do the same thing today you can issue a crypto currency backed by gold but what you can't do is issue a currency backed by nothing I mean that's fiat that's counterfeit that's a fraud it doesn't work right so and that that's why I done all these crypto is I think even the ones that are better than Bitcoin and there's plenty now that are better than Bitcoin I mean Bitcoin was the first but there have been a lot of improvements as far as you know then to processing speed and the cost and and stuff like that but at the end of the day they all have the same fatal flaw which is that they have no intrinsic value and that they have and so it's all a function of faith will people buy it you know people try to make the same argument they say well gold has no intrinsic value either and that's just ridiculous you know I mean gold is a commodity that has uses it has a lot of uses it's a it's a precious metal that has been a luxury good for centuries for thousands of years not just centuries but it has real practical uses in industry in medicine you know in electronics there are things that you can do with gold you don't just use it as a medium of exchange you just don't use it as money in fact the reason it became money is because it had so many other properties that made it so valuable outside of its uses money so many people needed it and wanted it and but with Bitcoin you don't have any of that I mean bitcoin is all about you know excusing it as as a method of exchange but really the value of Bitcoin or any of these crypto currencies is their value as a speculative asset people want them because they think they can sell them to somebody else at a higher price but the minute nobody thinks they could do that right when you've gone through the greatest fool then everything the price implodes right just like tulips or beanie babies or anything else so last question we'll go double in 2018 probably not I mean gold rarely doubles in a year I mean there could be a year that gold prices will double and I wouldn't say that it's impossible for the price of gold to double this year I mean it's not out of the realm of possibility but I would say the probability is not you know greater than 50% I mean I wouldn't go out there and buy call options at gold you know we're the 2500 strike price you know you're probably not going to make money on those although I mean if gold were to get to 2000 this year then you know maybe temporarily they might have some value but but it's possible I mean eventually the dollars gonna collapse and eventually the price of gold could more than double look I mean remember we had hyperinflation in Zimbabwe I mean how many multiples did gold move up per year in his Zimbabwe dollar right so you know if we had hyperinflation well yeah gold would go up but I don't expect hyperinflation to happen this year I hope never happens it is the worst case scenario but I do think we're gonna have massive inflation in the United States the way they measure it much higher than we had in 1970s in the 1970s the price of gold went from $35 on out they balance to 850 so if we have a similar move now we're at 1300 so where's it gonna go it's going a lot higher anything else you'd like dad nope anybody you want to buy some gold you know go to shift gold we sell gold coins silver coins bars and gold money calm you want to get one of those shiny gold debit cards or even just a plastic one and just go and buy 50 bucks 100 hours with a gold go to gold money so that's another way to own gold you can buy gold jewelry and the mark-up is you know you if you if you spend a thousand bucks you're gonna get 800 bucks worth of worth of gold so goal if gold goes up 25% you're ahead you can sell it you know and make a profit normally if you go out and buy gold jewelry if you spend a thousand dollars you get $200 with the gold so Gold's gonna have to go you know to 3,500 or snow 6,500 to break even right you need fivefold increase because you've paid a thousand dollars for two hundred dollars with the gold so most people are throwing their money away buying 18 karat gold and you get a tiny amount of gold with monnet you're getting almost all gold you're just paying a little premium for the design fee the fabrication but so yeah just go to their website mini-com and you can to kill two birds with one stone and clone some real money and get some nice jewelry awesome so shift gold gold money and monnet and you can listen to Peter Schiff at Peter Schiff radio on iTunes and stitcher and all right thank you Peter