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bitcoin collection is going to have much value you know beanie babies at least they were fuzzy cuddly and you know fluffy but bitcoin is nothing today folks with peace and love i absolutely hate peter shiv i think he's one of the worst investment advisors on the internet coming from a kid that lives in his parents basement that is not a registered financial advisor i'm just talking out of my ass whatever i say has no real meaning or weighted value i'm sure but i'm going to explain to you all the reasons i hate this guy and why you should never put your money with them why i believe he is not only a terrible place to store your value but even wealth creation in general and you're like who the hell is petership if you've been living under a rock let me zoom out and explain to you this guy that runs euro pacific capital basically he says as a division of agp alliance global partners an sec registered investment advisor broker dealer we seek to help americans prepare for changes in the global economy that could erode the value of the dollar and us dollar-based investments our stock-focused wealth management program combined with independent thinking with worldwide research to provide americans with investment options that are aligned with global trends that may be ignored by mainstream advisors please note that our sec registrations as an investment advisor does not imply any level of skill or training and hell yeah i would totally agree with that because peter ship bit of a gold bug here he'll jam gold down your throat we know he hates bitcoin his family doesn't even agree with his investment philosophies and don't worry we're gonna get to that but this guy runs mutual funds and you know being a kid in his parents basement looking for places to put money i actually listened to this guy once upon a time and thank god i stopped because if you go to the very first video i ever posted on this channel it was me selling the rest of my gold all the gold that i owned and i'm sure he wouldn't agree with it but he was also the guy that led me to buying it i'm going to come back to that crazy story in a second but let's first start with the mutual funds so he runs a half dozen mutual funds something like kevin o'leary does and i think it's just to take your money because if we look at the performance of the lifetime of this fund starting with euro pack international value fund is down 10 and with the 1.75 expense ratio you've already lost 10 over the year probably more um taking a look at euro pack international dividend income funding everyone loves dividend income oh crap down 12.5 percent for 4.5 yield you're barely breaking even after that expense ratio at one point five percent uh ep emerging markets small companies fund ooh the only fun that's doing well and it's only up 49 since pretty much 2010 with oh god i like i wouldn't touch these with a 10-foot pole let's continue on here euro pack international bond fund well we know bonds are wrecked even with no point even looking at that uh euro pack gold fund the thing he jams down everyone's throat is only up 11.8 in the last what seven or eight years oh yeah wait the expense ratio to that one point five percent say goodbye to all those cap gains and oh yeah inflation just ate away a lot of your dollar value so when you convert this mutual fund back to cash you're actually losing money you're like hey kyle you're being harsh you're being mean you're being crude here i mean why why would you say stuff like this well like i said this was the guy that after 2008 would convince you to pretty much not buy stocks be paranoid as hell the whole world is going to come falling down don't trust the us dollar and yeah i agree wealth preservation you don't want to own dollars but i'm a business guy and i came to that warren buffett conclusion that why the hell do i want to own a shiny piece of metal and i do own some of these um why do i want to own something that sits around when i could own a real business and actually look for fundamental uses of things in society and you know what happened when that pivotal moment in my brain clicked i made a ton of money i mean look at this guys in the in since the same time period of his mutual funds my accounts my largest accounts 300 132 253 returns this doesn't come from listening to this bozo i'm a kid that lives in his parents basement don't take this as financial advice hashtag don't sue me bro taking a look at his gold the stuff that he sells the most he wants to sell you certificates of gold he wants to keep it himself and sell you a bloody certificate he doesn't even really want you to own it and why would you buy a certificate through this guy look at his mutual fund fees he's just trying to make money off you selling you trash i mean look at this a 2.25 service fee applies to non-model state residents in retirement accounts three percent service fees applies to model state residents and a 50 certificate fee a 1.25 service fee applies to liquidation he's already taking your entire year's worth of gains away and if you're buying real physical gold guys it doesn't even go up enough to justify the fees look at this since 2009 how much is gold really up what 70 70 80 at the most here guys the s p 500 in the same time period up 252 bitcoin since 2015 only seven years is up fourteen thousand eight hundred and fifty bloody percent this guy doesn't have a track record that would make me comfortable putting money with them this gets really intense because his own family is getting stirred into this pot and i think it would be really uncomfortable if i ended up in this situation and i don't want to reveal too much of that craziness just yet i wanted to listen to his opinion because he's been arguing with elon musk about bitcoin and we'll just show a few highlighted clips take a listen goldbug and crypto skeptic peter schiff taunting bitcoin believer elon musk shift quoted musk who despite investing in bitcoin on behalf of tesla has said bitcoin is almost quote as bs as fiat or government issued currency shift then tweeted gold is better than bitcoin and fiat currency musk responded quote an email saying you have gold is not the same as having gold you might as well have crypto well an hour later musk caught the world's attention with this follow-up post quote that said btc bitcoin and eth ethereum do seem high you have been a real bear on bitcoin we've done we've done our podcast with you you've articulated this but you know peter it is a force right now why are you still so against what could be the next big thing as an emerging currency it's not an emerging currency you know it's it's a bubble and it's certainly gotten very large look elon musk may be a brilliant engineer and he may have more money than all of us but his understanding of money is actually flawed bitcoin is not money initially it was intended to be a digital fiat currency except it didn't really work well as a medium of exchange so they kind of reinvented it as a store of value kind of like a digital version of gold except bitcoin doesn't have any of gold's uh value as a metal and so if it doesn't have any value it can't be a store of value all bitcoin is is a digital token now you have people who are collecting bitcoin you have people who are trading it but at the end of the day when the music stops playing i don't think a bitcoin collection is going to have much value you know beanie babies at least they were fuzzy cuddly and you know fluffy but bitcoin is nothing i don't think you're going to have a lot of institutions gambling on on bitcoin so look as many of you know i don't love i don't hate bitcoin i was actually against it for the longest period of time but we're getting this new adoption stream going on i'm not going to talk about blockchain why bitcoin won the race why i believe bitcoin doesn't really have any value except for the value we place on it largely like gold and any other material that we really use in life it's really the barter here guys like how much is this thing worth on the supply and demand does this become a real currency i don't know the largest fintech companies in the world like paypal like visa are all getting into bitcoin jp morgan is allowing wallets soon i mean it doesn't make sense to me when you look at the way the world is going and you look the fact that everyone that owns bitcoin are real rich huge institutional companies on the forefront of finance i am not going to be bearish on that i just can't be so i myself have been buying bitcoin as part of my emergency fund i'm putting a very mitigated amount of capital i ain't talking like five percent of my portfolio even but if i have cash laying around it seems to be doing better here in the near i don't know what the long term is going to look like and i'm not going to argue whether this is a good or bad thing i tell you guys you can hate things you can love things you can hate gold you can hate bitcoin you can hate the stock market you can hate china i don't care what you hate the reality is you're better off owning all of them or a little percentage of the things you're not comfortable with in larger percentage of the things you are comfortable with but this guy to me is a complete and it's coming out in his family right now guys take a look at this 100 in bitcoin gold bug peter shiv's son his son goes all in on bitcoin takes a 180 like against the father stance here this is incredible incredible stuff peterson has gone all in on bitcoin my actually we can read the direct tweet because i have it on his twitter here and i don't know why like it's so controversial to post this stuff and you can tell it's controversial because it's gotten like the most like replies and like retweets and stuff but it says my son spencer shiv went all in on bitcoin in the last drop below 50k 100 of his portfolio is now in bitcoin he sold the last of his silver stock to raise the cash if my own son is this brainwashed imagine how vulnerable most kids are he's huddling to infinity or bust and i don't understand how you live in a household where your father is petersham this financial guru this guy that's responsible for you know talking about the destruction of the dollar and all this insanity and he can't even convince his own family to do like a financially intelligent investment in my opinion i would not go 100 all in bitcoin that to me is crazy but i feel like that could be coming from a stance place of listening to his father for the last 20 or 30 years of his life and he's like you know what don't care dad uh but from my personal perspective i believe in a diversified portfolio for the longevity of in the wealth preservation right like this is why gold might be important wealth preservation yeah it holds its value pretty good but you're gonna get growth i would rather own some growth stocks like i like being diversified and i think it's more appropriate to be diversified i followed his advice i bought 30 or 40 000 worth of gold once upon a time and i started this youtube channel when i decided to liquidate all of it because it is the stupidest investment ever is it a place to store value yeah if you're a billionaire you got an extra couple mill laying around you're like i need to put this somewhere safe gold maybe not a bad idea but bitcoin in the last five ten years a much better idea the reality is in this very moment bitcoin has been the greatest performing asset out of everything and hate it or love it for as long as that's the reality you can't argue it so i passed the question off to you this is a bit of a rant today on a guy that i've been seeing pop up everywhere and i don't think his influence though he does make a lot of great points doesn't equate into any actual long-term value as an investor and therefore i'm gonna make his advice null i'm not gonna listen to it i'll take it with a grain of salt i get where he's coming from but i will take in my own advice because that is equated to actual returns and again i'm not a financial advisor but in light of all this stay cool stay awesome and i'll catch you tomorrow
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