Former Mob Boss: Stay Away From Wall Street, Choose Gold and Silver (Video)
Michael Franzese, a former mob boss who went straight following a 10-year prison term, thinks stocks are in a bubble. He says he has worked with many of the people on Wall Street and doesn’t feel comfortable letting “shady” characters handle his money. In 1986, Franzese ranked No. 8 on Fortune Magazine’s list of the 50 wealthiest and most powerful mob bosses.
Franzese says he thinks he can do better with his money than the fellas on Wall Street. Unsurprisingly, he recommends physical metals specifically because, “No matter what, it’s always going to have value. Unlike stocks, where…you go to sleep, everyone tells you everything is wonderful, you wake up and everything is gone.”
Investors don’t need to be willing to trust an ex-mob boss with their wealth in order to recognize the truth of his words. As someone who had first hand experience dealing with the casino on Wall Street, Franzese wants no part of it. He prefers to have his money in his own hands, not in the system that has proven over and over again it can’t be trusted.
Read the Full CNBC Article Here.
Follow us on Twitter to stay up-to-date on Peter Schiff’s latest thoughts: @SchiffGold
Interested in learning about the best ways to buy gold and silver?
Call 1-888-GOLD-160 and speak with a Precious Metals Specialist today!
Last week Scott Melker interviewed Peter on The Wolf of All Streets podcast. They have a friendly discussion about Bitcoin’s future, the differences between gold and crypto, and the overlap in the crypto and precious metals movements.
Peter appeared on OAN’s Real America with Dan Ball to discuss new prospective income taxes, the latest idiotic craze in politics. He starts by explaining why President Biden’s desired policy isn’t even an income tax:
Last week Peter appeared on the Futures Radio Show podcast with Anthony Crudele. In their interview, they discuss the factors affecting gold’s price, why the Fed can’t control inflation, and the viability of Bitcoin.
Peter recently appeared on Market Overtime with Oliver Renick for an interview. In their wide-ranging discussion, Peter speaks on monetary policy, the reliability of inflation data, and reasons to avoid Bitcoin.
Peter recently appeared on Fox Business to discuss Bitcoin’s recent performance. In this segment, he takes on Natalie Brunell, host of the podcast Coin Stories, in a friendly debate on the merits of crypto and precious metals.
Leave a Reply