Imagine the riches you would have if you discovered a way to turn lead, or dirt, or iron into pure gold. Well, people have been trying to figure out how to do this for eons. We have records of people trying to come up with formulas to turn regular old stuff into gold dating back to ancient Egypt, China and India.
In fact, a whole pseudoscience grew up around efforts to change common substances into gold known as alchemy. Well, where man has failed, Mother Nature has prevailed.
There have been numerous comparisons between Bitcoin and gold. In fact, a lot of people call Bitcoin, and cryptocurrencies in general, “digital gold.” But are the two things really comparable? How is gold different from crypto? What are the advantages and disadvantages of both?
Peter Schiff was a guest with Nicholas Merten of DataDash and they explored these issues in an in-depth interview. DataDash is a well-known platform for all things related to cryptocurrencies, data analytics & science. Merten is an excellent interviewer and ads his breadth and knowledge of the world of cryptocurrencies to the discussion. They not only talk about cryptocurrencies, they also get into economics, the stock market, Fed policy and more.
The friendly interview features a lot of give-and-take between Peter and Nicholas and will leave you with plenty to chew on and mull over.
President Trump’s top economic advisor announced his resignation this week in the midst of a budding trade war.
Gary Cohn heads the National Economic Council. He was a “free trade” guy and generally opposed to high tariff policies. Most analysts think his resignation is a sign he lost the internal White House struggle over trade policy. Trump took the opportunity to promise he will replace Cohn with somebody “great.”
Cohn’s resignation gave Peter Schiff a different idea. Maybe we should just fire all of these government economists.
Could rising interest rates pop the renewable energy bubble?
As the Federal Reserve and other central banks try to turn off the easy money spigot, we will likely see a growing number of corporate bankruptcies in the coming years. The renewable energy sector is particularly vulnerable and exemplifies broader problems in the global economy.
This article was written by Joel Bauman, SchiffGold Senior Precious Metals Specialist. Any views expressed are his own and do not necessarily reflect the views of Peter Schiff or SchiffGold.
The current debt-based fiat monetary system creates an illusion of wealth expansion.
For example look at this 100-year price chart of the Dow Jones Industrial Average.
China, Japan and some other countries have a nuclear option they could use in the pending trade war.
If deployed, it could serve as the pin that pops the stock market bubble. At the same time, it could put the US government in a nasty spot as it tries to fund its profligate spending and upward spiraling debt.
What is this nuclear option?
Silver demand for industrial applications as well as jewelry production is expected to increase in 2018, pushing overall demand higher.
The Silver Institute outlined silver market trends for 2018, along with the latest technological innovations involving the white metal in its latest issue of Silver News.
It looks like Donald Trump is launching a full-blown trade war. Not to worry though. According to the president, a trade war is “easy to win.”
When a country is losing many billions of dollars on trade with virtually every country it does business with, trade wars are good, and easy to win. Example, when we are down $100 billion with a certain country and they get cute, don’t trade anymore-we win big. It’s easy!”
Peter Schiff has a little different take. He said in his podcast last week winning a trade war isn’t so easy. In fact, America can’t do it.
In a podcast last week, Peter Schiff said rookie Federal Reserve chair Jerome Powell couldn’t be more wrong about the economy. He sees smooth sailing ahead. Peter sees a storm.
Former Reagan Office of Budget Management director David Stockman made a similar observation in a column last week.
What’s ahead is tumult, not smooth. That’s because the disconnect between a flat-lining main street economy and Wall Street’s bubble-ridden financial house of cards is blatantly unstable and unsustainable. Indeed, this fraught condition, which Powell and his Keynesian posse fail to see, will soon give rise to a thundering upheaval triggered by the Fed’s own action.”