People who listen to the like of Schiff end up missing out on grand opportunities to make a lot of money.
He keeps banging the same drum regardless of the market. The problem with doing that is markets change consistently. A great investment today is bad tomorrow.
Look at the stock market, it might not be a great time to jump in. Down the road, it could be the ideal time.
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It feels like he's being paid to tweet about how untrustworthy bitcoin is and well, he himself would be missing out on the biggest revolution, he might be secretly buying BTC by the way, we can't tell, im sure he's seeing the market and he's endlessly being proven wrong.
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He is a gold bug although I am not sure it is out of ideology. He makes 6% on gold sales off his sites so he has a vested interest in promoting it.
This means any other investment opportunity like stocks, crypto, or emu eggs are blasted by Schiff.
It is buy gold (from him) and nothing else.
He said $5,000 gold in 2011...we are still a long way from there.
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$5000 for gold in 2011? hahah that is quite laughable, good is a very good store of value but then to see it have massive gains in a short run is not really synonymous with it. What is going to drive those massive gains?
Unlike crypto. We get he's a gold guy but then no one will say they're just going to be stuck with gold, 30 years ago most of the technologies we have now were impossible.
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His premise is the fiat printing will kill fiat and thus people will have nowhere to turn but to gold.
The problem is money printing is not ending up inflation like he said. Thus, gold's biggest case, as an inflation hedge is cut off.
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I don't doubt his premise but then people cant easily turn to gold before they do to crypto because gold is majorly for rich people which isn't same for crypto. He's biased in his assertions though.
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I think 2020 started to reverse that viewpoint.
Crypto, well Bitcoin, doesnt have the "stigma" is use to. There are some powerful people who started to enter the field. This will trigger more following.
Few want to be the first but once the dam is broken, we will see the floodgates open.
I think we will see some huge names entering in 2021.
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Let's keep looking at 2021 then, I think 2021 will be iconic
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