Bitcoin & Digital Currency

I have never bought or sold a cryptocurrency. 

I obviously wish i'd bought Bitcoin. I have friends who are doing great in Bitcoin but I hasten to tell you that many cryptocurrencies have disappeared. There were hundreds of them and many of them have gone to zero. Bitcoin is not one of those obviously.

 I also want to to tell you that money is going to be on the computer. Nearly every country in the world including the United States is experimenting and studying how to put the currency on the computer.

They love it because first of all it's cheap you don't have to print the stuff, you don't have to transport it, you don't have to secure it but and more importantly it gives them complete control, governments will know everything you do.

Inflation: Will It Really Pick Up?

 

History would indicate it will because whenever governments have printed and borrowed gigantic amounts of money it has always led to inflation.

Maybe something's different this time but you and I both know it's very dangerous to say it's different this time.

Japan Has Got A Terrible Future

Japan has got a terrible future. I have written three bestsellers on Japan in the last couple of years, talking about the disaster ahead of it. But if the central bank is going to print all this money and buying exchange-traded funds, I am doing it too. But no, it does not have a good future.

Bitcoin, Gold, Digital Money

 

"I have never bought or sold any crypto."

Latest video interview with Stansberry Research. Topics:

- Bitcoin

- Tesla, Apple, Netflix and Bitcoin

- Is Bitcoin suited for wealth preservation?

- Is Bitcoin money?

- Governments may regulate, restrict Bitcoin

Asset Bubbles Are Beginning To Develop

Bubbles are beginning to develop. We do not have full-fledged bubbles yet except in bonds, bonds everywhere are a full-fledged bubble. At the moment, if I will buy countries I would buy Japan, I would buy Russia; both are still down dramatically but lots of money is going to pour into both of them because they are cheap and likewise agriculture.

Stock Market: Bubbles Are Developing

The U.S. stock market is at all time highs and bubbles are developing. Amazon goes up every day, Tencent goes up every day. Samsung goes up, every day. There are some bubbles developing in shares in many markets, not everywhere. There are many stocks in America that are not up but bubbles are developing. 

I have seen this movie before. Lots of new people coming into the market, everyboy says it is so easy to make money buying shares, they tell their friends... I have seen all of this. This is not the first time I have been to this movie.  

So, bubbles are developing in financial markets and when it breaks, like every other bubble is going to hurt very badly.

Money Is Being Flooded Into The World

There's gigantic amounts of money being flooded into the world by central banks and governments. Therefore markets are happy right now. 

This is all going to end very badly when it ends but at the moment it's great. 

If you give me trillions of dollars we will have a very good time I promise you. But of course I don't know how long the good time will last but while it lasts we're going to be really, really happy.

Gold: Weak Hands Being Shaken Out

Peter Schiff's update on the precious metals markets: 

"Gold is getting hammered. It's down $40 per ounce, trading back below $1,800. Silver is down $75 cents per ounce, back below $26. Despite extremely bullish fundamentals and news the big guys are determined to teach the little guys a lesson by shaking them out of the market." 

Gigantic Debts Are Being Built

 Right now, most politicians including in the United States say, no we should not be concerned about the budget deficit, we must be more concerned about taking care of people who are not working or companies that need help. 

That is a good argument but the debt that is being built up is going to be staggering. It is not good to be a young person now because young people are going to have a huge debt to pay off. If I were in charge I would not go spend this gigantic debt. 

Emerging Markets: Always Excited About India

I’m always excited about India.

I’m very excited to see that India is opening up agriculture.

India has needed that for decades.

Bitcoin: Ray Dalio & Elon Musk

Interesting take from Peter Schiff on Bitcoin, Ray Dalio and Elon Musk,

"If Elon Musk or Ray Dalio intended to buy Bitcoin they would not announce it to the world in advance. They clearly know the effect such an announcement would have on price. So either they already bought all the Bitcoin they want to own, or they are unlikely to actually buy any."

--Peter Schiff