To bad they don’t have gold in Fort Knox

He has some good points, and any good investor will listen to all advise from many sources to make a decision that is best for them.

@callmeyang

3 жыл бұрын

Indeed. Although he failed to mention the real Bitcoin (XMR). Agree every other crypto is mostly nonsense ( with exceptions ).

@habbibisfamilia6258

3 жыл бұрын

@@callmeyang crypto in general in all bs its fiat currency u guys complain about how corrupt n fucked the goverment has made us but we vote these people in n other point is there running our economy on fiat so if crypto becomes the next thing history is just gona repeat itself again

I agree with Rickards, but he gives advise in terms of a "generational" time span. If you are looking for a shorter term investment, you can go broke while you are waiting.

@jaydee5447

3 жыл бұрын

Gold isn’t something you trade, it’s something you acquire and hold. Gold is insurance. I’ve never heard anyone say put all your network in gold. Gold is an insurance savings account

@rockymarcianothe3rd135

3 жыл бұрын

So true!!!

I used to follow Jim Rickards, now I think he always making his forecasts based on the worst apocalypse scenario that normally doesn’t happen.

@jakestevens7283

3 жыл бұрын

Huh? Over the years he has routinely downplayed how a currency reset is actually normal and how it has happened several times in America, as opposed to many who tell you that the sky is falling. I used to always notice how he didn't fear monger like many other people. Lol so by definition you are basically calling anyone who sees apocalyptic scenarios unfolding as being wrong...sounds like you simply reject anything that opposes normalcy bias. I don't understand how mass exoduses out of cities isn't indeed worse than anything we've seen in our lifetimes. If calling a spade a spade is apocalyptic then so be it.

@rockymarcianothe3rd135

3 жыл бұрын

No need for lengthy explanations... he has been just wrong as can be. Very disappointed with his forecasts. Just sad!

@jakestevens7283

3 жыл бұрын

I wasn't trying to say that he hasn't been horribly wrong, I was saying that he's not your typical run of the mill apocalyptic doom & gloomer

@tbowden1193

3 жыл бұрын

@@jakestevens7283 Yeah he is mate... he has been writing books for almost a decade or more, making money off of telling people the end is almost here. Go have a look at his book release history, a new book almost every single year, it's starting to sound like he is just making money off people by selling them fear. You also have to pay for his newsletters, again profiting off fear. Think about it this way, if I tell you now that an economic collapse is coming, I am going to right eventually, right? How is that different to this guy? The only difference actually is that he's been saying it for years and I've only just said it now.

@jakestevens7283

3 жыл бұрын

You must not listen to other doom & gloomers. Rickards doesn't talk about blood on the streets like a lot of others do is all I'm saying, things such as 90% of Earth's population being killed off by design by the elite. Although I do find those ultra Hell on Earth vids to be very entertaining, the more extreme the more entertaining lol. Yes I agree though that Rickard's predictions have been God awful. I think that Greg Mannarino is very good with his predictions

Wauw! Thank you Paul and Jim

Fed Chair Paul Volker taught us all the best way to increase the velocity of money. It takes time. But, if interest rates are allowed to float higher to the market appetite, over time, people will work to put money in the bank to receive interest on their savings. At a certain point, when savings are high enough, and interest rates are also high enough, suddenly consumers feel secure enough to spend some of their accumulated interest. This alone will increase the velocity of money in a productive manner. Savers are the bedrock of a good economy. Savers need to be rewarded so there are more savers. Take a look around. Savers are being strangled. Don't expect savers to contribute ANYTHING to the velocity of money under these conditions.

if depression is just reduced growth, then depressions are completely normal and expected. required really. nothing grows forever.

@bluedogfish2

3 жыл бұрын

my grandmother and grandfather grew up in the great depression........it wasnt just reduced growth maybe you would have a different view if you would have ever had the chance to have spoken to somebody that been in it

Interesting to go back to this three years later

Thank you Gentlemen

Getting his new book as i agree about many of his theories on inflation and economic collapse,not so sure he's correct on bitcoin but its not deal breaker..

Nice interview.

Paul you did a great interview. I think push back is essential. Dismissing a push back with do whatever you want is not an answer.

Today it's not about return ON capital. Today it is about return OF capital

Even a broken clock is right twice a day.

@kennethkirklin6959

3 жыл бұрын

You only have to be right one time.

@reverenddouglas2845

3 жыл бұрын

Mine's set to 4:20. It's right 24/7 😜

Not sure why he blocked you on twitter. You might think the bitcoin element. But I think you northern Europeans are a bit more direct/blunt than what Jim is used to. He is used to you just sitting back and listening to what he has to say. No dissenting views. He shouldn't have been offended. His bad.

Well that was informative... for these reasons: - Tether folks are still in violation of US regulations - Tether folks could be buying BTC and inflating the BTC price - New issuance of SDRs this year is possible. I wonder whether this coincides with Ripple legal issues. - New York losing 1 million people of a city of 8 million where the subways are increasingly not deemed to be safe. - reserve currency is not defined by currency held but rather by instruments denominated in that currency Unfortunately, there was no discussion of Ripple or Stellar which are not mined, but are capped at 100 and 50 Billion, respectively.

@MartijnWismeijer

3 жыл бұрын

Both Ripple and stellar are shitcoins. BTC is the only cryptocurrency that matters. Institutional investors invest in BTC and nothing else.

@Justbetru

3 жыл бұрын

The thing about ripple is it’s centrally controlled with an intention to decentralize it in the future. and probably considered a threat by central banks

@GTJW22409

2 жыл бұрын

@@MartijnWismeijer What a narrow minded fool you are. Please explain why El Salvador can only use bitcoin with the help of Algorand because bitcoin lightning is failing?

My opinion of Jim Rickards went up after listening to this interview. Although I still don't agree with his use of the new definition "inflation" to be based solely on velocity , (IMO.) that definition and items listed to track for measurement has been changed by Government in their effort to hide liabilities. He made a very good case for the effects of a distorted market and gold/silver as forms of real assets to limit the damage of a depression. I also agree that crypto provides no alternative to a Dollar/Debt system when things implode. I am left asking myself one question, does he really think that the total gold tonnage reported as, is really in Fort Knox to base his $10,000 figure on?

Thumb up for bringing on someone who knows Tether.

@MrVeggielee

3 жыл бұрын

Didn’t the New York settle the Tether suit, and the question about was it backed was answered as Bitfinex paid the big loan back to Tether, Is it 100% probably not, but is it mostly backed, I think they have proved that at least. Compare that with the Gold ETF and Tether looks like a saint.. If everyone withdrew their gold from GLD, there is no chance it would be there.... Sorry Jim... you need to do more research on crypto.... Gold is just a metal and there is a lot of it still in the ground...

@Justbetru

3 жыл бұрын

@@MrVeggielee nah mate, Tether is ridiculously under backed they’ve been printing it like the feds been printing dollars.

BTC, ADA, ETH, corn, rhodium, Tesla those were the knock-out trades of the past couple of years

Have never seen Rickards so happy. This man loves negativity lol but I really appreciate his cold hard takes

We have the same familiar faces talking about things that would and should happen under free market economies. That’s why what he says is correct. Reality proves him wrong because we do not have a free market. It’s a managed and manipulated market and the only ppl who know how to preserve wealth are central bankers with a thumb on the scale.

@GTJW22409

2 жыл бұрын

Exactly, they manipulate people like him because they know this is the line of thinking any sound investor will use. You have to use more than logic in this economy. You have to follow the narratives and geopolitical issues all around the world and then try to think 10 years ahead. After all that you also need be lucky enough to have picked the right companies that were chosen to save the markets, as there will companies competing to provide solutions. And that BARELY scratches the surface. So the take away First secure food, water and shelter in case of a collapse. Get out of debt. Plan on losing your job, and a plan b if that happens. Be impartial and research both sides of each narrative. Research solutions for the problems, and research the companies and who backs them even deeper. Diversify incase you are wrong and only invest what you can. And I'll leave you with one final statement. In the great depression banks froze everyones bank account and would not let you take out more than 5% of your total cash balance. After 2008 a law was passed where banks are allowed to use YOUR money to do a self bailout in an emergency.

Did he say that Feds (arbitrarily) should set the price of gold (to $5000)?! That is NOT the way to “change expectations”. Besides, why would the Feds commit harakiri?

Dream on!

IF YOU READ THE BOOK YOU SHOULD UNDERSTAND THAT THERES NO SUCH THING AS G"GOING BACK TO NORMAL"

SWEDEN HAD NO LOCK DONE AT ALL

@michaelreilly3100

3 жыл бұрын

Just went to Florida, it was open, nice time of the year too

@magda5820

3 жыл бұрын

ONE SMART COUNTRY

Amazing international network of experts, wow

Did I miss the part were Jim said how to invest or was the title just clickbait?

@magda5820

3 жыл бұрын

NO WORD ON THAT. THO JIM DID SAY ITS BEST TO OWN GOLD

Years ago you used to see old guys wearing sandwich boards with the words "Repent for the end of the world is nigh" Now we have Rickards, Schiff and others making videos like this.

@frederickmuhlbauer9477

3 жыл бұрын

Stay in denial if that helps bro

I didn't know we were in a depression 3 years ago? That's news to me!

Jim, it seems your SDR prediction for this year is spot on. $650b being floated around in various news articles.

The issue with the theory of velocity is that the velocity is meaningless when it is artificial, or with meaningless money (like much of the economy now). Do we boost the economy when we exchange a briefcase of $10M back and forth all day? or a few billion $$ digitally 100x per second?

@ratedrsuperstarthega

3 жыл бұрын

You have a nice point. Got me thinking. Any answers?

@Justbetru

3 жыл бұрын

@@ratedrsuperstarthega no that doesn’t do much other than provide liquidity and the opportunity for quantum computer algorithms to manipulate the market.

I can see why he dismisses crypto as nonsense, because it has a shitty signal to noise ratio. But ethereum does provide a sort of "bitcoin bond market" with some of these stablecoin smart contracts. The only problem is the technology is questionable. But they do reap a much higher yield in return for the risks you're taking. Economists should take it seriously as a laboratory for economic experimentation.

Thank you. Just would have loved to hear his thoughts on the Great Reset, Klaus Schwab, the 4th industrial revolution and “build back better” Maybe next time? ;-)

Good interview Paul. I’m less and less inclined to follow Rickards though. His view doesn’t evolve. We get the same talking points from his interviews a year or two ago.

@PaulBuitink

3 жыл бұрын

He blocked me after the interview...

Was the velocity of money in Weimar Germany doubling ever 24 hours or was the supply of currency and credit doubling 24 hours Jim?

@painlord2k

3 жыл бұрын

Both, probably. People didn't trust the currency and they got rid of it as soon as they received it. He is right that just printing money and getting it sit in the accounts and never be used will not increase the general level of prices. But if it starts to get in circulation then the general level of prices will start to go up. Maybe not for everything immediately, just for the things the new money is initially used for.

@elliotmartin6952

3 жыл бұрын

@@painlord2k the velocity certainly increased but it wasn't consistently doubling every 24hrs. It reached a limit. I agree with jim that you need to have velocity to see the effect on prices but to say that it is more reliant on velocity is nonsense.

@painlord2k

3 жыл бұрын

@@elliotmartin6952 It depends on the demand and supply of currency. If you kills demand the prices increases just because you need to offer an insane quantity of currency to get what you want. E.G. In Argentina they got a crisis and a spike in prices when they corralled the bank accounts and forcefully converted the USD accounts balances in pesos. The actual supply of pesos went down (IIRC around 30%). The problem was the demand for pesos went down "More. Much more" (cit.) and nearly no one wanted them as their utility was severely reduced by the government. In this case, velocity is "nearly infinite" because the first thing people think when getting paid is how to get rid of the currency in exchange for anything useful. Technically, the "demand to hold" is virtually zero.

I suggest listening to 08:00

I love listening to JR! He sure knows his history. He keeps saying our money is going away. We can’t hold cash and the market is going to crash! My question is where do we put our savings??? I’m the type who wants to cover my tail at all costs. Is gold the only way??

Jim is the Dinosaur of the old financial regime. Btc is eating golds lunch

24:10 "crypto is nonsense" 25:22 "in 2017 it went up to 20k and then it crashed... now it could go up to 100k and then it'll crash..." hmmm, sounds like a decent investment to me...

Cardano ADA 🚀

I'm just buying more BARRICK GOLD 🥇

@pkl8811

3 жыл бұрын

@@GiovanniGeorgio69 Barrick seems to me to be the best gold miner especially with their great CEO announcing a special dividend.

@pkl8811

3 жыл бұрын

@@GiovanniGeorgio69 but do you feel like Barrick is a high risk? I think of Barrick as a blue chip stock

@pkl8811

3 жыл бұрын

@@GiovanniGeorgio69 got you. What do you think of Fortuna Silver Mines... Sort of a junior but great potential with their first gold mine in Argentina and a solid balance sheet.

@pkl8811

3 жыл бұрын

@@GiovanniGeorgio69 have a look at FSM.

Paul Buitink, je bent echt een aparte gozer. Je hebt het privilege om zo een grote denker te mogen spreken en dan ga je hem op zo een onbeschofte manier aanspreken. Waarom doe je dat niet bij Willem Middelkoop of Madelon Vos? Die niet eens een fractie van de kennis hebben van Jim Rickards

@robikanobi

3 жыл бұрын

Niet onbeschoft, groot gelijk heeft ie, ouder wil niet zeggen wijzer en goud kan zeker onder doen voor Bitcoin. heeft tot nu toe wel gebleken.

@PaulBuitink

3 жыл бұрын

Ben ik niet met je eens. Waar was ik dan onbeschoft? Ik stop veel tijd in zo'n interview, vervolgens negeert hij al mijn berichten en blockt hij mij. Dat is eerder onbeschoft. Gezien de vele positieve reacties op Twitter lijkt de meerderheid het met me eens te zijn twitter.com/paulbuitink/status/1363866593034448900?s=20

@waarheidmatters8993

3 жыл бұрын

@@robikanobi Ik spreek niet over leeftijd maar over zijn staat van dienst.

@robikanobi

3 жыл бұрын

@@waarheidmatters8993 resultaten uit het verleden bieden geen garantie voor de toekomst.

@waarheidmatters8993

3 жыл бұрын

@@PaulBuitink Je zegt met een rare glimlach: "oh … prijs is wel heel erg bullish". "Er zijn nog maar paar maanden over, om jou voorspelling uit te laten komen." Dan spreek je hem aan op zijn goud forecast. Terwijl goud bijna verdubbeld is de afgelopen jaren en dan ga jij crypto’s (digitale fraude tokens) gebruiken om hem in diskrediet te brengen. En dan wil je nu het argument geven dat de meerderheid van jouw twitter volgers het met je eens is? Alsjeblieft Paul wees rechtlijnig. Ik wil je volgende keer ook Willem Middelkoop zien aanpakken op al zijn voorspellingen die nooit zijn uitgekomen.

Let the Silver go

What are all those M1/2's?

@Justbetru

3 жыл бұрын

Who knows the fed officially stopped reporting it last week

Try giving a zero tax rate for manufacturing in the USA, instead of manufacturing in other countries! Trump started it, USMCA, replacing NAFTA. Now 80% of parts used in vehicles assembled in Mexico must be manufactured in the USA! Both countries win!

What about etf's?

When will my Silver be Worth 300.00 an Oz ? I would Sell a Third of it Maybe , If I has to , The thing is will it Stay at 300.00 an Oz ? and continue to rise ? Should I buy Sports Cards and Comic Books ? idk :\ QC

@magda5820

3 жыл бұрын

LOL

Because wages have been so low that people have to go into debt, the Fed can never use gold if other prices rise also. Many people would not survive.

@paulozimek276

6 ай бұрын

Not only that, but they've moved a lot of work overseas .

Assets measured in bitcoins will suffer hyperdeflation as adoption increases.. think about that for a second.

@wyzebull

3 жыл бұрын

Thats why theres a crypto asset to settle transactions instantly between two different institutions and their respective currencies. Don't think of crypto as a replacement. it's a complimentary piece of a revamped financial system. Bitcoin might have a place in the future but it wont be the biggest blockchain its actually the most inefficient right now. But the digital asset space deserves some research because certain ones will change the world and soon

@frederickmuhlbauer9477

3 жыл бұрын

Do you really believe that nonsense

When do you expect governments to start nationalizing private property?

Depression is when 10 plus million are not working for 2 quarters. Its a personal depression is when you are not working and no jobs are on the horizon.... Unity is achieved, we all broke and reliant ....

My Asset Allocation 30% Gold, 30% Silver 30% Crypto and 10% Cash.. I am gold bug and Crypto guy too.. Diversification is important.

@MrRoelsnip

3 жыл бұрын

have fun with that

The truth is we are in uncharted waters, the past can only give us a glimps. Food, gun-ammo, water, seeds, hard work and unwavering trust in God.

This guy's just Peter schiff with a different demeanor. Ultra defensive once it comes to questioning his gold px predictions.

@P37RU5

3 жыл бұрын

Both Jim Rickards and Peter Schiff are billionaires, they can say anything and people will worship them

@anistar002

3 жыл бұрын

@@P37RU5 billionaires, really? My lord!!!

@frederickmuhlbauer9477

3 жыл бұрын

@@P37RU5 But you can’t say that they aren’t correct Just bad timing

@JimMoorby

3 жыл бұрын

Peter Schiff is bang on.

@P37RU5

3 жыл бұрын

One thing that people forget is that in the year 2000 the price of gold was $250, that is 600% gain in the century! This is a very strong return for a low risk asset. Don't forget that Gold currently is not even near all time high and it is currently undervalue. Gold has again proven to be an excellent store of value, even if the media says otherwise. People are really concerned about short term movements and can not see the bigger picture 😉

Wait a sec . He didn’t even cover how to protect yourself during this

The 34,000-ton central bank gold figure assumes 1,986 tons for China which is a ridiculously low figure.

@laupeter4594

2 жыл бұрын

China will come out on top cos the west are simple minded fools

Recently i made huge profits on my investment since i started trading with mrs hanna gomez, her trading strategies are top notch coupled with the little commission she charges on her trade

@RebeccaLynn788

3 жыл бұрын

Honestly its wonderful to see others trading with mrs hanna gomez, i am currently trading with her and am in my 6th trade, my portfolio has increased amazingly and am make huge profits

@Troymatthew525

3 жыл бұрын

I've always heard about mrs hanna and how amazing she is in the trading world several times but I honestly don't know how to reach or communicate her

@Harold560

3 жыл бұрын

Trading with hanna gomez has been life changing, her ways of trading is quite fair and considerate based on the fact that she charges 20% commission on profits made after every trading session

@zdenekmarek1000

3 жыл бұрын

@@Troymatthew525 You can communicate her through teIegram using her username

@zdenekmarek1000

3 жыл бұрын

@@Troymatthew525 @Investwithhanna she is very reliable

Lost me when he said graffities everywhere..

@craigb3154

3 жыл бұрын

I guess that depends where you live.

@frederickmuhlbauer9477

3 жыл бұрын

They are everywhere Litter too Lots of it

In Australia we locked down. Total deaths just over 1000. The only cases we get are in hotel lockdown from os returning. The economy is recovering with good public health. I think he is wrong.

23:56 to 24:55 is what caused Paul to be blocked imo. Jim is clearly irritated here, but its not unfair points that Jim has been predicting $10,000 Gold for what seems like FOREVER..... but in the decade 2011 to 2021 Gold has went DOWN, when Crypto has been x100. Suck it up Jim!

This aged like Milk.🥛 Used to love Jim, but now I see he's just trying to sell books. All that fear porn didn't help me one bit in life.

Rickards blocked you after interview? I thought he was wiser man

@Justbetru

3 жыл бұрын

That is poor form

FED QE Since Baby Bush Great Recession !!!

Coming here on the back of Jim's blocking Paul on Twitter... Seems odd he'd do that. You didn't even push him that hard. He's probably not used to the Dutch way of direct communication

Jim at least you let others with different points of view comment not like martin Armstrong .who was a super hero .10 years ago know dont at all

I dont think dollar can be saved. 5 or 10K gold mean that I wanna get out of the dollar asap. So current monetary system will die either by deflation or inflation or l by loss of belief.

@Justbetru

3 жыл бұрын

Who knows what it will be reevaluated at but it’s coming! Basel III regulations and reevaluation is scheduled to happen in June. With Basel III implementation gold will become a tier one asset to be traded between nations at the same level as bonds.

@jackasable12

3 жыл бұрын

@@Justbetru Are you sure its going to happen in June ? Can you send me some more info...?

And their bring in twenty million people

@randycarstens1100

3 жыл бұрын

Meat for cannibals!

new yorks population is not only 8 million. please don't make careless statements like these because people could share information based on a "reputable" source like you ( the guest ) and end up being embarrassed after someone corrects them saying the population ( u.s. census bureau ) is 19 million. im just saying be careful with what you say because these things are on the internet forever and it is also spread regularly so any false information gets expounded exponentialy.

„Crypto is nonsense.“ ….thats when i knew that this guy is very wise and experienced, but is not capable of the imagination you need to imagine the future changes that can come in future.

Came with an opened mind but this man mixes real data with anecdotal emotional takes its hard to not smell his political leanings in his data selection samples. He's not totally wrong but I wish he would just stick to the data as is and let's see if he's right in the next few years

"crypto is nonsense" - jim r.

@kirkmccosker2430

3 жыл бұрын

@@Keep_calm_and_slave_on If you don't like gambling, stay out of finance. Gold is not very appealing because there is no action. Peter Schiff is the only money manager that's lost money over the last decade.

@kirkmccosker2430

3 жыл бұрын

From the outside looking in, it certainly is. Think about all the crypto pests, shilling all their stupid little flash in the pan shitcoins, with convoluted premises and multi billion dollar market caps. I'm still bullish as fuck, but it's hard to take seriously, when there's such blatant mania around it.

@frederickmuhlbauer9477

3 жыл бұрын

@@kirkmccosker2430 you lost me with your vulgarity bro

@kirkmccosker2430

3 жыл бұрын

@@frederickmuhlbauer9477 filtered

@SamehLabib

3 жыл бұрын

@@frederickmuhlbauer9477 Cancel culture?

Really like jim... but I have not benefited financially. Be careful newbies this can cost you big time.

Surly Jim! He's not a fan of crypto apparently

Paul is a nice kid, I guess grandpa Jim did not like his aggressive talk back at 23:55, his ego seemed to have hurt, judging by his face expression in the video.

@frederickmuhlbauer9477

3 жыл бұрын

What’s up with the age discrimination here You will be old one day too ya know

@SamehLabib

3 жыл бұрын

@@frederickmuhlbauer9477 I thinkanistar002 meant to say boomer instead of grandpa. People who have grown up in the 50s think they should be the only ones to talk and everyone else should listen. They think they are always correct and know better.

@frederickmuhlbauer9477

3 жыл бұрын

@@SamehLabib With age comes wisdom so I wouldn’t be so quick to dismiss their knowledge Of course older people aren’t always right

@SamehLabib

3 жыл бұрын

@@frederickmuhlbauer9477 I'm fifty two years old. I have nothing against old people. I do have something against the generation which were teanagers in the 1950's. They grew up in a time which was technologically simpler and good paying jobs were plentiful. The problem with them is that they see new technologies or new genres of music as fads. The ones I know are ashamed to admit R&R music can be good and act like anything which challenges the status-quo is a fad which is likely to fail.

Since 2008 Rickards is telling us that we are in a depression. In 10 years he will still do so.

@frederickmuhlbauer9477

3 жыл бұрын

That’s because we HAVE been in one

@six-star-hotels5698

3 жыл бұрын

@@frederickmuhlbauer9477 Yes, yes, of course! The end is here! Great depression forever...

@frederickmuhlbauer9477

3 жыл бұрын

@@six-star-hotels5698 In the states we can probably look forward to some very bad times Could be decades or generational Don’t underestimate the severity of this debt Or do so at your own peril bro

gold $5,000 ounce, jokester. with trillions of debt gold would need to be a tiny bit higher. I love how he hates silver.

@Justbetru

3 жыл бұрын

He still seems like he is tied to the government. He used to either work for or be associated with the CIA. So there is very accurate information in what he puts out but also information to lead you in a certain direction. Look at this over here! And it is true but it’s a distraction to keep from seeing something else.

On one behalf I understand why he was challenged, if one has followed jim for past 10 years , you would have not been as successful as one with a full diversity plan in your portfolio- get bonds , real estate , crypto , and stocks .. frankly

Bahahahaha yeah man let’s hope things aren’t as bad.....as they are . The hope strategy right

If you need someone to tell you how to invest, keep your money in the bank.

@irisiliescu5776

3 жыл бұрын

Not in Bank....îți will start ICE 9!!!

There appears to be only one truth and that is the truth of Jim Rickards Cosy interview.

Listening to Boomers talk about Bitcoin is pointless.

@bluedogfish2

3 жыл бұрын

right

@schrodingerscat3912

3 жыл бұрын

people say it has no value. while it's currently trading around $50,000. when is Bitcoin going to $0? After it hits $1,000,000? I'm not buying the idea that Bitcoin is worthless

@bcshu2

3 жыл бұрын

No, you’ll happy listen to Bitcoin supporters that are boomers

he has been so wrong regarding gold and silver. he was claiming 50K price for gold. i wouldnt take advice from this clown

@JiibarO

3 жыл бұрын

I've seen some of his interviews, and what he means by $50K gold is, for it to reach that price we got to have hyperinflation. He said something about "not wanting to live in this world if gold reaches $50K" but I don't remember which interview was. And not only him, other economists say the same thing. So for us to reach that level, the Dollar has to be destroyed by hyperinflation. But, I do prefer listening to Peter Schiff. He's much more concise and a bit more realistic, imo. He's also more spot on with his predictions just because he really knows his thing. GOD bless🙏🏼

@jamesdean7756

3 жыл бұрын

@@JiibarO your kidding right. There has been no one on KZread more wrong than Peter Schiff has cost his followers billions in missed opportunities you must be one of his zombies his bitcoin calls are atrocious and his one to one Dow Jones to gold ratio LOL over 10 years ago

@redrum3075

3 жыл бұрын

yet u are buying fake BTC, unbacked...right boy ?

@JiibarO

3 жыл бұрын

@@jamesdean7756 well you can buy Bitcoin you and make some money know cause after everything comes down, Bitcoin is gonna be used to play at Chuck E. Cheese.

@jamesdean7756

3 жыл бұрын

@@redrum3075 unbacked. That’s funny. Everything is unbacked

Jim is the type of guy to look at Apple in 1993 and say “this is cute but IBM will pave the way” Crypto vs Precious Metals. Cryptos are tech like ADA, VeChain, Etc. Real technology. Bitcoin is a garbage dump that people talk about. Real practicals cryptos are things that improve the quality of life. ADA is a heavily decentralized blockchain that can be used for voting, money transfers, internet 3.0, high security against quantum computer, etc. Bitcoin is the store value for cryptos. All the crypto talk is unrelated to gold. Because gold and precious metals are the reserve currency for when we get hit by an EMP or a solar flare and all the cryptos are useless. Just my ¢2

South Dakota had one of highest per capita death rates in the world. It’s a multivariable problem and lock down is but one of the components

But people are getting inflationary stimulus checks and fraudulent PPP loans forgiven every day. Americans never been that week minded before.

Gold will not do any thing. Government discourage gold. They want digital currency. Buy equities when they crash. Buy gold when low. Pay your taxes to buy gold and equities.

@RebeccaLynn788

3 жыл бұрын

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@RebeccaLynn788

3 жыл бұрын

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@RebeccaLynn788

3 жыл бұрын

@Investwithhanna she is very reliable

It’s always a good question. What’s money? Good question. Why another depression book. Good question. Why do you always say it’s the end of the world and to buy gold. Good question.

Velocity is not inflation. Currency creation is not inflation. The combination of both is inflation.

@justinbernardo8240

3 жыл бұрын

currency creation is inflation. You are inflating the money supply with more money out of thin air, that is literally called inflation. If you pump up a balloon with air what are you doing, inflating it right? Okay lets say you pump up the balloon half way, and now u stop and you pump it up again with even more air. What is the definition of that? You are inflating the balloon with more air. The combination of both what you just said is hyper inflation. Money velocity+currency creation at the same time leads to hyper inflation

@granden2077

3 жыл бұрын

@@justinbernardo8240 Yes. You are reciting old definitions. I understand. Schiff has the same definition of inflation. Richards another. Dent another. Gammon another. Aldrin another. Currency creation and Velocity can be inflation or hyperinflation. Both are needed. Price is a consequence of infllation which is used to define inflation now.

@justinbernardo8240

3 жыл бұрын

@@granden2077 so they change the definition of herd immunity, now they change the definition of inflation too? OML...

@granden2077

3 жыл бұрын

@@justinbernardo8240 It is crazy. If they don't like the answer, redefine the words. Comex changes rules. It is everywhere. They change how CPI is measured too. Measured in 1970's method, we are at 10%.

@justinbernardo8240

3 жыл бұрын

@@granden2077 everything is twisted. Now their saying do not trust your own immune system. Take our vaccines wich are "very safe" for you! Ignore the dead bodies!

Jim is brilliant but he does get a little bit petulant when he's losing an argument. He's wrong about Bitcoin but he is right about so very many other things!

@xaviersoto3978

3 жыл бұрын

We won't know who is right just yet. Wait 5,10, maybe 20 years for now. I think that bitcoin will crash

@ThomasG-og4yb

3 жыл бұрын

@@xaviersoto3978 You may be right, Bitcoin will have some extremely powerful enemies in time, and all it will take is any nation state and some quantum computers, and they could crash the whole thing. Hopefully there will be a Bitcoin 2.0 that will be quantum computer proof, but the current iteration is not.

@xaviersoto3978

3 жыл бұрын

@@ThomasG-og4yb plus bitcoin is the first crypto to gain momentum like it has. The problem is, nothing that was ever created first the best form of that specific thing. It’ll be interesting!

@richardfrench2863

3 жыл бұрын

Ok, go back 5-10 years What did Jim predict for gold? the stock market? the dollar?

Jim is a No-coiner 🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣👍👍👍👍

Cant teach an old dog new tricks, he obviously hasn’t done more than an hour of research on bitcoin

9:30 - Lockdown doenst help... seriously?! Check data for Portugal in 2021 , you right about the economical consequences though.

@justinbernardo8240

3 жыл бұрын

if lockdowns helped than why am i still in lockdown after a year of lockdowns.

can someone tell this what bitcoin means or eth or defi, the interviwere seems to have to knowledge about blockchain, pity

@Dumperdriver1

3 жыл бұрын

You will learn young grasshopper Orange pill

If you want financial ruin just take the advice of financial commentators who are incredibly wise in hindsight but who really have zero idea about what the future holds.

He thinks the US dollar is invincible lol , you dont need bonds for bitcoin because there is no central authority that’s the innovation

Buy??? 😅😂

Jimmy was wrong then. As he is now

Jim is making money by selling his books not from investment. Those who have followed his advice must have lost a lot of chances to make money but he have become richer and richer thanks to them.

@jipmeijer6653

3 жыл бұрын

Like Levi Straus

He does not answer the question because he doesn't know.

@frederickmuhlbauer9477

3 жыл бұрын

Nobody knows what Bitcoin is

He needs to learn about what xRP is and what the xRP ledger can do . Then research the new flare network