Reinvent Money, Released on 10/24/24

Peter explains why gold and silver have been rallying and why, despite a small pull-back at the moment, the rally isn’t over. He is worried about US debt and the ever increasing deficits. He believes the US should default and not inflate away the debt, which is harmful for savers and will drag down the economy. He also criticizes the media for talking about bitcoin, not about gold, despite the record highs. Despite central banks buying Microstrategy, Peter still doesn’t see value in Bitcoin. Central banks are just using a model that picks shares that have gone up, like that of Microstrategy. He believes BRICS are cooking up plans to move away from the dollar. The fact that a big summit took place in Russia this week is showing that Russia is far from isolated.

0:00 Intro
1:19 Why gold and silver are rallying
4:12 BRICS and gold
5:38 Media ignores gold, not Bitcoin
9:50 Outlook on the US economy, inflation, unemployment QE is coming
13:02 US elections
15:22 Allow defaults, accept the pain
17:08 BRICS building dollar alternatives
21:24 Honest default
26:35 Central banks buying Bitcoin
29:33 Outro

Peter Schiff is an internationally recognized economist specializing in the foreign equity, currency and gold markets. Mr. Schiff made his name as President and Chief Global Strategist of Euro Pacific Capital. He frequently delivers lectures at major economic and investment conferences, and is quoted often in the print media, including the Wall Street Journal, New York Times, Barron’s, BusinessWeek, Time and Fortune. His broadcast credits include regular guest appearances on CNBC, Fox Business, CNN, MSNBC, and Fox News Channel, as well as hosting his own weekly radio show, Wall Street Unspun. He’s also the author of the bestselling books: Crash Proof 2.0, The Little Book of Bull Moves in Bear Markets:, and The Real Crash: America’s Coming Bankruptcy – How to Save Yourself and Your Country.

  bitcoin, BRICS, Crypto, gold, precious metals, silver, us dollar