Actually it'd be alcohol and cigarettes over pot. More smokers in the usa than stoners 
Not any more I think. But I would definitely add brass and lead to the list of worst-case currencies.
Topic: US economy expected to crash, time to buy bitcoin - page 2. (Read 3669 times)
Not any more I think. But I would definitely add brass and lead to the list of worst-case currencies.
Just because someone is an author and a CEO does NOT mean he knows what he is talking about. They have been expecting inflation to go through the roof ever since QE started. The US inflation is around 2.5% annual and shows no sign of going up any time soon. Peter Schiff may be a smart guy but he is clearly wrong. Yes, the US economy will hit a rough patch here and there. Economy goes through cycles, up and down, repeat, rinse and cycle again. So, I guess he will be right half the time, like anyone else.
Inflation is here : increase of the money supply, stock market and it is exported
Peter Schiff predicted the dotcom bubble in 2000 and the real estate bubble, he was one of the only one; he was very precise and his predictions were correct
He is not predicting a crisis, he is saying the crisis never ended and the gov/FED didn't let the crisis to happen which would have been better than what we will face
Do you think the FED can print without any negative consequences or unwind QE without any negative consequences?
Do you think the gov liabilities are sustainable??
Quote
http://signup.moneymorning.com/X304Q318
But in reality the United States is at the brink of a devastating economic crash that will cause catastrophic market losses and impoverish millions.
That's according to Peter Schiff....
...
But in reality the United States is at the brink of a devastating economic crash that will cause catastrophic market losses and impoverish millions.
That's according to Peter Schiff....
...
I very much respect Peter Schiff, but I think he underestimates the power of the government to spin markets. They will do *anything* to prevent a crash. That may include "socializing" the economy step by step, turning it into a pure command economy in the course of the next 10 years or so. Eventually, the West will go the way of Argentina and Venezuela, but this will take a while. The US still has the war machine to prevent anyone from undermining the USD.
To illustrate that, here is a Bloomberg quote about the easing of sanctions against Iran as a response to their agreement to stop developing nukes:
Quote
Some curbs on gold trading also will be removed. While Iran will be allowed to buy and sell precious metals, including gold, it will be barred from accepting them as payment for oil or any other sanctioned transaction, according to the officials.
http://www.bloomberg.com/news/2013-11-24/iran-agrees-to-historic-deal-with-powers-to-rein-in-nuclear-work.html
http://www.bloomberg.com/news/2013-11-24/iran-agrees-to-historic-deal-with-powers-to-rein-in-nuclear-work.html
Obviously the fuss about Iranian nukes was mostly about that: Iran cannot trade oil for gold. They must trade it for USD like everyone else. Or else.
We even have to assume that the US will eventually lash out against China and even Russia with nukes when things get ugly and they lose their Dollar empire.
He is saying that
Actually it'd be alcohol and cigarettes over pot. More smokers in the usa than stoners
When I was in the jungle of Bolivia, the only two currencies were alcohol and coca leaves. But I'm guessing that since we don't have coca leaves here in America, then the two currencies (in the event of an economic meltdown) would be alcohol and pot. I should start stocking up now.
US economy goes down then it will take all other countries economy down too. Then we can go back to killing each other over food.
Newbies reading threads like this, please do not get sucked into the hype. This is currently a very expensive game and you will have the chips stacked against you. Do your due diligence, so you don't look silly starting threads like this in the future which you will be forced to do once you get sucked in. The $ is the ultimate end goal for all these salesmen. Be VERY VERY careful.
Some of us 'newbies' are not in for the speculation. It is only if you do not truly understand what Bitcoin is, that you might tempted to think it's nothing but a game, a scam or a ponzi whatever however you want to call it. Bitcoin CAN be used to speculate, to scam or for a ponzi scheme, just like paper fiat money. You don't warn people not to get into the 'hype' that is fiat do you?
This is going to be fun. OK help me TRULY understand Bitcoin. Sell it to me.
By the way how much did you pay for it(just curious), but you don't have to divulge this part. I understand.
First and foremost, what is your current understanding of bitcoin and how technically proficient are you? I recently explained bitcoin to my 82 year old grandmother using the email analogy and she immediately gets it, "you know, like how we were exchanging letters before and now we're exchanging emails?". Not only she gets it, but she can even see how any newfangled thing can be speculated, it's just human greed, and like any good responsible grandmother, told me to "not speculate and better save up on those bitcoins". So to me Bitcoin is never a gamble and I'm not in it to profit, well, not in the way of speculating at least, but a transition to cryptocurrency which, like it or not, is here to stay. Plus I never paid a single cent directly to acquire my bitcoins.
Just keep in perspective what each site is selling.
Schiff is selling gold.
Bloomberg, Business Insider, Motley Fool, etc. are selling stocks and funds.
Most of the other media is selling socialism.
Schiff is selling gold.
Bloomberg, Business Insider, Motley Fool, etc. are selling stocks and funds.
Most of the other media is selling socialism.
Quote
http://signup.moneymorning.com/X304Q318
But in reality the United States is at the brink of a devastating economic crash that will cause catastrophic market losses and impoverish millions.
That's according to Peter Schiff....
...
But in reality the United States is at the brink of a devastating economic crash that will cause catastrophic market losses and impoverish millions.
That's according to Peter Schiff....
...
I very much respect Peter Schiff, but I think he underestimates the power of the government to spin markets. They will do *anything* to prevent a crash. That may include "socializing" the economy step by step, turning it into a pure command economy in the course of the next 10 years or so. Eventually, the West will go the way of Argentina and Venezuela, but this will take a while. The US still has the war machine to prevent anyone from undermining the USD.
To illustrate that, here is a Bloomberg quote about the easing of sanctions against Iran as a response to their agreement to stop developing nukes:
Quote
Some curbs on gold trading also will be removed. While Iran will be allowed to buy and sell precious metals, including gold, it will be barred from accepting them as payment for oil or any other sanctioned transaction, according to the officials.
http://www.bloomberg.com/news/2013-11-24/iran-agrees-to-historic-deal-with-powers-to-rein-in-nuclear-work.html
http://www.bloomberg.com/news/2013-11-24/iran-agrees-to-historic-deal-with-powers-to-rein-in-nuclear-work.html
Obviously the fuss about Iranian nukes was mostly about that: Iran cannot trade oil for gold. They must trade it for USD like everyone else. Or else.
We even have to assume that the US will eventually lash out against China and even Russia with nukes when things get ugly and they lose their Dollar empire.
Bitcoin is a speculative investment, and most speculative investments get dumped during major economic crashes. Since bitcoin is so young and hasn't been around any major financial crash (09-13 was a global bull market) it has given some the delusion that it is economic crash resistant, but it likely isn't.
So you think when the dollar loses it's status as reserve currency and nations everywhere are dumping them, this will be a signal for everyone holding Bitcoin to flee into USD?
Governments are also there by consent of the people.
Sure these usurpers are there by consent of some people. Sure as hell not my consent. They are where they are mostly because people don't care enough to send usurpers where they belong. How do you express dissent in a so called "modern democracy"?
Newbies reading threads like this, please do not get sucked into the hype. This is currently a very expensive game and you will have the chips stacked against you. Do your due diligence, so you don't look silly starting threads like this in the future which you will be forced to do once you get sucked in. The $ is the ultimate end goal for all these salesmen. Be VERY VERY careful.
Some of us 'newbies' are not in for the speculation. It is only if you do not truly understand what Bitcoin is, that you might tempted to think it's nothing but a game, a scam or a ponzi whatever however you want to call it. Bitcoin CAN be used to speculate, to scam or for a ponzi scheme, just like paper fiat money. You don't warn people not to get into the 'hype' that is fiat do you?
This is going to be fun. OK help me TRULY understand Bitcoin. Sell it to me.
By the way how much did you pay for it(just curious), but you don't have to divulge this part. I understand.
Just because someone is an author and a CEO does NOT mean he knows what he is talking about. They have been expecting inflation to go through the roof ever since QE started. The US inflation is around 2.5% annual and shows no sign of going up any time soon. Peter Schiff may be a smart guy but he is clearly wrong. Yes, the US economy will hit a rough patch here and there. Economy goes through cycles, up and down, repeat, rinse and cycle again. So, I guess he will be right half the time, like anyone else.
Newbies reading threads like this, please do not get sucked into the hype. This is currently a very expensive game and you will have the chips stacked against you. Do your due diligence, so you don't look silly starting threads like this in the future which you will be forced to do once you get sucked in. The $ is the ultimate end goal for all these salesmen. Be VERY VERY careful.
Some of us 'newbies' are not in for the speculation. It is only if you do not truly understand what Bitcoin is, that you might tempted to think it's nothing but a game, a scam or a ponzi whatever however you want to call it. Bitcoin CAN be used to speculate, to scam or for a ponzi scheme, just like paper fiat money. You don't warn people not to get into the 'hype' that is fiat do you?
Peter Schiff is a goldbug who's been singing that same song for decades. He may eventually be right about the economy, but his timing is off. He is trying to sell gold. He's a Jew gold salesman. I generally like him and agree with much of what he says, but he's a freakin salesman.
In that situation I know I'd trade fuel and fuel for crypto. Who can resist what amounts to a number in your virtual wallet? Hell I'd jack off all over the computer screen in glee. What riches.
You can take your running shoes I'll take the ammo.
You can take your running shoes I'll take the ammo.
You guys think ammo will help you when war breaks out? running shoes would serve you better.
Crypto currencies may be useful. we cant know for now. there will be demand for a globally backed currency in such a situation. If the internet survives, bitcoin will survive.
Crypto currencies may be useful. we cant know for now. there will be demand for a globally backed currency in such a situation. If the internet survives, bitcoin will survive.
Newbies reading threads like this, please do not get sucked into the hype. This is currently a very expensive game and you will have the chips stacked against you. Do your due diligence, so you don't look silly starting threads like this in the future which you will be forced to do once you get sucked in. The $ is the ultimate end goal for all these salesmen. Be VERY VERY careful.
Says the person who registered two weeks ago...
Newbies reading threads like this, please do not get sucked into the hype. This is currently a very expensive game and you will have the chips stacked against you. Do your due diligence, so you don't look silly starting threads like this in the future which you will be forced to do once you get sucked in. The $ is the ultimate end goal for all these salesmen. Be VERY VERY careful.
Nah, in the dark years to come where we're eating our own faeces and being terrorised by gangs of bodybuilders wearing antlers, the perfect way to relax will be to use up some precious diesel or force grandma to pedal to generator so we can send electronic units of account to each other.
Economic collapse worse than the great depression as many predict. Sure, the most valuable assets will be food, fuel, ammo, and crypto. 
not crypto
ammo yes, lots of ammo
if u don't have guns ur in trouble
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