I'm sure most of you have seen this video of Peter Schiff at occupy Wall Street back in 2011. Literally the best video on the internet.
Not because of the great information but because of the degenerates in the video that he absolutely crushes in an entertaining fashion.
Unironically, these occupy Wall Street type degenerate characters in the video are EXACTLY the type of dumb faggots who would be JUST into cryptocurrency but not understand that their situation is so bad because gold doesn't back the currency.
Biz NEETs who think you are so smart and can't even figure out that gold not backing the currency is the reason for massive inflation are exactly like these douchebags in this video who don't understand it either and would definitely be pro crypto.
i dont care gold isnt going to do me any good because i am poor. bitcoin can massively increase in value in the next couple years. crypto could take my pocket money and make it worth something. gold cant
Juan Cook
that said i agree with most of what he says and i do like gold standard and such but whatever. >you think youre so smart if i was smart i would have bought crypto in 2011
Camden Clark
Thanks, watched some time and noticed people there didnt have a clear vision for improvement but were just frustrated hence protested "shits fucked up and stuff"
Jacob Sullivan
Lol, typical richfag crying about his taxes to poor people :D. No wonder they hate him.
Liam Perry
>Occupy wall street was 7 years ago
Ryder Roberts
I too have witnessed such a glorious video and sir I must say, beautifully articulated post.
Stupid asshole gold has stored value for thousands of years. 20$ used to be a good weekly salary 100 years ago and today 20$ barely buys you lunch at a bar.
Gold always keeps its value. The dollar has lost almost all its value. Gold is money, fiat is a fraud that alllows the Jews to confiscate your wealth through inflation. And is unironically the reason you flee to crypto because the dollar is dying because it isn't backed by gold
Leo Edwards
Their situation isn't bad because Schiff not wanting to pay taxes. Their situation is bad because the Jews are destroying the currency through inflation and prices are going up.
Schiff also points out in the vid that he's paying more taxes than everyone around him combined so he's already contributing his fair share
Were you arguing about this earlier and saying you didn't need to shill gold while unironically shilling gold?
The gold standard is a lie. Inflation can still exist in a system with the gold standard depending on the Central Banks monetary policy. The gold standard doesn't fix the root issue, it's just a red herring you've been sold.
Jace Martinez
Absolutely correct inflation still exists under a gold standard but under a sound money system that inflation is basically non existent in a free market economy with market set interest rates in comparison to when man is in control of interest rafednand inflation.
I mean... the 2008 housing bubble was caused by 1% suppressed interest rates. Then obama got in and did the exact same thing as bush but on a grander scale with 0% interest rates... and now we are in a bigger bubble than the tech bubble and housing bubble combined.
You understand there's a huge difference between inflation in a free market and inflation in a market controlled by man(Jews) right?
Andrew Cox
Hard to watch, wide gulf in IQ levels.
Kevin Jenkins
And yes I don't need to shill gold. Gold is money. I don't need you to buy it to become more valuable like you need me to buy tron to make it more valuable.
Gold has been money for thousands of years for a reason. Crypto isn't going to change that and gold isn't the reason the economy is fucked up and it's not the reason youbare fleeing to crypto.
You are fleeing to crypto because you can't make it because fiat is a scam. And it's a scam because it isn't backed by gold
Chase Ross
So entertaining though. But my point is... I can guarantee every single young degenerate in that video is pro crypto. While not understanding that their situation is so bad because the dollar is a fraud and not backed by gold.
It's a scam because it's run by the corrupt. Gold back systems can be run by the corrupt. You keep pushing gold standards without any concern for the root cause.
Gold backed or fiat doesn't matter. It could be sand backed. If the people in control of it don't use sound economic policy the system breaks.
Evan Phillips
so then we need to create another completely new monetary system then i guess because all the current ones are shit
If everyone in the world used a currency backed 1:1 by gold managed by an incorruptible AI with an impenetrable vault, would it make any difference if the gold was actually in the vault or not?
Asher Ramirez
I'm so sick of this goldfag. If/when a great recession/depression happens, you are not trading bars of gold for food/clothing/mortgage/rent/utilities.
What entity/company will exchange gold coins and bars for electricity or gas? Goldfags are delusional
I remember losing a shit ton on silver panda coins that were shilled years ago, fuck precious metals
Christopher Hernandez
It can't be sand backed. If we all went to live in a beach and made sand money that wouldn't work out to well now would it?
Gold backed system might not be 10000% honest but WAY more than fiat based system like now.
Nathan Powell
It would work just fine being sand backed. It could also be back by pieces of bread that look like jesus.
The point is currency that is backed by something is an arbitrary concept and it doesn't actually matter if it's there if we all agree it has value. The issue is the monetary policy of the Central authority over the system.
Jonathan Gonzalez
Remember, gold is currency AND money. Obv we won't go back to transacting in silver... but the basis of the currency has to have value.
It'll probably be a simple reset where people who have their wealth in Jew controlled fiat and stocks will be obliterated and those that own gold and silver will prosper.
China India and Russia are loading up on gold like crazy. China sponsored to its citizens to start buying silver in 2009.
Chinese citizens collectively own 6k tons worth of gold.
What do you know that these govts and people accumulating it don't?
Julian Thompson
What the fuck are you talking about? What do you think happens during a great recession/depression?
Henry Harris
of corse it matters. Gold has been money for thousands of years for a reason because it has all the properties that money has to be.
Tell me... why has gold been money since before Christ and trees or horses weren't?
Angel Hall
Hey now, precious metals are a store of value over long periods of time. Dont worry that it's lost value on multiple occasions since the bubble in the 70s, in 1000 years your offspring will still be able to buy bread. The price action of gold is measure in millennia, not lifetimes.
Andrew Phillips
Fags like him always ignore that things like bitconnect are perfectly fine in their capitalist 0 regulation utopia. He makes it sound like it would be just good businesses making even better products when in reality it would be scams on top of scams on top of scams even more so than it is today lol.
Joseph Brooks
Here's a question. The dollar is failing right? Why is it failing? I mean... all we have to do is agree the dollar is money... yet it's failing.
I don't want there to be a dollar collapse so why can't we all just agree it's money? Yet it's still losing value
Jacob Foster
Because we has a use for trees and horses.
Nicholas White
can you buy dragon dildos with gold
Aaron Wilson
You just said all we have to do is agree what is money and it's money. Everyone agree that the dollar is money in America yet it's failing and losing value and has lost almost all its value in 100 years.
Why is that if all we have to do is agree it's money?
Gold isn't even legal tender anymore yet it hasn't lose any value at all and countries are accumulating it like crazy
Justin Sanders
The value of the total of all US currency has increased, but the supply has out paced it, leading to inflation. It still holds value because we agree it has value.
The value of gold actually went down (relative to the purchasing power of the dollar) until Nixon removed the peg. Then people started speculating on it and it drove the price up. You realize if Nixon hadnt done that it would still be worth $35 An ounce, right?
I'm not even saying a gold standard is bad. I'm saying it's arbitrary. Pick any standard, but we need a better central authority to run it. Guess what currency is run by no central authority, has a completely open ledger, is trustless and uncensorable?
Chase Rodriguez
So oh wise one, where do you store it? In the year 2035, what do my gold bars get me? And why are billionaires keeping their wealth in large growth stocks, real estate, and cash instead of precious metals?
Colton Richardson
There is much Gold in Africa You want gold standard America $ 32000.00 an once we will sell it to you. Don’t forget sally struthers We control the Gold Haaaaaaaaaa But we will sell it cheaper to who we like not America full price.
William Gonzalez
>Stupid fucking African thinks he can boss around the US
Try building a country worth living in first, [name pronounced by smacking lips and clicking tongue]
Jason Hernandez
Look at that disgustingly smug face. It's hard to look more dislikeable. Combined with arrogance and a constant condescending attitude, it's hard to actually be more dislikeable. Fuck him and fuck you OP for admiring him.
Jordan Baker
Africa call other countries to defend us. We by ak 47 look at our warlords We just attack gold mines Yes please come back to Africa
Leo Ward
It’s post apocalypse Some one gives me gold I say I need a boat not gold come back with a boat and then we will deal I have a spring on my property No one has gold in my area just corn
Owen White
He been trying to build our country But the lines of colonization were crazy made us crazy now it normal See some places are out of water Thank you colonization for the lines. We have South Africa white women slaves until they learn English then they will sue you for cash not gold.
Levi Young
You don't think big wigs own lots of gold too? Ha.
Your gold bars get you preservation of wealth instead of the dollar eating away at your purchasing power.
Currency isn't supposed to lose almost all its value like the dollar has. And it wouldn't have if gold backed it.
Jeremiah Carter
peter, just fuck off already. you're not going to convince anyone
