Economist and gold advocate Peter Schiff wrote on the X platform that Trump has recently expressed interest in buying Greenland, and has also hinted at the possible repossession of the Panama Canal. These may be Trump's negotiating tactics to buy it back at a good price, but if these ideas sound crazy, they are far less crazy than the United States buying bitcoin.
Economist and gold advocate Peter Schiff has once again made clear his opposition to strategic bitcoin reserves and has proposed alternatives that the United States could adopt. Schiff wrote on X that the United States could save a lot of money by creating "USA Coin" instead of a strategic bitcoin reserve. Like bitcoin, the supply of U.S. coins is capped at 21 million. He...
Peter Schiff, an economist and gold advocate, wrote on the X platform that one good thing Biden could do before he leaves office is to sell all the bitcoin currently held by the US government, raising funds that would not only reduce the budget deficit in 2024, but also end all the nonsense about "strategic bitcoin reserves," adding that "Biden could sell everything before Trump takes office so Trump doesn't have to renege on his campaign promises."
Peter Schiff, a prominent economist and gold proponent, wrote a "mockery" of Bitcoin on the X platform in 2019: "Keep dreaming, Bitcoin will never reach $100,000," to which CZ responded: "Don't dream. Keep building."
Economist Peter Schiff pointed out that as Trump's approval rating has risen, Bitcoin has not followed other Trump-related assets, possibly because speculators have bought in advance, resulting in weaker demand. He predicted that Bitcoin may face a "Trump sell-off wave", and believes that under inflationary pressure, gold's safe-haven advantage is more prominent and it is entering a bull market.
Peter Schiff, the economist, warned that restoring the real economy would require a collapse of the "fake economy", which would cause significant economic losses for many people. But he stressed that the alternative was worse because it would lead to currency devaluation. Mr. Schiff criticised government and Federal Reserve policies, especially after the 2008 financial crisis, and warned that debt-fuelled economic bubbles were now bigger than ever.
Economist and gold advocate Peter Schiff has made several posts on X this week highlighting the rise in gold prices and discussing the economic factors affecting gold and related stocks. "Gold is having one of its best years on record, rising more than 26 per cent and on track to surpass the 32 per cent rise in 2007," he said on Friday.
Peter Schiff, a bitcoin critic and gold proponent, wrote on X: "Kamala [Harris] can't say what she wants to do to fight inflation because she has no plan. The only way to lower prices is to cut government spending and reduce regulation, but she has promised to do the opposite. So a vote for Kamala is a vote for higher inflation." He also replied to netizens: "It is recommended to vote for Trump. In either case, inflation will go up, and so will gold. Yes, I think...