/biz/ - Business & Finance

>>25280740

>>25280740
>If

>>25280752
poor peter....imagine getting skullfucked in front of everyone

What's even funnier is that the SEC has already explicitly stated that bitcoin and ethereum are currencies.

>>25280740
>>25280752
He's got to be trolling. Honestly.

>>25280752
Goyim are a security. Tax them more!

>>25280841
rare pokemon cards are a security! people only buy them in order to sell them for more money later! alert the SEC!

>>25280840
Of course he is, he's a talking head. He gets paid based on how much attention he gets. Making shitposts about BTC is a really easy/lazy way to get attention because autists can't help themselves but respond.

>>25280740
He sells fear. He is an expert in exploiting peoples fears to sell shitty self help books. And i kinda admire him for that. If you really believe that he has any kind of expertise behind that. And that you should take him seriously for the advice he gives about gold or silver you're an idiot. Inflation is at 0,65% in the US and this guy is talking about hyperinflation.

Spreading this kinda fud in position of peter should be illegal.

>>25280752
So essentially everything can be z as security by his definition.
-trading cards? Security
-old books? Security
-gold? Security
-stamps? Security
-old coins? Security!!!
Can’t teach an old dog new tricks, clearly.

>>25280983
>inflation
Well it's tricky, since the official inflation calculations based on prices of a basket of goods are manipulated to hell and back. The actual money supply HAS massively inflated, and prices are rising overall, just not on the basket of goods the government uses as their official measuring stick.

Now, is gold what you should really be holding during that time? Maybe, but imagining that you'll be a kingmaker in the future because you hold 30oz of gold coins and bars is like imagining holding a million XRP will make you a kingmaker in the future: it only works if governments decide to reissue fiat backed by whatever you're holding.

Anyway, back on topic: FUCK PETER SCHIFF HE'S AN IDIOT HIS OWN SON CALLED HIM OUT TROLOLOLOLOL

>>25281091
He is a fear peddler he wants people to buy his books and buy gold on the sites he's constantly shilling.

>>25280752
Jesus what a fucking retard. Literally every type of collectable ever is a security then.

>>25280740
>>25280752
Boomer gold salesman makes an ass out of himself on Twitter (colorized 2020)

>>25281071
Not illegal, freedom of speech is more important than propping up a house of cards. Instead, people who fud like this should be barraged with "show us your short" rather than argued with. It's on the chad spectrum of argumentation on the level of "put your money where your mouth is or you're a whining loser".

Peter Schiff has done the most fatal mistake anybody can make whilst trading and it's letting emotions dictate his choices. He has "principles" which he goes by and he will cope in every single possible way if it doesn't go his way by letting his emotions rule him.

economics is a meme profession

>>25281256
Yes, everyone should ignore economists and read Taleb's Incerto instead.

the only money this guy made is taking managing fees from his customers' money, and all he did with the money entrusted to him is lose it in a decade-long bvllmarket.
taking "not a financial advice" from a salesman is how you always lose your money and they get theirs

>>25280740
you might unironically be the Peter of "EPIC doesn't have any intrinsic value". Just sayin'

>>25280840
Of course he is, his company sells gold custodial services and he gets a nice payday from it. He recently shifted operations to puerto rico because of tax so business is booming. Why would he shill Bitcoin? His tweets get so much attention from crypto crowd that any publicity is good publicity for him.

>>25280740
He is just larping
He knows BTC is based, but it would ruin his goldbug business

>>25281134
>Well it's tricky, since the official inflation calculations based on prices of a basket of goods are manipulated to hell and back. The actual money supply HAS massively inflated, and prices are rising overall, just not on the basket of goods the government uses as their official measuring stick.

Anon i know that there is always room for manipulation when it comes to the calculation of inflation. But if the situation(manipulation) was as dire as some people believe(Peter). You would see a massive sellof of US treasury bond all over the world and big economies reducing their currency reserves in USD. But the opposite is the case, all major including Russia and China are buying USD except the Eurozone because the euro is the USD closest competitor as world reserve currency

>>25280740
The BTC part is retarded but he makes a valid point. The SEC just decided to BTFO a ton of XRP holders, they could label almost any alt coin a security and send it down the drain. This isn’t good.

>>25280740
>Bitcoin has no CEO
>Blockstream controls the development of Bitcoin Core
>Blockstream has no CEO
>Adam Back
Anon, I...

>>25280752
The absolute state of boomers

>>25281490
If you read Zeihan it makes sense. Although Bretton Woods is falling apart the US military is still the world guarantor of peace and free trade, and as such we can offload our currency problems onto other nations/currencies. We also have basically the only large economy that's not facing demographic collapse and/or local war in the near future.

So there's reasons to be bearish on the USA and reasons to be bullish. Even if you forecast a collapse of the Union, like I do, you can't say that whatever forms in the aftermath won't still be the most powerful economic region on the planet. Yes, other nations are buying USD denominated financial assets, but they're also hedging with gold and in other ways. The details of why a government would pursue both paths at once are too complicated to really get into here unless you want to have an in-depth conversation about it.

>>25280740
>how did a jew ever get elevated to a position he is not worthy of holding?
I dunno anon, really a mystery

>>25280740
He makes money by selling gold. He bashes crypto because he wants to scare potential crypto investors into buy gold (where he makes money). I'm guessing he inherited a bit from his dad who was stood up to the feds, refused to pay taxes, and died in prison for it. Kind of based.
Nobody but fake news considers him an expert. He's somewhat entertaining and Jewish so the the media likes to interview him.

>>25281538
It is. Everything would prove why Bitcoin is the only thing that matters.

>>25280752
How can one man be so smart, yet make such stupid comments? Is it really just a complex way of coping?

>>25280740
>>25280752
Many people here probably already know this, but damn, this Schiff dude really is a retard.

>>25280740
>what happens to the price of bitcoin if the sec alleges that it's a security
top kek, what a dumb statement. Who does the SEC sue? An anonymous guy with the pseudonym Satoshi?

This is like saying "hurr durr what happens when the SEC goes after gold"

>>25281866
>How can one man be so smart, yet make such stupid comments?
Anon, the evidence is right in front of your eyes. What on earth makes you think Peter Schiff is smart? Read Fooled By Randomness.

>>25280740
Chutzpah

>>25281866
For one, he's a boomer. Boomers get irrationally angry at new-fangled things they don't understand.
But more importantly than that, his entire business is shilling for gold. He runs a gold dealership for fucks sake. It's a blatant conflict of interest, and it's why he constantly poo-poos bitcoin, because it's a competitor to his shiny boomer rocks and he views this as a zero-sum game, rather than BTC and gold both being two ways to leave the fiat scam

>>25281727
>If you read Zeihan it makes sense.
I wouldn't place too much into Zeihan.

Been a year and a bit since I last view his stuff and discussed it with others, but in summary, if you're like Zeihan, and make a large number of predictions - you're obviously going to be right.

>>25280796
he was asking for it

>>25281091
no those are not securities altho stamps could be. we had a thing around here where you bought stamps put them in a book and they paid interest on your money when you cashed out. that's a security.

>>25282076
I like Zeihan because he digs deep into data sets that I think are pretty important to understanding the short and mid term futures of various economies and nationstates. His understanding of modern warfare is laughable but I think he's right about where the friction points are going to be and how that's going to impact shipping in those regions, which is what the military people DON'T understand.

So I'm not saying everything he predicts is going to happen, I'm saying that his model of the world coheres pretty well with reality and that explains some of the international financial movements that we're seeing, especially in regards to the US being able to inflate and everyone else having no choice but to inflate along with the dollar.

The IRS threw his father in prison where he died.
Peter is on a suicide million to end the Fed.
You fuckers don;t know shiat. poop heads

>>25280740
selling fear porn for the last 11 years or so scaring people into buying gold and especially silver

>>25280840
Of course he is, he's just doing it for publicity lol

https://schiffgold.com/buy/buying-gold-silver-bitcoin-2/

>>25280963
this. stop talking about him you brainlets. everybody in crypto should mute and block him

should i just sell bcrx and osmt i fear it will just keep dumping further down and i’m already at a loss for both

>>25282273
I don't like to make long term prediction that have a big likelyhood of being nothingburgers. To come back to the other posts i made. I just want to add. That if hyperinflation were to happen one day, we would see signs and economically literate people would be able to prepare and hedge for developments. Currency don't become worthless overnight. I don't like to place all my eggs in one basket because of Zeihan or any other political analyst. I prefer to analyze the situation i have at hand and adapt accordingly.

>>25280740
He bought a lot of gold in the 90s and is still bragging about a what, like a 4-5x? But in the past 10 years its been a stable coin soooo

all currencies are now hyperinflating
soon it will catch up at the street level due to "direct payments" as people buy plastic shit from China

>>25282280
How does constantly FUDing BTC hurt the Fed?
There is no such thing as intrinsic value. All value is subjective. Yes, fiat is going to collapse eventually, but gold is one of many assets, and there is no reason to believe that it will fill the place of fiat. In the Soviet Union they used blue jeans as a currency FFS. Humans are much more adaptable than you think they are, and aren't instinctively prone to "Grok like shiny rock" thinking.

>>25282693
The dollar is already inflating rapidly enough that I think it unwise to hold onto dollars or bonds at all. Everything must be pushed into assets. When the collapse really hits, it's going to happen like when the stores ran out of toilet paper and then rice and beans started being limited for sale. I don't know about you, but I didn't get a heads up that toilet paper was going to become scarce.

Definitely don't keep all your eggs in one basket but at least don't put them in the basket with a hole in it.

>>25280740
Extremely based, fuck cryptotard cult.

>>25280740
EUROPAC loses money
they underperform the overall market, by a lot

check this out
https://topratedfirms.com/brokers/customer/europacificcapital-review.aspx

>>25280740
I stopped listening to this retard years ago he’s embarrassing at this point

>>25282896
Gold is useful for bribing border guards to let you and your family over the border to seek asylum. I wouldn't reveal to a border guard that I had crypto, but I would reveal to him a small amount of gold with the promise of the rest once we got to somewhere we could file an asylum claim.

>>25283060
>>25281358

>>25280752
>>25280796
>>25280840
>>25280841
>>25281091
>>25281164
>>25281166
>>25281717
>>25281866
>>25281919
>"an investment contract for purposes of the Securities Act means a contract, transaction or scheme whereby a person invests his money in a common enterprise and is led to expect profits solely from the efforts of the promoter or a third party, it being immaterial whether the shares in the enterprise are evidenced by formal certificates or by nominal interests in the physical assets employed in the enterprise."
>"The test is whether the scheme involves an investment of money in a common enterprise with profits to come solely from the efforts of others. If that test be satisfied, it is immaterial whether the enterprise is speculative or non-speculative or whether there is a sale of property with or without intrinsic value."

------------
>"with profits to come solely from the efforts of others. If that test be satisfied, it is immaterial whether the enterprise is speculative or non-speculative or whether there is a sale of property with or without intrinsic value."
SEC will claim that Bitcoin is a common enterprise in which profits are expected to come solely from the efforts of Bitcoin Core and miners, regardless of Bitcoins speculative or non-speculative nature, with or without intrinsic value

the argument will be that without Bitcoin Core and miners Bitcoin is worthless and therefore all speculative and non-speculative
profits are derived from their efforts
whether BTC is actually a security or not doesn't matter - the SEC has been given the order to kill BTC and XRP was just an easy target to normalize the SEC cracking down on crypto

I don't expect you niggers to believe me since you didn't believe me when I told you XRP was about to get anally raped by Uncle Sam

>>25283088
That I agree with, though you'd probably get a similar response with silver coins.
My issues isn't holding PMC. They do have (subjective!) value. My issue is the goldbug delusion that they're the only asset that holds objective value, and everything is purely driven by subjective speculation.

>>25281315
Hell yes.

>>25280752
Gold isn't a security because there are other uses. For example, you can buy gold to make a tooth out of it without any intention of making a profit.

>>25281358
>>25280740
>>25280752
also, check this out
he didn't make any money on the 08 financial crisis
he bet on foreign markets rallying and lost a lot of money
http://selfinvestors.com/tradingstocks/news/peter-schiffs-euro-pacific-capital-down-40-70-in-2008/

LOL
so even his fame of "predicting the 08 financial crisis" is just for show
he didn't make money on a short

>>25283286
>Schiff and his brokers mean well, but they are all still brokers. I pulled all my money with them, and put it in gold and silver bullion, losing about 54% of the money! I’m not whining, after all, it is the stock markets we are talking about. Learning a lesson is hard somtimes! My advice to anyone with Europac is get out while you can!


HAHAHAHAAHAHHAHAHAAHAHHAHAHAAHHAHAHAHAHAHAHAHAHAHAHAHAHHAHAHAHAHAHAHAHHA
NOW YOU KNOW WHY HE HATES BITCOIN

>>25283173
Yeah, we're in agreement. Except with silver I'd say that given the low fiat price it's trading at, you'll need a larger volume of silver to make a meaningful bribe (I'd plan at least $5000 in bribes to make it across a border, because it has to be enough to be worth the border guard's risk, too). That's like 200 oz of silver, which is too much imo, whereas you can show a 1 oz gold coin to a guard and promise another couple coins once you make it to an embassy or other government building. Gold can easily be sewn into clothes in those amounts, silver not so much.

>>25281954
NNT is a pseud

>>25283141
holy shit, a bcash shill. i thought you all were dead.

>>25282039
So it is ultimately just a cope then right?

>>25283474
I'm not shilling bcash, I'm pointing out that they are two different distinct enterprises with different development teams and miners

>>25280752
By that reasoning everything anyone ever invests in is a security.

>>25283141
having big blocks isnt necessarily a good thing..

>>25283490
Yes, but it's more than *just* a cope, because the main reason he FUDs crypto si because he wants to scare his followers silly. He doesn't want his people investing, oh say, 5/50 into gold/btc rather than 100% gold

>>25283454
He's anything but man. He reads the classics and does math for fun. He's the quintessential old school intellectual. He's also independently wealthy from trading so he can put his money where his mouth is.

>>25280740
Who are all these 1800 people giving this post likes? Jesus fucking christ.

>>25283520
bcash has no devs or any development

>>25283778
We all at /pmg/ love Pete.