Peter Schiff: Bitcoin And All Other Alt-Coins Will ‘Go To Zero’ (Podcast)

Peter Schiff is Chairman of SchiffGold, CEO and Chief Global Strategist of Euro Pacific Capital, Inc, and host of The Peter Schiff Show. Peter is an economic forecaster and investment advisor influenced by the free-market Austrian School of economics. He is one of the few forecasters who accurately and publicly predicted the 2007 housing market collapse and subsequent 2008 financial crisis.

One of the main topics of discussion that we spoke about on my latest podcast was Bitcoin. After noticing that Schiff had taken exception to the way that one CNBC anchor had previously been bullish on the cryptocurrency, before turning around and saying he was net short, Schiff put out a series of tweets stating that he should be fired from the network.

Our discussion stemmed from there, with Schiff commenting not only on why he believes all the cryptocurrencies are going to zero, but also why they have had a negative affect on the price of gold, which hasn’t really been able to find a bid over the last couple of months despite all of the volatility in the equity markets.

ChartGold Price in US Dollars data by YCharts

From there, we went on to talk about why Schiff likes gold, emerging markets and commodities going forward. Schiff explains his stance as to why he is bullish on oil here and why he would like to own any commodity that is priced in US dollars.

He also goes on to talk about what the effects would be of a potential currency collapse in the United States and how that would affect global currencies and the global economy.

In this most recent podcast, we also talked about:

Why the Federal Reserve is stuck between a rock and a hard place Why he believes Bernanke, Yellen and Powell are all “incompetent“ What the actual definition of inflation is versus the way inflation is presented by central banks How inflation has a negative affect on the middle class

From there, we went on to talk about the Austrian school of economics and how it fits into the libertarian political party. I wanted to pick Peter’s brain as to whether or not he would consider running for office under the libertarian ticket, so we took some time discussing what his potential political aspirations might be for the future.

You can listen to the entire podcast here:

To subscribe to future podcasts, you can use this link to go through Podbean or this link to subscribe on the Apple iTunes store. You also can subscribe to them on YouTube.

Disclosure: I am/we are long GOLD. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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