Bitcoin Critic Peter Schiff Wins a Bet for a Gold Coin About Interest Rates - He Predicted Correctly 7 Months Into Future
TL;DR: Schiff won a bet made January 20, 2019 about interest rates which were lowered today for the first time since 2008. Video Proof: https://www.youtube.com/watch?v=uZFWL4FLic4 Many have seen the name Peter Schiff crop up around cryptocurrency forums, mostly related to his steadfast belief crypto can't work. People may wonder why he's important. The title is the reason. While most here would disagree with Peter Schiff on Bitcoin, many (like myself) completely agree with him on other things, like politics, economics, and central banks and their policies. What just happened today demonstrates, in impressive fashion, why people like Schiff (economic adviser to Ron Paul's 2008 presidential campaign) command respect. What Happened The U.S. Federal Reserve embarked on unprecedented monetary policy in response to the Great Recession of 2008, lowering interest rates and pumping money into the system to avert a further drop in economic activity. The head of the Fed at the time, Ben Bernanke, gave no indication he saw the collapse coming in contrast to people like Peter Schiff (and others like Mike Maloney) who warned a large economic problem was coming soon. In other words, Peter went against mainstream beliefs at the time. Peter just won a bet today doing the same thing. Making today's news is the announcement the Federal Reserve will cut interest rates. It's significant for two reasons. First, it's the first time this has happened since 2008, over ten years ago! Second, as recently as the beginning of the year not only did nobody expect the Fed to cut rates in 2019, they expected the opposite, rate hikes and more than one hike. Peter's bet was the equivalent of betting on a horse given the worst odds in a race, but ending up winning. Additionally, Peter gave his thoughts about gold prices. At that time in January gold was at about $1,280 per ounce. The panelist Peter bet against said he believed gold would go down in the coming months to around $1,000. Peter, however, said he thought that it was a slim likelihood gold would go back down to $1,000 and even slim it would go below $1,200. He was right again. Today gold is just over $1,400 per ounce. Follow Peter Schiff here: https://www.youtube.com/useSchiffReport
- America has always needed a reason to fund its military industrial complex, which is why the country has had a history of “aggravating” other nations, said former congressman Ron Paul. Paul said that this is the incorrect approach to foreign policy and that the U.S. should be focused on more free trade instead. - With the run-ups of both gold and bitcoin this summer, the asset-classes drew comparisons and heated debates of which is the ultimate, but for former Congressman Ron Paul, the rivalry and competition is a good thing. “I don’t think it hurts anything. I think it’s fine,” he said in an exclusive interview with Kitco News. Ron Paul, who is often a presidential candidate in the libertarian movement, talked on CNBC’s Squawk Box and called digital assets a “great idea.” This politician is also a supporter of precious metals, including gold and he has been a Bitcoin supporter. Libra, the cryptocurrency announced by Facebook on June 18, has also been attacked by regulators around the world that consider that it ... Sound money is needed now, says Ron Paul as charts compare the Dow Jones to its position in early 1930... Continue reading Bitcoin to the Rescue as Ron Paul Says US Fed ‘Fake Economy Has Burst’ The post Bitcoin to the Rescue as Ron Paul Says US Fed ‘Fake Economy Has Burst’ appeared first on CoinTelegraph. Digital money that’s instant, private, and free from bank fees. Download our official wallet app and start using Bitcoin today. Read news, start mining, and buy BTC or BCH.
Bitcoin still BULLISH, Ban is Unlikely! Enjin Minecraft Server, Safe Haven Update - Crypto News
Joby Weeks gives Dr. Ron Paul’s Foundation it’s first Bitcoin! If you would like to support him, his wallet address is: 3GBe2oTXNxa7vUjRKAz6B2YNNo7ADyppq9 bitcoins bitinstant nh mtgox raw news videos new hampshire. we use coins dave ridley report. cops Creative commons license, illegal ben bernanke cash monetary policy jobs business economy economic ... Enjin Coin just announced the launch of the first blockchain-powered Minecraft server. Mattie will also talk about Ron Paul saying that Bitcoin Ban won't stop the dollar from self-destruction, the ... Two wild days for the stock market following the Fed meeting and Trumps tweets! Bitcoin is moving up over 10K and the Litecoin halving date is approaching. Learn Crypto Trading Strategies with ... #Bitcoin approaches critical levels. Potential big move expected before next week, GSI signals $BTC is “overheated,” Ron Paul suggests crypto may play a huge...