What Peter Schiff Gets Wrong About The Current Confidence of The U.S. Dollar, Fiat Money, The Forex Markets & Bitcoin – March 2, 2024

When most people think about Richard Nixon, ending the GOVERNMENTS gold standard, they tend to forget what actually fueled inflation, during the Nixon and Carter administrations.

The actually rise in inflation that ended with record-high interest rates, was the result of PRICE CONTROLS! During the Nixon administration, it was becoming apparent that the United States was the only country embracing a market economy.

Most countries, like Canada for example had no GOVERNMENT gold standard, sure on paper, some countries had a gold standard, but it wasn’t being enforced ABSOLUTELY.

The mistake the Nixon administration made was the implementation of price controls.

Most of us know central banks and their central bank “interest rates” are PRICE controls, but what most people don’t know is something Jeff Snyder at Eurodollar University has been talking about for years now, and that’s the reality that central banks are NOT central, nor do they appear to be as relevant as many of us like to imagine they are.

Once you consider the argument being presented by Jeff Snyder at Eurodollar University, the forex MARKETS and the DEMAND for U.S. dollars start to make a lot more sense.

Am I saying that I like government money? Obviously not, a Gold Standard would keep FISCAL spending under control and also PROTECT our freedoms, the entire concept of a CENTRAL bank is socialist/communist in origin, however what’s being argued regarding Bitcoin and Fiat money is that the only levers the governments currently have over the financial system are FISCAL policies.

or the most part the PRIVATE banks are n charge of printing money basically equating to the money being printed by the PRIVATE SECTOR NOT being that big of a problem. The fiat money problem appears to correlate with the government’s printing of money.

When the U.S. government prints money to satisfy it’s WELFARE LOVNG voter, it also over steps it’s boundaries, by often regulating sectors of the economy that need not be regulated.

It still makes me laugh that VOTERS in the western world have become so stupid, that they’re voting for the government to CHANGE TO THE WEATHER. You can call it climate change climate justice, paint lipstick on the pig all you want, voters in the west are so stupid they’ve voted to have the government CHANGE THE WEATHER.

These are the disasters of FIAT money, these are the disasters of Too Big to fail, and the lack of allowing entities the government likes to receive perpetual bailouts.

I’m the rare person in the modern era who is not a big fan of Elon Musk, who is a WELFARE billionaire. Is Tesla really a better product than Toyota? Obviously not, well, why then is Tesla CEO the wealthiest man on the planet.

Did you know Elon Musk is PRO-Carbon-Tax? What is a carbon tax exactly? It’s welfare for the rich, the smartest thing about Elon Musk is that he took FINANCIAL advantage of Al Gore’s climate change agenda and put himself at the right place at the right time.

So Elon Musk is making bank on two sides, one from government subsidies and other from the PRIVATE SECTOR, which imagines based on current government regulations that companies like Tesla, Inc. are indeed too big to fail and represent a SHARED goal for PUBLIC-PRIVATE partnership.

Now, let’s imagine a GOVERNMENT gold standard in a crazy world like this. What would a gold standard represent in a world when voters, are voting to have the government CONTROL THE WEATHER? Where does gold-backed currency fit into any of this?

I’d argue NOWHERE, ON THE FLIPSIDE, where does Bitcoin fit into this? Everywhere, Bitcoin, similar to TWITTER is a digital innovation, that is the recipient of capital that imagines that it represents the future, of finance.

I’ve stated in several posts that “the point of sale” is how governments can not only tax bitcoin but also control it. Some are arguing that governments, namely the U.S. government has already taken over Bitcoin. Bitcoin freely traded, for the most part Bitcoin is priced in U.S. DOLLARS, and it does NOT have a limited supply, the Satoshi market is a real thing.

Central Bank digital currencies(CBDCs), I’ve argued, would put the FISCAL policies back in the spotlight because we’re on a LEDGER money system and because CBCDs will strip you of your PROPERTY RIGHTS(money, physical fiat money included in the form of property) CBD’s would actually be the death kneel of the U.S financial system.

In Canada, their idiot Prime Minister Justin Trudeau, the first time he experienced a protest he didn’t like, instinctively moved to FREEZE DIGITAL bank accounts. By doing this, he made CBDC’s invalid. Will idiots give up their rights to CBDCs? Of course, they will, by the more savvy do what they’ve always done, CHANGE THEIR BEHAVIOR which could be anything.

Humans aren’t static, I’ve spoken to people n North Korea, China, Russia, Africa, who live under tyranny, and things I’ve never even imagined, to avoid their tyrannical governments, is embedded into their personality.

Jesus Christ guarantees us FREEDOM and LIBERTY; believers in permanent solutions to “problems” guarantee us misery. a Government gold standard is NOT a solution, if anything a government gold standard guarantees us that WHEN the government bankrupts the country, the people will vote for or ALLOW a tyrannical government to “FIX” the problem.

When Justin Trudeau of Canada, initially froze bank accounts, he was very popular to Left Wingers and others in Canada, I remind you that POLITICALLY over 60% of Canadians vote for a LEFT WING politician.

Do you really want a gold standard when you’re surrounded by TYRANTS? Nope, I’d actually prefer Gold to be on a perpetual Discount. God is the GREATEST as my Muslim brothers like to say.

There is still demand for the FIAT U.S. dollar, because it’s the market deems it the best. Bitcoin is doing well because it serves the interests of the elites; there are only a handful of liberty-minded people who own Bitcoin, and most of the owners of large chunks of Bitcoin are tyrants. You don’t have to be in government to be a tyrant. Once you openly support tyranny, people have the right to be skeptical of you.

During eras of slavery, the house slave may have been more of a threat to the overall public than the property owner. If you’re close to the beast and you’re disinterested in slaying the beast, it’s not that you’re necessarily a bad person, but why should I or anyone else trust you?

I’ve heard Kevin O’Leary say several times that he wants the government to regulate Bitcoin so it’s viable in the marketplace. Whose market place, the governments marketplace?

The same government flooding the United States with ILLEGAL immigrants, that Federal government? Do you really think a Gold Standard or a higher Gold Price is going to tame that wild beast? Have you gone mad?

Selling austerity is hard sell in the modern world, I think it took 100+ years, for Argentina to vote for AUSTERITY. That’s the devils playground we live in, and as a Christian that’s why I love my Lord and Savor Jesus Christ, because I can to watch in real time, how sinful we all are. I don’t know how to solve this demonic LAZY nature in humanity, and you neither do you.

What we can do is accept that our CHRISTIAN forefathers, saw this a lot faster than we did, and we all have to cooperatively do what we can, expose these demonic forces. Gold is not quick or a long term fix, and the markets have known this for a long time, Gold is as BORING as insurance, and in my opinion should be imagined as such.

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By the way for most people even insurance isn’t there when you need it, only Jesus Christ is there when you need him most, so accept him as your Lord and Savior, and spread the message of Freedom, Liberty and PROPERTY RIGHTS. the last thing I want in this modern era is a GOVERNMENT gold standard. The government already has enough excuses to kick open my door and arrest me, for any charge it wants.

If the only thing I have to worry about is government money losing it’s purchasing power, I accept that over them having the legal authority to confiscate my gold because it went over budget and THE VOTERS or the people want a “NEW DEAL” for the “common man.”

Interesting times ahead