Bitcoin Investors Will Eventually Get Wiped Out

More people own bitcoin at a loss than at a profit, this according to Peter Schiff, CEO of Euro Pacific Capital. Speaking on the sidelines of the Vancouver Resource Investment Conference he said, “the number of people who bought into the market at $12,000 [a coin], $13,000, $14,000, is enormous… people had no idea what they were doing.” 

Schiff added that if bitcoin doesn’t rebound from current levels, then “the brand is tarnished,” and success stories about investors having made millions off the cryptocurrencies will change to people losing all their investments. 

“Bitcoin is all based on faith, and when the confidence goes, all the value goes,” Schiff said. “There are a lot of people that refuse to sell because they think it’s going to a million, in the end it’s all going to be wiped out.”

- Source, The Street

Ivan on Tech debates Peter Schiff: Bitcoin vs Gold, US Dollar Crash

I'm excited to tell you guys that we'll have the one and only Peter Schiff here on the show! Peter has been critical about the traditional financial system for many years, he foresaw the financial crash of 2008. HE HATES BITCOIN though. Peter is all about gold and doesn't see the value in Bitcoin. We're going to talk about his past, financial system, gold, bitcoin, dollar crash etc.

- Source, Ivan on Tech

Conditions Ripe For 1987 Style Stock Market Crash

The economic situation the world now faces is dire. Markets are over inflated and set for a crash. This will not end well. We have seen this all before...

- Source, Peter Schiff

Peter Schiff: This Dollar and Economic Crisis is Bigger Than 2008

Financial expert Peter Schiff predicts, “Now, the crash in the dollar that I envisioned (years ago) and the crash in the U.S. economy is going to be much bigger than 2008 and much more dramatic and devastating to the average American as a result of the delay. We haven’t dodged the bullet, we have ended up stepping on an even bigger landmine.” 

Schiff contends it’s not a matter of “if” there is going to be a dollar crisis, it’s simply a matter of “when.” Schiff points out, “All measures of gold and silver show it is inexpensive. The reason it is inexpensive is many people have the wrong view of the state of the U.S. economy and where monetary policy is headed. 

That’s where the value is because so few understand. It’s just like the 2008 financial crisis, people didn’t understand what was coming. I did.”

- Source, USA Watchdog

The Dollar's Declines Are Just Getting Started

The weakening of the U.S. dollar is just getting started, warned veteran market forecaster Peter Schiff, CEO of Euro Pacific Capital.

"We have just begun a major, long-term bear market in the dollar," he said, which should cause a spike in oil prices. He thinks oil will reach $80-$100 a barrel in 2018. The commodity currently trades at over $63 a barrel.

- Source, The Street

Peter Schiff on the State of the Markets, Fed Policy, and Bitcoin

Bitcoin prices are headed to near zero, according to Peter Schiff, CEO of Euro Pacific Capital.

"I wouldn't encourage people to bet on it," he said. "I do believe that no matter how high bitcoin goes, it's ultimately going near zero."

On Tuesday, Eastman Kodak Company saw its stock price surge after it unveiled a cryptocurrency, KodakCoin, a development that reminds Schiff of the dot-com Internet bubble in the 1990s.

- Source, The Street

Peter Schiff Talks his 2018 Gold Outlook

Investors should brace for a weaker U.S. economy in 2018, says Peter Schiff, CEO and chief global strategist of Euro Pacific Capital Inc. Schiff sees U.S. equities’ steady rise to maintain course early in the new year, but reverse trends as macroeconomic forces create headwinds on stocks. 

“I expect prices to continue to rise for both producers and consumers, so accelerating inflation, a weaker dollar, ultimately a weaker economy, that should take its toll on stock,” he tells Kitco News.

- Source, Kitco News