This the first time I’ve heard Peter Schiff speak. I’ve seen his X posts but not ...

npub12qv…7qta

2024-11-22 01:13:24

This the first time I’ve heard Peter Schiff speak. I’ve seen his X posts but not much more than that. Loved this episode of WIM. breedlove22 (npub15vz…k4um) spoke eloquently and calmly (in most cases) and had a solid argument for each point. Peter seemed stuck on the ‘but it’s got no intrinsic value’ argument and couldn’t articulate his thinking beyond this statement. If fact he seems to think that only a physical object has any value. I wonder what he thinks of Facebook or Google? Is that also ‘digital nothing’?

His other argument was that he could transfer gold ownership digitally much faster than a bitcoin transaction (he also used the ‘slow BTC transaction time vs Visa/Mastercard). As LynAlden (npub1a2c…w83a) so clearly pointed out these legacy high speed transactions are NOT final settlement. Peter said he could transfer gold ownership digitally to anyone, anywhere, anytime. But he does not seem to understand final settlement. Sure, he could send a digital certificate to transfer ownership, but the actual gold is still sitting in the vault where Peter put it. That has not magically moved to the new owners vault.

https://fountain.fm/episode/PHZ49sWYD2MWdA54kmfO

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2024-11-22 01:13:24

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