You Don’t Need To Reinvent the Wheel With Gold
On Friday, Peter participated in an exhilarating debate over the merits of gold and Bitcoin. Professor of economics Nouriel Rabini joined Peter to debate Erik Voorhees and Anthony Scaramucci, two proponents of Bitcoin. They cover a lot of ground in their 2 hour debate, so be sure to watch the full video on Peter’s youtube channel.
Peter and Rabini actually start the debate with a disagreement on “Team Gold.” Rabini is optimistic for the U.S. economy, but Peter explains that we certainly are not in a “soft landing:”
“I don’t think the economy is good at all. I think it’s an illusion created by statistics. I think the reason that Biden is the most unpopular president in modern history— the reason Harris is the most unpopular vice president— is because the economy is lousy. … I think that we’re suffering from 20 years of monetary-fiscal policy mistakes. Inflation has driven the cost of living up maybe 30, 40% in the last few years. As a result American families are struggling. They’re borrowing. Consumer debt is at an all time record high.”
Peter issues a grim prediction about the dollar. Its time is limited:
“We’re benefitting from the fact that other countries are also suffering from the same monetary & fiscal policy mistakes, and that’s causing people to take refuge in the dollar, so I think the dollar remains overvalued versus other fiat curren
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