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4131 total appearances
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Bonnie Blockchain
Peter Schiff “What Are the Rich 0.1% Doing Before the Next Financial Crisis”|EP46|Bonnie Blockchain

So it has those things.

Bonnie Blockchain
Peter Schiff “What Are the Rich 0.1% Doing Before the Next Financial Crisis”|EP46|Bonnie Blockchain

But when you separate that from

Bonnie Blockchain
Peter Schiff “What Are the Rich 0.1% Doing Before the Next Financial Crisis”|EP46|Bonnie Blockchain

intrinsic value of the metal, what you can do with gold that you can't do with other metals or other elements.

Bonnie Blockchain
Peter Schiff “What Are the Rich 0.1% Doing Before the Next Financial Crisis”|EP46|Bonnie Blockchain

When you separate that, the portability and divisibility are meaningless.

Bonnie Blockchain
Peter Schiff “What Are the Rich 0.1% Doing Before the Next Financial Crisis”|EP46|Bonnie Blockchain

Because when you're dividing gold, you're dividing something.

Bonnie Blockchain
Peter Schiff “What Are the Rich 0.1% Doing Before the Next Financial Crisis”|EP46|Bonnie Blockchain

When you're porting gold, you're porting something.

Bonnie Blockchain
Peter Schiff “What Are the Rich 0.1% Doing Before the Next Financial Crisis”|EP46|Bonnie Blockchain

But when you divide Bitcoin, you're dividing nothing.

Bonnie Blockchain
Peter Schiff “What Are the Rich 0.1% Doing Before the Next Financial Crisis”|EP46|Bonnie Blockchain

You're porting nothing.

Bonnie Blockchain
Peter Schiff “What Are the Rich 0.1% Doing Before the Next Financial Crisis”|EP46|Bonnie Blockchain

You know, there's nothing there.

Bonnie Blockchain
Peter Schiff “What Are the Rich 0.1% Doing Before the Next Financial Crisis”|EP46|Bonnie Blockchain

So the only thing that gives Bitcoin its market price, because it has a price, right?

Bonnie Blockchain
Peter Schiff “What Are the Rich 0.1% Doing Before the Next Financial Crisis”|EP46|Bonnie Blockchain

Bitcoin, you know, Bitcoins are over $90,000 right there.

Bonnie Blockchain
Peter Schiff “What Are the Rich 0.1% Doing Before the Next Financial Crisis”|EP46|Bonnie Blockchain

The reason that somebody is willing to pay $90,000 for a Bitcoin or $93,000 is because he thinks that in the future, somebody is going to pay more.

Bonnie Blockchain
Peter Schiff “What Are the Rich 0.1% Doing Before the Next Financial Crisis”|EP46|Bonnie Blockchain

No.

Bonnie Blockchain
Peter Schiff “What Are the Rich 0.1% Doing Before the Next Financial Crisis”|EP46|Bonnie Blockchain

I mean...

Bonnie Blockchain
Peter Schiff “What Are the Rich 0.1% Doing Before the Next Financial Crisis”|EP46|Bonnie Blockchain

Yes, when you buy a stock, the idea is that the price will go up.

Bonnie Blockchain
Peter Schiff “What Are the Rich 0.1% Doing Before the Next Financial Crisis”|EP46|Bonnie Blockchain

But it's supposed to be a function of the business having more value.

Bonnie Blockchain
Peter Schiff “What Are the Rich 0.1% Doing Before the Next Financial Crisis”|EP46|Bonnie Blockchain

So I invest in a company.

Bonnie Blockchain
Peter Schiff “What Are the Rich 0.1% Doing Before the Next Financial Crisis”|EP46|Bonnie Blockchain

And I think that in the future, that company is going to have more earnings than it has today.

Bonnie Blockchain
Peter Schiff “What Are the Rich 0.1% Doing Before the Next Financial Crisis”|EP46|Bonnie Blockchain

It's going to grow its earnings.

Bonnie Blockchain
Peter Schiff “What Are the Rich 0.1% Doing Before the Next Financial Crisis”|EP46|Bonnie Blockchain

Maybe it's going to pay a higher dividend than it pays now, or maybe it'll pay a dividend.