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Peter Schiff “What Are the Rich 0.1% Doing Before the Next Financial Crisis”|EP46|Bonnie Blockchain
Like a Brinks, for example, to hold your gold.
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Peter Schiff “What Are the Rich 0.1% Doing Before the Next Financial Crisis”|EP46|Bonnie Blockchain
They've been doing it for 160 years and nobody's lost any gold with Brinks.
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Peter Schiff “What Are the Rich 0.1% Doing Before the Next Financial Crisis”|EP46|Bonnie Blockchain
So you can trust third parties.
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Peter Schiff “What Are the Rich 0.1% Doing Before the Next Financial Crisis”|EP46|Bonnie Blockchain
But also, I know that one of the biggest things in crypto right now is stablecoins.
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Peter Schiff “What Are the Rich 0.1% Doing Before the Next Financial Crisis”|EP46|Bonnie Blockchain
And what's a stable coin?
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Peter Schiff “What Are the Rich 0.1% Doing Before the Next Financial Crisis”|EP46|Bonnie Blockchain
Well, that's where you have a third party who you trust with your dollars or your euros or your yen, whatever your token is stabilized to.
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Peter Schiff “What Are the Rich 0.1% Doing Before the Next Financial Crisis”|EP46|Bonnie Blockchain
Most of them are dollar tokens, right?
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Peter Schiff “What Are the Rich 0.1% Doing Before the Next Financial Crisis”|EP46|Bonnie Blockchain
Like Tether, you're trusting Tether.
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Peter Schiff “What Are the Rich 0.1% Doing Before the Next Financial Crisis”|EP46|Bonnie Blockchain
When you buy Tether's token, you've trusted a third party that they have the dollars to back up your token.
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Peter Schiff “What Are the Rich 0.1% Doing Before the Next Financial Crisis”|EP46|Bonnie Blockchain
So if he's going to say that, well, tokenized gold is no good, well, then
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Peter Schiff “What Are the Rich 0.1% Doing Before the Next Financial Crisis”|EP46|Bonnie Blockchain
then neither are stable coins.
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Peter Schiff “What Are the Rich 0.1% Doing Before the Next Financial Crisis”|EP46|Bonnie Blockchain
He's basically throwing the whole industry under the bus at the same time he's criticizing tokenized gold.
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Peter Schiff “What Are the Rich 0.1% Doing Before the Next Financial Crisis”|EP46|Bonnie Blockchain
So I pointed that out.
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Peter Schiff “What Are the Rich 0.1% Doing Before the Next Financial Crisis”|EP46|Bonnie Blockchain
I said, look, I'm happy to debate this with you.
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Peter Schiff “What Are the Rich 0.1% Doing Before the Next Financial Crisis”|EP46|Bonnie Blockchain
I love to debate tokenized gold versus Bitcoin, not just regular gold, because it was the concept of tokenized gold that he was
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Peter Schiff “What Are the Rich 0.1% Doing Before the Next Financial Crisis”|EP46|Bonnie Blockchain
that, you know, he was critical of and said, I had it wrong.
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Peter Schiff “What Are the Rich 0.1% Doing Before the Next Financial Crisis”|EP46|Bonnie Blockchain
And so he said, yeah, let's do a debate.
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Peter Schiff “What Are the Rich 0.1% Doing Before the Next Financial Crisis”|EP46|Bonnie Blockchain
And I'm like, great.
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Peter Schiff “What Are the Rich 0.1% Doing Before the Next Financial Crisis”|EP46|Bonnie Blockchain
And I'm trying to figure out when, you know, all of a sudden, like everybody wants to host it.
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Peter Schiff “What Are the Rich 0.1% Doing Before the Next Financial Crisis”|EP46|Bonnie Blockchain
All these podcasters, big podcasters, we want to host the debate.