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

But you can't store a price.

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

So just because Bitcoin, the price is $93,000 for Bitcoin, I can't store that.

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

Because price is a function of supply and demand.

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

And it's possible that in the future, there's no demand for Bitcoin, which means the price is zero if nobody wants it.

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

There's never going to be a situation where there's no demand for gold.

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

In fact, the lower the price of gold, the more demand there is.

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

Bitcoin works the reverse.

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

People want Bitcoin when the price is going up because they think it'll keep going up.

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

When the price starts to crash, people don't want to buy.

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

No, it is a store of value and people are afraid of inflation, not as fearful as they should be.

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

I mean, I think you're going to have a lot more buying, but I think the central bank buying

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

is more about the U.S.

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

dollar and the credibility of the United States to ever get its fiscal house in order.

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

We have deficits that are skyrocketing out of control.

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

Yes.

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

Well, it's been a problem I was talking about before that.

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

I mean, this problem did not...

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

happen overnight.

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

It's been building over the decades.

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

It is.