Peter Schiff vs Raoul Pal Debate: Bitcoin Going To $0 or $1 Million & A Great Depression Coming? PT 2

Impact Theory with Tom Bilyeu

Key Takeaways  Inflation is a hidden tax on the people; instead of the government openly taking your money with direct taxation, it creates new money out of thin air which robs people of their purchasing powerGovernments debase their currency because they know there is no other way to pay their existing debts In the United States, houses used to cost about 3x the median income; now they cost about 10x the median income “If it doesn’t have intrinsic value, then it’s not going to be money.” – Peter Schiff“This is the best macro opportunity of all time.” – Raoul Pal on bitcoin People wrongly assume that the dollars we print will always have value, regardless of how many dollars are printed Central banks are paying the debts by printing money; this is pure monetary debasement Papering over the debts with more printed money does not solve the fundamental problem Politicians do not do what is best for the country; they do what is best for their careers, which is often at odds with what is best for the country“They are going to keep on printing until the dollar collapses.” – Peter Schiff The free market tries to lower prices by increasing productivity while the government tries to raise prices by creating inflation Using inflation to melt away existing debts is not the “right” choice, but it is the expedient choice – and likely the option that politicians will choose We will deal with the consequences of currency debasement once the can cannot be kicked any further down the road  

Read the full notes @ podcastnotes.org

Welcome back to part 2 of this power-packed debate with Peter Schiff and Raoul Pal! 

The discussion continues as we dive deeper into: 

- The growing national debt and potential hyperinflation

- Historical patterns of financial repression

- Blockchain technology and digital asset utilization

- The future of Social Security 

You won’t want to miss out on the final part of this hot debate between Raoul Pal and Peter Schiff. 

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