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IPFS News Link • Bitcoin

With 'Halving' Imminent, Peter Schiff Says 'Bitcoin Has No Value'

• Zero Hedge

Via SchiffGold.com,

Peter recently appeared on Market Overtime with Oliver Renick for an interview. In their wide-ranging discussion, Peter speaks on monetary policy, the reliability of inflation data, and reasons to avoid Bitcoin.

Contrary to the popular narrative, gold's recent rise is not because of world conflicts. Inflation is the driving force behind the metal's price action:

"This is just the beginning of a massive re-pricing of gold, and people aren't even buying it yet. You have central banks buying, but investors aren't even buying gold. Retail investors, the institutions— they're not in the market at all. They don't even understand why gold is rising. They're attributing it to geopolitical risks, but it's all about inflation. The key is that the markets have the inflation story wrong. The Fed rate hikes up to five and a quarter, five and a half, have not been nearly enough to put the inflation genie back in the bottle."


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