Peter Schiff critiques Bitcoin, claiming it lacks underlying value, deeming it the “ultimate bubble” sustaining due to its unique nature.

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He is not wrong on this. Just because the banks still have a lot of power and are able to manipulate the price of PMs and people’s perception about them, doesn’t mean he is wrong. People are so dumb, they don’t understand history of money and bubbles. Every now and then a bubble of something appears and people go crazy. We are living in such a time. We are in the everything bubble. History shows this doesn’t end well.

h/t 2hd3x5

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