Peter Schiff VS Brent Johnson: The Future Of The US Dollar

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Peter Schiff VS Brent Johnson: The Future Of The US Dollar
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In this video from VRIC 2020 Peter Schiff and Brent Johnson debate about the future of the fiat money specifically US Dollar and the gold standard.

Peter Schiff believes the US market has never been as overvalued and over priced. And one of the  major warning signs is we blew up the private equity market. This decades dot.com bubble is the private equity market destruction. This destruction will lead to the decline of the US dollar and eventually a remonetization of gold as the dollar loses its place as the Worlds Reserve Currency.

Peter Schiff's theory is that Central Bankers around the world are under the false impression that a cheap currency is a good thing because it allows them to export more to the United States. However, the US is broke and can never pay for what it's buying.

And since America is the largest debtor nation in the world and have more debt than other major countries combined and manufacturing is such a small portion of the US economy, there is a complete dependency on foreign goods.

And Relative to Wealth producing components of GDP no other country on earth has as much debt as the United States.

Add in contingency guarantees such as bank accounts, pensions, brokerage accounts that the US government is committed to funding despite the lack of money to pay for these things.

Combine all of this together and there is the potential for a currency crisis the likes the world has never seen. Schiff thinks this because there is an unrealistic level of belief for the US Dollar.

Schiff thinks the dollar will perform worse than other fiat currencies around the world and that we're going to remonetize gold as the central asset.

Brent Johnson ultimately believes the same ending but with a different theory on how it will all go down.

Brent's theory is that MMT is that the government will spend more money into existence and the central banks will want to control of the monetary policy. And that the dollar will go up and people will continue borrowing and buying which will ultimately lead to a massive currency crisis.

Every country in the world has over leveraged their economy and Brent Johnson believes that Central Bankers in every country are making the same bad bets across the world.

Brent Johnson makes note of The Plaza accord and that it was put in place in 1986 to artificially weaken the dollar against the other worlds Fiats because it was too strong. He argues that the dollar will be the the worlds central currency until fiat fails.

Schiff's theory is "Money Is Nothing" and the value is the production and real goods that a country has. Money just lets you divvy up whats been produced. The wealth of the nation is the productive capacity of that nation.

Schiff also believes that in order to have a strong country you need:
*Factories
*Skilled Workers
*Production

Which are things that the US severely lacks and will pay a massive price for the over dependence on countries that do have these things.

The Canadian economy will benefit from a resource and precious metals boom that will help the Canadian dollar.

Schiff on inflation: Inflation initially pushes up asset prices before consumer prices.

Brent believes that digital currencies could be the future of money and likely will be implemented by most countries in the near future.

Brent and Peter agree that The Gold Standard will happen after a general loss of confidence in fiat currency.

Schiff explains MMT Modern Monetary Theory as the practice of taking Quantitative easing to the extreme. Printing Money without creating prosperity. Democrats will rely on the central bank to fund their spending agenda.

Repo rates have spiked to 9% - the market wants rates higher but Americans have so much debt and American can’t afford to service the debt. And international banks have been accessing the FED repo market to a greater extent than the US domestic markets. Repo rates spiking shows a demand for funding from the US dollars.

Americans have so much debt that the US government has to keep rates low other

Marin Katusa postulates that the highest risk lies in the credit market with debt in triple BBB

If you enjoyed this video, check out more from the 2020 VRIC conference.

Fireside Chat with Ross Beaty & Marin Katusa
https://youtu.be/jiV1oBE6-sU

Why Liberty Gold Stock Is A Must Own Investment For 2020
https://youtu.be/an0r6tAPKis

The Ultimate Gold Forecast For 2020
https://youtu.be/EK2Y9fVEbD0

Rick Rule Fireside Chat With Lundin Group Executives
https://youtu.be/GRkzH3hLBdo

Subscribe to our CEO's Newsletter, for a Backstage Pass to Cambridge House Conferences: http://bit.ly/37BUuuqCambridgeLetter

#PeterSchiff
#Money
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News & Politics
1,130 Comments
Auggie Giuseppe
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1 month ago
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2


Nathaniel
Nathaniel
1 month ago
How is it that only Peter understands that a nations wealth comes from its production, not its currency?

382


Peter Schiff
Peter Schiff
1 month ago
Too bad they cut off the beginning of the panel when Brett paid off the bet we made last year.   We also discussed the wager, and why i was so sure the Fed would cut, when everyone else was confident they would hike.

639

Cambridge House International Inc.

Drew Graham
Drew Graham
6 days ago
Peter looks like a prophet now. The other dudes are clowns

17


Khaled Adams
Khaled Adams
1 month ago
"The wealth of the nation is their productive capacity." That is the disconnect between these two. Well said Peter!

250


DJ W
DJ W
1 month ago
I love how Peter is so consistent...never angry and always with a smile on his face...even as people are full of hatred toward him...a true maverick.

164


frans2001
frans2001
1 month ago (edited)
Brent "I was wrong again" Johnson, so arrogant

130


Electrical Austin
Electrical Austin
1 month ago
Sounds like Wall Street came to argue with Peter

90


Beau Breedlove
Beau Breedlove
1 month ago
Lol, that Brent guy is a tool

33


Epic878787
Epic878787
1 month ago
Peter crushed this guy while he was trying to be all alpha, "wait a minute" with hand outstretched to block.

90


ChrisP
ChrisP
1 month ago
Yup Peter is spot on - wealth of nation is the goods, production and skilled workers

71


salvo dastice
salvo dastice
16 hours ago
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85


Lex Delaney
Lex Delaney
1 month ago
It's easier to win an argument when you're right and you know it.

55


G San
G San
1 month ago
Peter was dropping knowledge... and it passed way over buddy's head.

65


Hi
Hi
1 month ago
The moderator was a straight hack - constantly whispering to Brent about everything Peter says and speaking for him too... Glad Peter held his own and made his case!

54


Blind River Bill
Blind River Bill
1 month ago
I can't stand someone who's "argument" is a series of obviously pointed scenarios & gotcha questions

23


Koala Bear
Koala Bear
1 month ago (edited)
You can't win arguments by constantly throwing jabbing questions at your opponent and allowing them to completely demolish your position.

45


James Helliwell
James Helliwell
1 month ago
So basically buy gold and wait for a currency crisis

57


bokkenrijder172
bokkenrijder172
1 month ago
Why is this Brent so persistent about wanting to know 'which fiat currency will rise when the Dollar goes down?'
What part of 'who cares about fiat!' doesn't he understand?

32


Eric Lee
Eric Lee
1 month ago
Brent Johnson lost his bet b4 and still absolutely shows no humility - this is 2008 housing crisis all over again smh

106


Quack Tuber
Quack Tuber
1 month ago
I'd rather be first off the Titanic on a raft than bet on which lounge chair is last into the water.