Crypto Hearing: Irony, Lies, and Hypocrisy – Ep 759

The Peter Schiff Show Podcast

Peter Schiff

Business, Politics, Business News, Investing, News

4.7 • 5.8K Ratings

🗓️ 10 December 2021

⏱️ 62 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

* Bitcoin continues to lose ground to Ethereum.
* Maxine Waters leads Congressional hearing on crypto.
* FDIC made banking less safe.
* Bitcoin competes with 14,000 other cryptocurrencies, but not the US dollar.
* Michael Saylor sails off the deep end.
* Bitcoin will lead to greater racial divide in wealth.
* Discount on Grayscale Bitcoin Trust shows institutions are not rushing into Bitcoin.
* Ark Invest launches new Transparency ETF.
* Cathie Wood is the epitome of “this time it’s different”
* Most people have lost money who have invested in Ark ETFs.

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Transcript

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0:00.0	The Peter Ships Show.
0:09.2	Today's podcast is sponsored by ExpressVPN.
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0:27.2	free on your one year subscription package.
0:30.6	Today's podcast is also sponsored by TrueBill.
0:33.7	$5 here, $10 there, it really adds up.
0:37.5	Monthly subscriptions often feel like a great deal until you forget about them.
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0:52.1	Bitcoin is back down below 50,000.
0:55.5	In fact, it's below 48,000.
0:58.1	As I'm recording this podcast, just after the US stock market closed on Wednesday, Bitcoin
1:04.6	is trading at about 47,800.
1:07.7	Not only is it falling against the US dollar, it continues to fall against Ethereum.
1:13.9	I pointed out the breakout in the Bitcoin price of Ethereum on my last podcast.
1:21.1	And Ethereum continues to gain on Bitcoin even as it is slightly lower against the US dollar.
1:28.3	Both currencies are down against the dollar.
1:30.5	And I think that trend is going to continue.
1:33.5	And I think the trend of Bitcoin falling against Ether is going to continue for some time
1:39.5	as well.
	...

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