Schiff w/ Sanchez: Blockchain is a Digital Ponzi Scheme

Earlier this week, Peter appeared on the Sanchez Effect for an interview with Rick Sanchez. Together they sift through the international fallout from America’s fiscal and monetary choices and explains why other countries are actively trying to reduce their exposure to the dollar. Peter connects that trend to production, trade balances, the enormous off-balance-sheet liabilities of the U.S. government, and why gold — not promises or digital tokens — remains the only credible anchor left in a world awash with fiat.  

He opens by explaining why nations are eager to divest dollar holdings and the political pressures that accelerate the trend:

It makes perfect sense that China would do this. China has had plenty of reasons to do it in the past, but Biden and now Trump have given it even more reason and not just China. There are countries all around the world that really want to divest of dollars, not just because the dollar is a flawed currency to hold, that we’re going to keep printing dollars because of our massive debts. And so the holders of dollars are going to lose purchasing power the longer they hold them.

He frames the shift away from dollar dominance as ultimately about who produces real goods and services, not who merely consumes them: