Peter Schiff

@atgintl @saylor I'll do one tonight.

@ErikSchapel @saylor Apples to oranges. Plus the price of that fund doesn't show the total return. The fund pays large distributions every year that reduces the price.

@sinanziric @saylor They likely turned a blind eye due to political pressure from the Trump administration.

I support Trump's refusal to sign the Housing Bill unless Congress also passes the SAVE America Act. The Housing Bill is a bad bill. The SAVE America Act is a good bill. If the President makes the mistake of signing the bad bill, he might as well get a good one as a trade-off. I assumed not signing it was a pocket veto. But that only works if Congress is not in session. Since it will be, the President's gesture is an empty political stunt and I withdraw my support. He should veto the bill outright.

@JoeConsorti Even if some of that is true the lower price on STRC forces MSTR to raise the dividend if it wants to sell more STRC. Since it can't it either must sell MSTR at a huge discount, or BTC. That's the death spiral!

So far the low on $STRC is $80. That's a 20% drop in an investment @Saylor promoted as safe, with near-zero volatility. At that price, the current yield for new buyers is 14.4%. Clearly, investors don't believe the dividend is sustainable and expect it to be reduced or suspended.

It's true that I never bought into the Bitcoin narrative, but I always respected the views of those who disagreed with me and their right to express their opinions. But I drew a line with @Saylor defrauding investors with his $STRC Ponzi scheme and those who covered for him.

Saylor promoted $STRC to risk-averse retirees by assuring them that all the volatility had been stripped out. STRC is down over 5% today, more than 17% below what many retirees paid last month. Almost two years of dividends gone. @Saylor clearly made material misrepresentations.

Even if the Fed is serious about bringing inflation down to 2% with aggressive rate hikes and QT, once the stock market accepts that and crashes, the Fed will do a 180. A stock market crash, plus a real estate crash, threatens not only a recession but another financial crisis.

If precious metals traders are right about how aggressive the Fed will get to crush inflation, the stock market should be crashing. If stock traders are right that the Fed is more bark than bite when it comes to rate hikes, gold prices should be soaring. They both can't be right.

Gold traders are pricing in aggressive rate hikes, but stock investors appear to still be pricing in cuts. The latter may be correct, but not because rate cuts are appropriate, but because they will be a political necessity. Those cuts will be more bullish for gold than stocks.

Gold is below $4,050. A dip below $4K is likely, but not worth the wait. Silver is below $60. Traders are pricing in rate hikes that may never happen. But even if they do, it will be too little, too late to slow inflation, which will rise more than rates. That's bullish for gold. Gold just traded below $4,000. An even better buy. Silver is down to $58.60

If short sellers push $MSTR's price low enough, they can put @Saylor in a position where his best option would be to sell Bitcoin to buy back stock. That would reduce the discount, but it may not raise the share price, as Bitcoin will crash. That's the box Saylor put himself in.

Bitcoiners claim Bitcoin is cheap. Cheap relative to what? Maybe relative to its bubble high, but not relative to its historic lows. With no earnings, yield, book value, or productive use, Bitcoin has no valuation anchor. “Cheap” just means buyers hope a greater fool pays more.

@DannySnark91749 What's new is all the debt and preferred shares outstanding. Plus, the fact that the big Bitcoin rally is now in the past, not in the future changes the game.

Bitcoiners are way too complacent. $MSTR, the biggest Bitcoin owner and its bridge to Wall Street, is collapsing. Shares are down 80% from the peak, 20% in just the last five days. Its flagship preferred $STRC is down nearly 13%, "yielding" 13.2%. Bells don't ring any louder!

Gold and silver have gotten caught up in Warsh's tougher-than-expected talk on inflation fighting. But when it comes to actual inflation fighting, talk is cheap. The Fed's actual actions won't match Warsh's words. In fact, Warsh will choose inflation just like his predecessors.

REITs don't need Bitcoin to cover maintenance, repairs, or capex. REITs deduct operating expenses before calculating taxable income, and depreciation reduces the income they’re required to distribute. @GrantCardone is wrong. Bitcoin doesn’t solve a REIT problem — it creates one!

$SPCX's current float is tiny, which drove the initial pop. But by Dec. 8, the float could rise from about 640 million shares to 7.5 billion — nearly 12x larger. That’s a massive supply overhang for a stock priced for perfection and already falling. Houston we have a problem.

Only five Republicans and no Democrats in the U.S. Senate stood up for property rights and voted against the Housing Bill, which places government restrictions on the right to buy, own, and sell property. The bill is unconstitutional. Hopefully, it's challenged and struck down.

$SPCX fell 16.5% today. On paper, @elonmusk lost about $150 billion, more than Warren Buffett's entire net worth. However, he's still the world's only trillionaire, so don't feel sorry for him.

The London Whale cost JPMorgan $6.2B, one of the biggest losing trades ever recorded. $MSTR is already sitting on a $10B paper loss on its Bitcoin trade. But by the time it's closed out, @Saylor will shatter the record and book the biggest losing trade in history.

Alan Greenspan, the architect of the 2008 financial crisis and author of the playbook that all successive Fed chairs followed, died today at age 100. Even that ripe old age didn't allow him to live long enough to see the final economic crisis his policy mistakes made inevitable.

Iran Won the War, Adam Schiff Wants Your Money, and Japan Is About to Blow Up https://t.co/SNO14xPrO9

Despite Bitcoin's 2.5% rise, $MSTR is down 2.5%, increasing the discount. That means if MSTR sells more discounted shares to buy Bitcoin, the loss to shareholders will be even greater. Maybe shareholders are finally wising up and selling rather than waiting to be sacrificed.

Iran Won the War, Adam Schiff Wants Your Money, and Japan Is About to Blow Up. New podcast out now! https://t.co/HJU8DEEsdv https://t.co/HJU8DEEsdv

U.S. Senator @SenAdamSchiff thinks people get rich not by working hard or adding value, but because of a flawed tax system that doesn't prevent it from happening. In his mind, wealth comes from government and consumer spending, not savings and capital investment. What an idiot!

U.S. Senator @SenAdamSchiff is a communist. He thinks confiscating investment capital from the rich to fund government spending and consumption will raise the living standards of average Americans. This false promise has impoverished nations everywhere it’s been implemented.

Combining real estate with Bitcoin solves nothing. @GrantCardone claims REITs need Bitcoin on their balance sheets to sell so they can pay for repairs and maintenance. But real estate throws off rental income, which can be used to cover those ongoing costs. Happy to debate this.

Juneteenth Isn't What They Told You https://t.co/tshSN2UfEk