Peter Schiff

Funny how @APompliano just went on @CNBC to make the case for Bitcoin, but touted the track record of gold instead. The fact that gold outperformed the S&P in the past has no relevance to Bitcoin, as Bitcoin is not gold. But don't expect @JoeSquawk to understand the difference.

A weak U.S. economy is taking its toll on Americans. Q1 GDP grew a mere 1.6%, while the savings rate plunged to just 2.6%, as higher prices, higher interest rates, and stagnant incomes forced consumers to dip into their meager savings to make ends meet. The Trump boom is a bust.

$MSTR did not really buy back convertible bonds at a bargain. Strategy prepaid a zero-interest loan two years early at roughly present value. The so-called 8% discount reflects the time value of money. @Saylor reduced debt, but gave up free financing and burned badly needed cash.

$MSTR spent $64B buying Bitcoin over the past five years. But as of today, its total return is negative. The entire premise upon which the $STRC Ponzi is built is the expectation that Bitcoin will appreciate by 30% per year, allowing MSTR to afford to pay STRC shareholders 11.5%.

Stocks rose again today, yet Bitcoin fell. If Bitcoin is this weak when other risk assets go up, imagine how much weaker it will be when those assets go down. For more than five years, $MSTR has spent $64B buying Bitcoin. Yet the current market price is barely above its cost!

With the defeat of @RepThomasMassie , the U.S. has sent a clear message to the global bond markets that the we will never get our fiscal house in order. Get ready for a bond market crash, soaring interest rates, and runaway inflation, as our creditors bail out in droves! Got gold?