The commentary below is from Peter Schiff, Chief Economist and Global Strategist of Euro Pacific Capital and author of the The Real Crash: America’s Coming Bankruptcy. Please feel free to excerpt what you like with proper attribution. To speak with Peter, please contact Andrew Schiff at 203-662-9700 ex. 135 or firstname.lastname@example.org.
On Sesame Street they teach the basics: how to count, how to spell, and how to make good decisions. Through a slight alteration of a classic 3 minute bit with Ernie (Burt’s easy going roommate), well known economist Peter Schiff teaches a valuable lesson about the perils of slick salesmanship and trading away money for nothing. In the original sketch, Ernie is scammed into buying air in a bottle by Lefty, the neighborhood con-puppet. Peter re-released the clip with one important change – he substitutes the word “air” for “bitcoin.” The result is a hilarious and pot-stirring perspective that’s sure to get people talking and who knows, maybe even thinking. Bitcoin enthusiasts will object that air and bitcoin are fundamentally different. Try explaining that to Ernie.
Best Selling author Peter Schiff is the Chief Economist and Global Strategist of Euro Pacific Capital. His podcasts are available on The Peter Schiff Channel on YouTube.