Peter Schiff doubts Cryptocurrencies and Bitcoins rise and lack of regulation explains the rise in price of this new money laundering method of payment

Troy York
 The disturbing rise and investment of Bitcoin as transactions should be alarming as hell as it is giving money launderers new ways to hide hoarded money and make payments free form banks and government control.Peter Schiff can't believe it and he has watched with amazement as the price of Bitcoin has risen from the tsart of the year form a price of 1000 to a peak of 19000 a week ago before settling at the current price of 15000.  Peter "the prick" Schiff says ultimate there is no value in bitcoin and if its worth 8000 or 80000 is regardless but Schiff says long term investors will lose everything in this new payment method of the one percent. In the meantime greedy investors have helped rise the value of this crytpto fake currency some one thousand percent and eventually government and the law needs to stop this illegal practice and new successful way for the ultra-wealthy to be able to avoid detection of how they are spending their money.

Rich people are buying this shit like crazy as they fear and hope this crypto currency can help them avoid the detection of hidden money but the real joke may be on them and maybe some of these crypto currencies are set up by governments and eventual ways to trap these fraudsters casino type funneling of hoarded money by the capitalist class wishing to play with the money instead of investing and putting it back into the economy for real production and job growth and creation. . Peter Schiff says shit head investors are drunk like a skunk on kool aid for this new technology that ultimately  will see the super rich soaked of their funds and investment with the click of a button as there is no paper, no currency, no transaction and these stupid shits putting so much deniro into this investment makes no sense.

While the value of this fake pretend currency has risen in the search for more people to join this ponzi scheme for now ultimately like a deck of cards the stack will be turned and dropped on this silliness and Peter Schiff as hedge fund manager of Euro-Pacific has seen this shit before. Governments are going to have to act profusely and step in before many millions of people lose millions in this swindle and it appears South Korea is making the first major step and indeed many major legitimate crypto companies wish for this to happen as they know the full potential of mass fraud that can be committed through this avenue. As far as Peter Schiff know his Euro-Pacific funds are safe as he knows full well what bullshit this crypto-craze is and how it is all an upcoming scam and bubble for many