The Unlikely Duo Rethinking Wearable Technology

Why did a surgeon and Snap exec team up? They saw the missing ingredient in the $84T wearables market: behavior. So they built Emteq and invented smart glasses sensors to track real-time expressions, unlocking insights into why we do things. With a $15M term sheet already secured, Emteq is what Big Tech's missing.

Peter Schiff Warns Investors Against Keeping $20K In Cash: 'One Of The Riskiest Bets You Can Make'

Benzinga Neuro
October 24, 2024

Prominent economist Peter Schiff cautioned investors against holding cash as a long-term strategy, warning of significant purchasing power erosion amid growing inflation concerns.

What Happened: The outspoken financial commentator and Bitcoin (CRYPTO: BTC) skeptic responded to an X user who expressed anxiety about investing their $20,000 savings, stating, “I think investing in cash is one of the riskiest bets you can make. You may not lose any money, but your money will lose most of its purchasing power.”

Schiff’s remarks came as part of a broader discussion about U.S. Treasury yields and monetary policy. He noted that while 10-year Treasuries were yielding 4.25%, he anticipates higher yields due to mounting national debt and expanding budget deficits.

“When the economy officially enters the next recession, prepare for the biggest QE program yet!” Schiff wrote on X, referring to potential future quantitative easing measures by the Federal Reserve.

See Also: Elon Musk Shuts Down Traditional Tesla $25K EV Rumors, Calls It ‘Pointless’ As Company Focuses On All-Autonomous Future: ‘Yeah. It Would Be Silly’

Why It Matters: Schiff’s recent comments align with his previous warnings about the U.S. dollar’s vulnerability. In August, he predicted the dollar’s potential collapse due to rising rate cut bets, which have negatively impacted the currency. He noted that the U.S. dollar index had fallen to its lowest level since late 2023, suggesting further weakness ahead.

Schiff has also been vocal about his skepticism toward Bitcoin, arguing that it lacks intrinsic value and is destined to fail. He has consistently contrasted Bitcoin’s digital nature with the physical properties of gold, which he advocates as a more stable investment.

In September, Schiff criticized investors for choosing Bitcoin ETFs over gold ETFs, claiming they bet on the wrong horse. Despite substantial inflows, Bitcoin ETFs underperformed compared to gold ETFs, reinforcing his belief in gold’s superiority as an investment.

Read Next:

  • Bitcoin, Ethereum, Dogecoin Sink Amid Stocks Decline, Treasury Yields Climb: Analyst Sees ‘Promising Signs’ — Retest ‘Successful’ If King Crypto Stays Above This Level

Image via Wikimedia

This story was generated using Benzinga Neuro and edited by Kaustubh Bagalkote

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