HEX founder Richard Heart and Chief Economist Peter Schiff had a debate last Wednesday. The two discussed in length the prospects of cryptos, gold, stocks, global finance, and the economy in general. The debate was called ‘The Ultimate Cryptocurrency Showdown’ and lots of fireworks between the two were exchanged. However, despite disagreeing on the majority of things, the duo agreed only on 3 topics and remained on the same side of the aisle.
Here are the 3 policies on what Richard Heart and Peter Schiff agree on:
1. The Government Printing Money Steals From People who ‘Save’
Both Heart and Schiff agree that the government printing billions and trillions of dollars do more harm than good to people. It steals from people who ‘save’ in the form of rising inflation and decreases their purchasing power a few years down the line.
The value of their money eventually goes downhill as inflation eats up their savings. The ‘interest’ received on savings will eventually be drained out by spending more money on a particular product.
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2. People should Hold their Own Wealth
Heart and Schiff agreed that the Canadian government freezing the crypto accounts of the truckers ‘Freedom Convoy’ is wrong. The duo agreed that people should be able to hold their own wealth and government intervention in people’s finances is wrong.
For the uninitiated, the Justin Trudeau administration sanctioned 34 crypto wallets connected to the truckers that received donations. The truckers are unable to withdraw both fiat currency and cryptocurrency after the sanctions came into place.
The Canadian truckers are against vaccine mandates and their initial GoFundMe page was taken down. Therefore they sought to receive donations through cryptos but the government blocked all ways to receive funds.
PM Justin Trudeau deemed the protests as illegal and cited the Emergencies Act. This is the first time the law is being put in place since it was passed in 1988. It gives authorities power to investigate anti-money laundering/anti-terrorist financing rules.
Read Also: Richard Heart Wins Black Carat Diamond Worth $4.3 Million at Sotheby’s Auction
3. Inflation is Bad
Schiff and Heart agreed that inflation is a bad thing and the government isn’t doing much to stop it.
The duo believed that inflation is the cause for poor people to remain poor, despite their best efforts to come out of poverty. Inflation eats up their money, in the long run, leaving people with little or no savings in hand.
Read Also: Exclusive: HEX’s Richard Heart Comes out in Support of the Canadian Truckers ‘Freedom Convoy’
Watch the full debate between Richard Heart and Peter Schiff below.