- Peter Schiff is back at it again, accusing the IRS of playing a game of “Pin the Tax Evasion on the Bank!” 🎯
- And guess what? He’s convinced Bitcoin is about to take a nosedive faster than a lead balloon! 🎈💥
In the midst of financial chaos and regulatory shenanigans, our favorite Bitcoin critic, Peter Schiff, has taken to X (formerly Twitter) to unleash his skepticism about the leading cryptocurrency. It’s like watching a magician pull a rabbit out of a hat, except the rabbit is a tax evasion scandal! 🐇🎩
His latest outburst comes while he’s embroiled in a legal circus over his now-defunct Euro Pacific Bank, which got shut down faster than you can say “regulatory scrutiny!” 🎪
Peter Schiff vs. the IRS: The Showdown!
Schiff has accused the U.S. Internal Revenue Service (IRS) and “The New York Times” of conspiring like a couple of cartoon villains to falsely link his bank to tax evasion and money laundering. Cue the dramatic music! 🎶
He exclaimed,
“The criminals working at the IRS just produced another 38 pages of documents they claim to have overlooked. Thirty-one of those pages were illegally redacted in their entirety. It’s like they’re playing hide and seek with the truth!” 🕵️♂️
Schiff is doubling down, claiming the IRS is targeting his innocent bank while “The New York Times” spins a yarn of tax evasion and money laundering. It’s like a bad soap opera, folks! 📺
To fight back, Schiff has filed a defamation lawsuit against both entities, arguing that the investigation was politically motivated under Biden’s watch, while the cover-up is now a Trump production. Talk about a political thriller! 🎬
He’s even called for a Congressional inquiry, insisting that the IRS’s antics reflect deep-seated corruption that needs urgent oversight. Where’s the popcorn? 🍿
“Where are the checks and balances? If the Executive Branch commits crimes, Congress needs to take action to stop it. What about Trump? He also wants to eliminate corruption in the Executive Branch. So why not look into these crimes?”
Schiff Takes a Swing at Bitcoiners
In a twist of fate, a user on X accused Schiff of attacking Bitcoin holders every time the market dips. Oh, the drama! 🎭
Unfazed, Schiff defended his position, claiming his concerns go beyond individual losses. He believes Bitcoin is not just a speculative bubble but a dangerous trap, luring investors into a collapse that’s more inevitable than a bad sequel! 🎥
According to Schiff, the real question isn’t if the Bitcoin bubble will burst, but when it will go kaboom! 💣
He stated,
“As far as Bitcoin is concerned, I believe it is doing substantial harm. The longer the bubble goes on, the more damage that will be done and the more people that will be harmed. So yes, I’m happy when the price goes down, as that means we are getting closer to the end of the con.”
And just when you thought it couldn’t get any better, an X user replied,
What’s More? The Plot Thickens!
Recently, Schiff doubled down on his skepticism, claiming Bitcoin is in a “stealth bear market” when measured against gold. It’s like a bear in a tuxedo—sneaky and ready to pounce! 🐻🎩
With BTC now fetching 24% fewer ounces of gold than at its 2021 peak, his argument is gaining traction faster than a speeding bullet! 💨
In fact, Bitcoin’s struggle to maintain momentum has triggered a wave of liquidations, wiping out $93.2 million in positions—most of them long bets. Ouch! 💸
So, as Bitcoin hovers around $83,526.36, its rollercoaster ride continues to fuel heated debates between critics like Schiff and die-hard believers in its long-term value. Buck
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2025-03-17 17:16