BitGold’s Biggest Deficiencies: Peter Schiff, Part I

by Jeff Nielson
Bullion Bulls Canada

Readers of these commentaries are used to seeing original work. While sources are cited (for reference purposes) to substantiate the analysis contained in these pieces, the analysis itself is always original. Why, then, base a critique of BitGold primarily on the observations of Peter Schiff? Because Peter Schiff has now entered into a business partnership with BitGold, a mere four months after producing a scathing audio clip, where he articulated numerous issues with this company and its business model.

First, it will be helpful to lay out the chronology to readers. On March 22nd; Schiff published an article entitled BitGold’s Secret: A Taxation Time-Bomb. He started off with the inflammatory statement that he was “warning potential gold-buyers about another gold ripoff.” He stated of BitGold that “their real intention is to deceive investors”, and referred to some of their marketing claims as being “grossly misleading.”

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