Biden’s Plan Will Weaken Economy & Lessen Opportunity – Ep 673

The Peter Schiff Show Podcast

Peter Schiff

Business, Politics, Business News, Investing, News

4.7 • 5.8K Ratings

🗓️ 1 April 2021

⏱️ 53 minutes

🔗️ Recording | iTunes | RSS

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Summary

* Treasury bonds creep higher to new post-Covid highs.
* Gold sellers are not Bitcoin buyers.
* Market has been buying Fed’s bluffs.
* Ferocious moves in gold ahead.
* Covid is incomparable to the tragedies of war.
* Biden takes a stake to the heart of capitalism.
* The middle class was created by capitalism and destroyed by government.

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Transcript

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0:31.6	Well yields on US Treasury bonds continue to creep higher, hitting new post-COVID highs.
0:38.0	In fact, the yield on the 10 year closed today at the highest yield of the move, 1 spot
0:44.7	746, 30 year yields though not quite at a high at 2 spot 425.
0:51.9	I'm noticing that the spread continues to narrow between the 10 year and the 30 year bond.
1:00.3	I think this is an aberration.
1:02.5	I think at some point soon you're going to start to see these spreads widening out again.
1:08.8	In fact, that may coincide with the next major up move in gold and silver and down move
1:16.4	in the dollar.
1:17.4	What's happening right now is these rising bond yields continue to support the US dollar
1:24.4	and put continued downward pressure on the price of gold and silver.
1:29.4	In fact, both gold and silver got beaten up pretty badly on Monday and Tuesday before
1:35.8	recovering a good chunk of those losses today.
1:39.2	In fact, gold retaking the 1700 level.
1:42.9	We were down I think around 1680-ish yesterday.
1:46.5	We closed today at 1708 up about $23 on the day.
1:51.4	Silver back above $24, closing at $24.41.
1:56.4	It had dipped below it yesterday.
	...

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