Black Friday Leaves Investors Black and Blue – Ep 755

The Peter Schiff Show Podcast

Peter Schiff

Business, Politics, Business News, Investing, News

4.7 • 5.8K Ratings

🗓️ 27 November 2021

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

* Covid crashes market again with new Omicron Strain.
* Dow suffers its worst drop since Covid lockdowns started.
* Investors choose Euro and Swiss Franc over US Dollar as safe haven.
* Markets begin pricing out rate hikes that they previously priced in.
* Smart money dumps crypto while dumb money buys the dips.

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Transcript

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0:00.0	I'd like to thank True Nige in for supporting my podcast.
0:12.5	True Nige in helps fuel the cell's energy engines, maintain cellular metabolism, and even
0:18.7	supports a healthy heart in combination with a healthy lifestyle.
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0:28.6	code Peter.
0:29.6	These statements have not been evaluated by the Food and Drug Administration.
0:33.4	This product is not intended to die in the street cure or prevent any disease.
0:37.4	It may have been a black Friday for retailers, but it was a black and blue Friday for investors
0:43.6	who got beaten up pretty badly on Wall Street.
0:47.4	Just about anything you owned was down on Friday.
0:52.1	In fact, the Dow suffered its worst drop since April of 2020.
0:57.9	And of course back then we were in full COVID and everything was falling apart.
1:03.4	And once again, the catalyst for yesterday's decline was a new COVID variant.
1:09.7	This one coming out of Africa, most specifically South Africa, although I think there's some
1:15.1	other countries but swana had a few cases.
1:18.0	But South Africa seems to be the focal point.
1:21.7	Last I read, maybe they had 100 cases.
1:23.7	Probably more by now, a lot of countries have already quarantined flights coming in from
1:31.6	South Africa.
1:32.6	No more flights allowed from that nation.
1:35.5	They're trying to contain the spread.
1:37.3	And actually they also have a case in Hong Kong.
	...

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