Cat 2k Hurricane Goldie blows through Comex – Ep 599
The Peter Schiff Show Podcast
Peter Schiff
4.6 • 5.9K Ratings
🗓️ 4 August 2020
⏱️ 41 minutes
🧾️ Download transcript
Summary
New thousand dollar milestones will start dropping like dominos.
https://www.instagram.com/stories/peterschiff/2368614209700051718/
GDX makes a new high for the year.
Crashing dollar will leave many broke millionaires.
Fed codifying commitment to reckless money printing and endless inflation.
16 year olds lip-syncing is not a national security threat.
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Transcript
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| 0:00.0 | Well, today on Tuesday, August 4th, the price of gold, spot gold, finally traded above |
| 0:17.0 | $2,000 US dollars per ounce for the first time in history. |
| 0:22.6 | We were up about $40 an ounce today. |
| 0:26.2 | We closed just over 2017 for one ounce of gold. |
| 0:32.0 | Silver also had a big day. |
| 0:34.1 | Up better than a dollar and a half, we came to it with a few cents again of the $26 mark |
| 0:40.6 | where at $25.90 and change as I am recording this podcast. |
| 0:47.1 | We had been above $26. |
| 0:49.1 | I think it was one night last week. |
| 0:51.9 | The gold did not get above $2,000 at that time. |
| 0:55.5 | It did it for the first time today. |
| 0:57.4 | In fact, the first moment earlier this morning when gold peaked its head above $2,000, it immediately |
| 1:04.6 | got whacked and it dropped about $5,6,7 bucks. |
| 1:07.8 | I forget instantly. |
| 1:08.8 | There was a big sell order that came in as soon as gold printed above $2,000, which again |
| 1:16.5 | is exactly what I like to see in a bull market is all of this nervousness, all of this skepticism |
| 1:23.6 | because here we have a new milestone. |
| 1:26.6 | We have $2,000 gold. |
| 1:29.4 | We break through it and the very first action that traders take, right? |
| 1:35.5 | The first thought is, oh, I got a sell. |
| 1:37.7 | I got a sell 2,000 gold. |
| 1:40.2 | Instead of wanting to buy the breakout, they want to sell the high print. |
... |
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