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The Peter Schiff Show Podcast

CNBC dismisses Citi’s $2k gold call and pumps Bitcoin instead – Ep 534

The Peter Schiff Show Podcast

Peter Schiff

Business News, Business, Investing, News, Politics

4.65.9K Ratings

🗓️ 21 February 2020

⏱️ 53 minutes

🧾️ Download transcript

Summary

Liz Claman has a new podcast called “Everyone Talks to Liz Claman.” It’s a great show and I was on it earlier this week where I talked about growing up, some personal stories, and things you haven’t heard me talk about in other interviews. I highly encourage you to check out the episode here.

Coronavirus continues to help the dollar, but is helping gold even more. Gold’s bull market continues upward as more countries see their currencies lose record value to gold.

Citibank calls for $2k gold within 1-2 years. CNBC dismisses the call as an unimpressive 25% gain and pumps bitcoin instead.

Gold may be the best hedge against the stock market. Gold ETFs have accumulated a record amount of gold in storage.

Gold is up 60% in the past 4 years. Get your gold and silver BEFORE the big moves start happening.

* The best way to own physical gold is by purchasing it from SchiffGold.
* The best way to own gold jewelry is by purchasing from Menet jewelry. If you bought some when I first promoted it, you could trade it in for MORE gold than you originally purchased.
* If you want to see more of a return on gold’s climb, buy the Euro Pacific Gold Fund (EPGFX)

 

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Transcript

Click on a timestamp to play from that location

0:00.0

I want to start off today's podcast by encouraging my audience to listen to another podcast that I recorded a couple of days ago with Liz Claiming.

0:19.0

And the name of her podcast is everyone talks to Liz and you can listen to it.

0:25.0

I guess anywhere that there are podcasts wherever you're listening to my podcast, you can just search for Liz Claiming and you'll see everyone talks to Liz or you can find the website Liz Claiming is an anchor on Fox Business.

0:38.0

And as a couple of reasons why I really want to encourage everybody who's listening to my podcast and going listen to to this podcast.

0:46.0

First of all, it was a very unique kind of interview that I did with Liz. It was more of a personal interview of kind of my history growing up, my dad.

0:56.0

I mean, if you don't know Liz and I went to high school together, so I've known her for almost 40 years.

1:03.0

So I think that if you listen to the interview, you'll probably hear some things or learn some things that I don't typically talk about on this podcast or in other interviews.

1:11.0

So it's definitely worth a listen. But also, you know, I'd like to really drive up the view count for this particular podcast, you know, Fox Business is one of the only networks or maybe the only network really that still has me on in the mainstream.

1:30.0

I used to be on a lot of the cable news networks years and years ago, but pretty much the last couple of years, it's really only been Fox Business and predominantly Liz.

1:41.0

And that's because we're friends and so she kind of pushes to have me on. But what I want to do is I want to kind of show Fox the benefits of having me on because they can see the type of audience that I can bring to their programming.

1:57.0

So they watch all these podcasts. And so if they see that everyone talks to Liz, she does a podcast with me and then her numbers are off the charts because we set a record for the number of people who actually listen to the podcast.

2:11.0

And I send a message to their ratings hungry producers that they need to have Peter shift on Fox Business and maybe even Fox News. It's been years and years since I was actually on Fox News, you know, I'm on, you know, their sister company Fox Business, which is a much smaller one. Now I did tape, by the way, I did tape. Finally, the episode I mentioned with Tucker Carlson, they still haven't aired it.

2:37.0

So hopefully they will, but you know, it's been a while and you know, I'm starting to get a little worried. Maybe they'll think the interview is too stale and they won't run it.

2:46.0

But I want to show the people over there that I have an audience, you know, that I have something to bring to the table to the extent that they have me on. Well, maybe more people will actually watch the shows because I'm there.

2:58.0

I mean, I think I am a pretty entertaining guest that I know I'm good for ratings, even if it's not my own fans who were tuning in. But for now, I think that if you go and listen to this interview that I did, you'll enjoy the interview, but will also be showing the people at Fox that if you have Peter shift on your programs, you can get a much bigger audience. And that's what it's all about. It's about ratings and selling advertisement.

3:21.0

So if they know that Peter shift is good for ratings, well, then maybe they'll have Peter shift on a little bit more often. But right off the bat, let's start talking about gold and the bull market continuing in the price of gold.

3:35.0

We traded above $1,620 an ounce today. It looks like right now as I'm recording this a little after the close of the US stock exchange. We're up about $8 at $1,619.

3:50.0

The US dollar was a bit stronger again today. The dollar index closed at 99 spot eight nine. So almost all the way back to a hundred. Part of that was driven by some positive or better than expected economic numbers that came out earlier this morning.

4:08.0

Philly Fed came out much stronger than expected as did the leading economic indicators. But again, the whole, you know, coronavirus and all of the concerns surrounding that have been working to the dollars advantage in that more of the aggressive monetary easing in response to the virus has been taking place outside the United States.

4:31.0

And so that has been benefiting the dollar. But as I've been saying, it's been benefiting gold even more. So even though we're at a new seven year high in the price of gold in dollars, we are hitting record high after record high in terms of other currencies.

4:49.0

So that means that people in just about every country in the world when they are looking at the price of gold in their own currency, they are seeing prices that have where gold has never traded in history.

5:02.0

It keeps making new all time record highs, which obviously is a very, very powerful signal that they should be buying gold because gold is measuring the loss of purchasing power of their currencies.

...

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