Did Global Financial Markets Just Decouple? – Ep 641
The Peter Schiff Show Podcast
Peter Schiff
4.7 • 5.8K Ratings
🗓️ 5 January 2021
⏱️ 54 minutes
🧾️ Download transcript
Summary
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Rare dichotomies playing out in the markets - something big is happening.
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Dollar continues to fall against the Yuan.
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Institutional money is flocking to real commodities, not Bitcoin.
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Connecticut passes idiotic new law giving workers 3 month yearly vacations.
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Transcript
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| 0:00.0 | The Peter Shifchow. |
| 0:09.2 | Today's episode of the Peter Shifchow Podcast is sponsored by NetSweet, the business management |
| 0:14.7 | software that handles every aspect of your business in an easy to use cloud platform. |
| 0:20.2 | You can schedule your free product tour right now at netsweet.com slash gold. |
| 0:26.3 | Well happy new year everybody and welcome to the first podcast of the new year and I |
| 0:31.7 | don't think that 2021 is going to turn out anything like anybody expects. |
| 0:39.1 | I mean, first of all, if you look at the action that we had today on the first trading |
| 0:46.0 | day of the new year, this is a very atypical day. |
| 0:50.2 | It's very rare to see some of the dichotomies that played out today in the US stock market. |
| 0:57.5 | First of all, the market started positive on the day and then sold off pretty hard. |
| 1:04.2 | There wasn't any actual news driving the sell off other than just the fact that people |
| 1:09.4 | were selling the down made a new record high 30,67428 before closing down one and a quarter |
| 1:17.8 | percent down 382 points. |
| 1:21.3 | All of the major index is doing the same thing. |
| 1:24.2 | The S&P setting a record and then closing down almost one and a half percent. |
| 1:29.7 | The NASDAQ not quite a new record. |
| 1:32.1 | It was positive on the day, but then it was also down about one and a half percent. |
| 1:36.7 | Same thing with the Russell 2000 up in the morning closing down about one and a half percent. |
| 1:42.1 | The well off the day is low. |
| 1:44.0 | The Dow at one point was down well over 600 points. |
| 1:47.2 | So maybe cut its losses in half. |
| 1:49.8 | But the significance is not just what happened to the US stock market, but what happened to |
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