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The Peter Schiff Show Podcast

Dollar Breakdown Confirms Lower Inflation Is Transitory - Ep 907

The Peter Schiff Show Podcast

Peter Schiff

Business, Politics, Business News, Investing, News

4.75.8K Ratings

🗓️ 16 July 2023

⏱️ 57 minutes

🧾️ Download transcript

Summary

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Transcript

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0:00.0

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0:38.8

First thing I want to talk about, I think the most significant development during the

0:44.3

week, at least from the perspective of the market, was the weakness in the US dollar.

0:50.5

When I talked about that on my last podcast, but the dollar weakened considerably in the

0:58.7

two days following that podcast.

1:00.9

And in fact, the dollar closed about the low of the day on the Wednesday when I recorded

1:06.2

that podcast earlier in the day.

1:08.4

And again, this was in reaction to the better than expected consumer price index that came

1:16.6

out on Wednesday.

1:18.9

We actually got better than expected PPI data as well on Thursday.

1:24.7

So that likely helped weaken the dollar.

1:27.4

Again, this is all counterintuitive, ironic that the dollar losing less purchasing power

1:34.8

than anticipated means that the dollar loses its purchasing power on international markets.

1:41.8

You would think it'd be the opposite.

1:43.9

But I've explained for many reasons why this is the case.

...

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