During bad times, a good Fed Chair is not popular – Ep 585
The Peter Schiff Show Podcast
Peter Schiff
4.6 • 5.9K Ratings
🗓️ 20 June 2020
⏱️ 51 minutes
🧾️ Download transcript
Summary
Dollar and Bitcoin bottoms ready to drop from under them.
Real estate sales masking underlying weakness in market.
Trump is the Republican Jimmy Carter.
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Transcript
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| 0:00.0 | The Peter Ships Show. |
| 0:09.0 | I think the action in the stock market and in the gold market yesterday potentially is |
| 0:15.8 | telling as to the future course of both markets. |
| 0:21.0 | I know there may be some people that want to dismiss yesterday's action because of the |
| 0:26.2 | quadruple exploration of various options and futures contracts. |
| 0:31.7 | This is an event that happens in the markets every quarter. |
| 0:35.3 | But I think beneath the surface, I think the market action actually is telling you potentially |
| 0:42.0 | that we have exhausted this bear market rally in the stock market. |
| 0:47.6 | One point I think that Dow was up about 400 points, maybe a little bit more, yet we closed |
| 0:54.3 | down about 200 points. |
| 0:56.1 | A little bit off the lows. |
| 0:57.4 | I think the lowest I saw was down a little over 300. |
| 1:01.4 | But the sell off I think poor tens, a much bigger sell off coming. |
| 1:06.9 | And in fact, in the morning, everything was up. |
| 1:09.6 | It wasn't just the stock market that gaped higher, gold gaped higher, gold stocks gaped |
| 1:14.6 | higher. |
| 1:15.6 | But while the overall stock market surrendered the rally, although the NASDAQ did manage |
| 1:22.1 | to finish in the black, all the other indexes were negative. |
| 1:28.4 | But while stocks in general gave up their early morning gains, gold did not. |
| 1:33.6 | I mean, they tried to sell gold off a couple of times, but it didn't happen. |
| 1:38.7 | So gold closed very close to the highs of the day. |
| 1:42.5 | I mean, off by a few dollars, but still up about $20. |
... |
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