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The Peter Schiff Show Podcast

Everything Is Awesome Because the Fed Says so – Ep 708

The Peter Schiff Show Podcast

Peter Schiff

Business, Politics, Business News, Investing, News

4.75.8K Ratings

🗓️ 27 June 2021

⏱️ 47 minutes

🧾️ Download transcript

Summary




* Bond market sells off for opposite reason it rallied a week prior.
* Institutions are not rushing in to buy #Bitcoin.
* Huge Socialist agenda moving forward using #covid as the excuse.
* #Biden vows to grow government and use it against entrepreneurs and small business owners.
* We’ve barely begun to pay the piper for all the inflation the Fed has created.





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Transcript

Click on a timestamp to play from that location

0:00.0

I'd like to thank True Nijin for supporting my podcast.

0:13.1

True Nijin fuels the body's energy engines, maintains cellular metabolism, and even supports

0:20.1

a healthy heart.

0:21.6

And now you can get 10% off your first purchase as a new customer at TrueNijin.com slash

0:28.5

Peter using promo code Peter.

0:31.5

These statements have not been evaluated by the Food and Drug Administration.

0:35.6

This product is not intended to diagnose, treat, cure, or prevent any disease.

0:41.0

Well, all of the US stock market index has finished higher on the week.

0:46.8

In fact, the S&P 500 closed the week at a new all-time record high at a 2.7%.

0:55.4

This is a big reversal from the prior week where the S&P dropped almost 2%.

1:02.3

And the big difference between last week and this week was last week everybody was worried

1:08.7

that the Fed was going to fight inflation.

1:11.2

This week they're not worried that the Fed is going to fight inflation because they

1:14.6

don't think there's any inflation to fight because they pretty much have decided that

1:19.8

the Fed is right and that inflation is transitory.

1:24.1

And because inflation is transitory, the Fed is not going to have to do anything about

1:30.0

the inflation.

1:31.0

Yes, interest rates will eventually rise slightly, who knows when, a monetary policy will not

1:37.2

be quite as easy as it is now.

1:40.2

But the Fed is never going to really have to slam on the break because there is no inflation,

1:45.1

problem either now or on the horizon.

1:47.7

Sure, prices are moving up now, but it's nothing to worry about because it's all transitory.

...

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