Fed Gives Treasury a Blank Check – Ep 656

The Peter Schiff Show Podcast

Peter Schiff

Business, Politics, Business News, Investing, News

4.7 • 5.8K Ratings

🗓️ 11 February 2021

⏱️ 57 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

* Pot stocks were blazing today after getting smoked last year.
* Big action in platinum may be the start of bigger action in precious metals.
* Oil prices make new post-covid highs.
* Signs point to a possible peak in MicroStrategy’s stock.
* Jerome Powell encourages the government to get into a deeper hole.
* Puerto Rico would be one of the biggest losers of the minimum wage.
* Virtue signaling is harming the poor and minority communities.

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Transcript

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0:00.0	I like to thank Ladder Life Insurance for supporting the Peter's Shift Show podcast.
0:14.1	Ladder makes it quick and easy to get covered for life insurance.
0:17.3	To lock in your best rate today and get your family covered with Ladder, go to LadderLife.com
0:23.5	slash gold.
0:25.1	We did have a relatively quiet day in the overall markets today with the exception of
0:31.0	the pot stocks.
0:32.3	They were on fire today in part because of the reddit raiders now putting their attention
0:38.9	on the cannabis industry.
0:41.1	Also of course there are some fundamentals to support this trade.
0:45.3	Number one, these stocks really got smoked last year.
0:48.3	They got beat up.
0:49.3	So a lot of these stocks, I think, represented pretty good speculative value.
0:53.6	But also you've got the prospects of a democratic congress and a democratic president
0:59.8	finally legalizing marijuana at the national level, which would be a huge benefit for
1:06.8	this industry because they've really been struggling with the fact that it is illegal,
1:11.6	co-pokets, banking and all sorts of businesses related to cannabis.
1:15.3	So clearly that would be a big positive for the industry.
1:18.7	Now of course I don't recommend when people buy stocks just rushing into the market
1:23.4	and just buying.
1:24.4	I mean if you look at some of these stocks, Tilray for example, I think was the biggest
1:29.0	gainer on the day.
1:30.5	It was up about 50% in normal trading.
	...

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