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The Peter Schiff Show Podcast

Fed’s Credibility Is Transitory, Not Inflation – Ep 750

The Peter Schiff Show Podcast

Peter Schiff

Business, Politics, Business News, Investing, News

4.75.8K Ratings

🗓️ 13 November 2021

⏱️ 76 minutes

🧾️ Download transcript

Summary




* CPI data heavily contradicts Fed’s transitory inflation narrative.
* Reagan was more popular during a recession than Biden is during this “booming” economy.
* The government has too much money on the line not to lie about inflation.
* Media’s bias taints their inflation reporting.
* Federal Reserve can print money, but they can’t print stuff.
* Biden’s Build Back Better plan would have even Keynes rolling in his grave.
* Biden considers releasing US strategic oil reserves to China.
* Consumer sentiment plunges.
* Gold price surges.
* Fed won’t try to fight inflation because it will reveal their weak position.
* Fed’s policy: Speak loudly when you have no stick.
* Falling dollar will be the next domino to fall.
* Record number of Americans tell their employer to take job and shove it.
* Bitcoin whales conning institutions and bribing politicians.





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Transcript

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0:00.0

The Peter Ships Show.

0:09.1

Today's podcast is sponsored by NetSuite, the business management software that handles

0:14.1

every aspect of your business in an easy to use cloud platform.

0:18.4

NetSuite is offering a what-of-a-kind financing program, but only for those ready to switch

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today.

0:23.6

Go to NetSuite.com slash goal.

0:26.0

The podcast is also sponsored by a VAS.

0:28.8

A VAS new all-in-one solution of VAS.

0:31.3

One helps you take control of your safety and privacy online through a range of features.

0:37.4

Learn more about a VAS.

0:38.5

At VAS.com.

0:40.3

When I recorded my last podcast on Tuesday evening, earlier that day, the government released

0:46.8

the producer price numbers for October.

0:51.3

We got an increase of 0.6, 10th of 1%, which was pretty much in line with estimates.

0:59.2

The year-over-year increase was 8.6, which was a record high going back to the beginning

1:07.1

of this series, not really sure when they started keeping track of it in this matter, but

1:12.8

it doesn't have that long a history.

1:14.8

But that was the highest in whatever the history was.

1:18.2

But I also pointed out that the numbers were worse because if you annualize the first

1:23.6

10 months of the year, producer prices were increasing at a 10% clip, which is even higher

1:31.8

than that 8.6%.

1:33.8

But more importantly, I warned that consumers could not expect producers to basically keep

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