Gold climbs wall of worry to $1,550 – Ep. 524
The Peter Schiff Show Podcast
Peter Schiff
4.6 • 5.9K Ratings
🗓️ 4 January 2020
⏱️ 48 minutes
🧾️ Download transcript
Summary
U.S. assassinates an Iranian military general driving up safe haven investments like oil, gold, Swiss Franc, Japanese Yen, Treasury market. Gold outshines them all. But is the world safer or more dangerous than ever?
Bitcoin touted as the best performing asset of the decade. But it’s not that simple.
CNBC thinks the hardest job for the Fed is creating inflation. The biggest problem is really their inability to stop inflation. The monetary spigots are flowing heavy and they’re going to flow even heavier leading up to the election.
It’s a dangerous time for markets with the coming election. There was a time when America would never vote in socialism, but that’s no longer the case. This election may bring in one of the largest single day stock market drops in history. Our Sponsors: * Check out Chilipad and use my code sleep.me/GOLD for a great deal: https://sleep.me * Check out DBJourney and use my code Schiff15 for a great deal: https://dbjourney.com * Check out Fast Growing Trees and use my code GOLD for a great deal: https://www.fast-growing-trees.com * Check out Plaud AI and use my code GOLD for a great deal: https://plaud.ai * Check out Quince and use my code quince.com/gold for a great deal: https://www.quince.com * Check out TruDiagnostic and use my code GOLD20 for a great deal: https://www.trudiagnostic.com Privacy & Opt-Out: https://redcircle.com/privacy
Transcript
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| 0:00.0 | So far we only have two trading days in the 2020s and we're already off to a pretty |
| 0:15.4 | volatile start. |
| 0:17.2 | First of all, Monday we had an explosive rally, really no news, but the Dow was up better |
| 0:24.3 | than 300 points. |
| 0:26.8 | You had a hundred what 3040 point rise in the NASDAQ. |
| 0:31.1 | I think it was about a 1.4% gain. |
| 0:34.1 | So a very strong day across the board with the exception of the Russell 2000, which was |
| 0:40.8 | actually down pretty substantially for most of the trading section. |
| 0:47.1 | And then towards the end, maybe in the last hour when we had another rally to new highs |
| 0:53.5 | or the market, we saw a move up in the Russell 2000, but the Russell 2000 couldn't quite |
| 0:59.1 | make it into positive territory. |
| 1:02.1 | So it was the only index that closed the day in the red. |
| 1:06.2 | And remember, I've been talking about that on this podcast. |
| 1:09.2 | The Russell 2000 is the only index that did not make a new record high. |
| 1:15.2 | The high for the Russell 2000 is still in the fall of 2018. |
| 1:23.7 | And it looks like that that may be the high. |
| 1:25.9 | We may not take out that high at all. |
| 1:29.6 | Now another interesting thing about the divergence that we saw between the overall market, particularly |
| 1:37.3 | the tech stocks and the broader smaller US companies, was that we had a spike a rally |
| 1:45.5 | rather in in interest in bond market, a rally the bond market. |
| 1:49.5 | So interest rates went down as this was happening. |
| 1:53.5 | And we had a rise in the dollar, right? |
... |
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