Gold will be the only safe haven left standing – Ep 536
The Peter Schiff Show Podcast
Peter Schiff
4.6 • 5.9K Ratings
🗓️ 25 February 2020
⏱️ 47 minutes
🧾️ Download transcript
Summary
* All major indexes down and looking weak.
* Bubble is looking for a pin and coronavirus might be it.
* Dumb money is piling into treasuries. Safe-haven money is moving to gold.
* CNBC still obsessed with bitcoin. Remains silent on record breaking gold prices.
* Warren Buffet thinks Bitcoin is garbage and it’s going to $0.
* Baby Boomers sowed the winds for socialism.
* If you thought Obama was bad with executive orders, just wait for a President Sanders.
* The markets will drop by 50% under President Sanders.
* More people will die from the Sanders virus than coronavirus.
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Transcript
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| 0:00.0 | The Dow Jones closed down today better than 1000 points, 1000, third you won, spot 6, 1 |
| 0:16.6 | to be exact. |
| 0:17.6 | That's just, I think, the third time in history that that index has closed down more than 1000 |
| 0:24.3 | points. |
| 0:25.3 | And if you're at a percentage wise, it's really not that significant, 3.5% or just over |
| 0:31.1 | is the size of the decline. |
| 0:32.9 | You know, that's about where the market opened. |
| 0:34.8 | The Dow gaped down about 900 or so, it was down that much in the first few minutes of |
| 0:40.3 | trading. |
| 0:41.3 | So it didn't really lose any additional ground, although it tried to rally a couple of |
| 0:45.7 | times throughout the day, maybe got to down less than 800 a couple of times, but came |
| 0:52.0 | into a lot of selling and ultimately closed the day on the lows, which technically, I think, |
| 0:58.1 | looks pretty weak. |
| 0:59.4 | The NASDAQ was even weaker down 3.7%. |
| 1:03.2 | It spent some part of the day down over 4%. |
| 1:07.0 | But the number of points there, 355 points down for the NASDAQ, but none of these indexes |
| 1:13.1 | were spared. |
| 1:14.3 | Even the Russell 2000 was down over 3%. |
| 1:17.0 | And remember, the Russell 2000 is the one index that did make a new record high. |
| 1:22.2 | And that one, I think, technically, looks the weakest. |
| 1:25.4 | And remember, that is the one that is the most focused on the domestic economy, which |
| 1:30.3 | everybody is saying is so great in which Donald Trump is trying to take credit for reviving. |
... |
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