Government Stimulus Is Inflation in Disguise - Ep 981
The Peter Schiff Show Podcast
Peter Schiff
4.7 • 5.8K Ratings
🗓️ 28 September 2024
⏱️ 57 minutes
🧾️ Download transcript
Summary
Gold reaches record highs, silver follows. Market reactions, inflation concerns, Fed's policies, and economic predictions
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Peter discusses the new all-time records set by gold and silver, highlights the puzzling behavior of gold mining stocks, and criticizes the mainstream financial media's understanding of inflation and Federal Reserve policies. He elaborates on the significant data from the Fed's favorite inflation measure, the core PCE, revealing how it misrepresents the true state of inflation. Peter also explains why the Fed's strategy is misguided and suggests that persistent inflation will lead to an eventual return to QE. He ties in how geopolitical moves, like China's recent stimulus announcement, and domestic factors, including Saudi Arabia's oil production strategy, influence market dynamics. Furthermore, Peter argues for the importance of investing in gold and silver as he predicts a substantial increase in their value due to ongoing economic missteps by the Fed.
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Transcript
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| 0:00.0 | The Peter Shipp Show. |
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| 0:42.9 | All right, well, another week has gone by |
| 0:46.1 | and another all-time record high in the price of gold. |
| 0:50.3 | In fact, silver went along for the ride setting a new four year high intra week |
| 0:56.9 | price of silver got above $42.50. I think guys saw gold trading above 2,685 yesterday. We did have a bit of a |
| 1:09.7 | pullback today. Gold dropped about $16. We closed a week at 2,659, but that is the highest |
| 1:17.7 | weekly close in the history of gold. Silver also down on the day back below 32 closed at 31-60 but it was |
| 1:27.5 | still up. I mean gold was up about 1% on the week. Silver was up about 2.5 percent. |
| 1:34.0 | Not a bad week. |
| 1:36.0 | Unless you are invested in the mining stocks, |
| 1:38.0 | they were actually down. |
... |
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