Inflation Is Not the Price of Prosperity – Ep 742

The Peter Schiff Show Podcast

Peter Schiff

Business, Politics, Business News, Investing, News

4.7 • 5.8K Ratings

🗓️ 20 October 2021

⏱️ 55 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

* Bonds are never a safe haven against inflation.
* Consumers can’t afford to buy houses for what it costs builders to construct them.
* Zillow bails on home flipping business.
* Biden describes inflation as a high class problem.
* US government now using Soviet propaganda tactics to explain inflation.
* Bitcoin futures ETF BITO is the antithesis of what Bitcoin is supposed to stand for.

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Transcript

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0:00.0	The Peter Ships Show.
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0:32.8	slash Peter.
0:34.0	The podcast is also sponsored by Fields.
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0:45.7	Go to Fields.com slash Gold and you'll get 40% off your first three months with free
0:51.6	shipping.
0:53.2	Another early morning Gold Rally fizzled out today.
0:56.9	I think when the US stock market opened for trading, Gold was up about $20 an ounce.
1:02.8	Silver was even stronger.
1:04.8	It was trading up about $90.
1:07.5	But then what really let the wind out of the sale of the rally was an increase in oil prices
1:13.9	that I think bled over into the bond market, causing treasury yields to really back up
1:20.0	on the long end.
1:21.0	And the yield curve steeped quite a bit because we didn't see any increases on the short
1:27.1	end.
1:28.1	We got the yield on the 30 year bond up to 2 spot 088 and on the 10 year at one spot 635.
	...

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