Inflation Tax Already Destroying Purchasing Power – Ep 695

The Peter Schiff Show Podcast

Peter Schiff

Business, Politics, Business News, Investing, News

4.7 • 5.8K Ratings

🗓️ 26 May 2021

⏱️ 57 minutes

🔗️ Recording | iTunes | RSS

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Summary

* Gold close to breakout and dollar close to break down.
* Fed admits unpleasant inflation is a possibility.
* Major disappointment in home buyer data.
* Surplus of money is pricing Americans out of the home and automobile market.
* Government begins blaming companies for higher prices instead of inflation.
* Don’t let your money retire before you do.
* Warning signs of crypto bubble popping.

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Transcript

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0:37.2	Well the price of gold finally back up to 1900 and ounce today.
0:42.9	In fact we settled just below at $18.99, $18.70 on the day.
0:52.0	We're also added about $22.00 and ounce closing just below $28.97.
1:00.7	The US dollar index headed in the other direction.
1:04.7	It was down closing at 89 spot 66.
1:10.3	This is the lowest the dollar index has traded since early January.
1:16.0	So this is the highest the price gold has traded at since early January.
1:22.1	And I think we're very close to a major break out in the price of gold and break down in
1:29.2	the value of the dollar.
1:30.7	We did have a couple of catalysts for today's move up in gold and down in the dollar.
1:38.1	One was a statement from Chicago Fed president Charles Evans and Evans basically pledged
1:47.6	his full support for the Fed's current reckless monetary policy.
1:53.5	He said and I quote, I have not seen anything yet to persuade me to change my full support
2:02.5	of our accommodative stance for monetary policy or our forward guidance about the path
2:09.0	for policy.
2:10.5	And also in commenting about inflation, he said that the recent rise in US inflation
	...

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