Investors remain oblivious to gold’s warning – Ep 594
The Peter Schiff Show Podcast
Peter Schiff
4.6 • 5.9K Ratings
🗓️ 23 July 2020
⏱️ 47 minutes
🧾️ Download transcript
Summary
Big gains in silver, but that bull market has barely started.
CNBC oblivious to what this means for economy.
Trend broken of declining unemployment.
A dollar crisis is much worse than a financial crisis.
Wall Street learned nothing from 2008.
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Transcript
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| 0:00.0 | The Peter Shifch show. |
| 0:09.1 | Today the price of gold got to within $3 or so of hitting 1900. |
| 0:14.7 | We couldn't quite break above that barrier and we ended up settling out about $15, $16 |
| 0:22.2 | higher on the day. |
| 0:24.2 | The price of gold is about $18.86 but that's still a new nine year high. |
| 0:29.6 | In fact, there's only been about three or four days in history where the price of gold |
| 0:35.6 | has actually been above 1900. |
| 0:38.3 | I think we're about to have another such day probably as early as tomorrow. |
| 0:43.5 | We'll see. |
| 0:44.5 | The price is silver which briefly got above $23 today ended up down about $48, settling |
| 0:51.4 | about $22.56 but still much higher than it was my last podcast a couple of days ago when |
| 0:58.3 | I spoke about the breakout in silver. |
| 1:00.3 | In fact, yesterday I think the price of silver was up 9% in one day. |
| 1:05.5 | That was about a 15% 16% two day rally in the price of silver. |
| 1:11.1 | Maybe a little bit more if you include the morning's rally which silver wasn't able to hold |
| 1:16.0 | on to but that is a big move in a very short period of time. |
| 1:20.3 | Of course, CMBC I was just watching before I started recording this podcast. |
| 1:25.7 | They were pointing out the big move in silver to basically warn their viewers not to buy. |
| 1:32.3 | They're saying, oh, this is like a speculative blow off top. |
| 1:36.7 | You normally see this kind of action at the end of a move, not at the beginning. |
| 1:42.5 | We've seen this before in like tech stocks and stuff like that. |
| 1:46.2 | They think this is a bubble that's just popped and they're telling their viewers, hey, stay |
... |
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