Lies That Central Bankers and Bitcoin Pumpers Tell – Ep 713

The Peter Schiff Show Podcast

Peter Schiff

Business, Politics, Business News, Investing, News

4.7 • 5.8K Ratings

🗓️ 10 July 2021

⏱️ 55 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

* Oil prices break their winning streak.
* As stimulus runs out, Americans reach record high in consumer credit.
* ECB vows to increase cost of living for Europeans.
* Michael Saylor’s Bitcoin spin should fool no one.

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Transcript

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0:00.0	I'd like to thank a brand new sponsor to my podcast First Leaf.
0:13.9	First Leaf is a better way to discover a wine that you'll love at a fraction of the
0:18.6	price.
0:19.6	You can save time, money, and stress.
0:22.7	And today, and get six bottles of wine for just $29.95, including free shipping at
0:29.1	tryfirstleaf.com slash gold.
0:32.9	Well we had a pretty big different story in the market on Friday than the one we were
0:37.6	looking at Thursday morning when I recorded my last podcast prior to the open.
0:43.6	If you recall, S&P 500 futures were down about 400 and in fact they were down over 500
0:51.5	later that morning.
0:53.3	But we did get a bit of a rally later in the day.
0:56.2	The market still closed down, but well off the lows.
1:00.8	Stocks weren't the only market that turned around during the week.
1:04.3	Look what happened with the US dollar.
1:06.2	The dollar was gaining some strength based on the idea that the Fed was going to be tightening
1:11.4	sooner than expected.
1:13.1	Well the dollar surrendered all of those gains by the close on Friday.
1:17.9	The US dollar index was down just over .3 to 92 spot 1 0.
1:24.7	So it was slightly lower on the week.
1:27.1	Same story with gold.
1:28.7	The price of gold tried to sell off mid week on the idea that the Fed was going to fight
1:33.8	inflation sooner rather than later.
	...

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