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The Peter Schiff Show Podcast

Markets Are Bracing For the Wrong Impact – Ep 712

The Peter Schiff Show Podcast

Peter Schiff

Business, Politics, Business News, Investing, News

4.75.8K Ratings

🗓️ 8 July 2021

⏱️ 51 minutes

🧾️ Download transcript

Summary




* Bitcoin and other risky assets being sold off.
* Investors flee to gold and other safe havens.
* Fed goes from thinking about thinking about tapering to talking about talking about it.
* Supply of starter homes at 50 year low.
* Buying Bitcoin is as risky as it’s ever been.





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Transcript

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0:39.0

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0:40.6

Offer his valid through September 30th terms and conditions apply.

0:45.4

Well I am recording this podcast that around 11 a.m. here in Switzerland and that means

0:51.6

it's only 5 a.m. back in New York.

0:54.6

So we still have several hours before the stock market opens.

0:59.9

But I'm already looking at how the futures are trading.

1:03.5

And as I am recording, Dow futures are now off about 400 points.

1:08.7

So it looks like the market is off to a rough start.

1:12.8

In fact, if you look at all of the markets, you can see that right now it is risk off as

1:20.5

everybody is selling the riskier assets and buying what they perceive to be as safe

1:27.0

or haven.

1:28.0

You can really see that in the foreign exchange market.

1:30.7

The dollar today is down solidly against the euro, the Japanese yen in particular and

1:37.9

the Swiss Frank.

1:38.9

I think that's where you're seeing the biggest move down is against a Frank.

1:43.0

Obviously that's going to make my time in Switzerland a little bit more expensive.

...

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