QE Infinity and Beyond! – Ep 552
The Peter Schiff Show Podcast
Peter Schiff
4.6 • 5.9K Ratings
🗓️ 24 March 2020
⏱️ 33 minutes
🧾️ Download transcript
Summary
Physical gold market is selling out of inventory.
Stimulus package dragging on as Democrats pack in the porkbarrel.
The digital dollar is coming.
Pandora’s box has been opened on landlords.
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Transcript
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| 0:00.0 | What's the Peter Schiff show? |
| 0:09.0 | Well the Dow Jones gained a record 2,112 spot 9.8 points today, 11.37 percent gain. |
| 0:19.6 | This is the biggest percentage gain in the Dow Jones since 1933, which of course was during |
| 0:29.3 | the Great Depression and bear market that accompanied the Great Depression. |
| 0:35.0 | As I've been saying, rallies like this generally only happen in bear markets and they normally |
| 0:42.4 | don't mark the end of the bear market. |
| 0:44.5 | They normally happen somewhere in the middle. |
| 0:47.8 | I have been saying that I thought that there would be some type of stimulus related rally |
| 0:53.5 | or correction. |
| 0:54.7 | I don't know if this is just a one day wonder or if it is the beginning of a larger correction. |
| 1:00.9 | I do not believe it's the beginning of a new bull market nor the end of the current |
| 1:05.8 | bear market, but it is typical of bear markets to have these kind of rallies. |
| 1:10.8 | In fact, if you look at the Dow's 10 best percentage gains ever, this one ranks as number |
| 1:17.0 | 5. |
| 1:18.0 | So the fifth best gain ever. |
| 1:20.7 | But if you look at all the other gains, the number 4, the first 4 biggest percentage |
| 1:26.4 | gainers all happen during the Great Depression from 1929 through 1933. |
| 1:34.0 | And then number 6 and number 10 on the list, those are also in the 1930s and 1932 during |
| 1:42.7 | the Great Depression. |
| 1:44.2 | And at the other 3 days in the top 10, two of them were in 2008 during that recession, |
| 1:50.8 | during the financial crisis in October because the market didn't go and make it low until |
| 1:56.7 | March of the following year. |
... |
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