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The Peter Schiff Show Podcast

Security Regs and IRS Audits Targeting the Rich Will Hit the Middle Class – Ep 660

The Peter Schiff Show Podcast

Peter Schiff

Business, Politics, Business News, Investing, News

4.75.8K Ratings

🗓️ 20 February 2021

⏱️ 53 minutes

🧾️ Download transcript

Summary


* Copper leads rise in commodities.
* By end of year, a penny may be worth a nickel.
* Elon Musk admits, BTC is BS.
* Bitcoin bubble may get popped by a gold pin.
* Game Stop bubble popped.
* Robinhood going to be writing a lot of checks to small investors.
* If you can’t afford a professional broker, blame the government.
* IRS setting their sights on the middle class and small business owners.

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Transcript

Click on a timestamp to play from that location

0:00.0

The Peter Shifx Show

0:09.0

Today's Peter Shifx Show podcast is sponsored by Wundery's Business Movers.

0:14.1

In the newest episode they explore how the reformulated new Coke back in 1985 disrupted

0:21.2

Coke and cold was public perception and it was pulled from the shells within months.

0:26.7

According to the newest season of business movers on Apple iPad Spotify or listen ad free

0:31.9

by joining Wundery Plus in the Wundery app.

0:36.0

The Dow Jones managed to make a new all time record high today and finished out the day

0:41.4

with a small gain.

0:43.4

The other indexes did not make a new high.

0:46.4

In fact, the other indexes were all down on the week.

0:49.4

The NASDAQ was the only index of the big four to finish the week in the black.

0:54.2

S&P 500 NASDAQ Russell 2000 they finished in the red.

1:00.0

But you know the big action today and on the week was in the commodity market and stocks

1:05.4

that are linked to commodities generally industrial metals agricultural commodities although

1:12.0

oil did have a pullback today back below $60 barrel.

1:17.0

As I said I thought we would consolidate a little bit around $60 before moving higher.

1:22.5

But the big action in industrial metals take a look at copper in particular up about

1:27.7

4.5% on the day copper closed at $4.8 per pound.

1:34.8

Now the all time record high for copper was set back in 2011.

1:39.9

We got to $4.50 a pound.

1:42.7

So we're almost there.

1:44.0

In fact, I think we're going to shatter that record before the end of the year.

...

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