The Peter Shiff Show.

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Good evening, everybody.

Well, earlier today, the Dow Jones Industrial Average

for the first time ever traded above 40,000. Now we almost got to 40,000 the last time the Dow made a

record run but it turns south before actually

close down the milestone.

Though it didn't hold 40,000, it actually closed down on the day.

It wasn't a big decline, but it was enough to push it back below I think even

39,900 but not only the Dow Jones hit a record high today in her day but so did the S&P 500 and so did the NASDAQ.

I mean, the one main index that did not make a new record high was the Russell 2000.

And of course, you know, the high is a nominal new high.

And I think, and I mentioned this on the last podcast but it's going to be increasingly more important

to put the Dow price into perspective because it's very possible that the Dow could keep going up.

But that's only going to be in nominal terms.

In real terms I think that Dow is headed substantially lower. The best way to look at it and all the stock markets for that matter is priced in gold.

Gold almost got back above 2,400 this week.

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