The Dollar’s Loss Is Not America’s Win – Ep 637
The Peter Schiff Show Podcast
Peter Schiff
4.7 • 5.8K Ratings
🗓️ 19 December 2020
⏱️ 55 minutes
🧾️ Download transcript
Summary
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Dollar melts down toward new lows.
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Tesla added to S&P, making the index even more overvalued.
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Exporting is a means to pay for importing.
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Transcript
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| 0:00.0 | I like to thank Indeed for supporting the Peter Shiff Show podcast. |
| 0:13.3 | This has been a challenging year for businesses across the globe and they are under pressure |
| 0:20.1 | to be as efficient as possible, which means every hire is critical. |
| 0:26.3 | That is why Indeed is here to help you finish 2020 as strong as possible. |
| 0:32.3 | Indeed is the number one job site in the world and you can get a free $75 credit at |
| 0:38.6 | Indeed.com slash Peter. |
| 0:41.2 | Terms and conditions apply and the offer is valid just till December 31st. |
| 0:46.3 | The big story of the week continues to be the slow meltdown of the US dollar and it's |
| 0:53.1 | not that the financial media is ignoring the story. |
| 0:57.5 | They are covering the dollar's decline. |
| 1:00.4 | It's just that they don't seem to appreciate the significance of what's going on in order |
| 1:06.5 | they realize how much further the dollar has to fall. |
| 1:10.8 | In fact, most of the coverage thus far has been of the positive aspects that will result |
| 1:19.6 | from the declining dollar, which is typically the case. |
| 1:22.5 | The dollar has gone through some significant declines in the past. |
| 1:28.2 | The most recent big bear market in the dollar was from 2001 through 2008. |
| 1:36.5 | The dollar did drop in 2009 after the big rally in the second half of 2008. |
| 1:44.3 | Then the dollar recovered. |
| 1:46.0 | We had a very, very strong dollar really from the 2009 low up till the peak a couple of |
| 1:53.2 | years ago. |
| 1:54.6 | We've really been going sideways and now we're finally starting to break down. |
| 1:58.8 | In fact, the dollar index closed below 90 for the first time since December of 2014, I believe. |
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