The Gold Train Has Left the Station – Ep 853
The Peter Schiff Show Podcast
Peter Schiff
4.6 • 5.9K Ratings
🗓️ 7 November 2022
⏱️ 51 minutes
🧾️ Download transcript
Summary
· Tech stocks collapsing further.
· Smart money is buying gold mining stocks.
· Labor force participation rate has declined despite extra jobs.
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Transcript
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| 0:00.0 | The Peter Shiff Show. |
| 0:09.5 | Today's podcast was recorded yesterday. |
| 0:12.1 | If you want to listen to my podcast, Commercial Free, the day that I record them, go to |
| 0:17.0 | shiffradio.com slash premium. |
| 0:19.6 | It only costs $5 a month. |
| 0:22.0 | Today's podcast is sponsored by Mint Mobile. |
| 0:24.6 | With Mint Mobile, there's no trapping you into a two-year contract or opening to build |
| 0:28.4 | a fight all those crazy fees to get premium wireless for just $15 a month and no unexpected |
| 0:34.6 | plot to us go to mithmobile.com slash gold. |
| 0:38.2 | Friday was a huge week in global financial markets, not just in the stock markets, but |
| 0:44.8 | in the commodity markets and the currency markets. |
| 0:48.3 | It all basically started with rumors coming out of China that the Chinese government was |
| 0:55.0 | getting closer to ending their zero COVID policy lockdowns. |
| 1:00.8 | So reopening more of the Chinese economy and that sent stocks related to China, soaring. |
| 1:08.0 | In fact, the Hang Seng Index was up, I think, 6% on Friday. |
| 1:12.4 | But specifically, the stocks related to mainland China that trade in Hong Kong had their |
| 1:18.6 | biggest weekly gain in seven years. |
| 1:22.0 | They ended up 9% on the week, but it wasn't just stocks that went up. |
| 1:27.3 | Anything tied to China went up, particularly industrial metals. |
| 1:32.5 | Copper was up 7.5%, aluminum 4%, zinc 5.7%, tin 6.25%. |
| 1:42.3 | Energy of course also had another big move. |
| 1:45.3 | Global prices up $4 and $0.44 a barrel we closed in New York on West Texas crude $92.61. |
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