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The Peter Schiff Show Podcast

Traders Begin to Realize Higher Inflation Is Bullish for Gold – Ep 696

The Peter Schiff Show Podcast

Peter Schiff

Business, Politics, Business News, Investing, News

4.75.8K Ratings

🗓️ 29 May 2021

⏱️ 65 minutes

🧾️ Download transcript

Summary


* The Great Rotation is underway.
* Gold closes the month with its highest monthly close since August 2020.
* Headline PCE has biggest rise in 13 years.
* Core CPE has biggest rise in 25 years.
* Rent rises 5.4%. Food rises 28%.
* Traders waking up to reality that inflation is bearish for the dollar and bullish for gold.
* JP Morgan risks their clients’ investments to collect their fees.
* Government budgets are just optimistic wishlists.



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Transcript

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0:00.0

I like to thank my brand new sponsor Trunyajin for supporting my podcast.

0:14.2

Trunyajin fuels the body's energy engines, maintains cellular metabolism, and even supports

0:21.6

a healthy heart.

0:23.0

And now you can get 10% off your first purchase as a new customer at Trunyajin.com slash

0:30.2

Peter with promo code Peter.

0:33.1

These statements have not been evaluated by the Food and Drug Administration.

0:36.5

This product is not intended to diagnose, treat, cure, or prevent any disease.

0:42.5

I want to start off the podcast by saying I hope everybody is enjoying this three day

0:48.5

holiday weekend.

0:50.3

But because Memorial Day is the 31st of the month, the last trading day of this month was

0:59.3

yesterday, Friday, because the next time the market's open for business, it will be June

1:04.4

1st.

1:05.4

So we close the books on May.

1:08.1

And while investors didn't sell in May and go away, what they did do in May was rotate.

1:15.5

We really began, I think, the long overdue, great rotation out of the hyped up, overvalued

1:25.7

momentum type stocks into more traditional value oriented dividend paying stocks.

1:33.5

In fact, you can certainly see the rotation when you look at the averages because the only

1:40.0

average that was down on the month was the NASDAQ.

1:45.5

And the biggest gainer was the Dow.

1:48.3

The Dow was up about 2% in May.

1:51.7

S&P may be about a half a percent.

1:54.8

NASDAQ, though, down 1.5%.

...

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