Transitioning Into Stagflation – Ep 677

The Peter Schiff Show Podcast

Peter Schiff

Business, Politics, Business News, Investing, News

4.7 • 5.8K Ratings

🗓️ 10 April 2021

⏱️ 60 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

* Dow closes the week at a new all time high.
* Small gains in gold and silver.
* Investors haven’t yet realized the Fed can’t stop inflation.
* Bitcoin is not an inflation hedge.
* Record number of Americans don’t want jobs.
* 60 Minutes is fake news.
* US Customs targets me at the airport.

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Transcript

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0:00.0	I like to thank Tommy John for sponsoring my show.
0:12.3	Tommy John has the most comfortable all day wearable fabrics and this spring you can
0:17.8	celebrate comfort like a pro.
0:20.3	You can get 20% off your first order right now at TommyJohn.com slash gold.
0:28.2	The Dow Jones capped off a winning week with a near 300 point rise on Friday to finish
0:35.0	the week at a new all time record high.
0:38.9	The Dow Jones 33,800 spot 60 the actual high on the day 33 8 10 87 so just off the high
0:50.0	of the day on the clothes.
0:51.8	In fact all of the averages were up on the day most were up on the week the Dow up almost
0:59.9	2% on the week.
1:01.8	S&P 500 also set a new record on Friday and that index rose 2.7% for the week.
1:10.4	As a composite not up quite as much on the day nor did it set a record but it was up
1:16.5	3.1% on the week.
1:19.4	The laggard being the Russell 2000 finished positive on the day but it actually declined
1:26.1	just under 1.5% of 1% for the week.
1:30.2	So again the stocks that are most closely tied to the US economy those are the ones that
1:36.8	are having problems.
1:38.5	It's the multinationals the bigger stocks that derive earnings internationally those are
1:44.5	the stocks that are getting most of the benefit from the inflationary policies being
1:49.3	pursued by the Federal Reserve.
1:52.4	The dollar index fell on the week.
1:55.0	You know a lot of people were expecting the dollar to continue to rise.
	...

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