U.S. Treasuries are Junk Bonds – Ep 598
The Peter Schiff Show Podcast
Peter Schiff
4.6 • 5.9K Ratings
🗓️ 31 July 2020
⏱️ 51 minutes
🧾️ Download transcript
Summary
Apple becomes world’s most valuable company.
Gold settings records.
Silver has its best month since 1979.
US Dollar has lost better than 99% of its value.
Slow orderly decline could turn into rapid disorderly crash.
10 and 30 year Treasury Bonds close with lowest yields in history.
This is the 1970s on steroids.
Jerome Powell levels up on not thinking about rates.
Meals & Entertainment back on the menu for tax deductions.
Trump’s Kodak moment is not a pretty picture.
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Transcript
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| 0:00.0 | The Peter Ships Show |
| 0:05.0 | Well, the month of July has come to an end and it is one of the record books, thanks |
| 0:14.3 | to the Federal Reserve, you have both the S&P 500 and the NASDAQ composite with their |
| 0:22.2 | highest monthly closes ever. |
| 0:25.6 | Now they are not the highest daily closes but on a monthly basis, these are the highest |
| 0:31.2 | that Dow Jones didn't quite make it because it has too many real companies in it but |
| 0:37.5 | the tech stocks were able to help power the NASDAQ and the S&P to new highs. |
| 0:43.7 | Look at Apple today. |
| 0:45.0 | Another first, Apple is now the world's most valuable company. |
| 0:49.1 | It was up almost 11% today alone, up 10.74% Apple now has a market cap of slightly less |
| 0:58.8 | than $1.8 trillion I believe. |
| 1:03.5 | I mean, a lot of people are now talking about Apple being the first $2 trillion company |
| 1:09.1 | and it could easily happen. |
| 1:11.1 | I mean, maybe it won't, maybe it will but it's not that far away. |
| 1:16.0 | But I remember this harkens back to the dot com bubble. |
| 1:20.6 | I remember when Cisco systems was supposed to be the first trillion dollar company. |
| 1:25.3 | Now it never got nearly as close as Cisco is to 2 trillion but to put that into perspective, |
| 1:31.8 | the high for Cisco systems market cap in 2,000 was 546 billion. |
| 1:39.6 | And here you have Apple with a market cap almost 4 times as much at 1.7 trillion but Cisco |
| 1:47.9 | never made it to a trillion. |
| 1:49.6 | In fact, it ended up falling back below 100 billion. |
| 1:52.3 | I forget where the low was for Cisco. |
... |
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