Wall St. Bailout 2.0 – Ep 549
The Peter Schiff Show Podcast
Peter Schiff
4.6 • 5.9K Ratings
🗓️ 18 March 2020
⏱️ 51 minutes
🧾️ Download transcript
Summary
Sometimes stocks trade on peoples’ emotions and we’re seeing a lot of that now. Today marked the seventh consecutive day that the dow has moved by 1000 points. Markets surge on Trump’s promise of helicopter money and bailouts.
Dollar rallies sharply on what may be a technical head-fake. Gold likely finding it’s bottom and set to go higher.
Donald Trump is.a Socialist now and he’s trying to buy the election by bribing the electorate.
Elizabeth Warren has some conditions.
And while this podcast was being recorded, another bailout was announced!
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Transcript
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| 0:00.0 | The Peter Schiff Show |
| 0:07.0 | Well, another day and another couple of trillion dollars of quantitative easing. |
| 0:13.2 | I mean, pretty soon we're going to be talking about real money here. |
| 0:16.2 | I mean, they're way they're throwing around these numbers. |
| 0:19.1 | It's really incredible. |
| 0:20.1 | I mean, we're already committed to spend more money, I think, than the entirety of the 2008 |
| 0:26.3 | financial crisis. |
| 0:27.3 | And again, this is what I was saying from the beginning. |
| 0:30.2 | People maybe thought I was joking. |
| 0:32.2 | When I said QE4 was going to be bigger than QE12 and 3 combined because I think it already |
| 0:38.2 | is and we are just getting started. |
| 0:41.3 | You had a Powell come out today or the Fed and they announced I think another trillion |
| 0:47.0 | dollars in repos or a program to backstop the commercial paper market. |
| 0:54.7 | So now they're coming in. |
| 0:56.5 | Commercial paper is corporations loaning money to one another short term. |
| 1:01.9 | And apparently the Fed says, well, they want to stabilize that market, which really means |
| 1:06.3 | they don't like what the free market is doing because commercial paper yields are rising. |
| 1:12.5 | Now, if the economy is slowing, right, up, we're going into recession. |
| 1:16.6 | If supposedly inflation is going to be lower than it was before, why are bond yields rising? |
| 1:22.7 | Well, because everybody has a lot of debt and there's not a lot of savings in the economy, |
| 1:28.5 | interest rates should be a lot higher if we allowed the free market to function. |
| 1:32.9 | But the last thing the Fed wants is for the free market to function because then it |
... |
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