What silver’s breakout really means – Ep 593
The Peter Schiff Show Podcast
Peter Schiff
4.6 • 5.9K Ratings
🗓️ 21 July 2020
⏱️ 56 minutes
🧾️ Download transcript
Summary
The world is going back to a gold standard whether the Fed wants one or not.
Massive moves in silver coming.
Traders unwinding short spreads on precious metals.
The canary in the coal mine is dropping dead.
The coming crash will likely be worse than I ever imagined.
New government relief package in the works, but we really need relief from the government.
You get less of what you tax and more of what you subsidize.
Payroll tax is a tax on jobs.
Student loans should be forgiven.
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Transcript
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| 0:00.0 | What's up, Peter Schifzscho? |
| 0:09.1 | Well it's been a volatile couple of days in the global financial markets. |
| 0:13.5 | In particular, the foreign exchange and the precious metals markets. |
| 0:17.6 | But before I get into all that, I want to give a special shout out to the newest sponsor |
| 0:22.5 | of the Peter Schifzscho podcast, Raycon Wireless Ear Buds. |
| 0:27.0 | Thank Raycon for supporting the Peter Schifzscho podcast. |
| 0:30.4 | Raycon Ear Buds start at about half the price of any other premium wireless earbud on the market. |
| 0:38.0 | And you can get a 15% discount of an already low price when you buy your Raycon Ear Buds |
| 0:46.1 | at buyraycon.com forward slash gold. |
| 0:51.7 | Well, the stock market yesterday, there was a huge rally in the NASDAQ. |
| 0:58.0 | You know, while the overall stock market kind of went nowhere that Dow was relatively flat, |
| 1:03.5 | all this money was piling in to these overpriced momentum stocks. |
| 1:10.0 | All the stocks that everybody has agreed are the ones that benefit from COVID-19. |
| 1:15.7 | These are the stay-at-home stocks, the ones that aren't seeing their earnings implode. |
| 1:20.9 | And since so many investors don't know how to invest in this environment, right? |
| 1:25.8 | They don't know what to do because we're in a recession. |
| 1:28.4 | Earnings are collapsing. |
| 1:30.2 | The deficits are skyrocketing. |
| 1:32.2 | You've got all this political uncertainty. |
| 1:34.6 | Trump is probably going to lose massive tax hikes around the horizon. |
| 1:39.2 | And so what is everybody doing? |
| 1:40.8 | Well, they're just buying the stocks that are up the most and under the most expensive, |
... |
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