What the dollar losing reserve status portends – Ep 597
The Peter Schiff Show Podcast
Peter Schiff
4.6 • 5.9K Ratings
🗓️ 28 July 2020
⏱️ 64 minutes
🧾️ Download transcript
Summary
Bitcoin getting pumped - watch out for the dump.
Don’t go all in on gold.
Quantitative easing is here to stay.
American’s will be much poorer when the dollar loses its reserve status.
Republicans introducing $1 Trillion stimulus bill - Democrats say it’s too small.
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Transcript
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| 0:00.0 | I want to give a special shout out to the newest sponsor of the Peter Schiff Show Podcast, |
| 0:14.6 | Raycon Wireless Ear Buds. |
| 0:16.6 | Let's thank Raycon for supporting the Peter Schiff Show Podcast. |
| 0:20.0 | Raycon Ear Buds start at about half the price of any other premium wireless earbud on the |
| 0:26.6 | market. |
| 0:27.8 | You can get a 15% discount of an already low price when you buy your Raycon Ear Buds at |
| 0:36.4 | byraycon.com forward slash gold. |
| 0:41.2 | The main story in the financial markets continues to be the run up in the price of gold, hitting |
| 0:48.4 | new all-time record highs now in terms of dollars. |
| 0:52.5 | In fact, the new high that I saw last night was 1981 for spot gold. |
| 0:59.3 | I think the futures ticked up to 2000, but in the spot market we came to within $19 of |
| 1:07.7 | $2000 gold. |
| 1:09.8 | In fact, silver was above 26. |
| 1:12.3 | I think I saw it at about 26, 15 or 26, 20. |
| 1:17.4 | Before we had a pretty significant reversal on the Tuesday night, not really Tuesday |
| 1:26.8 | here in the US, although the reversal that we had today was that the market's open lower |
| 1:32.8 | and reverse positive, because gold, which actually opened down maybe about $10 or $15 in |
| 1:39.6 | the US, closed up that amount. |
| 1:42.4 | As I am recording this podcast, shortly after the US stock market shut for trading, we're |
| 1:49.3 | almost at 1960 on the price of gold. |
| 1:52.9 | That's almost up $17 from yesterday's close. |
| 1:56.0 | Silver on the other hand is still negative on the day. |
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