When a market priced for perfection doesn’t get it – Ep 538
The Peter Schiff Show Podcast
Peter Schiff
4.6 • 5.9K Ratings
🗓️ 28 February 2020
⏱️ 38 minutes
🧾️ Download transcript
Summary
* Dow down 404% with a record 1200 point drop.
* Coronavirus damage to the market cannot be undone
* Major discounts in the gold mining stocks
* Coronavirus task force is more like a plunge protection team for the stock market
* Fed’s bullets may no longer work against superman bubble
* I have a PR problem in PR
RATE AND REVIEW the Peter Schiff Show Podcast on Facebook. https://www.facebook.com/PeterSchiff/reviews/
SIGN UP FOR MY FREE NEWSLETTER https://www.europac.com/
Schiff Gold News: http://www.SchiffGold.com/news
Buy my newest book at http://www.tinyurl.com/RealCrash
Like and follow Peter Schiff on Facebook http://www.Facebook.com/PeterSchiff
Follow me on Twitter: http://www.Twitter.com/PeterSchiff Our Sponsors: * Check out Chilipad and use my code sleep.me/GOLD for a great deal: https://sleep.me * Check out DBJourney and use my code Schiff15 for a great deal: https://dbjourney.com * Check out Fast Growing Trees and use my code GOLD for a great deal: https://www.fast-growing-trees.com * Check out Plaud AI and use my code GOLD for a great deal: https://plaud.ai * Check out Quince and use my code quince.com/gold for a great deal: https://www.quince.com * Check out TruDiagnostic and use my code GOLD20 for a great deal: https://www.trudiagnostic.com Privacy & Opt-Out: https://redcircle.com/privacy
Transcript
Click on a timestamp to play from that location
| 0:00.0 | I had an actually planned on recording a podcast today, but given the record point drop |
| 0:15.2 | in the Dow Jones today, I thought I would disappoint some of my listeners if I didn't |
| 0:19.3 | at least post something and record some of my thoughts on today's record breaking decline, |
| 0:25.0 | although in percentage terms, today's 4.4% drop in the Dow was not a record, although |
| 0:32.6 | I think you have to go back to the summer. |
| 0:34.3 | I think it was August of 2011 to get a percentage decline this big. |
| 0:40.1 | The point drop was just under 1200 points, 1190.95 points on the Dow. |
| 0:46.9 | And it was a very volatile day too. |
| 0:48.6 | It didn't just go straight down. |
| 0:50.8 | We were down about 900 points. |
| 0:52.8 | I think it may be the first hour. |
| 0:54.9 | If not the first couple hours. |
| 0:57.0 | And then the market rallied. |
| 0:59.2 | And we were down, I think about 200 at the highs, maybe a little less. |
| 1:03.0 | I think the transports actually went positive a little bit. |
| 1:06.8 | I'm not sure about all of the other index. |
| 1:08.4 | I didn't watch them all, but I know they tried to make a comeback. |
| 1:11.6 | In fact, I was watching on CNBC when the Dow was around down 200. |
| 1:15.9 | And Rick Sankelli was like, oh, I think this is going to close positive. |
| 1:19.0 | You know, he's nice guy, but he's he's he's drunk too much of the Trump Kool-Aid. |
| 1:23.4 | So he's always looking at stuff from a very optimistic perspective because Trump is president. |
| 1:28.6 | But he was like, you know, I think we're going to close positive today. |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from Peter Schiff, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Peter Schiff and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.