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The Peter Schiff Show Podcast

When Neel Kashkari Speaks, Smart People Buy Gold – Ep 653

The Peter Schiff Show Podcast

Peter Schiff

Business, Politics, Business News, Investing, News

4.75.8K Ratings

🗓️ 4 February 2021

⏱️ 61 minutes

🧾️ Download transcript

Summary


*
Quieter day in the markets with notable moves in oil.

*
Dollar consolidating before its next move lower.

*
Kashkari believes inflation is purely psychological.

*
Outsourcing will boom under Democrats.

*
New York is paying people to get COVID at “Covid Parties.”

*
Visa uses Bitcoin for cheap publicity, not for DeFi.


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Transcript

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0:00.0

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0:15.7

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0:18.5

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0:26.9

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0:33.2

A relatively quiet day in the market today, but some of the movements of note, the price

0:39.9

of oil continues to creep higher, making a new post COVID high today.

0:46.0

We were up better than $1 a barrel.

0:48.3

I think we closed just under 56 55 80 ish.

0:53.4

We did trade above 56 the high I saw was 56 33 and that again is the high print for

1:00.1

the move.

1:01.1

We are making a B line towards 60.

1:04.6

We may have a bit of resistance up there, but I think people are going to be very surprised

1:10.3

at the speed with which oil moves from 60 to 100.

1:14.6

I'm not even sure that we're going to stop at $80 a barrel for long, but that is going

1:19.9

to really be a big factor, I think in the inflation outlook, looking also at the

1:26.9

bond yields, they continue to creep higher getting close again to the post COVID highs as

1:32.5

well in bond yields, the yield on the 10 year back above 1.13 getting close to the highest

1:40.3

we've been post COVID.

1:42.7

The high I think we had was about 1.187.

1:46.6

Not quite to 1.2 yet, but we are creeping higher and the yield on the 30 year now back

1:53.3

above 1.9, we're at 1.912 on the close and the highest we've been on the 30 year since

...

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