Worst Pre-Election Stock Market Week in History – Ep 623
The Peter Schiff Show Podcast
Peter Schiff
4.6 • 5.9K Ratings
🗓️ 31 October 2020
⏱️ 47 minutes
🧾️ Download transcript
Summary
Wall Street bought on the rumor of a Biden win; now selling before it becomes a fact.
Selling will continue even after he wins.
It’s all about the Fed and nobody cares.
Losses will be most pronounced in the bond market.
Fed holding back the cure for the economy.
Under Capitalism, people get rich by helping other people.
Under Socialism, people get rich by controlling other people.
Great buying opportunities in gold mining sector.
Dollar heading into the biggest bear market it’s ever suffered.
Schedule your FREE Product Tour at NetSuite.com/gold
Invest like me: https://schiffradio.com/invest
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
Follow me on Facebook: http://www.Facebook.com/PeterSchiff
Follow me on Twitter: http://www.Twitter.com/PeterSchiff
Follow me on Instagram: https://instagram.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 | The Peter Shifchow. |
| 0:09.0 | Today's episode of the Peter Shifchow Podcast is brought to you by NetSuite, the business |
| 0:14.1 | management software that handles every aspect of your business in an easy-to-use cloud |
| 0:19.4 | platform. |
| 0:20.4 | Schedule your free product tour right now at NetSuite.com slash gold. |
| 0:25.2 | The US stock market just had its worst week since March. |
| 0:30.4 | In fact, if you look at just the second half of October because today was the last trading |
| 0:36.0 | day of the month, this is the biggest decline we've seen in the second half of October |
| 0:42.4 | since 1987. |
| 0:44.7 | And that was the year of the October 87 stock market crash. |
| 0:49.3 | In fact, this is the worst week to proceed a presidential election in the history of |
| 0:57.6 | the stock market. |
| 0:59.2 | Now if you remember, I was talking on my podcast about the possibility that we may have a |
| 1:05.6 | stock market crash in October just when the month began. |
| 1:09.7 | I thought that would make things even more difficult for President Trump to get re-election |
| 1:15.5 | because clearly the stock market was his greatest accomplishment. |
| 1:19.8 | And so anything that jeopardized the stock market rally would also put in doubt his re-electional |
| 1:26.6 | though that's already been in doubt for some time. |
| 1:29.2 | I've been saying that I didn't think Trump was going to get re-elected. |
| 1:32.7 | The polls seem to be confirming that. |
| 1:34.9 | I also thought that it was nonsense that so many people were talking about the fact that |
| 1:41.0 | a Biden win was going to be a positive for the stock market. |
... |
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.