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· Live podcast.Visit https:///indeed.com/peter to start hiring now.Join my Locals community to get The Peter Schiff Show ad-free! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member.Invest like me: https://schiffradio.com/investRATE AND REVIEW 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/newsBuy my newest book at http://www.tinyurl.com/RealCrashFollow me on Facebook: http://www.Facebook.com/PeterSchiffFollow me on Twitter: http://www.Twitter.com/PeterSchiffFollow me on Instagram: https://Instagram.com/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

· Live podcast.Get an extra 3 months. https://expressvpn.com/goldThanks ClearComp. Book a demo at https://clearcomp.com.Join my Locals community to get The Peter Schiff Show ad-free! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member.Invest like me: https://schiffradio.com/investRATE AND REVIEW 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/newsBuy my newest book at http://www.tinyurl.com/RealCrashFollow me on Facebook: http://www.Facebook.com/PeterSchiffFollow me on Twitter: http://www.Twitter.com/PeterSchiffFollow me on Instagram: https://Instagram.com/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

· Live podcast.Go to https://bambee.com and type in Peter Schiff under PODCAST when you sign upJoin my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member.Invest like me: https://schiffradio.com/investRATE AND REVIEW 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/newsBuy my newest book at http://www.tinyurl.com/RealCrashFollow me on Facebook: http://www.Facebook.com/PeterSchiffFollow me on Twitter: http://www.Twitter.com/PeterSchiffFollow me on Instagram: https://Instagram.com/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

· Live podcast.Sign up for a $1/month trial period at https://shopify.com/gold.Visit https://indeed.com/peter to start hiring now.Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member.Invest like me: https://schiffradio.com/investRATE AND REVIEW 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/newsBuy my newest book at http://www.tinyurl.com/RealCrashFollow me on Facebook: http://www.Facebook.com/PeterSchiffFollow me on Twitter: http://www.Twitter.com/PeterSchiffFollow me on Instagram: https://Instagram.com/PeterSchiffPrivacy & Opt-Out: https://redcircle.com/privacy

· Live podcast.Get 15% off your entire order. https://fastgrowingtrees.com/goldJoin my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member.Invest like me: https://schiffradio.com/investRATE AND REVIEW 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/newsBuy my newest book at http://www.tinyurl.com/RealCrashFollow me on Facebook: http://www.Facebook.com/PeterSchiffFollow me on Twitter: http://www.Twitter.com/PeterSchiffFollow me on Instagram: https://Instagram.com/PeterSchiffPrivacy & Opt-Out: https://redcircle.com/privacy

· Live podcast.Try Headspace FREE for 30 days by going to https://headspace.com/gold30dayThanks ClearComp. Book a demo at https://clearcomp.comJoin my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member.Invest like me: https://schiffradio.com/investRATE AND REVIEW 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/newsBuy my newest book at http://www.tinyurl.com/RealCrashFollow me on Facebook: http://www.Facebook.com/PeterSchiffFollow me on Twitter: http://www.Twitter.com/PeterSchiffFollow me on Instagram: https://Instagram.com/PeterSchiffPrivacy & Opt-Out: https://redcircle.com/privacy

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· Live podcast.Cut your wireless bill to $15 a month at https://mintmobile.com/goldJoin my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member.Invest like me: https://schiffradio.com/investRATE AND REVIEW 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/newsBuy my newest book at http://www.tinyurl.com/RealCrashFollow me on Facebook: http://www.Facebook.com/PeterSchiffFollow me on Twitter: http://www.Twitter.com/PeterSchiffFollow me on Instagram: https://Instagram.com/PeterSchiffPrivacy & Opt-Out: https://redcircle.com/privacy

Introduction to a special episode of the Peter Schiff Show. Get the full episode with Q&A https://schiffradio.com/premium/Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member.Invest like me: https://schiffradio.com/investRATE AND REVIEW 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/newsBuy my newest book at http://www.tinyurl.com/RealCrashFollow me on Facebook: http://www.Facebook.com/PeterSchiffFollow me on Twitter: http://www.Twitter.com/PeterSchiffFollow me on Instagram: https://Instagram.com/PeterSchiffPrivacy & Opt-Out: https://redcircle.com/privacy

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· Live podcast.Go to https://bambee.com and type in Peter Schiff under PODCAST when you sign upJoin my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member.Invest like me: https://schiffradio.com/investRATE AND REVIEW 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/newsBuy my newest book at http://www.tinyurl.com/RealCrashFollow me on Facebook: http://www.Facebook.com/PeterSchiffFollow me on Twitter: http://www.Twitter.com/PeterSchiffFollow me on Instagram: https://Instagram.com/PeterSchiffPrivacy & Opt-Out: https://redcircle.com/privacy

· Live podcast and audience Q&A.Get an extra 3 months. https://expressvpn.com/goldSign up for a $1/month trial period at https://shopify.com/goldJoin my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member.Invest like me: https://schiffradio.com/investRATE AND REVIEW 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/newsBuy my newest book at http://www.tinyurl.com/RealCrashFollow me on Facebook: http://www.Facebook.com/PeterSchiffFollow me on Twitter: http://www.Twitter.com/PeterSchiffFollow me on Instagram: https://Instagram.com/PeterSchiffPrivacy & Opt-Out: https://redcircle.com/privacy

· Corrupt media deliberately distorts the truth and lies to the Australian people in order to advance a political agenda that is detrimental to the living standards and freedoms of every Australian.Visit https://indeed.com/peter to start hiring now.Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member.Invest like me: https://schiffradio.com/investRATE AND REVIEW 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/newsBuy my newest book at http://www.tinyurl.com/RealCrashFollow me on Facebook: http://www.Facebook.com/PeterSchiffFollow me on Twitter: http://www.Twitter.com/PeterSchiffFollow me on Instagram: https://Instagram.com/PeterSchiffPrivacy & Opt-Out: https://redcircle.com/privacy

· Strong week for the stock market and gold stocks.· ECB’s inflation goals were asinine.· The Fed will soon break its money losing record.· Debt is going to spiral out of control.· Big money is leaving crypto.· Markets don’t get that inflation isn’t coming down.Thanks Headspace. Try it free for 30 days at https://headspace.com/gold30dayThanks ClearComp. Book a demo at https://clearcomp.comJoin my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member.Invest like me: https://schiffradio.com/investRATE AND REVIEW 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/newsBuy my newest book at http://www.tinyurl.com/RealCrashFollow me on Facebook: http://www.Facebook.com/PeterSchiffFollow me on Twitter: http://www.Twitter.com/PeterSchiffFollow me on Instagram: https://Instagram.com/PeterSchiffPrivacy & Opt-Out: https://redcircle.com/privacy

· The inflation genie is impossible to put back in the bottle.· CPI and PPI are lagging for a number of reasons.· Beaten down stocks of 2022 enjoyed a short-lived dead cat bounce in 2023.· Consumer spending in January surged after a record decline in tax revenue.· The PCE is the most inaccurate way to measure inflation and it’s no coincidence that it’s also the Fed’s favorite way.· The progress the Fed claimed to have made against inflation is already lost.· The inverted yield curve is now even more inverted.Visit https://indeed.com/peter to start hiring now.Cut your wireless bill to $15 a month at https://mintmobile.com/goldJoin my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member.Invest like me: https://schiffradio.com/investRATE AND REVIEW 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/newsBuy my newest book at http://www.tinyurl.com/RealCrashFollow me on Facebook: http://www.Facebook.com/PeterSchiffFollow me on Twitter: http://www.Twitter.com/PeterSchiffFollow me on Instagram: https://Instagram.com/PeterSchiffPrivacy & Opt-Out: https://redcircle.com/privacy

· People who think that we've seen the worst of inflation are wrong. · Surge in credit card debt proves labor market is weak.· Ronald Reagan’s tax system was the closest we’ve been to a flat tax since 1913.· Presidents’ Day is about honoring George Washington, not Joe Biden.Thanks HelloFresh! Go to https://hellofresh.com/gold65 and use code gold65 for 65% off plus free shipping!Thanks ClearComp. Book a demo at https://clearcomp.com.Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member.Invest like me: https://schiffradio.com/investRATE AND REVIEW 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/newsBuy my newest book at http://www.tinyurl.com/RealCrashFollow me on Facebook: http://www.Facebook.com/PeterSchiffFollow me on Twitter: http://www.Twitter.com/PeterSchiffFollow me on Instagram: https://Instagram.com/PeterSchiffPrivacy & Opt-Out: https://redcircle.com/privacy

· Biden putting America in much more vulnerable position with continued selling of strategic oil reserves.· Replacing full-time jobs with part-time jobs is not a sign of a strong labor market.· The National Debt is the same thing as having a National Credit Card.· Politicians claiming to care about Social Security are voting to destroy the value of it.· Gold and silver will take off when investors realize inflation is not going back to 2%.Visit https://indeed.com/peter to start hiring now.Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member.Invest like me: https://schiffradio.com/investRATE AND REVIEW 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/newsBuy my newest book at http://www.tinyurl.com/RealCrashFollow me on Facebook: http://www.Facebook.com/PeterSchiffFollow me on Twitter: http://www.Twitter.com/PeterSchiffFollow me on Instagram: https://Instagram.com/PeterSchiffPrivacy & Opt-Out: https://redcircle.com/privacy

· As an American, Biden’s State of the Union was horrible.· Inflation Reduction Act will increase prices.· Republicans supporting Trump deficits paved the way for Biden deficits.· Biden is cutting Social Security through inflation.· Biden promises to save your pennies while stealing your dollars.· More savings reduces inflation through decreased demand and increased supply.Go to https://bambee.com and type in Peter Schiff under PODCAST when you sign upJoin my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member.Invest like me: https://schiffradio.com/investRATE AND REVIEW 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/newsBuy my newest book at http://www.tinyurl.com/RealCrashFollow me on Facebook: http://www.Facebook.com/PeterSchiffFollow me on Twitter: http://www.Twitter.com/PeterSchiffFollow me on Instagram: https://Instagram.com/PeterSchiffPrivacy & Opt-Out: https://redcircle.com/privacy

· Short covering fuels tech rally.· Good news on the economy is bad news for the market.· Fewer people have full-time jobs today than 10 months ago.· The media is racist.Sign up for a $1/month trial period at https://shopify.com/goldVisit https://indeed.com/peter to start hiring now.Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member.Invest like me: https://schiffradio.com/investRATE AND REVIEW 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/newsBuy my newest book at http://www.tinyurl.com/RealCrashFollow me on Facebook: http://www.Facebook.com/PeterSchiffFollow me on Twitter: http://www.Twitter.com/PeterSchiffFollow me on Instagram: https://Instagram.com/PeterSchiffPrivacy & Opt-Out: https://redcircle.com/privacy

· As expected, the Fed did exactly what was expected.· Gold trades highest it’s been in almost a year.· Government causes inflation, not consumers.· Investors are seeing through the outliers when it comes to stronger economic data.· Congress acts shocked to discover fraud with PPP loans.Thanks Winmond. Visit https://winmond.com to inquire about purchase or a joint venture.Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member.Invest like me: https://schiffradio.com/investRATE AND REVIEW 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/newsBuy my newest book at http://www.tinyurl.com/RealCrashFollow me on Facebook: http://www.Facebook.com/PeterSchiffFollow me on Twitter: http://www.Twitter.com/PeterSchiffFollow me on Instagram: https://Instagram.com/PeterSchiffPrivacy & Opt-Out: https://redcircle.com/privacy

· Weakening dollar will worsen trade deficit.· Fed is nowhere near victory in inflation fight.· Google does not have a monopoly on advertising.· San Francisco wants to incentivize African Americans to commit drug crimes.Get $15 off at Nutrafol.com when you got to https://nutrafol.com/men and use promo code goldJoin my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member.Invest like me: https://schiffradio.com/investRATE AND REVIEW 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/newsBuy my newest book at http://www.tinyurl.com/RealCrashFollow me on Facebook: http://www.Facebook.com/PeterSchiffFollow me on Twitter: http://www.Twitter.com/PeterSchiffFollow me on Instagram: https://Instagram.com/PeterSchiffPrivacy & Opt-Out: https://redcircle.com/privacy

· Growth stock will rollover and make new lows in 2023.· Gold hit new 9 month high on the week.· While tech stocks are rising, their headcounts are falling.· New economic data blows away low-end expectations.· 2023 could be one of the worst years ever for the dollar.· Politicians and central bankers waste public money being hypocrites at Davos.· Netflix documentary on Bernie Madoff proves more regulation won’t help us.Cut your wireless bill to $15 a month at https://mintmobile.com/goldJoin my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member.Invest like me: https://schiffradio.com/investRATE AND REVIEW 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/newsBuy my newest book at http://www.tinyurl.com/RealCrashFollow me on Facebook: http://www.Facebook.com/PeterSchiffFollow me on Twitter: http://www.Twitter.com/PeterSchiffFollow me on Instagram: https://Instagram.com/PeterSchiffPrivacy & Opt-Out: https://redcircle.com/privacy

· The Fed will surrender to inflation in 2023.· Recession will be the Fed’s next battle, and they’ll lose that too.· Inflation is expanding with money supply and credit supply.· Consumers in debt are going out with a bang.· Republican compromises continue to err on the side of big government.Go to https://bambee.com and type in Peter Schiff under PODCAST when you sign upJoin my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member.Invest like me: https://schiffradio.com/investRATE AND REVIEW 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/newsBuy my newest book at http://www.tinyurl.com/RealCrashFollow me on Facebook: http://www.Facebook.com/PeterSchiffFollow me on Twitter: http://www.Twitter.com/PeterSchiffFollow me on Instagram: https://Instagram.com/PeterSchiffPrivacy & Opt-Out: https://redcircle.com/privacy

· Investment rotation continues into value, international, emerging markets, and precious metals.· Precious metals mining stocks are best performing sector of 2023 so far.Expect a breakdown in the dollar and an even bigger breakout in mining stocks.· Bitcoin is sliding a slope of hope.· NY Attorney General files civil charges on Alex Mashinsky for Celsius fraud.Sign up for a $1/month trial period at https://shopify.com/goldJoin my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member.Invest like me: https://schiffradio.com/investRATE AND REVIEW 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/newsBuy my newest book at http://www.tinyurl.com/RealCrashFollow me on Facebook: http://www.Facebook.com/PeterSchiffFollow me on Twitter: http://www.Twitter.com/PeterSchiffFollow me on Instagram: https://Instagram.com/PeterSchiffPrivacy & Opt-Out: https://redcircle.com/privacy

· 2023 is gearing up for a lot of volatility and weakness in the stock market.· 2023 stock market highs may have already been made.· NASDAQ stocks will implode when Cathie Wood turns from being biggest buyer to biggest seller.· 2023 will likely be the year Bitcoin collapses and gold shines.Get an extra 3 months. https://expressvpn.com/gold.Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member.Invest like me: https://schiffradio.com/investRATE AND REVIEW 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/newsBuy my newest book at http://www.tinyurl.com/RealCrashFollow me on Facebook: http://www.Facebook.com/PeterSchiffFollow me on Twitter: http://www.Twitter.com/PeterSchiffFollow me on Instagram: https://Instagram.com/PeterSchiffPrivacy & Opt-Out: https://redcircle.com/privacy

· Everyone realizes recession is coming, but nobody realizes how bad it will be.· Too many people are getting rich off war in Ukraine for there to be a chance of peace.· Gold and silver mining stocks are at the beginning of a bull market.· Institutional interest in Bitcoin is gone.· Bank of Japan has now joined the tightening party.Go to https://bambee.com and type in Peter Schiff under PODCAST when you sign upGo to https://shopify.com/gold for a FREE trial.Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member.Invest like me: https://schiffradio.com/investRATE AND REVIEW 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/newsBuy my newest book at http://www.tinyurl.com/RealCrashFollow me on Facebook: http://www.Facebook.com/PeterSchiffFollow me on Twitter: http://www.Twitter.com/PeterSchiffFollow me on Instagram: https://Instagram.com/PeterSchiffPrivacy & Opt-Out: https://redcircle.com/privacy

· The days of low inflation are over.· Jerome Powell threw cold water on investors’ hope.· Terminal rate of interest continues higher.· Mr. Schiff Goes to Washington: https://youtu.be/mANOqcnLtqA· Mr. Schiff Returns to Washington: https://youtu.be/UvMGHzB37loGet an extra 3 months. https://expressvpn.com/gold.Go to https://shopify.com/gold for a FREE trial.Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member.Invest like me: https://schiffradio.com/investRATE AND REVIEW 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/newsBuy my newest book at http://www.tinyurl.com/RealCrashFollow me on Facebook: http://www.Facebook.com/PeterSchiffFollow me on Twitter: http://www.Twitter.com/PeterSchiffFollow me on Instagram: https://Instagram.com/PeterSchiffPrivacy & Opt-Out: https://redcircle.com/privacy

· 2023 will see a new high-water mark in producer prices.· Declining Coinbase stock is an ominous sign for crypto market.· Kevin O’Leary is culpable in the FTX scam.· Americans on the hook for Teamsters pensions.Thanks Raycon! For a limited time, go to https://buyraycon.com/gold and use code HOLIDAY for 15% off your entire Raycon order.Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member.Invest like me: https://schiffradio.com/investRATE AND REVIEW 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/newsBuy my newest book at http://www.tinyurl.com/RealCrashFollow me on Facebook: http://www.Facebook.com/PeterSchiffFollow me on Twitter: http://www.Twitter.com/PeterSchiffFollow me on Instagram: https://Instagram.com/PeterSchiffPrivacy & Opt-Out: https://redcircle.com/privacy

· Weakening economy will expand inflation· Bitcoin is building a trapdoor, not a bottom.· Jobs under Biden were returned, not created.Cut your wireless bill to $15 a month. For a limited time, buy any 3-month Mint Mobile plan and get 3 more months FREE at https://mintmobile.com/goldJoin my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member.Invest like me: https://schiffradio.com/investRATE AND REVIEW 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/newsBuy my newest book at http://www.tinyurl.com/RealCrashFollow me on Facebook: http://www.Facebook.com/PeterSchiffFollow me on Twitter: http://www.Twitter.com/PeterSchiffFollow me on Instagram: https://Instagram.com/PeterSchiffPrivacy & Opt-Out: https://redcircle.com/privacy

· New jobs created indicate a weak labor market.· Manufacturing is as weak now is it was in the worst part of the covid pandemic.· 2023 will be an explosive year for gold and silver.Go to https://fountainheadme.com/peter for a free analysis that will tell you how to be more profitable selling products online.Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member.Invest like me: https://schiffradio.com/investRATE AND REVIEW 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/newsBuy my newest book at http://www.tinyurl.com/RealCrashFollow me on Facebook: http://www.Facebook.com/PeterSchiffFollow me on Twitter: http://www.Twitter.com/PeterSchiffFollow me on Instagram: https://Instagram.com/PeterSchiffPrivacy & Opt-Out: https://redcircle.com/privacy

· The next leg down in the dollar and the next leg up in gold may be here.· High interest rates creating a glut of sellers and a lack of buyers in housing.· 2023 will be the year that the air finally comes out of the Bitcoin bubble.Visit https://indeed.com/peter to start hiring now.Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member.Invest like me: https://schiffradio.com/investRATE AND REVIEW 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/newsBuy my newest book at http://www.tinyurl.com/RealCrashFollow me on Facebook: http://www.Facebook.com/PeterSchiffFollow me on Twitter: http://www.Twitter.com/PeterSchiffFollow me on Instagram: https://Instagram.com/PeterSchiffPrivacy & Opt-Out: https://redcircle.com/privacy

· Dubai is a world leader in economic freedom. · Financial media will ignore gold stocks until they’ve tripled. · More fraud happens under regulation than without. Go to https://shopify.com/gold for a FREE trial. Get an extra 3 months Free on a one year package. https://expressvpn.com/gold Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffPrivacy & Opt-Out: https://redcircle.com/privacy

· More economic data confirms we’re in a recession. · Republicans gain control of the purse strings. · Sam Bankman-Fried’s FTX was a crypto Ponzi scheme. · If you’re still holding Bitcoin, you’re the bag holder. Go to https://shopify.com/gold for a FREE trial. Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffPrivacy & Opt-Out: https://redcircle.com/privacy

· Investors being lulled into false sense of security. · More higher income shoppers turning to Walmart. · FTX dominos continue falling. · Donald Trump is running for president. Thanks Ladder. Go to https://ladderlife.com/gold today to see if you’re instantly approved. Get an extra 3 months. https://expressvpn.com/gold. Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffPrivacy & Opt-Out: https://redcircle.com/privacy

· CPI data sends stocks and bonds soaring, while dollar tanks. · Moves of magnitude in gold suggest something significant is going on. · Junior mining stocks are in a stealth bull market. · Sweden is handling inflation far more responsibly than America. · Only vote your conscience when there are no consequences. · FTX turns out to be a Ponzi scheme perpetuating a house of cards in crypto. Visit https://indeed.com/peter to start hiring now. Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffPrivacy & Opt-Out: https://redcircle.com/privacy

· Commodities break out of their bear market corrections. · Tech stocks collapsing further. · Smart money is buying gold mining stocks. · Labor force participation rate has declined despite extra jobs. Cut your wireless bill to $15/month at https://mintmobile.com/gold Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffPrivacy & Opt-Out: https://redcircle.com/privacy

· Federal Reserve raises interest rates again as expected. · Markets spooked as Jerome Powell dropped bombshells in Fed meeting. · Biden administration gets fact checked and deletes tweet. · Weakness in the stock market will continue on after the election. Visit https://indeed.com/peter to start hiring now. Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffPrivacy & Opt-Out: https://redcircle.com/privacy

· Dow has best October in its history. · Rotation continues from growth to value stocks. · Market is priced for perfection with anything but perfect circumstances. · Inflation will never go back to 2% · Amazon, Apple, and Netflix disappoint investors. · Meta and Alphabet hurt by dried up advertising. · Consumers need to save now and buy later, not buy now and pay later. · Elon Musk buys Twitter and thanks Peter Schiff. Get an extra 3 months. https://expressvpn.com/gold. Visit https://indeed.com/peter to start hiring now. Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffPrivacy & Opt-Out: https://redcircle.com/privacy

· Interest rates are the Achilles’ heel of this bubble economy. · Shelter costs are going up, even if housing prices are going down. · Gold will be gaining value as the dollar loses value. Go to https://shopify.com/gold for a FREE trial. Thanks Ladder. Go to https://ladderlife.com/gold today to see if you’re instantly approved. Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffPrivacy & Opt-Out: https://redcircle.com/privacy

· High inflation is here to stay. · Biden shifts the blame for high oil prices on to Putin. · Financial intervention and bailouts are simple politics. · The stock market is far away from the bottom. · Netflix and Tesla are expensive stocks. · Markets will react before the Fed has a chance to pivot. Go to https://shopify.com/gold for a FREE trial. Join me at the Traders Summit online October 21-23 where I’ll be debating a former Bank of England policy maker. Free registration at https://tradersummit.net/event-oct-2022/?ref=1019 Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffPrivacy & Opt-Out: https://redcircle.com/privacy

· CPI numbers worse than investors feared. · Less younger people working while more older people retiring is bad news for Social Security Ponzi scheme. · Selling British Pounds for American Dollars is jumping from the frying pan into the fire. · I’ll be debating a former Bank of England policy maker on October 22nd. Free registration at https://tradersummit.net/event-oct-2022/?ref=1019 · Bitcoin teetering on the edge of collapse. · Precious metals holding up better than stock market, even as gold is being given away at bargain prices. Get an extra 3 months. https://expressvpn.com/gold Visit https://indeed.com/peter to start hiring now. Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffPrivacy & Opt-Out: https://redcircle.com/privacy

· Bank of England has Wall Street questioning the Fed. · Consumers are spending and borrowing more than ever. · Oil prices rise on OPEC+ production decrease. · Bitcoin is very close to a major collapse. · Michael Saylor is harming more investors than Kim Kardashian. · Bond investors still don’t believe inflation is here to stay. Cut your wireless bill to $15/month at https://mintmobile.com/gold Thanks Raycon!. For a limited time, go to https://buyraycon.com/gold for up to 15% off your entire Raycon order. Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffPrivacy & Opt-Out: https://redcircle.com/privacy

· Peter Schiff does a live update on the markets, particularly gold and silver prices, plus takes listener questions. Go to Bambee.com and type in Peter Schiff under PODCAST when you sign up Thanks Ladder. Go to ladderlife.com/gold today to see if you’re instantly approved. Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffPrivacy & Opt-Out: https://redcircle.com/privacy

· Market has worst monthly drop since covid began, and worst September since 2008. · Carnival Cruise sinking like the Titanic. · CNBC finally starts criticizing Cathie Wood. · Anyone one who dropped gold for Grayscale has lost tremendously. · Puerto Rico needs relief from government, not hurricanes. Visit https://indeed.com/peter to start hiring now. Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffPrivacy & Opt-Out: https://redcircle.com/privacy

· Bank of England commits to another QE Infinity. · Inflation is here to stay for the British. · Reversals in the dollar and gold may mark key turning points. Thanks https://rocketmoney.com/gold. It could save you hundreds a year. Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffPrivacy & Opt-Out: https://redcircle.com/privacy

· Huge job losses will lead to imploding earnings and exploding debt service costs. · Gold proving to be an excellent store of value in many currencies. · Fed will pivot to postpone financial crisis Get an extra 3 months. https://expressvpn.com/gold. Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffPrivacy & Opt-Out: https://redcircle.com/privacy

· Jerome Powell delivers exactly what the market expects. · State governments’ cash will be depleted. · Ethereum traders bought the rumor and sold the fact. · The Fed will always choose inflation over deflation. Visit https://indeed.com/peter to start hiring now. Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffPrivacy & Opt-Out: https://redcircle.com/privacy

· Big losses following Suckers Rally in Bitcoin and stock market. · The Fed will pivot when the economy starts to buckle. · Atlanta Fed lowers their estimates for Q3 GDP. · Silver may be showing a silver lining in gold’s cloud. · We’re likely nowhere near a bottom in the stock market. · One of these Mondays will be a Black Monday. · Bond market may crash harder than stocks. · Bond market crash has implications well beyond the stock market. Thanks Ladder. Go to https://ladderlife.com/gold today to see if you’re instantly approved. Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffPrivacy & Opt-Out: https://redcircle.com/privacy

· Stock market has its biggest crash since 2020 covid lockdowns. · Food prices see biggest year over year increase since 1979. · Bitcoin gets smoked. · Fed needs to make some hard political decisions if it wants to stop inflation. · Get exposure to gold now before the entry point is a lot higher. Go to https://shopify.com/gold for a FREE fourteen-day trial and get full access to Shopify’s entire suite of features. Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffPrivacy & Opt-Out: https://redcircle.com/privacy

· ECB hikes rates as Europe’s inflation outpaces the U.S. · Powell admits we’re on an unsustainable fiscal path. · The Fed is not a friend of the public. It’s the enemy. · U.K. government will make their energy crisis worse. · No new money is going into crypto. Visit https://indeed.com/peter to start hiring now. Cut your wireless bill to $15/month at https://mintmobile.com/gold Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffPrivacy & Opt-Out: https://redcircle.com/privacy

· Inflation’s day of reckoning can’t be postponed much longer. · Markets show risk of a Black Tuesday. · More Bitcoin sellers above $20k than buyers below it. · Gold bucking the downtrend in stocks. · Higher unemployment data surprises markets. · Putin understands the global inflation problem is the fault of the Fed and ECB. · Biden gives dishonest and divisive speech in Philadelphia. Get an extra 3 months. https://expressvpn.com/gold. Visit https://indeed.com/peter to start hiring now. Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffPrivacy & Opt-Out: https://redcircle.com/privacy

· Consumers have misplaced confidence. · Job hirings shrink as job openings grow. · Jeremy Siegel, Becky Quick, and Joe Biden compete for most ridiculous inflation comment. · Los Angeles liberals’ virtue signaling reaches new level of idiocy. Go to https://shopify.com/gold for a FREE fourteen-day trial and get full access to Shopify’s entire suite of features. Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffPrivacy & Opt-Out: https://redcircle.com/privacy

· Jerome Powell no longer believes the economy will have a soft landing. · Joe Biden is creating severe moral hazards with student loan forgiveness. · Most unsold new homes on the market since aftermath of financial crisis. · Service sector is at its weakest since the depths of covid lockdowns. · More consumers are relying on savings and debt. · A Black Monday is possible. · Bond market investors are clueless to the reality of inflation. Thanks Ladder. Go to https://ladderlife.com/gold today to see if you’re instantly approved. Businesses only pay for quality applications matching the sponsored job description. Visit https://indeed.com/peter to start hiring now. Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

· 4-week winning streak for S&P comes to an end. · Investors chasing momentum. · Not-as-weak is the new strong. · Mortgage applications at their lowest since aftermath of dot com bubble. Thanks Raycon! For a limited time, go to https://buyraycon.com/gold for up to 15% off your entire Raycon order. Go to https://shopify.com/gold for a FREE fourteen-day trial and get full access to Shopify’s entire suite of features. Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

· NASDAQ loses steam. · Rising gold and silver propels mining stocks. · Food prices increased faster than any month since 1979. · Consumer sentiment among Democrats tumbled to a two-year low. · The Jones Act hurts everyone except the owners of certain ships. Businesses only pay for quality applications matching the sponsored job description. Visit https://indeed.com/peter to start hiring now. Cut your wireless bill to $15/month at https://mintmobile.com/gold Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

· Wall Street parties on CPI data release. · Minimum wage is bad economics. · Democrats prepare to shakedown the middle class while protecting the billionaires and millionaires. Get an extra 3 months. https://expressvpn.com/gold Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

· Jobs report evidences a weak, not strong, economy. · Putin delivered price cuts, not price hikes. · Going into debt is not a sign of prosperity. · More people jobless than ever before. · Gold market shows strength. Businesses only pay for quality applications matching the sponsored job description. Visit https://indeed.com/peter to start hiring now. Thanks Ladder. Go to https://ladderlife.com/gold today to see if you’re instantly approved. Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

· Treasury yields surge. · Fed forgets about inflation averaging. · Households take on all time record debt. · Nominal wages are going up, but real wages are collapsing. · China can do more damage to our economy without harming Nancy Pelosi. · Buy gold before the Chinese beat you to it. Go to https://bambee.com/gold to schedule your FREE HR audit. Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

· U.S. goes into recession; Biden and Fed deny it. · Media goes along with redefining recession. · The Inflation Reduction Act will increase inflation. · Forex and gold investors finally figuring things out. · Bond investors still clueless. Thanks Ladder. Go to https://ladderlife.com/gold today to see if you’re instantly approved. Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

· Fed meets market expectations with 75 basis point rate hike. · Jerome Powell sidesteps recession questions. · Walmart confirms consumer weakness. · Gold may have found a bottom. · Gold miners rally. · Any rally in Bitcoin is a selling opportunity. Businesses only pay for quality applications matching the sponsored job description. Visit https://indeed.com/peter to start hiring now. Terms and conditions apply. Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://peterschiff.locals.com/ to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

· More data pointing to a worsening economy. · ECB hikes rates for first time in 11 years. · Dollar looks to have topped out. · Gold looks to have bottomed. · Tech companies hurting as advertisers flee. Get an extra 3 months. https://expressvpn.com/gold Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://peterschiff.locals.com/ to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

· U.S. stock markets rally. · Home builder sentiment will go from new highs to new lows. · Elon Musk dumps Bitcoin. · Taxes in California are higher than Sweden. · American standard of living has declined since the 1960’s. Businesses only pay for quality applications matching the sponsored job description. Visit https://indeed.com/peter to start hiring now. Terms and conditions apply. Go to https://shopify.com/gold for a FREE fourteen-day trial and get full access to Shopify’s entire suite of features. Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://peterschiff.locals.com/ to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

· Consumer prices reported hotter than expected. · Dollar is rising on the greater fool theory. · Inflation is not a product of expectations. · It's good politics to talk about fighting inflation. It's horrible politics to actually fight it. · Investors sheltering in the U.S. dollar abroad are in for a rude awakening. Businesses only pay for quality applications matching the sponsored job description. Visit https://indeed.com/peter to start hiring now. Terms and conditions apply. Cut your wireless bill to $15/month at https://mintmobile.com/gold Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://peterschiff.locals.com/ to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

· Inflation is soaring across the world. · U.S. monetary and fiscal policies are at odds with each other. · Motor vehicle repair costs have highest increase since the 1974. · Dollar rises as gold tanks. · Gold stocks are at bargain prices. · Don’t fall for bait and switch scams from gold and silver dealers. Thanks Raycon! For a limited time, go to https://buyraycon.com/gold for up to 15% off your entire Raycon order. Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://peterschiff.locals.com/ to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

· Dollar strengthened and gold tanked. · Needing a second crappy job is not good news for the economy. · Shinzo Abe was assassinated before he could be held accountable for his disastrous economic policies. · Peter Schiff was right about Elon Musk’s Twitter bluff. · Bitcoin big shot advocates for government regulation against alt coin competitors. Thanks https://truebill.com/gold. It could save you hundreds a year. Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://peterschiff.locals.com/ to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

· Atlanta Fed blindsided with negative GDO numbers. · Labor force participation rate near its lows. · Biden’s approval rating reaches new low. · Gold investments will pay off big. Go to https://shopify.com/gold for a FREE fourteen-day trial and get full access to Shopify’s entire suite of features. Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://peterschiff.locals.com/ to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

· Gold less volatile than stock market indexes. · Bitcoin more volatile than stock market indexes. · Rising interest rates pushing up deficit. · Abortion laws should be left to the states. · Democrats are only pro-choice when it comes to abortions. · The Patriot Act should have been called the Anti-Privacy Act. Thanks Ladder. Go to https://ladderlife.com/gold today to see if you’re instantly approved. Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://peterschiff.locals.com/ to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

· Dow Jones just did something it hasn't done since the great depression. · Rates in the UK and Japan headed higher. · Weakness and volatility in crypto markets. · Government moves to ban Juul vapes. · Jerome Powell uses politics as an excuse. Free $75 credit to boost your post at https://indeed.com/peter. Plus earn up to $500 extra in sponsored job credits with Indeed’s Virtual Interviews.Terms and conditions apply. Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://peterschiff.locals.com/ to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

· Fed makes biggest rate hike move in 28 years. · Powell makes excuses for Fed’s role in causing inflation. · Credit card debt at all time high while credit card interest surges. · Atlanta Fed predicts zero growth for second quarter. · Green New Deal Democrats should embrace higher oil prices. · Gold shows strong support at $1800. · CNBC gives Michael Saylor a podium to keep pumping Bitcoin. Thanks, Tommy John Get 20% off your 1st order https://tommyjohn.com/gold. See site for details. Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://peterschiff.locals.com/ to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

· Dow is now the only major index not in a bear market. · Bitcoin and Ethereum have a Black Monday. · Highest inflation in US history will be game changer for dollar and precious metals. · Google settles frivolous lawsuit. · Bitcoin pumpers lower the bar. · Celsius crypto accounts frozen. Go to https://shopify.com/gold for a FREE fourteen-day trial and get full access to Shopify’s entire suite of features. Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://peterschiff.locals.com/ to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

· Inflation beat expectations by a wide margin. · Consumers more pessimistic now than in depth of Covid lockdowns. · CNBC ridicules David Einhorn for recommending gold investing. · Investors selling both the rumor and the fact. · Christine Lagarde said nothing hawkish. · Recession will kick inflation into a new gear. · Gold stocks unexpected victim of inflation. · Government causes inflation, not prices. · Putin calls out Biden for lying about price hikes. Free $75 credit to boost your post at https://indeed.com/peter. Plus earn up to $500 extra in sponsored job credits with Indeed’s Virtual Interviews. Terms and conditions apply. Cut your wireless bill to $15/month at https://mintmobile.com/gold Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://peterschiff.locals.com/ to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

· Food prices headed higher. · Energy prices headed higher. · Chief is not an offensive word to Native Americans. · Inflation is not the private sector’s fault Get an extra 3 months. https://expressvpn.com/gold Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://peterschiff.locals.com/ to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

· Encouraging action in gold stocks. · America has never been in a weaker position to fight inflation. · Busts are the solution to artificial booms. Thanks to The Jeffrey Verdon Law Group. Go to https://jmvlaw.com by 7/15 and mention my name for 50% off your initial consultation. Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://peterschiff.locals.com/ to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

· Investors come back selling. · Crypto among worst performers of May. · Gold stocks are in a buying opportunity. · Germany is the key to the European Union. · Biden outlines a plan for fighting inflation. · Oil will continue spiking because of Biden, not Putin. Thanks to The Jeffrey Verdon Law Group. Go to https://jmvlaw.com by 7/15 and mention my name for 50% off your initial consultation. Thanks https://truebill.com/gold. It could save you hundreds a year. Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://peterschiff.locals.com/ to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

· Bull trap fooling investors. · Bitcoin did not participate in the rally. · Homeowners will make money as debtors. · The Fed postponing recession will result in decades of inflation. Thanks https://avast.com! Go to https://shopify.com/gold for a FREE fourteen-day trial and get full access to Shopify’s entire suite of features. Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://peterschiff.locals.com/ to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

· Dow on its longest losing streak in 100 years. · Snapchat implodes. · Gap and Abercrombie & Fitch investors learn a hard lesson. · Inflation can no longer be solved with higher interest rates. · Even rigged CPI can’t hide rising prices now. · Ruble strength proves sanctions didn’t work. · Bitcoin shows surprising resilience... for now. Free $75 credit to boost your post at https://indeed.com/peter. Terms and conditions apply. Offer good for a limited time Get $300 off and FREE shipping at https://liveouter.com/gold Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://peterschiff.locals.com/ to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

· Dow and S&P see biggest drop since the pandemic. · Walmart was the jab. Target was the knockout punch. · Swiss Franc and Japanese Yen show strength. Thanks to The Jeffrey Verdon Law Group. Go to https://jmvlaw.com and mention my name for 50% off your initial consultation. Go to https://shopify.com/gold for a FREE fourteen-day trial and get full access to Shopify’s entire suite of features. Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://peterschiff.locals.com/ to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

· Americans are spending more, but buying less. · Jeff Bezos calls out Joe Biden. · Businesses are absorbing costs, not gouging prices. · Ben Bernanke is right about Bitcoin. · Brace yourself for an economic crash. Thanks to The Jeffrey Verdon Law Group. Go to https://jmvlaw.com and mention my name for 50% off your initial consultation. Thanks, Tommy John Get 20% off your 1st order https://tommyjohn.com/gold. See site for details. Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://peterschiff.locals.com/ to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

· More downside to go as investors panic buy stocks. · Robinhood will ultimately go bankrupt. · Jerome Powell gets reappointed as Fed chair. · Consumers are borrowing more, despite rate hikes. · Oil positioning for a big move up. Thanks to The Jeffrey Verdon Law Group. Go to https://jmvlaw.com and mention my name for 50% off your initial consultation. Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://peterschiff.locals.com/ to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

· Gold and silver remain strong while gold and silver miners continue caving. · Lisa Cook was not the most qualified person for the FOMC. · Neel Kashkari had a Freudian slip. · Companies are imploding and massive layoffs are coming. · Crypto is collapsing. Thanks Ladder. Go to https://ladderlife.com/gold today to see if you’re instantly approved. Free $75 credit to boost your post at https://indeed.com/peter. Terms and conditions apply. Offer good for a limited time Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://peterschiff.locals.com/ to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

· Investors resorted to indiscriminate selling amidst today’s carnage. · The Fed can’t do the impossible. · Housing foreclosures will go through the roof. · Covid shutdowns were just a dress rehearsal for what’s coming next. · Weak hands sold precious metals today. Thanks to The Jeffrey Verdon Law Group. Go to https://jmvlaw.com and mention my name for 50% off your initial consultation. Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://peterschiff.locals.com/ to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

· Stock market gets clobbered. · Crypto market gets clobbered. · Markets still closer to the top than the bottom. · Productivity sees biggest drop since 1947. · We may already be in an inflationary depression. Thanks https://avast.com! Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://peterschiff.locals.com/ to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

· Fed raises benchmark interest rates higher than it has in 20 years. · Lyft stock hits 52 week low. · Jerome Powell admires Paul Volcker, but not for his policies. · New York Times argues for less courage and more cowardice. Get an extra 3 months. https://expressvpn.com/gold Cut your wireless bill to $15/month at https://mintmobile.com/gold Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://peterschiff.locals.com/ to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

· NASDAQ has worst first 4 months since 1971. · S&P has worst first 4 months since 1939. · FANG stocks enter bear market. · Prices increasing faster than wages. · Cathie Wood is the guru of mindless meme stock investing. · Bitcoin HODLers are deer staring into the headlights of a Mack truck. Go to https://shopify.com/gold for a FREE fourteen-day trial and get full access to Shopify’s entire suite of features. Thanks Athletic Greens. Go to https://athleticgreens.com/peter to get a FREE 1 year supply of immune-supporting Vitamin D AND 5 FREE travel packs with your first purchase. Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://peterschiff.locals.com/ to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

· Mortgage are rates too high for anyone to refinance for better rates. · Markets rally on horrific economic news. · Russia ranks higher than Ukraine in economic freedom. Go to https://bambee.com/gold to schedule your FREE HR audit. Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://peterschiff.locals.com/ to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

· Elon Musk buys Twitter. · NASDAQ has weakest day since September of 2020. · Indonesia bans palm oil exports. · Bad politics are good for the economy. Go to https://novo.co/gold and get your FREE business checking account Get $300 off and FREE shipping at https://liveouter.com/gold Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://peterschiff.locals.com/ to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

· Jerome Powell triggers market selloff after IMF roundtable comments. · Higher inflation is lowering the minimum wage’s barrier of entry. · Bill Ackman loses almost half a billion dollars on his recent Netflix bet. · Bitcoin will crash hard once Paul Tudor Jones bails on it. · Elon Musk’s Twitter funding is dangerous for Tesla’s stock. · Cathie Wood’s ARK Innovation Fund may hit new lows on Monday. · Loses are just getting started in Anthony Scaramucci’s Skybridge funds. · FOMC egos are the only thing bigger than the economic bubble. · Gold bull market is being birthed as crypto bull market dies. Thanks Ladder. Go to https://ladderlife.com/gold today to see if you’re instantly approved. Thanks StoryWorth. Get $10 off your first purchase at https://storyworth.com/gold Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://peterschiff.locals.com/ to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

· Netflix loses subscribers. · Incomes are collapsing at an unprecedented rate. · We're probably in a bear market that will last at least a decade. · Slow motion disaster is playing out in Japan. · Sanctions may end up benefiting Russia. Free $75 credit to boost your post at https://indeed.com/peter. Terms and conditions apply. Offer valid through 4/30/22 Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://peterschiff.locals.com/ to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

· If the bond market doesn’t crash, the stock market will. · Weakness continues in tech and crypto. · Gold and silver mining stocks show strength. · We’ve never had this much inflation and the Fed has never been this far behind the curve. · Elon Musk is bluffing. Thanks https://avast.com! Go to https://shopify.com/gold for a FREE fourteen-day trial and get full access to Shopify’s entire suite of features. Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://peterschiff.locals.com/ to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Inflation is double what the Fed admits. * March budget deficit is quadruple consensus expectations. * Bitcoin struggles. * The retired won’t be able to stay retired much longer. * Dollar outlier signals its last hurrah. Thanks Tommy John Get 20% off your 1st order https://tommyjohn.com/gold. See site for details. Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://peterschiff.locals.com/ to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Bond bulls haven’t thrown in the towel yet. * Biden wants to expand Obamacare. * Bitcoin moves from diamond hands to paper hands. Get an extra 3 months. https://expressvpn.com/gold Thanks Ladder. Go to https://ladderlife.com/gold today to see if you’re instantly approved Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://peterschiff.locals.com/ to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* You can't have normal interest rates unless you have normal inflation. * Politicians are pandering to crypto enthusiasts. * Peter Thiel delivers pie in the sky speech at Miami Bitcoin Conference. * The only time government can do good, is when it undoes bad things it’s previously done. * The constitution doesn’t authorize the federal government to ban marijuana or any other drugs. Free $75 credit to boost your post at https://indeed.com/peter. Terms and conditions apply. Offer valid through 4/30/22 Cut your wireless bill to $15/month at https://mintmobile.com/gold Join me and other world class speakers on the Traders Summit live online conference 8th-10th April! Register FREE here with one click: https://tradersummit.net/event-2022/?ref=1012 Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://peterschiff.locals.com/ to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Bond market continues getting beaten up. * Lael Brainard spooks the markets with sudden hawk talk. * When you live in a glass White House, don’t throw stones. * Sanctions created a bottom and bull market for the Russian ruble. Join me and other world class speakers on the Traders Summit live online conference 8th-10th April! Register FREE here with one click: https://tradersummit.net/event-2022/?ref=1012 Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit https://peterschiff.locals.com/ to become a member. Invest like me: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Fools bought the dip in March. * Don’t wait to sell in May and go away. * Cathie Wood turns down debate invitation. * Meme stocks pumped, peaked, and dumped. * Dollar’s tailwind in Q1 will become a headwind in Q2. * Bonds suffer their worst quarter in 40 years. * Commodities experience their best quarter in 32 years. * America is headed for stagflation. Go to https://bambee.com/gold to schedule your FREE HR audit. Thanks Athletic Greens. Go to https://athleticgreens.com/peter to get a FREE 1 year supply of immune-supporting Vitamin D AND 5 FREE travel packs with your first purchase. INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Europe has a serious inflation problem. * The ECB says the cost of living isn’t rising fast enough. * Politicians and central bankers are using covid and Putin as scapegoats for inflation. * The bigger the government, the bigger the problems. * Gold and oil react to peace talks in Ukraine. Get $300 off and FREE shipping at https://liveouter.com/gold INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Japanese will pay higher taxes, officially or through inflation. * All bonds, not just treasuries, will fall in price. * Biden calls for new wealth tax. Thanks https://avast.com! Thanks Ladder. Go to https://ladderlife.com/gold today to see if you’re instantly approved. INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Bond market has worst quarter since 1980. * Recession will not take care of inflation. * Mortgage rates will double far sooner than income. * Gold stocks outperforming tech stocks is a sign of things changing. * Biden will prolong the Russian invasion to scapegoat inflation crisis. * Ukraine is fighting for sovereignty, not freedom. * Idiot reporter asks Biden stupidest question ever. Thanks https://avast.com! Go to https://athleticgreens.com/peter to get a FREE 1 year supply of immune-supporting Vitamin D AND 5 FREE travel packs with your first purchase. INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Stocks are going up and down while gold is just going up. * Bond prices are a function of government intervention and nothing else. * Bitcoin, tech, and meme stocks caught up in bear market rally. * Democrats’ Gas Rebate Act will fuel the inflation fire. Go to https://novo.co/gold and get your FREE business checking account INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Everything-is-awesome attitude won’t last long much longer. * Stagflation is here. * This round of QE won’t be like the last 4. * The economy has never been as addicted to cheap money as it is now. * Bond investors will begin to realize that bonds are mispriced. * We’ve been making our inflation bed for years and now it’s time to lay in it. Free $75 credit to boost your post at https://indeed.com/peter. Terms and conditions apply. Offer valid through 3/31/22. Thanks https://truebill.com/gold. it could save you hundreds a year. INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Investors buy the fact after selling the rumor. * Fed will raise rates until it can’t. * The emperor’s new clothes is Zelensky’s t-shirt. Thanks Tru Niagen. Save 20% on your first purchase at https://truniagen.com/peter with code PETER Go to https://shopify.com/gold for a FREE fourteen-day trial and get full access to Shopify’s entire suite of features. INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Elizabeth Warren blames covid and corporations for problems caused by Congress. * Bond market thinks the recession will cure inflation; it won't. * Congressional staffers get a huge pay raise, paid by taxpayers. * Small rate hikes will hurt the stock market, not the gold market. * Fed is doing the minimum it can get away with to try to save face. * You live by low interest rates, you die by high interest rates. One-of-a-kind financing program at https://netsuite.com/gold Thanks https://avast.com! INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Record highs coming for oil. * Dollar rallies into its last hurrah. * Don’t throw stones when you live in a glass White House. * Consumers wrongfully expecting inflation relief. * Russia is not causing inflation, the U.S. government is. * Biden is interfering with job creation, not improving it. * Inflation is one of the few things still made in America. Go to https://novo.co/gold and get your FREE business checking account. https://babbel.com promo code GOLD to get 3 additional months when you purchase a 3 month subscription. INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Joe Biden’s executive order will hurt Bitcoin. * Elizabeth Warren has a deep seated hatred for Bitcoin. * Biden displays cringe level hypocrisy on oil companies. * Gold miners will make far more money than investors think. * Watch out for gold scams. Get an extra 3 months. https://expressvpn.com/gold. Thanks Ladder. Go to https://ladderlife.com/gold today to see if you’re instantly approved. INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Biden bans Russian imports. * Oil push higher. * Dow enters into correction territory. * S&P plunges deeper into correction. * Russell 2000 and NASDAQ enter bear markets. * Gold hits new all time high. * US economy hemorrhaging red ink. * Bitcoin is setting up for a crash to zero. Free $75 credit to boost your post at https://indeed.com/peter. Terms and conditions apply. Offer valid through 3/31/22 Cut your wireless bill to $15/month at https://mintmobile.com/gold INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* China will begin selling more US dollars and treasuries. * Food and energy prices surge. * Biden’s State of the Union was misinformation. * Jerome Powell skips SOTU to prepare his own lies. Thanks Ladder. Go to https://ladderlife.com/gold today to see if you’re instantly approved. INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Russian economy gets cut off from the world. * Russian stocks obliterated. * Investors should stop questioning gold and start buying it. * Russia will replace Covid as the Fed’s scapegoat. * As the streets get bloodier, the opportunities get bigger. Thanks https://avast.com! INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Democrats hate the constitution. * The constitution doesn’t need to be interpreted. * Republics protect the minority from the majority. * Founding fathers warned of the evils of democracy. * You can’t have liberty in a democracy, but you can in a republic. * The constitution was written to protect against democracy. * The government that governs best, governs least. Go to https://bambee.com/gold to schedule your FREE HR audit. Thanks https://avast.com! INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Russian stock market loses big. * Gold’s bullish story strengthens. * Sanctions will have ramifications beyond Russian borders. * Joe Biden does a premature victory dance. Thanks https://truebill.com/gold. it could save you hundreds a year. INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Bad presidents, like Joe Biden, do not deserve to be honored on Presidents Day. * George Washington was the greatest American in history. * Joe Biden avoids taking questions to avoid giving stupid answers. * Government’s solution to the energy crisis will be rearranging the deck chairs on the Titanic. * NATO should have been disbanded with the fall of the Soviet Union. * Bitcoin leads risk assets lower, in the opposite direction of gold. * Markets are reacting more to inflation fears than concerns over Russia and Ukraine. * Buying Bitcoin is better than shorting gold. * Hex coin scam epitomizes the problems with Bitcoin. Free $75 credit to boost your post at https://indeed.com/peter. Terms and conditions apply. Offer valid through 3/31/22 Go to https://shopify.com/gold for a FREE fourteen-day trial and get full access to Shopify’s entire suite of features. INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Supply will decrease faster than demand. * Fed will fight recession with more inflation. * Democrats bribing voters with gas tax holiday. * American investors watching their wealth evaporate. * Falling Bitcoin proves it’s a poor hedge against the rising inflation. * Russia invading Ukraine is the noise. Inflation is the music. * Dry powder in cash is getting wet. * The trend is not your friend if you’re Cathie Wood. Thanks Ladder Life Insurance. Go to https://ladderlife.com/gold today to see if you’re instantly approved. Thanks Tommy John. Get 20% off your 1st order https://tommyjohn.com/gold. See site for details. INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Economic data blows away expectations. * Wages are a price and prices are going up because of inflation. * Keynesians can’t even follow their own playbook. * Real demand is determined by supply. * Don’t take free heroin just because you don’t want to waste it. * Fed hawks went the way of the dodo bird. * Fed policy is the opposite of Teddy Roosevelt’s Big Stick policy. One-of-a-kind financing program at https://netsuite.com/gold INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Value stocks becoming the new momentum stocks. * Previous momentum stocks pick up momentum in the wrong direction. * Bitcoin’s reaction to Russia Ukraine tensions prove it’s the opposite of a safe haven. * Consumer sentiment at its gloomiest in 11 years. * Worst inflation numbers since 1982. * Companies like Peloton hiding their price increases in delivery and service fees. * Government is deliberately cooking the books on the CPI. Get an extra 3 months. https://expressvpn.com/gold. Thanks Tru Niagen. Save 20% on your first purchase at https://truniagen.com/peter with code PETER INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Momentum stocks rally. * Gold inches higher under everyone’s radar. * Investors distracted by Bitcoin’s bear market rally. * Atlanta Fed President Bostic admits policy will be less loose, not tight. * Original CPI change was intended as a stealth way to cut social security. * Unemployment numbers don’t count people with covid. * New jobs are currently being created by statisticians, not employers. Free $75 credit to boost your post at https://indeed.com/peter. Terms and conditions apply. Offer valid through 3/31/22 Cut your wireless bill to $15/month at https://mintmobile.com/gold INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Surprise earnings send Nasdaq on a roller coaster. * Companies are paying the price for not raising their prices. * Bitcoin trading above $40k, perhaps for the last time. * $10/gallon gasoline on the horizon. * Rising Euro will be problematic for the US economy. * Jobs report reveals strength in inflation, not the labor market. * Gold market shows investors are waking up to the Fed’s failing inflation fight. * Markets punish discrimination; government rewards discrimination. * Washington DC should pick a more appropriate name for their football team. Go to https://shopify.com/gold for a FREE fourteen-day trial and get full access to Shopify’s entire suite of features. Go to https://babbel.com and use promo code GOLD to get 3 additional months when you purchase a 3 month subscription. INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* The stock market is rotating, not crashing. * Weak economic data will make it harder for the Fed to tighten. * Fed may begin blaming rising oil prices on economic slowdown. * Market will assign premium to companies producing earnings and paying dividends. * Facebook abandons their cryptocurrency project, Libra. * 6 more weeks of winter is nothing compare to the crypto winter ahead. * National debt reaches $30 Trillion. * The dollar is Monopoly money held up by a giant Ponzi scheme. Thanks https://truebill.com/gold. It could save you hundreds a year. INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* January could end up being the worst month ever in the stock market. * Worst is yet to come for Robinhood. * Fed’s hawkish talk pushing the dollar higher and gold lower. * Value investments continue to outperform growth investments. * Consumers are buying less, but spending more. Thanks Tru Niagen. Save 20% on your first purchase at https://truniagen.com/peter with code PETER INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Jerome Powell surprises no one in FOMC meeting. * Tesla is not Microsoft. * Hedge fund sharks will smell blood on Cathie Wood. * Bullish gold news ignored by traders. * Powell confuses economic strength for an economic bubble. Free $75 credit to upgrade your post at https://indeed.com/peter. Terms and conditions apply. Offer valid through March 31st INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Stocks pump on potential Powell pivot. * Fed trying to prevent its credibility and the market from imploding. * More than two thirds of Bitcoin holders are underwater on their purchase. * The gold standard didn’t fail. Thanks Ladder Life Insurance. Go to https://ladderlife.com/gold today to see if you’re instantly approved. INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Fed’s talk pricked the mother of all bubbles. * Netflix becomes a victim of its own success. * Cathie Wood’s ARKK fund sees an entire bear market in one week. * Investors are no longer taking refuge in the US dollar. * Tether is an accident waiting to happen. * Pumpers are now conceding that Bitcoin is correlated to risk assets. * There is no basis for owning Bitcoin. Go to https://bambee.com/gold to schedule your FREE HR audit. Thanks Tru Niagen. Save 20% on your first purchase at https://truniagen.com/peter with code PETER INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Stock market is in bad shape, but bond market is worse. * Silver rallies. * Any negative yield in bonds is a positive for gold. * Numbers on economy getting weaker as numbers on inflation get stronger. * Fed can’t fix an inflation induced recession with more inflationary policies. * The crash I wrote about in my 2007 book, Crashproof, is happening right now. Go to https://shopify.com/gold for a FREE fourteen-day trial and get full access to Shopify’s entire suite of features. INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Oil prices headed for record highs. * Massive rotation from growth stocks to value stocks in effect. * Investors rushing to dump Cathie Wood’s ARKK fund. * Grayscale Bitcoin Trust follows growth stocks decline. * Gold will follow oil’s breakout. * Lael Brainard should be fired, not promoted. * The Fed is saving some jobs… the unproductive ones. * Quantitative Easing has a disproportionately negative impact on minorities. Thanks https://truebill.com/gold. it could save you hundreds a year. INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Official CPI is at its worst in 39 years. * Real CPI is at its worst in history. * Investors beginning to realize that the Fed is too little too late. * Elizabeth Warren wants the Fed to blame inflation on price gouging. * Democrats are laying the foundation for price controls. * Paul Tudor Jones believes Bitcoin will do poorly in 2022. Free $75 credit to upgrade your post at https://indeed.com/peter. Terms and conditions apply. Offer valid through March 31, 2022. One-of-a-kind financing program at https://netsuite.com/gold INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Stock market off to a bad start for first week of trading in 2022. * Fed minutes send bond markets tanking. * Investors spooked out of speculative bets and into commodities. * Inflation pressure building on producers and consumers. * Workers fall further behind as prices increase faster than wages. * Bitcoin chart looking ominous. * El Salvador is underwater on their Bitcoin bet. * Microstrategy balance sheet will soon have a big hole in it soon. * Michael Saylor talks out of both sides of his mouth about US Dollar. * NASA agrees, gold has intrinsic value. Get an extra 3 months. https://expressvpn.com/gold. Thanks Tommy John! Get 20% off your 1st order https://tommyjohn.com/gold. INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Peak speculation in 2021 lead to meme stocks, silly named crypto, NFTs, and all time record highs for: * Issuance of SPACS * Mergers & acquisitions * Corporate buy-backs * IPOs from money losing companies * IPOs from regular companies * Home loans * Trade deficit * Government borrowing in a non-recession year * Bitcoin price Thanks Ladder Life Insurance. Go to https://ladderlife.com/gold today to see if you’re instantly approved. Cut your wireless bill to $15/month at https://mintmobile.com/gold INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Everyone is talking about inflation. * Fed is re-rigging the CPI again to hide increasing inflation. * Strong economies create surpluses, not deficits. * US is importing more and exporting less. * Prices up on lumber and other commodities. * Bitcoin stole gold’s thunder in 2021. * 2021 was a great year for Bitcoin sellers, but not buyers. Go to https://bambee.com/gold to schedule your FREE HR audit. Thanks Tru Niagen. Save 10% on your first purchase at https://truniagen.com/peter with code PETER INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Santa Claus rally comes early. * Even Fed’s sugarcoated data shows inflation twice has high as their target. * Gold may be turning its $1800 ceiling into a floor. * Bitcoin pumps with risk assets. * Record GBTC discount shows investors are losing interest in Bitcoin. * Inflation will peak when people least expect it. * Elon Musk wrote the biggest tax check to the US government in history. * Elizabeth Warren is a freeloader. Go to https://bambee.com/gold to schedule your FREE HR audit. INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Chinese imports have kept a lid on goods prices, but not services. * Dollar will decline when foreign investors no longer want US stocks. * We now have more inflation and less ability to deal with it than in the 1970s. * US may soon trade used American cars for used Chinese bikes. * The US Dollar is still backed by more than Bitcoin is. Thanks https://avast.com! Thanks Mack Weldon. For 20% off your first order, visit https://mackweldon.com/gold with promo code GOLD INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Elizabeth Warren blames inflation on greedy business owners. * Producers aren’t price gouging. They’re being gouged. * Fed should stop QE now, not just taper it. * Retail consumers are buying less and paying more. * Congress raises the debt ceiling $2.5 Trillion. * History will judge Jerome Powell before his second term ends. Thanks Ladder Life Insurance. Go to https://ladderlife.com/gold today to see if you’re instantly approved. Free $75 credit to upgrade your post at https://indeed.com/peter. Terms and conditions apply. Offer valid through December 31, 2021. INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* October and November see biggest back to back CPI increase of the year. * 2021 inflation was worse than any year in the 1970s. * Rigged CPI adds to government revenue. * Jussie Smollett hangs himself with fake noose story. Go to https://shopify.com/gold for a FREE fourteen-day trial and get full access to Shopify’s entire suite of features. Thanks Theragun. Go to https://therabody.com/peter to try Theragun for THIRTY-DAYS starting at $199. INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Bitcoin continues to lose ground to Ethereum. * Maxine Waters leads Congressional hearing on crypto. * FDIC made banking less safe. * Bitcoin competes with 14,000 other cryptocurrencies, but not the US dollar. * Michael Saylor sails off the deep end. * Bitcoin will lead to greater racial divide in wealth. * Discount on Grayscale Bitcoin Trust shows institutions are not rushing into Bitcoin. * Ark Invest launches new Transparency ETF. * Cathie Wood is the epitome of “this time it’s different” * Most people have lost money who have invested in Ark ETFs. Get an extra 3 months. https://expressvpn.com/gold. Thanks https://truebill.com/gold. it could save you hundreds a year. INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Markets recover most all of their Black Friday losses. * Fed can’t fight inflation without deflating inflated economic bubble. * Data shows biggest drop in productivity in 62 years. * Consumer prices are headed much higher. * Real wages are headed much lower. * Bitcoin is a lousy store of value in terms of Ethereum. * Americans made real sacrifices during World War 2, not during the war on Covid. * US would have to fund a war with China by borrowing money from China. Thanks Raycon! For a limited time, go to https://buyraycon.com/gold and use code HOLIDAY for up to 15% off your entire Raycon order. Thanks FEALS. Become a member at https://feals.com/gold and get 40% off your first three months with free shipping INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Nasdaq suffers worst start to December in 20 years. * Stay-at-home darling stocks crash with no bottom in sight. * Covid is the gift that keeps on giving the Fed excuses. * Real unemployment rate is much higher than 10%. * Biggest fools now are those buying Bitcoin. * Maxine Waters pats herself on the back for giving away other people’s money. * Janet Yellen wants to postpone big catastrophe now for bigger catastrophe later. * Jerome Powell admits he now sees a substantial risk of persistent inflation. For a limited time, buy any 3-month Mint Mobile plan and get 3 more months FREE at https://mintmobile.com/gold Thanks Aura Frames. Get $30 off your order by going to https://auraframes.com with promo code GOLD INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Dow down over 1300 points in 2 days over Omicron variant concerns. * Bubble market found its pin. * Powell is essentially a member of the Biden administration. * The only tools the Fed has left will destroy the bubble economy if they use them. * Powell lies about the credit worthiness of the US. * Ray Dalio says the only thing the Fed will successfully raise will be prices. * Build Back better targets the middle class with new bank account monitoring. Free $75 credit to upgrade your post at https://indeed.com/peter. Terms and conditions apply. Offer valid through December 31, 2021. Thanks Theragun. Go to https://therabody.com/peter to try Theragun for THIRTY-DAYS starting at $199. INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Covid crashes market again with new Omicron Strain. * Dow suffers its worst drop since Covid lockdowns started. * Investors choose Euro and Swiss Franc over US Dollar as safe haven. * Markets begin pricing out rate hikes that they previously priced in. * Smart money dumps crypto while dumb money buys the dips. Thanks Tru Niagen. Save 10% on your first purchase at https://truniagen.com/peter with code PETER Mene's 24k gold jewelry is giving my listeners 5% off their purchase at https://mene.com/?promo=schiff Use promo code "SCHIFF" at checkout. Offer expires December 2nd, 2021. INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* 2021 marks the most expensive Thanksgiving dinner ever. * Oil companies can’t pump oil as fast as the Fed can print money. * Pilgrims set sail for Communism, but landed on Capitalism. * Desperate Americans look to crypto as a ticket to wealth. * Bitcoin is fiat and people will lose faith in it like other fiats. * Alex Mashinsky of Celsius tells desperate Americans to take out loans to buy Bitcoin. * CNBC hosts an hour-long special shilling Bitcoin. * Cathie Woods is bullish on Bitcoin, but expects deflation. * Wherever inflation starts, it always ends up at the supermarket. * Fed can’t fight inflation and bail out the housing market at the same time. * Even Fed’s preferred data shows they are miles above their inflation target. One-of-a-kind financing program at https://netsuite.com/gold Go to https://shopify.com/gold for a FREE fourteen-day trial and get full access to Shopify’s entire suite of features. INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Biden reappoints Powel as Fed Chairman and promotes Brainard to Vice Chair. * Gold sells off and dollar rises on Fed news. * Investors worried about inflation under Powell two days ago now celebrate Powell’s reappointment. * If Biden wanted to fight inflation, he’d stop creating it. * Generation of entitled American socialists don’t think stealing is wrong. * MSNBC promotes racism. * Law abiding citizens don’t use cars or guns to kill people. * Rittenhouse trial being used to promote Communism. Thanks Raycon! For a limited time, go To https://buyraycon.com/gold for up to 20% off your entire Raycon order. Go to https://bambee.com/gold to schedule your FREE HR audit. INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Socialists are the only ones who believe Biden’s bill will Build Back Better. * Democrats accidentally admit that inflation is caused by expanding deficit and money printing. * The rich don’t have to cheat on their taxes like the middle class does. * Government wants to give all workers a 4 week paid vacation every year. * Government attack on civil liberties has crypto crowd concerned. * Kyle Rittenhouse innocent on all accounts. Thanks https://avast.com! Thanks https://truebill.com/gold. it could save you hundreds a year. INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Janet Yellen lies to the nation. * The Fed doesn’t want to let the peoples’ cost of living decrease. * 2% inflation isn’t a target; it’s a floor. * Retail investors move from bubble to bubble without learning any lessons. * Sell your Bitcoin before Logan Paul’s audience does. Free $75 credit to upgrade your post at https://indeed.com/peter. Terms and conditions apply. Offer valid through December 31, 2021. Thanks Ladder Life Insurance. Go to https://ladderlife.com/gold today to see if you’re instantly approved. INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* CPI data heavily contradicts Fed’s transitory inflation narrative. * Reagan was more popular during a recession than Biden is during this “booming” economy. * The government has too much money on the line not to lie about inflation. * Media’s bias taints their inflation reporting. * Federal Reserve can print money, but they can’t print stuff. * Biden’s Build Back Better plan would have even Keynes rolling in his grave. * Biden considers releasing US strategic oil reserves to China. * Consumer sentiment plunges. * Gold price surges. * Fed won’t try to fight inflation because it will reveal their weak position. * Fed’s policy: Speak loudly when you have no stick. * Falling dollar will be the next domino to fall. * Record number of Americans tell their employer to take job and shove it. * Bitcoin whales conning institutions and bribing politicians. One-of-a-kind financing program at https://netsuite.com/gold Thanks https://avast.com! INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Supply shortages exacerbated by consumers reading the inflation writing on the wall. * Gas prices at the pump close to all time record highs in most of the country. * Dollar is being propped up by taper. * The crypto market has flipped the gold market. * Joe Biden looks to replace Jerome Powell with Lael Brainard. * Is Elon Musk sending a message to the government, or is he trying to sneak out of his overpriced Tesla stock? * Government should be financed through consumption, not income. Thanks Raycon!. For a limited time, go to https://buyraycon.com/gold for up to 20% off your entire Raycon order. Free $75 credit to upgrade your post at https://indeed.com/peter. Terms and conditions apply. Offer valid through December 31, 2021. INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Press knows Biden doesn’t have the aptitude to even answer softball questions. * Record high stock market eyes blue skies ahead. * As Peloton bikes become overpriced clothes racks, Peloton stock becomes dirty laundry. * Gold may end up being the pin that pricks the Bitcoin bubble. * The IRS tricked the middle class. Get your new wireless plan for just $15 a month. https://mintmobile.com/gold Thanks Mack Weldon. For 20% off your first order, visit https://mackweldon.com/gold with promo code GOLD INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Markets blessed Fed’s decision to begin tapering. * Jerome Powell says economy is healthy, but requires monetary policy of an economy in crisis. * Full employment is subjective and rarely achieved. * Powellnomics: It’s inappropriate to have interest rates above 0% in an economy that’s not at 100% employment. * Fed knows the economy is hanging by a threads, and that thread is 0% interest rates. * It doesn’t matter who the President of the United States is. What matters is who runs the Federal Reserve. * Dollar falling may be investors buying the rumor and selling the news. * No bad news in sight for gold, and no good news in sight for the dollar. * Don’t pick up pennies in front of steam rollers. * Zillow’s moronic house flipping business model caves. * Don’t confuse brains for a bull market or a bubble. * Taper is fully priced into gold and silver market. * Don’t jump onto a moving train; get on it before it leaves the station. Go to https://bambee.com/gold to schedule your FREE HR audit. Get an extra 3 months. https://expressvpn.com/gold INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Nasdaq and S&P finish the week strong. * Robinhood closes the week near its all time low. * Newmont leads gold mining stocks lower. * Gold mines don’t lose missed earnings, they postpone them. * Crypto ships will rise and sink on the same tide of fear and greed. * Inflation is driving up labor costs. * Hypocrisy is the one thing all politicians have in common. Thanks https://avast.com! Thanks https://truebill.com/gold. It could save you hundreds a year. INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* US dollar would tank if traders understood implications of economic data. * Trade deficit continues to break records month after month. * Strong economies have trade surpluses; we have a bubble economy. * We’re only consuming and importing because we’re printing a currency the world still values. * Massive trade deficits aren’t a problem until they’re a crisis. * Government pretends rights are privileges so it can tax them. * Moral hazard and rampant fraud will ramp up childcare costs under new Biden plan. One-of-a-kind financing program at https://netsuite.com/gold INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Elon Musk needs a rocket ship to find Tesla’s PE. * Bakkt Holdings rises on crypto partnership with MasterCard. * Jack Dorsey warns of imminent hyperinflation. * Stanley Druckenmiller doesn’t realize the Fed is the problem. * When politicians aim their weapons at the billionaires, they always hit the middle class the hardest. Free $75 credit to upgrade your post at https://indeed.com/peter. Terms and conditions apply. Offer valid through December 31, 2021. Go to https://bambee.com/gold to schedule your FREE HR audit. INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Netflix and Tesla stocks make all time highs. * Trump SPAC makes a splash. * Investors buying WeWork SPAC are putting lipstick on a pig. * Gold price gains on inflation news, which means bigger gains may be around the corner. * Oil price increases while oil production decreases. * Inflation in 2022 will eclipse inflation in 2021. * Weak economic indicators signal the opposite of a booming economy. * Inflation is the government’s silent partner. * America’s increased spending and reduced production will be paid for with inflation. * Bitcoin ETF flops. * Logan Paul and Peter Schiff is the collab we didn’t know we needed. Go to https://shopify.com/gold for a FREE fourteen-day trial and get full access to Shopify’s entire suite of features. Thanks Tru Niagen. Save 10% on your first purchase at https://truniagen.com/peter with code PETER INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Bonds are never a safe haven against inflation. * Consumers can’t afford to buy houses for what it costs builders to construct them. * Zillow bails on home flipping business. * Biden describes inflation as a high class problem. * US government now using Soviet propaganda tactics to explain inflation. * Bitcoin futures ETF BITO is the antithesis of what Bitcoin is supposed to stand for. Free $75 credit to upgrade your post at https://indeed.com/peter. Terms and conditions apply. Offer valid through December 31, 2021. Thanks FEALS. Become a member at https://feals.com/gold and get 40% off your first three months with free shipping INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Markets turn risk on. * Producer prices rise to levels not seen since peak inflation of the 1970s. * Inflation is double the Fed’s benchmark now and will be triple by year end. * Bitcoin rallies on ETF news, but will likely sell off on ETF launch. * Putting profits first is putting people first. * The Art Institute of Chicago fires their volunteer staff for the color of their skin. Thanks Ladder Life Insurance. Go to https://ladderlife.com/gold today to see if you’re instantly approved. Thanks https://avast.com! INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Expecting accurate inflation reports from the government is like expecting accurate crime reports from the mafia. * Dollar falls and gold rises as investors begin to see through Fed’s fantasies. * Inflation is here to stay and markets may finally be acknowledging that reality. * Only the government can make the prices of everything go up all at once. * Biden risks the health of journalists so he can create the appearance of press conferences. * The crypto casino is an even bigger casino than the stock market. Thanks Raycon!. Go To https://buyraycon.com/gold for 15% off your entire Raycon order. Free $75 credit to upgrade your post at https://indeed.com/peter. Terms and conditions apply. Offer valid through December 31, 2021. INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Jobs numbers come in lower than anyone expected. * Investors aren’t buying gold as an inflation hedge because they don’t think there is any real inflation to hedge. * Buying gold won’t be as hard as selling bitcoin. * US lead tax cartel pushing the world to less freedom through collusion. Go to https://bambee.com/gold to schedule your FREE HR audit. Get an extra 3 months Free on a one year package. https://expressvpn.com/gold INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Gold stocks going down because investors are disappointed they aren’t going up. * Fed President Jim Bullard admits inflation is here to stay. * The digital revolution has made gold more valuable than ever. * Jerome Powell on the chopping block means the Fed’s composition may soon change for the worse * Janet Yellen wants to remove the debt ceiling entirely. * The individual is above society. * The federal government uses extortion to circumvent the constitution. Get your new wireless plan for just $15 a month. https://mintmobile.com/gold Thanks Raycon! Go To https://buyraycon.com/gold for 15% off your entire Raycon order. INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Markets rally on news of Merck Covid pill. * Drug efficacy should be left to the market, not the government. * FDA sacrifices human beings like lab rats. * Ray Dalio chooses gold over Bitcoin. * Home sales numbers are exaggerated by institutional flippers. * Zillow shareholders set up for huge losses. * Government involvement in education has driven costs up and quality down. Thanks https://avast.com! INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Political theater plays out over the debt ceiling. * US was biggest gainer from low interest rates, but will be biggest losers when rates are high. * IRS continues its attack on lower and middle income Americans. * Getting into bed with the government will get you screwed. * Cost of having a bank account will get more expensive. Thanks Tru Niagen. Save 10% on your first purchase at https://truniagen.com/peter with code PETER INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Fed has become an arm of the US Treasury. * Powell admits inflation problem is bigger and worse than he predicted. * Investors rush back into energy stocks. * Natural gas prices hit multi-year high. * Taper trades are in; markets moving back into the inflation trade. * Janet Yellen would be fired and sued if she managed a private company’s treasury like this. Go to https://bambee.com/gold to schedule your FREE HR audit. Free $75 credit to upgrade your post at https://indeed.com/peter. Terms and conditions apply. Offer valid through September 30, 2021. INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Less dovish is not hawkish. * Mother of all bear markets in bonds may have just begun. * Republicans only care about deficits and spending when Democrats are in charge. * Plans for minting $1 trillion platinum coin would officially make the U.S. a banana republic. * 
Increase in home inventory could lead to decrease in home prices. * Standard of living will drop for American service workers as their pay decreases and the prices of products they buy increase. * Bitcoin can’t be digital gold if Bitcoin trades the opposite of gold. * Buying Bitcoin is gambling, not investing, and governments regulate gambling. Go to https://shopify.com/gold for a FREE fourteen-day trial and get full access to Shopify’s entire suite of features. Thanks https://avast.com! INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Fed says the economy is great, but they will maintain the emergency policies they put in place when the economy was terrible. * Fed will always choose to fight unemployment over #inflation. * Fed turns blind eye to inflation because the alternative is a complete economic implosion. * Fed’s policies disproportionately hurt African Americans. * Republicans only care about the debt ceiling when they can use it as a political weapon. * Jerome Powell dismisses concerns over #Evergrande and excess corporate leverage. * Gold will explode and the dollar will implode when markets start to realize the #Fed keeps crying wolf. * Gold went up with safe havens while Bitcoin fell with risk assets. Free $75 credit to upgrade your post at https://Indeed.com/peter. Terms and conditions apply. Offer valid through September 30, 2021. INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* China won’t let Evergrande be the next Lehman Brothers. * Fed took us 1 step forward and 100 steps back. * Higher retail sales doesn’t mean consumers are buying more. * Americans are least likely to buy a new car since 1974. * Sweden sets successful example for dealing with Covid. * America is worse off for invading Iraq. Go to https://Bambee.com/gold to schedule your FREE HR audit. For a limited time, get 40% off a Calm Premium subscription at https://Calm.com/gold INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Take the CPI numbers with a grain of salt. * The CPI will catch up to the PPI. * Fed’s new definition of transitory means a permanent reduction in standard of living. * The problem isn’t a shortage of stuff, it’s an excess of money. * Inflation is always and everywhere a monetary phenomenon. * Consumers are expecting higher prices. * Gold stocks mark potential turning point. * Inflation will pay for government spending, middle class will pay for inflation. * Hedge funds buy preferential tax treatment from politicians. Thanks Raycon! Go To https://buyraycon.com/gold for 15% off your entire Raycon order. Thanks Ladder Life Insurance. Go to https://ladderlife.com/gold today to see if you’re instantly approved. INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Producer Price Index numbers come in higher than expected for 9th month in a row. * Inflation trends show no sign of being transitory. * When you properly define inflation, you know exactly who’s causing it. * Bitcoin whales want the minnow’s cash. * There are more job openings than unemployed people. * Left shows its true colors after hate crime against Larry Elder. * 
Media buries stories of racist Democrats. * The government took away our freedom so the terrorists wouldn’t have to. * Tax havens keep a lid on taxes everywhere else. Free $75 credit to upgrade your post at https://Indeed.com/peter. Terms and conditions apply. Offer valid through September 30, 2021. Become a Firstleaf member and get 6 bottles of wine for $29.95 and free shipping https://TryFirstLeaf.com/GOLD INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Grover Cleveland was really a libertarian and one of our greatest presidents. * The populist movement lead to Labor Day and ultimately in 1913 to the The Federal Income tax, The Federal Reserve, and the popular election of U.S. Senators. * The Woodrow Wilson presidency proved to be a disaster for America. * Washington incumbents have rigged the system. * Workers have benefited from entrepreneurs, despite the drag of labor unions. * Henry Ford’s risk taking resulted in higher wages for his workers and cheaper cars for his customers. * Business owners are in the crosshairs of the government. Get an extra 3 months Free on a one year package: https://expressvpn.com/gold INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Jobs numbers disappoint expectations, but Biden brags. * Inflation expectations highest since just before 2008 financial crisis. * AOC pressures Biden to nominate a more woke Fed chair. * Fed causing a lack of savings, which pushes up asset prices and makes the rich richer. * Gold prices calling Fed’s bluff on tightening. * If Bitcoin is better than gold, Ethereum must be better than Bitcoin. * Markets not sure if bad news is good news or if bad news is bad news. Get your new wireless plan for just $15 a month. https://mintmobile.com/gold INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Powell offers no clues on taper timetable. * Powell vows to keep interest rates low until QE is finished. * Powel blames price increases on exploding demand and lack of supply. * Powel blames inflation on the public’s expectations. * Fed’s only goal is to delay the inevitable crisis as long as possible. * Invest in gold stocks before they recover ground they never should have lost. * Afghanistan proved to the world that the US is no longer a military or economic super power. * America’s biggest export may soon be our used cars. For a limited time, get 40% off a Calm Premium subscription at https://calm.com/gold INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Fed will talk about tapering until it can use Delta as an excuse not to. * Bitcoin is irrelevant to monetary policy. * Accepting Bitcoin for mortgage payments is a publicity stunt, not a use case. * Fed uses owner’s equivalent rent data to hide the scarier actual rent data. * FDR may have killed the dollar, but Nixon helped bury it. Thanks FEALS. Become a member at https://feals.com/gold and you'll get 50% off your first order with free shipping. Thanks https://truebill.com/gold. It could save you hundreds a year. INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Markets spooked by CNBC interview with Boston Fed President. * Higher inflation leads to more poverty and a wider wealth gap. * Food stamps are really money stamps. * Media campaigns to soften up the public to inflation. * Stimulus postponed the pain for some, but it’s about to come due. * Jerome Powell warns Americans to prepare for a recession. * Fed created a dollar crisis in response to the looming financial crisis. Thanks Ladder Life Insurance. Go to https://ladderlife.com/gold today to see if you’re instantly approved. INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Rising costs increasing producer pricing. * US home prices rising at fastest pace in history while affordability hits record low. * Trade deficit continues its path higher. * Inflation exposed in increased export prices. * The whole of this tightening cycle will be all talk and no rate hikes. * Consumer sentiment goes lower as consumer prices go higher. * Fed in Catch-22 with consumer sentiment. * We left the gold standard 50 years and may soon leave the dollar standard. Go to https://bambee.com/gold to schedule your FREE HR audit. INVEST LIKE ME: https://schiffradio.com/invest RATE AND REVIEW 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Gold reacts counterintuitively to inflation fears. * Fed changes the definition of transitory inflation. * Q2 Productivity numbers disappoint analysts. * Biggest government expansion of the welfare state since the New Deal and Great Society. * Elizabeth Warren wants to sick the IRS on the middle class. * AMC tries to pump their stock as a crypto play. * Bitcoin will live and die by the gold sword. Thanks Raycon! Go To https://buyraycon.com/gold for 15% off your entire Raycon order. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Wall Street trading on “garbage in, garbage out” algorithm. * Another month, another record trade deficit. * Moratorium on student loan payments extended. * Eviction moratorium will send rent prices skyrocketing. * Supreme Court says eviction moratorium is unconstitutional; Biden extends it anyway. * AOC says we have a supply and demand problem. * CNBC baits Lyft CEO for a Bitcoin headline. Become a Firstleaf member and get 6 bottles of wine for $29.95 and free shipping https://tryfirstleaf.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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Jack Dorsey’s Square acquires Afterpay in largest corporate takeover in Australian history. * Activision discriminates against Republicans, not women. * Black Women’s Equal Pay Day is based on nonsense. * Gender pay gap in women’s soccer is a result of their own choices. Get an extra 3 months Free on a one year package. https:/expressvpn.com/gold 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Inflation creating illusion of economic growth. * Oil prices go up, but energy stocks get beat up. * Fed won’t wage a war on inflation, never mind win it. * Robinhood steals from the poor and gives to a few rich hedge funds. * Saylor’s Bitcoin comparisons are nonsense. Go to https://bambee.com/gold to schedule your FREE HR audit. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Trade deficit isn’t a problem until it’s a crisis. * Home sales fall while home prices rise. * Rent prices increased 25% year over year. * Fed’s only monetary policy is talk. * Markets may have begun calling the Fed’s bluff. * Powell finally admits this inflation is permanent. Thanks https://truebill.com/gold. It could save you hundreds a year. Get your new wireless plan for just $15 a month. https://mintmobile.com/gold 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* High roads don’t win votes. * The road to hell is paved with good intentions and is wheelchair accessible. * Bitcoin rallies on its slope of hope. * China cracks down on private education. Free $75 credit to upgrade your post at https://indeed.com/peter. Terms and conditions apply. Offer valid through September 30, 2021. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Bitcoin gets skipped over in investors’ rush to safe havens. * Gold mining stocks have never been a better deal. * Fiscal stimulus without monetary stimulus is no longer possible. * Bitcoin has a sucker’s rally after getting comfortable below $30k. Thanks Tru Niagen. Get 10% off your first purchase as a new customer by going to https://truniagen.com/peter with the promo code PETER For a limited time, get 40% off a Calm Premium subscription at https://calm.com/gold 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* The power to inflate is the power to destroy. Fed ensures most Americans are living on the edge. * Quantitative Easing is just another word for government debt monetization. * We’re always just one bubble away from the next financial crisis. * Government creates a moral hazard with every subsidy it gets involved in. * Power is most dangerous when it’s not understood by those wielding it. Free $75 credit to upgrade your post at https://Indeed.com/peter. Terms and conditions apply. Offer valid through September 30, 2021. Redeem your 30-day trial for only 99¢ at https://Literati.com/gold Watch The Housing Bubble film: https://letusdisagree.com/ 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Government data says inflation worse than the 80s; real data says inflation already worse than the 70s. * Hypocritical Republicans criticize Biden for the same policies they pushed for under Trump. * Jerome Powell claims economy is great, but it needs the same amount of stimulus as when it was crashing. * Fed claims to have the tools to fight inflation if it gets too high, but not using them now proves they don’t. * Powell admits people aren’t working because they’re being paid not to. Go to https://Bambee.com/gold to schedule your FREE HR audit. Thanks Raycon!. Go To https://buyraycon.com/gold for 15% off your entire Raycon order. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Fed forced to admit that inflation will be higher and last longer than they predicted. * June CPI numbers come in almost double Fed’s expectations. * Highest monthly CPI increase in 13 years. * Stock indexes are not a hedge against inflation. * Producer costs are rising faster than consumer prices. * Consumer prices are rising faster than wages. * No signs that inflation is transitory in the oil market. Thanks Ladder Life Insurance. Go to https://ladderlife.com/gold today to see if you’re instantly approved. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Oil prices break their winning streak. * As stimulus runs out, Americans reach record high in consumer credit. * ECB vows to increase cost of living for Europeans. * Michael Saylor’s Bitcoin spin should fool no one. Become a Firstleaf member and get 6 bottles of wine for $29.95 and free shipping https://TryFirstLeaf.com/GOLD 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Bitcoin and other risky assets being sold off. * Investors flee to gold and other safe havens. * Fed goes from thinking about thinking about tapering to talking about talking about it. * Supply of starter homes at 50 year low. * Buying Bitcoin is as risky as it’s ever been. Free $75 credit to upgrade your post at https://indeed.com/peter. Terms and conditions apply. Offer valid through Sept. 30, 2021. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Oil marches toward record highs in Europe. * Inflation disguised in new restaurant fees. * The Constitution applies to all Americans. * Slave trade started and ended in Africa, not the United States. * Slavery was outlawed in the US before anywhere else in the world. Get an extra 3 months Free on a one year package. https://Expressvpn.com/gold 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Inflation spilling into the labor market. * Pressures pushing dollar down and costs up. * What does Basel III mean for gold? * CNBC pundits are as clueless now as they were in 2006 and 2007. Go to https://Bambee.com/gold to schedule your FREE HR audit. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Facebook anti-trust case thrown out of court. * Breaking up monopolies protects the competitors, not the consumers. * John D. Rockefeller’s Standard Oil was a perfect model of free market efficiency. * Consumers are indirectly price gouged by labor unions. * Labor unions destroyed jobs and wages for laborers. * Government unions should be illegal. * San Francisco buys $70,000 tents for the homeless. Free $75 credit to upgrade your post at https://Indeed.com/peter. Terms and conditions apply. Offer valid through Sept. 30, 2021. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Bond market sells off for opposite reason it rallied a week prior. * Institutions are not rushing in to buy #Bitcoin. * Huge Socialist agenda moving forward using #covid as the excuse. * #Biden vows to grow government and use it against entrepreneurs and small business owners. * We’ve barely begun to pay the piper for all the inflation the Fed has created. Thanks Tru Niagen. Get 10% off your first purchase as a new customer by going to https://www.truniagen.com/peter with the promo code PETER 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Fed triples its estimated duration of transitory inflation. * Republicans have no credibility to criticize government spending and money printing. * Fed vows to make the rich richer and the poor poorer by focusing on employment rather than inflation. * Jerome Powell refuses to acknowledge whether being paid more to not work discourages employment. * Republicans won’t put blame on the Fed, because they benefit more from blaming the Democrats. * Maxine Waters praises Jerome Powell on his irresponsible leadership. Redeem your free trial at https://Literati.com/Gold 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Markets begin to comprehend the Fed’s powerless against inflation. * Oil prices may put the nail in the coffin of transitory inflation. * Crypto traders unload their Bitcoin on Microstrategy.
Microstrategy’s diamond hands are made of glass. * Barry Silbert hesitates on buying GBTC shares. * Tesla’s Bitcoin gamble enters into the red. * Government creating moral hazards in rental housing markets. * Why pay your rent when the government will pay it for you? * The government has become our master and we’re all its servants. * Liberals care about stacking the deck, not fairness. Free $75 credit to upgrade your post at https://Indeed.com/Peter. Terms and conditions apply. Offer valid through June 30, 2021. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Democrats using racism to pass the legislation they’ve always wanted. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Jim Bullard undoes Jerome Powell’s damage control. * Fed goes from not thinking about thinking about raising interest rates to now talking about talking about raising interest rates. * Fed’s monetary tightening is as believable as George Costanza’s house in The Hamptons. * Bitcoin looks for lower support. Thanks Clear. For a limited time, get your first two months of Clear for free by going to https://Clearme.com/GOLD2 and use the promo code GOLD2 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Trade data uncovers what the CPI was hiding. * Fed acknowledges the obvious; inflation is higher than 2%. * Fed gives no indication of taper plans. * Jerome Powell out-doves himself again. * Paul Tudor Jones gets a gift from the Fed. * JP Morgan does not believe inflation is mandatory. * Economy has a collision course coming with reality. Go to https://Bambee.com/gold to schedule your FREE HR audit. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Economic data disappoints. * Sean Hannity to Tucker Carlson: Peter Schiff was right! * Paul Tudor Jones going all in on inflation trade. * Bitcoin moves again on Elon Musk tweets. * Congress proposes Patriot Tax, which isn’t constitutional or patriotic. * Paying as little tax as possible is a patriotic duty. Check out Ladder today to see if you’re instantly approved, go to https://ladderlife.com/GOLD 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Worse than expected inflation report furthers transitory fantasy. * Fed failing its mandates. * IRS abates my excessive $1.4M penalty. * US using Covid to keep citizens from getting passports. Thanks Raycon!. Go To https://buyraycon.com/gold for 15% off your entire Raycon order. Thanks to ItsEasy Passport & Visa for helping me out! Check out their website to see how they can help you too: https://www.itseasy.com/ 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Consumer prices on the rise and going higher. * Markets figuring out the Fed can’t fix Inflation. * Trump calls Bitcoin a scam. * Michael Saylor goes on damage control with Hannity. * Biden’s administration wages class warfare against rich with IRS leak. Free $75 credit to upgrade your post at https://Indeed.com/peter. Terms and conditions apply. Offer valid through June 30th, 2021. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Inflation is on the rise and so is denial about it. * Oil prices reach their highest levels since Covid began. * Broken bond market and rising stock market are not evidence of low inflation. * Janet Yellen admits higher inflation is coming, but says it’s a good thing. * Global minimum tax is a big negative for the world. * Bitcoin 2021 cult member love fest comes to an end in Miami. * Michael Saylor goes into more debt desperately trying to keep Bitcoin from collapsing. * The world will not be following El Salvador’s economic lead. Get an extra 3 months Free on a one year package. https://Expressvpn.com/gold 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Contradictory jobs reports creating market volatility. * Russia begins dumping dollars and buying other currencies and gold. * AMC buyers think they’re sticking it to the man as they hand their money to institutions. * Bitcoin 2021 kicks off in Miami. * Ron Paul does not believe in Bitcoin. * Gold has never been easier or cheaper to authenticate. Free $75 credit to upgrade your post at https://Indeed.com/peter. Terms and conditions apply. Offer valid through March 31, 2021 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Falling Dollar elevating Yuan. * China increases its child limit. * Ray Dalio didn’t endorse Bitcoin; he condemned treasury bonds. * American soldiers died protecting our freedoms, but our freedoms didn’t survive the wars. * Truth in advertising should apply to legislation. Go to https://Bambee.com/gold to schedule your FREE HR audit. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* The Great Rotation is underway. * Gold closes the month with its highest monthly close since August 2020. * Headline PCE has biggest rise in 13 years. * Core CPE has biggest rise in 25 years. * Rent rises 5.4%. Food rises 28%. * Traders waking up to reality that inflation is bearish for the dollar and bullish for gold. * JP Morgan risks their clients’ investments to collect their fees. * Government budgets are just optimistic wishlists. Thanks Tru Niagen. Get 10% off your first purchase as a new customer by going to https://truniagen.com/PETER with the promo code PETER 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Gold close to breakout and dollar close to break down. * Fed admits unpleasant inflation is a possibility. * Major disappointment in home buyer data. * Surplus of money is pricing Americans out of the home and automobile market. * Government begins blaming companies for higher prices instead of inflation. * Don’t let your money retire before you do. * Warning signs of crypto bubble popping. Free $75 sponsored job credit at https://Indeed.com/peter. Terms and conditions apply. Offer valid through June 30, 2021. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Rotation continues from momentum to value as Bitcoin investors turn to gold. * China is the excuse, not the reason for the Bitcoin bubble bursting. * This Crypto Winter may be the longest and most brutal of all. * Dave Portnoy shills Safemoon gimmick. * Coinbase may be the biggest failure vs. expectations of any IPO in history. * Crypto crash ushers in bear market for Tesla, Square, Microstrategy, Riot Blockchain, Galaxy Digital. * Gold is in a solid bull market making new highs. * Paul Krugman is right on Bitcoin and wrong on gold. * The US is now officially a Banana Republic without the bananas. Check out Ladder today to see if you’re instantly approved, go to https://ladderlife.com/GOLD 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Bitcoin proves it is not a safe haven asset. * Investors begin rotation from Bitcoin to gold. * Bitcoin is the white whale and Michael Saylor is Captain Ahab. * Anthony Pompliano wants your cash, not your Bitcoin. * Gold investors spooked by suggestion of a possible discussion to potentially think about talking about tapering. * US Dollar crash may look similar to today’s Bitcoin crash. Free $75 sponsored job credit at https://Indeed.com/peter. Terms and conditions apply. Offer valid through June 30, 2021. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Dollar falls towards new lows. * Inflation fears become more widespread. * Wall Street beginning to realize there’s no political solution to inflation.
Bitcoin following risk stocks lower, as inflation hedges like gold and silver rise. * Fearing 2% inflation, Bitcoin investors lose 34% on their hedge. * Bitcoin staring at enormous head and shoulders top. * Microstrategy stock down 63% from its high. * Michael Saylor lies and hides. Go to https://Bambee.com/gold to schedule your FREE HR audit. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Oil prices pump. * Bitcoin prices dump. * Gold prices shine. * US leads world in over-valued momentum stocks. * Tucker Carlson talks inflation. * Windows look like nails to the Fed’s hammer. * Soaring inflation outweighs record lows mortgage rates. * Manufacturing decreases in April. * Economic statistics point to stagflation. Thanks to Amazon Pharmacy. Amazon Prime Members can save on prescription medication when not using insurance and get FREE 2-Day delivery! Learn more at https://amazon.com/GOLD 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* CPI numbers shock expectations. * Biggest monthly gain in CPI since 1981. * Gasoline supply chain disrupted by ransomware hack. * Price gouging alleviates shortages. * Unemployed workers shouldn’t be picky. * Disincentivizing people from jobs is not good for the economy. * Dogecoiners buy the rumor and sell the fact on Elon Musk SNL appearance. * Accolades have gone to Cathie Woods’ head. * ARKK will likely make a new 52 week low this year. * CNBC continues to ignore emerging markets, value stocks, and gold. * ]The people saying sub-prime was contained in 2008 are the same people saying inflation is transitory now. Thanks Raycon!. Go To https://buyraycon.com/gold for 15% off your entire Raycon order. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Huge misses in jobs numbers. * Biden’s Blue-Collar Blueprint to build back better will be another big bureaucratic blunder. * Jobs report is more evidence the Fed’s policies aren’t working. * Weaker labor market means stronger inflation. * Dollar decline will accelerate. * Strong week for gold and silver with more strength ahead. * Investors continue their move from growth to value stocks. * Bitcoin maximalists in glass houses throwing stones at Dogecoin. * Elon Musk may create a market top in Dogecoin after his SNL appearance. * Jeff Gundlach is a fan of The Peter Schiff Show. Listen to the latest season of Business Wars (Vaccine Wars) on Apple Podcasts, Amazon Music, or listen early and ad-free by joining Wondery Plus in the Wondery app. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Inflation concerns increase along with commodity prices. * Trade deficit will fuel inflationary spiral. * Government reclassifying our rights as privileges so they can take them away. * Supreme Court sets precedent for the federal government to start seizing property. * Americans need property rights, not property privileges. Get an extra 3 months Free on a one year package. https://Expressvpn.com/gold 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Markets, gold, bonds, oil end April up; US dollar down. * Investors may “sell in May and going away.” * More than one third of US household income is now coming from the government. Thanks Clear. For a limited time, get your first two months of Clear for free by going to https://Clearme.com/GOLD2 and use the promo code GOLD2 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* New record high in S&P and Nasdaq. * New record high in monthly trade deficit. * New record high in shipping containers falling off ships into the ocean. * Powell not worried about increases in the cost of living. * The middle class created labor unions and then, like Frankenstein’s monster, the unions turned on their creator. * Biden’s plan to make healthcare more affordable will backfire and make it more expensive. * American Families Bill will set a new record high in fraud. * Government will do to childcare what it’s done to college tuitions. Go to https://Bambee.com/gold to schedule your FREE HR audit. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Jeff Gundlach sounding a lot like Peter Schiff again. * Biden’s American Families Plan extends entitlements to child care and sick leave. * Covid policies created multiple layers of unemployment fraud * Government wants to pick winners and losers in the economy. * IRS going after business owners with new increased auditing budget. * Presumption of innocence is under attack. Free $75 sponsored job credit at https://Indeed.com/peter. Terms and conditions apply. Offer valid through June 30, 2021. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Stock market indexes break their 4-week winning streak. * Biden tax plan creates bearish environment for stock market. * Technical data for the dollar continues looking weaker. * Conspiracy theories surrounding the Perth Mint are wrong. * Republicans opposing Biden’s tax plan are hypocrites. Thanks to Amazon Pharmacy. Amazon Prime Members can save on prescription medication when not using insurance and get FREE 2-Day delivery! Learn more at https://amazon.com/GOLD 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Coinbase already in a bear market within a week of its IPO. * GBTC selling at a record discount. * Bitcoin dump is underway. * Biden readies massive federal tax increase on capital gains. * Rich gringos are benefiting Puerto Rico. Go to https://Bambee.com/gold to schedule your FREE HR audit. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Woke mob is preventing justice and cramping freedom of speech. * We should be mourning the death of justice, not the conviction of Derek Chauvin. * Jurors can now go home as heroes instead of fearing for their lives. * George Floyd didn’t sacrifice himself for justice. It was justice that was sacrificed. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* George Floyd's autopsy results show he died of hypertension, heart disease, and drug overdose that complicated police subdual, restraint, and compression. * Video of Derek Chauvin shows he was following procedure and not trying to murder George Floyd. * Maxine Waters urges BLM to be more confrontational with their protests. * Benjamin Crump lies about Daunte Wright and Kim Potter on ABC's This Week. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Record setting day and week for the markets. * Dollar sells off as gold rises. * China eases restrictions on gold imports. * There is no silver scam at the Perth Mint. * CNBC treating the Coinbase IPO like they did the AOL Time Warner merger. * Bitcoin lost 97% of its value measured in Dogecoin. * Dogecoin was created as a joke and may become the punchline for hodling Bitcoin. Check out Ladder today to see if you’re instantly approved, go to https://ladderlife.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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* This inflation isn’t transitory. Higher prices are here to stay. * Coinbase IPO triggers a buy the rumor sell the fact crypto avalanche. * Jerome Powell has zero understanding of gold. * Bernie Madoff died in prison, but his spirit lives on in the US Government. * Daunte Wright, like George Floyd, contributed to his own death. * Minnesota officer charged with manslaughter to appease the mob. Free $75 sponsored job credit at https://Indeed.com/peter. Terms and conditions apply. Offer valid through June 30, 2021. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Our leaders, including Chairman Powell, are cowards. * You can’t buy what hasn’t been produced, no matter how much money is printed. * Bitcoin price moves up ahead of Coinbase offering. * Michael Saylor’s latest propaganda stunt proves Bitcoin is neither currency nor money. Thanks Raycon!. Go To https://buyraycon.com/gold for 15% off your entire Raycon order. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Dow closes the week at a new all time high. * Small gains in gold and silver. * Investors haven’t yet realized the Fed can’t stop inflation. * Bitcoin is not an inflation hedge. * Record number of Americans don’t want jobs. * 60 Minutes is fake news. * US Customs targets me at the airport. Thanks Tommy John Get 20% off your 1st order https://TommyJohn.com/gold. See site for details. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Jamie Dimon touts optimistic fairy tales. * Moratoriums on evictions and student loan payments boosting consumer spending. * The 70’s were an economic disaster because of the policies of the 60’s. * Fed betting the house on inflation being transitory. * China’s digital Yuan threatens both Bitcoin and the US Dollar. Free $75 sponsored job credit at https://Indeed.com/peter. Terms and conditions apply. Offer valid through June 30, 2021. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Stock markets hit record highs. * Weakness in Russell shows recovery is happening outside the US. * Biden and Yellen push for collusion through global tax cartel. * Nobody has voting rights. * Democrats want to keep dumbing down the voter base. Get an extra 3 months Free on a one year package. https://Expressvpn.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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Restored jobs will be lost again permanently. * Gold bulls throwing in the towel. * Archegos is a lesson for Bitcoin HODLers. * Derek Chauvin’s trial begins with odds against him. * Media ignores murderers if they’re the wrong race or gender. * Hate Crime laws will lead to Thought Crime laws. Free $75 sponsored job credit at https://Indeed.com/peter. Terms and conditions apply. Offer valid through June 30, 2021. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Treasury bonds creep higher to new post-Covid highs. * Gold sellers are not Bitcoin buyers. * Market has been buying Fed’s bluffs. * Ferocious moves in gold ahead. * Covid is incomparable to the tragedies of war. * Biden takes a stake to the heart of capitalism. * The middle class was created by capitalism and destroyed by government. Thanks FEALS. Become a member at https://Feals.com/gold and you'll get 50% off your first order with free shipping. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Markets rally as the rotation to value and dividend stocks continues. * Treasury yields slip. * Big moves in oil and dollar. * Gold and silver take a hit. * Unemployment and trade deficit numbers dangerously high. * Powell’s tool will turn the economy from recession into a depression. * FOMC looking to advance a political agenda. * Infrastructure spending is not stimulus. * Despite more competition, Disney+ subscription price increases 14%. * Read the fine print before bartering your Bitcoin for a Tesla. Go to https://bambee.com/gold to schedule your FREE HR audit. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Stock market down on anniversary of 2020 crash. * Biden readies $4 Trillion more in stimulus before the ink dries on the last round of checks. * Krugman back with more Keynesian nonsense. * Virtual Fifth Avenue is not valuable when you can have infinite New York Cities. * Affirmative Action is condescending to African Americans. * Massive racial hate crime gets swept under the rug by the media. Visit https://Audible.com/PETER or text PETER to 500-500 to start your free 30-day trial. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* St. Patrick’s Day green turns into a sea of red. * CPI is another government lie. * Markets worried the Fed will fight inflation. * Gold mining stocks strengthen. * Tensions rise as China puts Biden administration in a PR box. * The same problems are now playing out on a bigger stage. Go to https://Bambee.com/gold to schedule your FREE HR audit. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Markets rally as Fed continues its game of chicken. * Jerome Powell gambling that this time things will be different. * Gold and silver up. Dollar down. * Bank of America agrees, Bitcoin is just for gambling. * Morgan Stanley allows restricted crypto speculating to high net worth investors. Thanks to Amazon Pharmacy. Amazon Prime Members can save on prescription medication when not using insurance and get FREE 2-Day delivery! Learn more at https://amazon.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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Dow breaks its streak of seven day record highs. * Import and export prices rise. * Home building prices rise. * Expansive tax hikes coming on income. * NFT mania moves to virtual sneakers. * I lost $4,000 HODLing my tweet. Free $75 credit to upgrade your post at https://Indeed.com/peter. Terms and conditions apply. Offer valid through March 31, 2021. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Investors starting to adopt my thesis. * Money doesn’t create purchasing power. * Biden’s stimulus is just a down payment. * Massive loopholes will be exploited. * Artists and athletes like Beeple and Gronk are ripping off their fans. Thanks Raycon! Go To https://buyraycon.com/gold for 15% off your entire Raycon order. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* NASDAQ enters into a correction. * Cathy Wood buys overpriced momentum stocks. * The madness of crowds has reached an all-time high. * NFTs are for rookies. * Tweets for sale! Check out Ladder today to see if you’re instantly approved, go to https://ladderlife.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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Oil prices surge to two year highs. * Restaurants being allowed to reopen is not employment strength. * Jerome Powell spooks the markets with his false sense of confidence. * Bitcoin trading like a NASDAQ stock with no earnings. Free $75 credit to upgrade your post at https://Indeed.com/peter Terms and conditions apply. Offer valid through March 31, 2021. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Big gains on Monday give back on Tuesday. * Australia doubles down on their QE program. * US stock market rally made in Australia. * Kevin Leary has Bitcoin backwards. * Mark Cuban unknowingly refutes his own arguments. * Democrats play politics with Wealth Tax. * Anybody can consume, saving capital is the tough part Get 3 extra months free: https://ExpressVPN.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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Stock markets end February hemorrhaging. * March may start with a black Monday blood bath. * Meme stocks mania add to the market craziness. * Cancel culture insanity infects The Bachelor. * Don't assume Mr. Potatohead's gender. * How will the future generations judge us? Get 15% off your 1st order https://Tommyjohn.com/gold. See site for details. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Jerome Powell becomes more dovish each time he speaks. * US Dollar hits new low against Australian and Canadian Dollar. * Technical charts show dollar heading towards a cliff. * Elon Musk responds: Go to https://Bambee.com/gold to schedule your FREE HR audit. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Renewed momentum out of Covid stay-at-home stocks and into value stocks. * Crude oil, industrial metals, and other commodities move higher. * Tesla slips back into a bear market. * Can Elon Musk convince Peter Schiff to buy Bitcoin? Free $75 credit to upgrade your post at https://www.Indeed.com/peter. Terms and conditions apply. Offer valid through March 31, 2021. Schedule your FREE Product Tour at https://www.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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Copper leads rise in commodities. * By end of year, a penny may be worth a nickel. * Elon Musk admits, BTC is BS. * Bitcoin bubble may get popped by a gold pin. * Game Stop bubble popped. * Robinhood going to be writing a lot of checks to small investors. * If you can’t afford a professional broker, blame the government. * IRS setting their sights on the middle class and small business owners. Listen to the latest season of Business Movers on Apple Podcasts, Spotify, or listen ad-free by joining Wondery Plus in the Wondery app. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* We don’t have a booming economy, we have a shopping spree. * Food and energy prices on the rise. * There is no gender pay gap, but new laws will create one. Free $75 credit to upgrade your post at https://www.indeed.com/peter. Terms and conditions apply. Offer valid through March 31, 2021. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Spike in interest rates hit gold and silver hard. * First time home buyer credit tucked into stimulus bill will breed fraud and moral hazard. * Tesla stock hurt by Bitcoin investment, potentially scaring off other CEOs from following Elon Musk into crypto. Schedule your FREE Product Tour at https://www.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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Record highs in the S&P and lumber prices. * Commodity prices and bond yields soar. * More Americans losing their jobs. * U.S. has been obliterated in the trade war. * Lucasfilm feigns outrage from the leftist mob, proving Gina Carano’s point. Go to https://www.Bambee.com/gold to schedule your FREE HR audit. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Pot stocks were blazing today after getting smoked last year. * Big action in platinum may be the start of bigger action in precious metals. * Oil prices make new post-covid highs. * Signs point to a possible peak in MicroStrategy’s stock. * Jerome Powell encourages the government to get into a deeper hole. * Puerto Rico would be one of the biggest losers of the minimum wage. * Virtue signaling is harming the poor and minority communities. Thanks Ladder Life Insurance. To lock in your best rate today and get your family covered with Ladder, go to https://ladderlife.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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Elon Musk dumps Tesla shareholder money into Bitcoin. * Tesla is overvalued, but Bitcoin has no value. * Will one bubble be the pin for another bubble? * The establishment is behind Bitcoin! * Dogecoin is better than Bitcoin. Free $75 credit to upgrade your post at https://indeed.com/peter. Terms and conditions apply. Offer valid through March 31, 2021. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Jobs data weak and revisions are worse. * Bond yields weighing heavy on gold prices. * Dollar gets clobbered by disappointing economic data. * Oil prices rising and going higher. * Increasing trade deficit will soon explode. * Kamala Harris and the Senate pass $1.9 trillion stimulus bill. * This is the first and probably smallest of many stimulus payments from Joe Biden. * Warren, Sanders, AOC pushing Biden for student loan forgiveness. * Bitcoin hodlers seem to be the only ones talking about inflation. Thanks Raycon!. Go To https://buyraycon.com/gold for 15% off your entire Raycon order. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* 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. Get 3 extra months free: https://ExpressVPN.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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Big moves in silver outshine modest gains in gold. * Robinhood users are the product, not the customers. * Government regulators emboldened to act. * Watch out for the numismatic bait and switch from precious metals dealers. * Elon Musk and Ray Dalio don’t sound like Bitcoin buyers. * Elon Musk is wise not to throw pins while living in a bubble. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* All four major market indexes end the week down. * So goes January, so goes the year … so buckle up! * Hedge funds continue to take it in the shorts. * First Majestic Silver gets targeted. * Robinhood limits stock trading and puts halt on instant crypto buying. * The establishment does NOT want you to buy physical silver. * The establishment LOVES Bitcoin. * Elon Musk plays with his Twitter followers like puppets. Thanks Keeps. To receive your first month of treatment for free, go to https://keeps.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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Powell delivers most dovish press conference ever. * Anthony Scaramucci’s Skybridge… fund wins trophy for ridiculous bitcoin logic * GameStop proves Bitcoin can’t work. * Technicals starting to deteriorate on Bitcoin. * Bitcoin speculators have moved onto greener pastures.. * Big shorts in gold and silver could be squeezed next. Visit https://Audible.com/PETER or text PETER to 500-500 to start your free 30-day trial. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Big gains in the most heavily shorted stocks like Game Stop. * Robinhood traders buying Game Stop think they’re smarter than the hedge funds shorting it.  * Markets can stay irrational longer than you can stay solvent. * In the short-run, stocks are a voting machine. In the long-run, stocks are a weighing machine. * Price is what you pay. Value is what you get. * When it comes to bubbles, the markets first bankrupt everyone who bet against them, and then bankrupts everyone who bet on them. * Premium for Grayscale Bitcoin Trust is collapsing along with the demand. * If you’re at the poker table and you don’t know who the patsy is, it’s you. Free $75 credit to upgrade your post at https://Indeed.com/peter. Terms and conditions apply. Offer valid through March 31, 2021. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Markets finish positive on a quiet week. * IBM’s chickens coming home to roost. * Gold positive on the week despite heavy pressure. * Biden’s executive orders bullish for gold fundamentals. * Chicago teachers don’t care about students. * Regulatory costs of Bitcoin will exceed traditional banking. * There is no shortage of Satoshis. Go to https://Bambee.com/gold to schedule your FREE HR audit. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Markets couldn’t care less who’s the president.  * Despite the change in the White House, there’s no change at the Federal Reserve. * Joe Biden is not everybody’s president. * Democrats made a deal with the devil. * The country will now suffer like never before. * Nothing Joe Biden wants to do is Constitutional. * This can is too big to kick down the road. Thanks Ladder Life Insurance. To lock in your best rate today and get your family covered with Ladder, go to https://www.ladderlife.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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* I told you so. Donald is a one term President. * Trade deficit worse now than before we were “winning” trade deals. * Trump added almost as much to the deficit in 4 years as Obama did in 8. * Only thing Trump didn’t like about Obamacare was the name. * The cornerstone of Trump’s legacy and the cornerstone of Trump’s criticisms of Obama are the same. * Trump failed to make America great, but pretended that he succeeded. * To his credit, Trump didn’t lead us into any new wars and he nominated three good justices to the Supreme Court. Schedule your FREE Product Tour at https://www.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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Power and ignorance is a dangerous combination. * Biden’s stimulus plan will make the European Union look responsible by comparison. * Affirm’s IPO epitomizes what’s wrong with markets and the economy. * Dollar denominated financial assets on expedited track to worthlessness. Free $75 credit to upgrade your post at https://www.Indeed.com/peter. Terms and conditions apply. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Agricultural commodities ore on fire. * Nobody needs bitcoin. * A market driven by inflation is different than a market driven by earnings. * Biden administration will exploit the attempted “insurrection” * Tech currying favor from Biden administration through conservative censorship. Get an extra 3 months. Expressvpn.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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Gold and silver shellacked. * Jobs report worse than anyone expected. * Elon Musk becomes richest man in the world. * Chamath Palihapitiya’s poorly chosen quote may be an omen for things to come. * Bitcoin bubble brings bizarre bedfellows.  * Biden vows to put low-skilled workers out of work. Thanks Raycon! Go To https://buyraycon.com/gold for 15% off your entire Raycon order. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Democrats bribe Georgia voters with cash. * Massive divergence between International stocks and domestic stocks. * Bitcoin is propping up the system that it’s supposed to take down. * Protesting a stolen election is a right. Free $75 credit to upgrade your post at https://indeed.com/peter. Terms and conditions apply. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Rare dichotomies playing out in the markets - something big is happening. * Dollar continues to fall against the Yuan. * Institutional money is flocking to real commodities, not Bitcoin. * Connecticut passes idiotic new law giving workers 3 month yearly vacations. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Fed turned stock market into a casino. * Investors buying everything in sight with cheap money. * Trump ends term with biggest trade deficit and budget deficits in history. * Trump vetoes less bills than any other president in 100 years. * Race to the bottom will start when Fed starts bailing out state. * Tesla is better than Bitcoin. * Bitcoin is like the Emperor’s New Clothes. Thanks Keeps. To receive your first month of treatment for free, go to https://keeps.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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Trump grandstands over stimulus bill. * Ripple gets ripped. * Is Bitcoin also a security? * Biden will be bad for Bitcoin. * Greyscale gets clobbered. Go to https://Literati.com/Peter for 25% off your first 2 orders. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* New Covid-19 relief stimulus bill passes Congress. * 200 years worth of debt added in one year of 2020. * Trump outdoes Obama’s deficit in only one term. * Reparations via voting is nonsense. * Banco Popular has bad business practices. * I recommend First Bank of Puerto Rico. Schedule your FREE Product Tour at https://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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Dollar melts down toward new lows. * Tesla added to S&P, making the index even more overvalued. * Exporting is a means to pay for importing. Free $75 credit to boost your post at https://Indeed.com/peter. Terms and conditions apply. Offer valid through 12/31/20. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Fed leaves interest rates unchanged. * More stimulus checks and PPP on the way. * State governments owe business owners compensation. * Big move in silver and bigger moves building. * Bitcoin outshines the precious metals. ExpressVPN.com/gold Arm yourself with an extra 3 months of ExpressVPN for free. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Doordash and Airbnb go public with successful IPO, despite never making a profit. Thanks Hawthorne. Get special offers for the holidays, going on right now, by visiting Hawthorne dot CO. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Stock indexes and gold mining stocks hit 52-week highs. * Fed can’t stop the dollar from falling or gold from rising. * Bitcoin isn’t gold 2.0, it’s fools gold 2.0. Thanks RAYCON! For a limited time, get 15% off your order at https://buyraycon.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/peterschiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* 2021 may be the weakest year yet for the dollar. * Investors whistle past the mother of all graveyards as inflation mounts. * Grayscale printing money and buying CNBC ads. * Watch for Bitcoin’s double-top before you let the champagne pop. * HODLers on Sesame Street try to silence my video. * Walter E. Williams, a black life that mattered greatly to me. Thanks Keeps. To receive your first month of treatment for free, go to https://keeps.com/GOLD Thanks to Wondery for supporting The Peter Schiff Podcast. Listen to the latest season of Business Wars (TikTok vs Instagram) on Apple Podcasts, Spotify, or listen ad-free by joining Wondery Plus in the Wondery app. 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/peterschiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Best November for the Dow since the roaring 20s. * While stocks saw a boom, gold saw a bust. * Negative backdrop may have firmed gold’s bottom. * Bitcoin reaches new highs. * Joe Biden is from the government and here to help. Free $75 credit to boost your post at https://Indeed.com/peter. Terms and conditions apply. Offer valid through 12/31/20. 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/peterschiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Grayscale Trust leads Bitcoin into a Thanksgiving Day Massacre. * Sharp declines in gold on Black Friday. * Inflation will not save debtors who want to retire. Thanks Literati. Go to https://Literati.com/Peter for 25% off your first 2 orders. 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/peterschiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Markets hit all time record high of 30k. * Record TSLA stock price rockets Elon Musk to second richest in the world. * Trump takes credit for record markets he said would tank on Biden win. * Janet Yellen for Secretary of Debt. * The opposite of the Roaring Twenties are here. * Bitcoin flirts with 20k. * FDA blocks harmless drugs. Thanks Keeps. To receive your first month of treatment for free, go to https://keeps.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/peterschiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Hedge funds are no longer hedges; they’re risks. * Investors hope for more monetary stimulus as fiscal stimulus dries up. * More fiscally stimulated companies going bankrupt. * Bitcoin will replace the tulip bulb in future economic textbooks. * Trump’s executive order is unconstitutional and will drive prescription prices higher. Thanks RAYCON! For a limited time, get up to 20% off your order at https://buyraycon.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/peterschiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Another vaccine, another rally. * Easy money is here to stay no matter what happens with COVID. * Price surges coming. * Was Buffett embarrassed by his big Barrick buy? * Ray Dalio recommending the entire Euro Pacific investment strategy. * Airbnb going public with no reason for optimism. * Hidden agenda of Bitcoin whales is to trap the minnows. * Voting for the CARES Act shows how little you care about the country. Free $75 credit to boost your post at Indeed.com/peter. Terms and conditions apply. Offer valid through 12/31/20. 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/peterschiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Biden advisor proposes another lockdown; says the Fed will pay everyones’ wages. Is it a Trojan horse for UBI? * No recovery in sight for the economy, only a relapse. * Democrats fight for Senate control through Georgia. * Americans in their 70s taking on record debt. * 60 Minutes Australia compounds their damages. * PayPal’s Bitcoin adoption is a gimmick. Thanks Hawthorne! To take your quiz and get 10% off your first purchase, go to hawthorne.co and use promo code 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/peterschiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Big moves in all the markets on news of COVID vaccine from Pfizer. * COVID vaccine will not be ready soon. * Investors sell stay-at-home stocks and buy the leave-the-house stocks. * Gold gets thrown out with the safe-havens. * Bitcoin has the least volatility. * Statehood for Puerto Rico would be a disaster. Get 3 months free. Expressvpn.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/peterschiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Investors having deer in headlights moment. * The light at the end of the tunnel is a Mac truck. * Rally in gold stocks are a small taste of what’s ahead. * Biden has the same tricks to play as Trump. * Biden, like Trump, criticizes the stock market as a candidate and will embrace it as president. * Bitcoin gains, but its popularity doesn’t. Free $75 credit at https://Indeed.com/Peter 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/peterschiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

The election polls were horribly wrong. Blue wave barely makes a splash. Wall Street content with the election results. Biden will reregulate what Trump deregulated. Biden regulations will take toll on workers. China and pharmaceutical companies optimistic on Biden. Pot stocks get smoked. Ranked voting would blow open the Democrat and Republican duopoly. Free $75 credit at https://Indeed.com/Peter 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/peterschiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Peter Schiff gives his thoughts on the election and takes questions from the listeners. 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/peterschiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

US stock market has worst week since March. 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/peterschiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Stock markets tumble on renewed fears. Blue wave may not crest as once was expected. More stimulus comes with bigger government. Trump is the Republican Jimmy Carter. Trump’s legacy will be his successful Supreme Court nominees. The most important thing this election is to prevent Democrats from taking control of the Senate. Free $75 credit at https://Indeed.com/Peter 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/peterschiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Addressing the elephant in the room. Australian media accuses me of masterminding the biggest money laundering and tax evasion scheme in the history of the world. Realtors, accountants, lawyers may soon be required to spy on their clients. Real Bitcoiners respect me. Fake Bitcoiners hate me. PayPal announces Bitcoin news. Dollar weakest in weeks. Thanks RAYCON! While the deal is running, get 15% off your order at https://buyraycon.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/peterschiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Bank analysts want more artificial stimulus. Retail sales surge while production crashes. PPP monkey business driving spike in business applications. Borrowing from poorer countries is a sign of decay, not strength. The income tax is proof that Americans are not a free people. Hunter Biden compromises national security and economy. Twitter censors the story from the public. The coverup is as outrageous as the story. Washington full of pickpockets, not public servants. 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/peterschiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

US stock market breaks a 4 day winning streak. Enormous tax hikes being proposed dwarf tax cuts. Fed creating a launch pad for gold. Amy Coney Barrett agrees to maintain unconstitutional precedent. The government interprets the Constitution to grant themselves unlimited power. Get an extra 3 months. Express VPN: https://expressvpn.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/peterschiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Trump extends stimulus olive branch to Pelosi. Kudlow lies behind his mask. Republicans cave on spending. QE goes from tool of last resort to standard operating procedure. Stimulus begets stimulus. Dollar breaks down; gold and silver rally. Gold and silver will move big following the election. Debates need a referee, not a moderator. Republicans are being stingy socialists. Trade deficit with China bigger than before we declared a trade war. Bitcoin gains on news of Jack Dorsey’s Square allocation. Free $75 credit at Indeed.com/Peter 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/peterschiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Trump temporarily dashes stimulus hopes. National debt tops $27 Trillion. Trade deficit in manufactured goods hits all time record high. Jerome Powell either doesn’t understand the economy or is a liar. Lower-skilled government workers retiring with multimillion dollar pensions paid for by private sector. Donald Trump condemns white supremacy, but Joe Biden won’t condemn Socialism. Thanks Keeps. To receive your first month of treatment for free, go to keeps.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/peterschiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Last jobs report before election overshadowed by COVID-positive Trump. Possibility of a President Pence becomes more probable. Deregulation and lower taxes would stimulate the economy. Consumption is the caboose; production is the engine that moves the train forward. California will need a Federal bailout to pay reparations for the slaves they never had. Princeton placates mob and gets caught in a lie. BitMEX founders indicted on criminal charges. Coinbase bans political discussions. Try 3 months free of ExpressVPN at https://ExpressVPN.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/peterschiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Stock market finishes the worst September since 2011. Silver down on the month, but outperforms stock market on the quarter. Stephen Roach speculates 35% collapse in the US dollar in 2021. Paying taxes is nobody’s patriotic duty. Home appraisers aren’t racist. Democrats pissed they can’t put black people deeper into debt. Biden wins the first debate by simply proving he’s not senile. Trump defends the indefensible about healthcare. Biden dodges questions about Supreme Court and Green New Deal. Schedule your FREE Product Tour at https://www.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/peterschiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Dollar rallies in the face of stock market fall. Bubble stocks more bubblicious. Monetary stimulus only stimulates inflation. Daymond John wants the government to print more money. It’s not an L-Shape or V-Shape recovery, because it’s not a recovery. Too much can kicking has made the can too big. Democrats throwing stones from their glass house. Wells Fargo CEO shamed by race baiting mob for telling the truth. 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/peterschiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Everything gets slammed. Chart looking weak for the Dow and Russell, strong for silver. Bloom coming off the rose of economic recovery. Political tensions rise with death of Ruth Bader Ginsburg. US government is the biggest threat to America, not terrorists or COVID. Fiscal stimulus requires monetary stimulus. The constitution has to be applied, not interpreted. Thanks RAYCON! Get 15% off your order at https://buyraycon.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/peterschiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Rough ride for the indexes this week. Fed commits to 0% interest rates until 2023. Neel Kashkari thinks that’s not enough. Air is coming out of the retail sales bubble. Temporarily closed businesses close permanently. Markets ignoring dangerous warning signs. Trump stabs Republicans in the back. American energy companies are dead, but oil prices will rise. Morgan Stanley wakes up to 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/peterschiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Secretary of Treasury is really Secretary of Debt Fed doesn’t think Americans are in enough pain. Education and healthcare are too important for the government to be involved in. Biden pledges to nationalize corporate America. The road to serfdom is better than the road we’re on now. Episode Sponsor: ExpressVPN Get an extra 3 months free on a one year package.: https://ExpressVPN.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/peterschiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Markets end week on a mixed note. Gold consolidating support above previous highs. Fed has come out of the closet. Alan Greenspan sounds more like Peter Schiff as he gets older. Government did more harm to Americans with the War on Terror than the terrorists did. Government doing more harm again with the War on COVID than the virus has done. Government incentives maximum racism. NFL discriminates. Go to https://indeed.com/peter for a $75 credit on your job post 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/peterschiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

NASDAQ has a full blown correction. TSLA is the poster child of the stock market craziness. Slack is not an investment. Air coming out of stock market bubble. Dave Portnoy is the poster child of day traders. Bitcoin’s support is weakening. 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/peterschiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

The biggest bubble may have popped without a pin. Charts show bad omen for the NASDAQ. The biggest bubble ever won’t die easily. Strength in gold stocks improving. Tesla (TSLA) sells off. Treasury market killed. China commits to dumping US treasuries. Bond market’s bottom ready to drop. Bitcoin may never trade above $10,000 again. Trade deficit biggest since July of 2008. Jobs numbers are not what they seem. 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/peterschiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

S&P has its best August since 1986. APPL and TSLA continue soaring after splits. TSLA rains on its own parade. Zoom zooms. Loot this book. George Floyd died of a drug overdose. McDonald’s sued for treating black owners equal to white owners. Rampant wave of race-based lawsuits on the way. 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/peterschiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Fed changes the rules for inflation target calculations. Markets react to Powell's announcement. Prices go up when people aren’t working. Majority of middle class will be impoverished Into lower class. Gold’s resistance has become support. What Trump Steaks may teach us about the Trump Economy. 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/peterschiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Good news for Facebook stock is bad news for Main Street. Housing market booms - just like it did before the 2008 crash. Layoffs increasing. Many jobs permanently gone. The voting age should be raised. Happy Birthday Spencer! Follow my son on Twitter @SpencerSchiff David Portnoy bails on Bitcoin and Chainlink. Paul Tudor Jones should be the next big name to bail on crypto. Cuban-American an emotional and heartfelt warning at the RNC. Leaked George Floyd tapes show why it’s so important to wait for all the facts. Link to leaked footage: https://www.youtube.com/watch?v=YPSwqp5fdIw 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/peterschiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

S&P and Nasdaq close the week with record highs. Apple capitalizes on speculator mania with stock split. Weak economy benefits Wall Street and sedates Main Street. Real estate booming, but mass defaults may be on the horizon. Uber shareholders are being exploited, not the drivers. Republicans have philosophically lost the debates. Stimulus works great when it comes to buying votes. 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/peterschiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

S&P recoups COVID losses, closing today on an all-time high. Tesla cruises on stock splits driving into the mother of all short squeezes. Traders will sue Robinhood for their losses. Dollar index gets smoked. Warren Buffett knows the inflation tax is coming and he’s trying to avoid it. Never mind the answers, the news doesn’t even have any questions. Bitcoin not making any new highs. Democrat National Convention was an embarrassment to Americans. $2000 gold may look cheap soon. Thanks RAYCON! Get 15% off your order at https://buyraycon.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/peterschiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Berkshire Hathaway loves gold, bets against the US. Bidders aren’t showing up for 30 year treasury bonds. Food prices soar and this is just the beginning. Fair-weather capitalists claim we’re all socialists now. Socialism is Larry Kudlow’s new credo, now that he works for the government. Warren Buffet is too smart to buy bitcoin. California wants to tax out of state residents' wealth. Episode Sponsor: ExpressVPN Get an extra 3 months Free on a one year package.: https://ExpressVPN.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/peterschiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Gold’s spectacular move down is the sign of a bull market. Paul Krugman admits inflation is driving up gold price. Curing COVID won’t cure the economy. Do-gooders in California will put Uber and Lyft out of business. Donald Trump’s tax cuts will drive up the inflation tax. Joe Biden insults black women before nominating Kamala Harris. Follow my new Instagram account: https://instagram.com/peterschiff 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/peterschiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Gold is up for 9th consecutive week. Gold stocks scaling a wall of worry. Clock is ticking on TikTok and WeChat. Trump acting more like a king than a president. US government more dangerous to Americans than China’s government is. Jim Rickards is wrong on inflation. Follow my new Instagram account: https://instagram.com/peterschiff 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/peterschiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Gold breaks a new milestone at $2000. New thousand dollar milestones will start dropping like dominos. https://www.instagram.com/stories/peterschiff/2368614209700051718/ GDX makes a new high for the year. Crashing dollar will leave many broke millionaires. Fed codifying commitment to reckless money printing and endless inflation. 16 year olds lip-syncing is not a national security threat. Follow my new Instagram account: https://instagram.com/peterschiff 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/peterschiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

July ends with record monthly closes. Apple becomes world’s most valuable company. Gold settings records. Silver has its best month since 1979. US Dollar has lost better than 99% of its value. Slow orderly decline could turn into rapid disorderly crash. 10 and 30 year Treasury Bonds close with lowest yields in history. This is the 1970s on steroids. Jerome Powell levels up on not thinking about rates. Meals & Entertainment back on the menu for tax deductions. Trump’s Kodak moment is not a pretty picture. Follow my new Instagram account: https://instagram.com/peterschiff 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/peterschiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Gold and silver rise as the dollar falls. 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. Follow my new Instagram account: https://instagram.com/peterschiff 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/peterschiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Peter Schiff and Anthony Pompliano discuss the big rise in gold, silver, bitcoin, and crypto. Recorded live July 26th 2020. Follow my new Instagram account: https://instagram.com/peterschiff 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/peterschiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

The road to hell is paved with good intentions. The ADA further disables the disabled. American Samoa was crippled by the Fare Wage Act. Discrimination laws create more discrimination. Follow my new Instagram account: https://instagram.com/peterschiff 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/peterschiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

US dollar begins it’s decline. Financial news ignoring the biggest financial story out there. Intel and Tesla move into bear markets. Gold up 50% over Trump’s 3.5 years in office. A brief history of legal tender in the US. Follow my new Instagram account: https://instagram.com/peterschiff 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/peterschiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Gold prices tease $1900. Big gains in silver, but that bull market has barely started. CNBC oblivious to what this means for economy. Trend broken of declining unemployment. A dollar crisis is much worse than a financial crisis. Wall Street learned nothing from 2008. Follow my new Instagram account: https://instagram.com/peterschiff 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/peterschiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Investor money still piling into at-home stocks. 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. Thanks RAYCON! Get 15% off your order at https://buyraycon.com/GOLD Follow my new Instagram account: https://instagram.com/peterschiff 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/peterschiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Why I interrupted Joe Rogan. Are capitalists mean? Dictionaries changed the definition of inflation. Follow my new Instagram account: https://instagram.com/peterschiff 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/peterschiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Gold passes $1800 and reaches all time highs in every currency in the world except the US dollar. China may cut US from trade. China propping up US dollar so US may not be able to buy from anyone soon. 600 financial firms took forgivable PPP loans. Entrepreneurs created the middle class. Biden wants equal outcomes, not equal treatment. Estate Tax is unconstitutional . Big tax hikes coming. Follow my new Instagram account: https://instagram.com/peterschiff 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/peterschiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

All indexes in the red today. Closed down college towns is more bad news for banks. Massive support built for gold’s bull market. Gold stock fundamentals continue to improve. Fascism is Socialism. Episode Sponsor: ExpressVPN Get an extra 3 months Free on a one year package.: https://ExpressVPN.com/gold 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

The Peter Schiff Show Podcast Ep 264: https://youtu.be/vdnF9t-kHt4 The Peter Schiff Show Podcast Ep 265: https://youtu.be/onMqKwyhKLw The Peter Schiff Show Podcast Ep 368: https://youtu.be/XGqHMoY7ris   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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Trump disingenuous about job creation. Employment numbers should be taken with a grain of salt. The relapse has started. Gold is a coiled spring and the market is primed for a huge move up. Check out Larry Elder’s documentary “Uncle Tom” https://uncletom.com/ 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Air going back into the bubble is fueling Q2’s phony rally from Q1. Spectacular gains in the gold stocks eclipse the gains in the Dow, Nasdaq, and S&P. Gold breaking out and stealing the spotlight from Bitcoin. The dollar privilege, enjoyed by all Americans, is about to go away. When the dollar loses its reserve status, gold will take its place. Congress and the Fed open the door for reparations. The income tax is racist! 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

As I predicted, US stock market continued to be under pressure throughout the week. Financial stocks lead lower by Goldman Sachs. Companies that can’t make money need to go out of business. Betting odds overwhelmingly favor Democrats victory in White House and Senate. House of Representatives pass bill to make Washington D.C. the 51st state. When Republicans lose the Senate in November, they may never get it back. Elizabeth Warren has inside track on Secretary of Treasury in Biden cabinet. Euro Pacific funds made up for 5 years of under performance in 6 months. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

I’m going on the Joe Rogan Experience July 14th. I’m speaking at FreedomFest July 15th and 16th. Gold is the last safe haven left standing. Trump an even bigger underdog than he was in 2016. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Strong signs we’ve exhausted this bear market rally. Dollar and Bitcoin bottoms ready to drop from under them. Real estate sales masking underlying weakness in market. Trump is the Republican Jimmy Carter. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Powell testifies in front of the Senate. Fed beholden to Wall Street speculators. The nail is in the coffin. We are the future generation that has to pay for the Fed’s profligacy. We’re in the lull before the storm. Dollar crash looming. I touched the third rail and the mob has come to get me fired. The bar has been lowered, letting real racists off the hook. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Wall Street sees a sea of red. Fed is stealing your purchasing power and giving it to someone else. Government should be lightening the burden it places on the economy. Trump should make big cuts in government spending. Market still in denial over likelihood of Democrats winning the White House and Senate in November. Bernie Sanders won whether he’s on the ticket or not. Democratic Socialism and slavery reparations are coming to America. The crisis is just beginning for Bitcoin. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Fed not thinking about thinking about raising interest rates. We dodged a bullet and stepped on a land mine. Fed gives green light on more stimulus. Fed creating an inflation episode for the history books. Mania in stock market driving short-lived successes on Robinhood app. Other currencies will collapse with the dollar. Episode Sponsor: ExpressVPN Get an extra 3 months Free on a one year package.: https://ExpressVPN.com/gold 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Shocking jobs numbers. Shipping industry virtually non-existent in America due to Jones Act. White privilege didn’t save Tony Timba. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Government policies destroy the economy and enable racial injustice. Capitalism is the solution. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Rioting now being used to advance Socialist policies. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Big moves in gold and silver. Jerome Powell admits that things are so bad, it’s worth the risk of killing us with the cure. Personal income surges by 10.5% as consumer spending declines by 13.6%. Mark Cuban thinks money printers are the economic fountain of youth. Goldman Sachs couldn’t care less about Bitcoin. Trump shifts blame from the Federal Reserve to China. Check out The Bubble film: https://thebubblefilms.com/ My 1987 correspondence with Alan Greenspan: https://schiffradio.com/my-1987-correspondence-with-alan-greenspan/ 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Market rallying on hope and hype. Trump’s odds of winning re-election continues decreasing. Chinese trade deals unwind. Stimulus more dangerous than virus. Everything that can go wrong, likely will go wrong, all at the same time. American taxpayers stuck with 8 years of tax debt and counting. We are a zombie country and the world is about to find out we’re insolvent. Jerome Powell saying the antithesis of what a Fed Chair should be saying. Investors have a lot left to learn, which leaves gold stocks a lot of room to gain. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Paul Krugman & Stephen Moore are both advocating the same policies. Price for plane tickets are skyrocketing. Q&A 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Markets rose yesterday on promising vaccine news and Jerome Powell interview. Printing money doesn’t solve economic problems, it compounds them. Powell admits there is no limit to the amount of inflation the Fed will create. Gold stocks make new highs for the year. Another big jump for the price of silver. Best way for some to buy gold right now is with silver. Government borrowing half of the money it spends. Most of the world’s currencies at all-time records lows against gold. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Quiet day in the stock market. More jobs lost than expected. Fed’s balance sheet moves through $7 Trillion. Ron Insana says big deficits are not a problem. Next crisis will happen overnight. Retails sales declining fast, even as shoppers hoard groceries. Netflix and Amazon are not COVID investments. Federal Reserve illegally grabbed the authority to do what It’s doing. Gold is at the beginning of a big rise. Buying the stock market is not contrarian. Bitcoin is not an inflation hedge. Q&A 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Financials take out new lows today before rallying the market positive. Tech stocks providing false sense of security for the markets. Powell throws cold water on negative interest rate expectations. Trump beats the drums demanding negative interest rates. Betting odds increase on Democrats taking the Senate. Congressman now proposing to pay people to go off unemployment. Restaurants will not recover from this. Entrepreneurs and business owners are the real heroes, not teachers. Swedish response was more responsible. Inflation is a consequence of government, never the private sector. Gold and gold stock charts looking great as markets start to roll over. Home builders are in trouble. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Stock market drops. CPI lowest since 2008. Prices will begin rising higher and sooner than most expect. $2000 monthly UBI proposed for Americans as young as 16 years old Socialists love coronavirus even more than they love climate change. Norwegian Airlines sets an example the US should follow. Bitcoin halves. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Market rallies on worst jobs report in history. Decimated gig economy isn’t even factored in. Majority of service industry jobs are not coming back. If nobody’s producing, nobody’s consuming. Market’s now factoring in negative interest rates. Second wave of layoffs coming. Businesses now at risk of regular shutdowns. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Fog lifting on the recovery narrative. Tech stocks strong on hope. Government ready to sacrifice other businesses to save Boeing. Fed feeding the same BS from 2008 about unwinding stimulus. Financial stocks are the canaries in the coal mine, and they’re dropping dead. National Debt passes 25 trillion dollars. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Government encouraging people not to work. Jim Cramer’s restaurant can’t stand the heat. Businesses at increased risk for lawsuits. Nobody is forced to go to work. Democrats don’t believe all women. Q&A. Link to my Standup: https://www.youtube.com/watch?v=ne__pTRAenc&t=42s 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Final trading day in April will go into the record books. Markets ignoring more bad economic data. Jerome Powell flashes the green light to buy gold. US considers suing China and defaulting on debt. Money supply surges by a third of a trillion dollars in a week. Major housing real estate disaster before us. Travon Martin Hoax Free Video: https://youtu.be/QAw5ykIPOBM 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

More bad data getting a pass. Confidence doesn’t drive an economy, but it does reflect bubbles. Trade deficit imbalance getting worse. You cannot consume what has not been produced. We’re still paying taxes imposed to win WWII. Jeff Gundlach blocked me. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Inflation video: https://www.youtube.com/watch?v=pwI3Nya5L9g The economy was sick long before the coronavirus. Businesses need big government to bail them out because of big government. The economy will be a lot smaller at the end of this year. Economic stimulus is actually a sedative. Working from home will be a lasting change that will affect real estate. Q&A Register for the Money Show virtual event: http://schiff.moneyshow.com/ 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Gold stocks a coiled spring; prices already doubled in one month. Paper gold might end up as just paper. More money for small businesses will be fraudulently claimed by big businesses. People are about to find out he economy isn’t a light switch and won’t just switch back on. Gold has no ceiling and the dollar has no floor. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Oil prices collapse into the negatives. Lower oil prices are still inflationary. Gold ETFs beginning to look risky as supplies lag demand. Oil and gold may be the one-two punch that takes out the dollar. The gold standard is coming back. Unlike oil, at least Bitcoin will only go to zero. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Optimism in market from progress toward vaccine. Wall Street showing their bias against gold stocks. Fed’s balance sheet climbing toward 7 trillion. Bailouts will kill businesses. Q&A 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Markets rallied yesterday and surrendered it all back today. Financials did not participate in yesterday’s rally, signaling trouble ahead. Banks getting backdoor bailouts. Lenders clamping down on mortgages as housing market prepares to collapse. Donald Trump buys votes with voters’ money. 2020 Election comes down to a Democrat vs. a Democrat. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Gold hits 7 year high and is still cheaper than it’s ever been. Mining stocks even better bargain than the metals. Amazon and Netflix overvalued and waiting for bottom to drop. Don’t fight the Fed. Still not too late to buy gold. Presidential election will be a bidding war for benefits and handouts. US is producing less of everything except for money. Real estate prices are going to collapse. Cigarettes are a better currency than Bitcoin. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Another week, another multi-trillion dollar Fed program. Government spending has to be paid in either taxation or inflation and we’re about to pay for it in spades. Trump draining the whole country instead of just the swamp - will add more debt in 4 years than Bush did in 8. Unemployed will stay unemployed for a long time. We’re buying time before an explosive rise in gold prices. You can’t outperform a bubble. Betting against the economy is not the same as rooting against the economy. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Markets overly optimistic that the worst is behind us. Trump keeps his friends close and his enemies closer - gets Kudlow to repudiate everything he spent an entire career advocating. Fed chairs past and present are clueless. RINO DJT joins the ranks of FDR, JFK, and LBJ Dems. Must watch Janet Yellen exposed videos referenced in this podcast https://www.youtube.com/watch?v=rfLlF1vtit8 https://www.youtube.com/watch?v=Z-9aZrmYEqk 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Jobs numbers came out today and the news didn’t matter. Art Laffer knows there’s no free lunch - calls stimulus taxation. Nothing is as permanent as a temporary government program. S&P reaffirms US AA+ rating. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

China cashing in treasuries for oil. Unemployment exploding. Bankruptcies and layoffs to continue. The old saying about the piper having to be paid is an old saying for a reason. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Trying to fix this economy is like trying to unscramble an egg. Government short circuiting capitalism. Investors will rush to sell and there won’t be any buyers. Politicians exploiting coronavirus to grab power, buy votes, hide blame. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Full speed ahead to hyperinflation city. Congress passed a 2.2 trillion dollar bill and already want more. Employment is a hazard. Unemployment may become a gravy train. Inflationary pressure mounting as companies retool their factories to make masks, ventilators, sanitizer, and other coronavirus related products. Donald Trump is now the president of the United States AND the chairman of the Federal Reserve. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Here's the link to Dave Ramsey agreeing with Peter Schiff: https://www.youtube.com/watch?v=3jsQ-EdQYVU Thomas Massie vilified for having integrity. Every other Republican should change their party affiliation to Democrat. Bankruptcies don’t destroy industries — they destroy moral hazards. Bernie may be a socialist, but Trump is officially a communist now. US government now has the authority to nationalize any business in the country, providing the mechanism for a communist revolution without firing a shot. The dollar is falling and the Fed can no longer pretend there will be an end to QE The Gold Standard is coming back, but will coronavirus disrupt the gold miners? 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Market rallies on relief of stimulus bill passing and biggest government expansion since the New Deal. Increasing evidence that this will be the longest bear market in history, like the fact that the “experts” on CNBC believe the opposite. Dollar starting to sink as fed dilutes its value with endless money printing. The Greater Depression has just begun. Unemployment now more lucrative than employment. 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

The Dow had the biggest rally today since 1933 during the Great Depression. Physical gold market is selling out of inventory. Stimulus package dragging on as Democrats pack in the porkbarrel. The digital dollar is coming. Pandora’s box has been opened on landlords.   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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Spread the word. Help make knowledge go viral!   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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Volatile day and week for the Dow, which ended down almost a thousand today.. The sacrifices we made in WWII are completely different than the sacrifices we’re making now Milkshake theory is working, for now. IRS deadlines should be postponed to Election Day. Gold seeing more buyers; Bitcoin seeing less.   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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Dow ends it’s streak of thousand point moves after 8 consecutive days. The unemployment claims are skyrocketing and they’re going to increase. America lost every war it ever fought. The government will not let this coronavirus crisis go to waste. CNBC brings in captains of industry to weigh in with their bad ideas. CEOs are looking for bailouts to protect their ownership of the companies, not the companies themselves. Helicopter money was a term invented as a joke. Now the joke’s on us.   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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Peter Schiff is live and taking your questions as his predictions of the Real Crash unfold before our eyes. Streamed live March 18th.   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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Another day, another couple trillion dollars in QE. Fed doing everything they can to prevent market forces from raising interest rates to a market clearing level. Sometimes stocks trade on peoples’ emotions and we’re seeing a lot of that now. Today marked the seventh consecutive day that the dow has moved by 1000 points. Markets surge on Trump’s promise of helicopter money and bailouts. Dollar rallies sharply on what may be a technical head-fake. Gold likely finding it’s bottom and set to go higher. Donald Trump is.a Socialist now and he’s trying to buy the election by bribing the electorate. Elizabeth Warren has some conditions. And while this podcast was being recorded, another bailout was announced!   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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Fed finally did what I’ve been saying they would for years: cut rates to zero with the biggest point cut in history. Powell afraid to call it QE. There are no atheists in foxholes; there are no free-market capitalists in a recession. If we fought WWII with bailouts, like the way we’re fighting coronavirus, we’d be speaking German now. Waiting in line for food and toilet paper does not mean business is booming. Neither is having full hospitals. More records broken today as the Dow lost almost 3,000 points - the biggest single day point drop in history! Percentage-wise, it was the second biggest drop percentage in history, next to the stock market crash of 1987. For all the years of the Great Depression and WWII, the economy never saw a drop like this. The stock market has never lost this much value this quickly. The whole rest of the world is now tapping into their savings, but we have nothing left to rely on other than a printing press. Gold takes a hit as investors cover their losses, but still down only 2% on the year compared to the Dow down 32%. Gold is liquid, easy to sell, yet its barely down, even though so many people are desperate enough to sell it. Trump “pleasantly surprised” Powell followed his orders after having his job threatened. Oh, and banks no longer need reserves.   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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Dow up almost 2,000 points today; a record point gain, 10th biggest percentage gain, with most larger gains occurring during the bear market of the 1930s. We had a lot of stock market firsts this week and it was one of choppiest weeks on record. Trump announces beginning of national bailout including open-ended moratorium on student interest loans, allowing debtors put their loans into deferment indefinitely and never pay them again. Trump leaves door open to bailout any industry in the country. Lawsuits driving many shutdowns across the country. Gold’s recent late day buys a sign of illiquid investors trying to get in at lows.   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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Market reacted poorly to Trump’s Wednesday night coronavirus address. Today’s historic drop was the biggest since the 1987 crash. Fed’s cure will be worse than coronavirus and fatal for US economy. QE5 coming with more cheap money and artificially low interest rates. CNBC says this is nothing like 2008, but everything about it is like 2008. Jim Cramer proposes the US government suspend collecting taxes, increase all spending — and print all the money needed to pay for it. Short term noise and illiquidity affecting gold stock. Nothing is a safe-haven on a daily basis. Bond vigilantes are waking up and the bond market is starting to blow up. Bitcoin and crypto market crash. CNBC remains silent. The whole bitcoin narrative is blowing up.   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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Longest bull market in US history is officially over and it’s the fastest we’ve ever gone from record highs to a bear market. The same financial anchors who said not to worry about the banks in 2008 are saying the same thing now. Dollar gained on yesterday’s strength, but still in a downtrend. Gold prices acting very similar to 2008. Biden can’t lost and Trump can’t win. Kudlow saying the same nonsense he was saying as a cheerleader of the President’s economy, except now he’s actually a player in it. Inflation, even the way the government measures it, is breaking out of its slumber. Companies more afraid than ever of legal consequences.   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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Markets, bitcoin, and the dollar had a Reversal Tuesday fueled by Trump’s promise of massive artificial fiscal stimulus. Trump trying to buy a second term, but with democrats holding stimulus hostage, stimulus will come with socialist labor laws and Keynesian helicopter money. Betting markets see now see Trump as the underdog. Mandated paid sick leave will hurt employees. Bailouts for oil, airlines, hotels, and cruise ships are just another backdoor bailout for the banks. While all the safe-haven assets dropped today, bitcoin’s price rose along with the other risk assets. Bitcoin now trades highly correlated with the stock market. Joe Biden’s gender-based VP list is sexist. Bernie Sanders says America’s tax system should be more like Sweden, then admits he knows very little about it.   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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Oil war that began today will bankrupt many US companies. 60% of stocks in Russell 2000 are lower now than when Donald “the stock market president” Trump  took office. Financials continue to get clobbered and stimulus won’t help them this time. This time nobody will believe QE is temporary or interest rates will normalize. Australia looking to repeat the mistakes of others central banks. Gold broke $1700 today, but didn’t break out. All the babies were thrown out with all the bathwater, including gold mining stocks. Gold price much stronger during this crisis than in 2008. In contrast, the dollar is now falling against other currencies. Massive swings in the currency markets leaving the dollar crumbling against other major safe-haven currencies, unlike in 2008 when that crisis sent the dollar soaring. Gold has much less ground to recover now so if it reacts the way it did after the fed’s last bailout, it has a lot more upside ahead. Perfect conditions for a bitcoin rally, yet it’s collapsing as it fails to live up to hype and people realize it’s nothing more than digital risk. CNBC suddenly and conveniently seems to have forgotten the word “bitcoin.” Phenomenal opportunity now to dump bitcoin and buy gold before the bottom really drops out on bitcoin.   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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Week closes out with another big drop in the markets. Nasdaq and Russell 2000 hit new lows. Russell 2000 on-track to have lost value during Trump’s four years in office. Oil prices are plunging, which is bullish news for gold mining companies as their production costs decrease and gold prices increase. Fed’s balance sheet rose by a whole month's worth in one week and it looks like that trend will continue in the weeks to come. Fed’s crisis hasn’t even begun.   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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Another huge move down in the markets today. Heavy carnage in the banks as treasury yields plunge. Fed’s days of bubble blowing are over. Next dose of stimulus will be the overdose. Coronavirus may be the pin that pricks stock market, bond market, and bitcoin bubbles. More bad news expected as the only previously strong jobs market, travel and leisure, starts to suffer from coronavirus. Layoffs will trickle through the economy quickly.   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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* More bearish technical signs in the market. Fed issues an historic 50-basis-point, inter-meeting, emergency rate cut. Investors are realizing Fed can’t cure the coronavirus or the markets with their rate cuts. * Fed’s rate cut is decisively bullish for gold and silver. As the market was tanking, gold had one of it’s best days in a while, signaling more strength ahead. * Who were Friday's gold sellers? * Better to have been early and right, than late and wrong. The Real Crash is coming. * Democrats would rather lose with Biden than risk winning with Sanders   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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Bear markets have notoriously big rallies as they fall down the slope of hope. Today’s record breaking 1200 point rally in the Dow may be an example of that. Markets betting on a 50 basis point rate cut to interest rates and more quantitative easing. Part of the market rally likely also due to diminishing chance of a Bernie Sanders presidency. But Biden will also be bad for the markets and he has a greater chance of winning Nothing goes up in straight lines. Bull markets have notoriously big declines as they climb the wall of worry, which we may have seen on Friday. Gold stock positioned for record highs.   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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* 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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

US stock market pounded again for the 6th day in a row. Two back to back days with markets down 3%. The only time it’s ever happened three days in a row was during the great depression. Gold living up to its role as a store of value. Bitcoin fails the test as a reserve currency. Bitcoin pumpers forced to admit it is not digital gold. It’s digital risk. Democrat candidates pander against each other.   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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* All major indexes down and looking weak. * Bubble is looking for a pin and coronavirus might be it. * Dumb money is piling into treasuries. Safe-haven money is moving to gold.  * CNBC still obsessed with bitcoin. Remains silent on record breaking gold prices. * Warren Buffet thinks Bitcoin is garbage and it’s going to $0. * Baby Boomers sowed the winds for socialism. * If you thought Obama was bad with executive orders, just wait for a President Sanders. * The markets will drop by 50% under President Sanders. * More people will die from the Sanders virus than coronavirus.   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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

* Significant moves in the bond market today. * Coronavirus is inflationary. * US has never been less credit-worthy than it is right now. * US treasuries have the lowest yields in history and are GUARANTEED TO LOSE money. * Bond market is now undisputedly a bubble, but CNBC spins a different view. * I won a bet. * Perspective is everything when it comes to an investment strategy.   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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Liz Claman has a new podcast called “Everyone Talks to Liz Claman.” It’s a great show and I was on it earlier this week where I talked about growing up, some personal stories, and things you haven’t heard me talk about in other interviews. I highly encourage you to check out the episode here. Coronavirus continues to help the dollar, but is helping gold even more. Gold’s bull market continues upward as more countries see their currencies lose record value to gold. Citibank calls for $2k gold within 1-2 years. CNBC dismisses the call as an unimpressive 25% gain and pumps bitcoin instead. Gold may be the best hedge against the stock market. Gold ETFs have accumulated a record amount of gold in storage. Gold is up 60% in the past 4 years. Get your gold and silver BEFORE the big moves start happening. * The best way to own physical gold is by purchasing it from SchiffGold. * The best way to own gold jewelry is by purchasing from Menet jewelry. If you bought some when I first promoted it, you could trade it in for MORE gold than you originally purchased. * If you want to see more of a return on gold’s climb, buy the Euro Pacific Gold Fund (EPGFX)   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/PeterSchiffOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Coronavirus may be worse than anyone thought, but why aren’t the markets worried? Gold mining stocks looking positive again. Underlying weakness in the dollar being revealed in gold. Obama and Trump are fighting over a booming economy that doesn’t exist. 1/3rd of Americans run out of money between paychecks. Over 25% of households spend half or more of their income on rent. Delinquencies on auto-loans are higher now than they were at the worst part of the great recession. Bernie Sanders has an advantage over Michael Bloomberg. Art Laffer cheerleads Trump on Fox Business. Trump nominates ass-kissing liar to the Fed.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Nobody seems to be talking about the downward revisions in the jobs reports, particularly for 2018. Trump’s celebrated jobs numbers have been revised down 370k jobs for that year. Obama’s weak jobs record is better than Trump’s. A lot more jobs were created in the last 3 years of Obama’s presidency than the last 3 years of Trump’s. Deficits are exploding through the roof. Trump is setting records in government debt, but thanks to Trump and the Republicans, no one cares about the deficits anymore. Gold hit a record high in terms of the Euro, which means people who are bearish on the Euro are turning to gold as a safe-haven. Stock market doesn’t seem to be worried about the possibility of a President Bernie Sanders. Maybe they want more QE and negative interest rates? Bernie Sanders can out-promise Trump and people are underestimating the power of all that free money. Sean Hannity’s fake outrage is not a good look. Owning a home does not make you wealthy. Bitcoin may be rising now, but it’s still not gold.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

The impeachment trial of Donald Trump ends no real surprise, he was acquitted. The whole thing came down along party lines and was all calculated political theater and posturing for the 2020 election. But the real theater was during Trump’s State of the Union last night. Trump pitched socialist policies and touted his fake Chinese trade deal. He spoke to Congress for 90 minutes and not once mentioned the national debt. Since Trump took office, trade deficits have increased and manufacturing jobs have decreased. More women are forced to join the workforce due to economic circumstances at home. If the economy were as good as Trump claims, he’d be calling on congress to cut spending or balance the budget or reduce the size of budget deficits. If you can’t tackle the debt when the economy is in the greatest boom in the history of the world, when can you tackle it? Trump apparently can’t find one program or agency to cut spending on. Instead he just bragged about all the social programs and weapons he was spending money on, not to mention Space Force! Trump is playing a massive PR game right now. Rush Limbaugh has cancer. Liberals are sick. Pete Budajudge wins the Iowa Caucus disaster. Sanders wants to give new “Rights” to the disabled. Markets have recouped from their recent “coronavirus sell-off.” Ford Motor Company earnings disappoint investors. GM is still trading where it was 7 years ago. Tesla is a bubble in itself.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

“So goes January, so goes the year.” If the old adage is true, this could mean the longest bull market in history is coming to an end. And from a political perspective, it couldn’t come at a worse time. Another adage in investing is “buy the rumor sell the fact.” I mentioned in a recent podcast that investors would soon be selling the facts behind Trump’s trade deal. Well, it didn’t take very long for the markets to find a reason to sell. The markets were clobbered today and contrary to what the media says, the coronavirus is not the reason. It’s just an excuse and if they didn’t have the coronavirus, they’d find something else to blame. A lot of the stocks going down are retailers and have nothing to do with coronavirus. If the coronavirus passes and this slump in the market doesn’t, reasons for optimism will start fade fast. 2019 numbers show only 2.3% GDP growth. Could 3 rate cuts and a return to QE possibly be the reason? Joe Biden gave Bernie Sanders a bone by claiming he’s not a real Democrat. Voters are sick of party insiders and this will backfire on Biden the way it did on the Republican candidates when they accused Trump of not being a real Republican. Nobody would invent keto ice cream in a Socialist economy. Gold stocks continue to be undervalued. This is a gift horse and you don’t want to look it in the mouth. Gold is up again. If gold is this strong with the headwind of a strengthening dollar, just imagine the strength it will have with the tailwind of a falling dollar.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Weak days for the stock market Friday and Monday will likely be blamed on the coronavirus. The real virus to be concerned about is Bernie Sanders as he infects more voters with his rapidly spreading burn. Bernie Sanders was on Phil Donahue in 1981 when it made news that a Vermont town elected a Socialist mayor. Phil Donahue asks if he believed in competition. Bernie Sanders said no. He said he believes in cooperation, a.k.a. Socialism/Marxism/Communism. Bernie has certainly been very consistent. He’s been saying the same things the past 30-40 years, but he’s been wrong the whole time. He never grew up, became wise, or developed intellectually. He’s Peter Pan except he can’t fly. The stock market has barely started to react to the possibility of a Sanders president and that possibility may be becoming a probability. And if not Sanders 2020, Alexandria Ocasio-Cortez is in a good position for 2024 Frustrated father questions Elizabeth Warren about her student loan policies and she laughs in his face. Gold is up better than 4% for the year and there are more reasons to be bullish on gold stocks.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

While I was at VRIC, Trump was in Davos touting to other world leaders the “unmatched” period of prosperity America is experiencing, thanks to him. Trump claims that nobody benefits more from his presidency than the middle class. In reality, the only people benefitting are the asset owners - the 1%. There are more women than men in the workforce for the first time ever. Housing prices and household income are at all-time highs. Trump spins these as signs of a healthy economy, but the opposite is true. This period of prosperity America is going through is a figment of Trump’s imagination, but the Republican party and Wall St aren’t questioning it. On CNBC, Trump tells Joe Kernen that he still doesn’t know who’s buying these negative yielding bonds. He admits to having no intentions of paying off the national debt or cutting government spending. Trump pretends we can pay for it all with the bubble that he thinks is an economic “boom.” Trump and the Fed are proving there is no exit strategy for these inflationary policies. Tesla stock, the most heavily shorted stock has skyrocketed, putting shorts through the grinder. Sanders passes Biden to #1 in the Democratic presidential polls. Democrats are worried because Sanders will actually try the socialist policies that they know won’t work. It’s not common a Democratic presidential candidate has principles. Unfortunately, this time those principles are socialism. The road to hell is paved with good intentions and the people who vote for Sanders are going to be feeling the burn worse than anyone. If you thought socialism was scary, AOC has gone full blown communist. She says inventors, business owners, and entrepreneurs are stealing off the backs of the workers and the workers should organize and steal those businesses back. AOC and Bernie are reactions to Trump and when this economy finally blows up on Trump’s watch, it’s going to pave the way for a socialist (or worse) president of the United States of America. And there may not be any coming back from that. Also, I lost all my bitcoin. They’re gone.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Dow Jones closed above 29,000 today for the first time ever. Part of the impotence of this rally has been anticipation of the trade deal with China, but the majority of the rally is due to the policies of the Fed as it quietly returns to quantitative easing. The so-called good news of the trade deal is in the past and traders who were buying the rumors may start selling off on the facts. Especially since the facts of the trade deal didn’t even live up to the rumors. The trade deal is a big fat disappointment that didn’t live up to Trump’s hype. It’s not even a real deal; it’s written as a bunch of suggestions that either party can back-out of at any time. The deal is a double-win for China. It supposedly commits China to buying more food and energy from the U.S., but China ends up getting the commodities they need with an easy way to unload their U.S. treasuries before they collapse. The Fed will have to buy more treasuries and print more money, to keep interest rates from going up. Gold market stronger now after the trade deal signed. Gold’s technicals haven’t looked like this since 2000 when the dot com bubble burst and gold’s bear market ended. Americans don’t see the gold bull market that foreigners do because gold has made a new high in every currency except the U.S. dollar and is outperforming foreign stock markets, but not the U.S. stock market. Fed released a weak jobs report with a big loss of 12,000 manufacturing jobs. Americans are working less hours and getting paid less for the hours they work. Bloomberg wins the democratic debates by not showing up. Democratic presidential candidates are right about healthcare costs being too high, but they’re wrong about the reasons and solutions.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Tensions between the U.S. and Iran are less diffused than everyone seems as the propaganda strengthens on both sides of the political theater. NASDAQ, Dow, S&P hit new record highs. Trump is eager for Dow to hit 30k so he can tweet up a storm claiming credit. Risk premiums for crude and gold are still there although gold mining stocks got obliterated as war became less imminent. Investors were spooked as gold dropped from $1610 to $1540 in a 24 hour period. Despite gold mining stocks getting crushed, gold itself is up 2% for the year. This presents an even better buy for gold stocks as they catch up to gold’s $1550 support. People are underestimating the popularity of socialism in America and investors are underestimating the possibility of a Bernie Sanders win. A lawsuit tries to postpone California’s new law aimed at the gig economy. Lawmakers say it’s to protect independent contractors, but it’s the independent contractors filing the lawsuit.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

We had a break-through in gold, which I predicted could happen. That means there’s a very good chance gold is done going down. All signs point to a big bull market in gold and the window of opportunity to get in on it may be closing rapidly. While recording this podcast, reports of a U.S. airbase in Iraq under attack from Iranian missiles launched gold above $1,600. It’s amazing how little people understand about how well gold mining stocks are performing. While the S&P has returned 72% over the past 4 years, GDX has returned 125% over the same period. Over the past 5 quarters, S&P is up 12% while GDX is up 58%. You won’t hear any of that on CNBC. I think the best way to gain exposure to gold mining stocks is to buy the Euro Pacific Gold Fund (EPGFX), managed by the expert, Adrian Day. Morning Star gave the Euro Pacific Gold Fund 5 stars and it’s been the number 1 performing gold fund from 2013 to 2018. The fund is also rated to have above average returns and below average risks, making it one of the smartest investments you can make right now. Videos to watch: Peter Schiff at Occupy Wall Street "I am the 1%. Let's Talk" Democrats: Let’s Ban Profits 2006 Mortgage Bankers Speech Walmart Shoppers Support Everyday High Wages Is a College Degree Worth the Cost? You Decide Peter Schiff Argues Against 3 Typical Liberals (my last appearance on CNN) Mr. Schiff Goes to Washington (first Congressional testimony) Mr. Schiff Returns to Washington (second Congressional testimony) Peter Schiff Stand-up Comedy . Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Markets off to a volatile start for the new year. U.S. assassinates an Iranian military general driving up safe haven investments like oil, gold, Swiss Franc, Japanese Yen, Treasury market. Gold outshines them all. But is the world safer or more dangerous than ever? Bitcoin touted as the best performing asset of the decade. But it’s not that simple. CNBC thinks the hardest job for the Fed is creating inflation. The biggest problem is really their inability to stop inflation. The monetary spigots are flowing heavy and they’re going to flow even heavier leading up to the election. It’s a dangerous time for markets with the coming election. There was a time when America would never vote in socialism, but that’s no longer the case. This election may bring in one of the largest single day stock market drops in history.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Second to Last Trading of the Decade... All of the major U.S. stock market indexes finished the second to last trading day of this year in the red. Although, it's not just the second to last trading day of the year, it is the second to last trading day of the decade. Technically speaking, I know the next decade doesn't really start until January 1, 2021, but practically speaking, it's going to be the 20's. So, to me, that's a new decade. Closing With a Gain of About 30% in the S&P So let's just say tomorrow is the last trading day of the decade.  And even if we get another decline tomorrow, I don't know what's going to happen - maybe we'll get a bounce, but I doubt it will be significant enough to turn the tide on this bull market or this bubble - bear market rally - whatever you want to call it - but it looks like we're going to close the year with a gain of about 30% in the S&P 5000. Not our Strongest Year in Recent Memory That's going to put the market with its best annual increase since 2013 - which, of course is not that long ago. So we did have a rise in 2013 when Obama was President, where the S&P had a year that was as good as this year, with Donald Trump as President. So clearly, it's not simply a case that we have Trump as President and that's why we have such a strong market. We've  had plenty of years where the market was this strong and Trump wasn't President. In fact, Barack Obama was President.  One of the reasons that the market was so strong this year is because it finished last year so weak.  I think the 4th quarter of last year we were down 13 - 14% - but it was a very big decline which would have been much much bigger but for that record surge the day after Christmas.  Remember that Boxing Day - I think the Dow was up about 1,000 points.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Liz Claman, Gene Epstein, Jim Grant, Peter Schiff, David Tice, Tom Woods at the NYC Premier of Jimmy Morrison's "The Bubble" Order The Bubble here November Personal Income and Spending Positive On Friday, all of the major U.S. stock market indexes finished the day and the week positive, in record territory. The only index not in record territory (but it did make a new 52-week high) is the Russell 2000. The supposed catalyst for Friday's optimism was a better than expected report on Personal Income & Spending for November. They were looking for personal spending to rise by .3% following the prior month's flat number.  They actually revised that one up to +.1%, and the November number came out at +.5%, so incomes rising.  Spending came in and met expectations of +.4%, so apparently the savings rate ticked up a bit. But this was better than expected. I think that caused some optimism on Wall Street. Kansas City Manufacturing Index Disappoints But the markets likely would have gone up, anyway, even if that number disappointed. We did get weak data from manufacturing.  Kansas City manufacturing number came out for November.  It was supposed to be weak at a -3%, but it was even weaker at -8%. That is the lowest level for this index in 4 years. . In fact, we've had 6 consecutive monthly declines in the Kansas City Manufacturing Index, and that really is par for the course. We get stronger economic data when it comes to people spending money but we have weaker data when it comes to generating real production, real wealth, goods production manufacturing - all that data comes out weaker than expected. U.S. Steel Lays off 1,500 Workers in Michigan In fact, we got news on Friday that U.S. is going to be laying off more than 1500 workers in the state of Michigan. Of course, this flies in the face of the fantasy that is being promoted by Donald Trump that the steel industry is back - the steel industry is booming. He's been talking a lot since he's been elected about the steel industry, in particular, about how he saved it, and how it's great. But here we are, laying off workers, shutting down production facilities.  This is a sign that reality is in direct contradiction to President Trump's fantasy.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Narrative of Racism So I decided to record a special edition of the Peter Schiff Show Podcast, and it's very important topic, and I also wanted to include some video. It's not directly related to the economy or the markets, but really, indirectly, it is, because this nation is being pushed to the left by a lot of false narratives.  One of them, being racism, particularly when it comes to the issues of wealth disparity and trying to blame the difference in wealth between African Americans and the general population, and the reason for this is because of a pervasive and systemic racism, and that the only way that African Americans can succeed is if we elect a bunch of socialists who will enact laws to save them from racism and to re-distribute the wealth. Media Remains Steadfast as Evidence Contradicts And part of that narrative really was advanced back in 2012 with the Trayvon Martin incident with George Zimmerman and people who were listening to the Peter Schiff Show back in 2012, I really covered this topic pretty extensively. I was one of the earliest defenders of Zimmerman, and the reason I did that is because, as the evidence was coming out, it was completely contradicting the false narrative that was being pushed by the Martin family, by the media.  Yet the media remains steadfast in their opinion, even though they had all this evidence that contradicted it. New Information Brought to Light Well, the reason that I've resurrected this topic is that now George Zimmerman is in the news again, he has filed a $100 million lawsuit against the Trayvon Martin family, the mom and dad, the lawyers, prosecutors, and the media is again pushing the same false narrative.  They are writing all sorts of articles really vilifying Zimmerman all over again: "How dare this guy file this lawsuit!  Hasn't he done enough damage? He murdered a child and now he is suing the parents of the victim - all this terrible coverage.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

U.S. China Trade Deal Rumors are True The U.S. stock market continues to add to its gains; the Dow Jones is up another 100 points today - a new record high: 28,235.89. We were up better than 200 points at one point in the day, but all the indexes are hitting new 52-week, or record highs.  Basically, we continue to bask in the light of the U.S. China Trade Deal that on Friday, we finally got news that the rumors of a trade deal were actually true. There actually is a trade deal because the Chinese have agreed, or admitted that they, too have come to some type of understanding with the United States on a Phase 1 Deal. Lost in Translation? Of course, we don't actually have the phase 1 deal yet because nothing is actually official; nothing has been signed. In fact, both sides seem to have different versions over what they have agreed to; so maybe some of the stuff has been "lost in translation".  We'll have to see if they can actually put something in writing where both sides will agree. A Truce in the Trade War But one thing we know is that whatever is involved in this deal - this is not the resolution. This is not a trade deal; this isn't even the end of the trade war. I would say it's probably a truce. It's not an outright surrender, although that's probably coming eventually, but it's really a truce in the trade war, and a de-escalation of arms. One of the things that the U.S. is supposedly committed to is rolling back the tariffs. Not only calling off new tariffs that were supposed to take effect over the weekend, but eliminating or reducing the tariffs that are already in place. But as far as a comprehensive deal that actually delivers the type of structural change that President Trump promised; nobody thinks that any of that stuff is involved in this deal at all.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Fed: Interest Rates on Pause Today the Federal Reserve had its last official meeting of the year. And, as was widely expected, the Federal Reserve was unanimous in their decision not to cut interest rates. They didn't even consider hiking interest rates, but they decided not to cut them any further for now. So, they're on a pause.  The short-term rates are now 1.5%. The target is 1.5% to  1.75%, and the idea is that the Fed is going to remain there for some time.  Now, I don't really think it is going to be that long before they cut rates. Fed Will be back to Rate Cutting Soon I was on Fox Business earlier today with Liz Claman, and Liz asked me when I thought they were going to cut rates in 2020. I said, I don't know the exact meeting,  that they're going to choose to do it.  I think a lot of it depends on what's happening with the stock market. As soon as the stock market starts to sell off, if that's what happens, I think that could motivate the Fed for the next rate cut. And maybe, if we get enough bad economic data, the Fed might move for that reason. But whatever the reason is going to be, whatever the excuse they're going to make up, the Fed is not done cutting. I don't think they will pause until 2021 or later, as a lot of people seem to believe.  I think the Fed is going to be back in the rate cutting business much sooner than that. The November deficit: $2o9 Billion Of course, the quantitative easing business - that's not going to stop. They're going to continue to expand their balance sheet and print money so that they can prop up the bond market and prop up the stock market and prop up the government.  So that is going to continue.  In fact, we got the official budget deficit released, I guess at about the same time as we got the Fed decision.  The November deficit: $2o9 billion.  We've not got two months into this quarter and the deficits are running much higher than they were earlier, so even though the economy is supposedly getting better, the deficits are getting bigger.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

The Trayvon Hoax: Unmasking The Witness Fraud That Divided America Jeantel's Lies: Prosecution's Star Witness in George Zimmerman Trial Commits Perjury Special Podcast about a Hoax I wanted to to take some time and record a special podcast today, really having nothing to do with the markets and the economy and just focus on a topic that I haven't discussed in quite some time. I do believe that the politics surrounding this event are relevant to the economy, and to the markets, although, because really has set in motion political winds that are blowing the country in a direction that is very detrimental to the U.S. economy and to the markets. Circumstances Surrounding the Death of Trayvon Martin I think it was 2012 when the Trayvon Martin story really took off in the U.S. If you remember, George Zimmerman is the person killed Trayvon Martin and, initially, everybody was quick to believe the completely ridiculous-sounding story that was being perpetrated by the Martin family and their attorney, as to what happened, and the circumstances surrounding the death of Trayvon Martin. Who is the Racist? I was one of the earlier who came out and I was defending George Zimmerman.  I took a lot of heat back then, initially, because people were saying, "Hey, it's racist for me to be defending George Zimmerman. But the reality was, I thought it was racist for the people to have believed the complete nonsense - a ridiculous story about what happened. It made a lot more sense to me, just judging by the facts, not looking at the races of the individuals or any of that, just judging by the facts - George Zimmerman's version of events made sense. Plausible vs. Implausible The other version made no sense at all.  I think it was the racists who were so quick to dismiss George Zimmerman's version, which made sense, was supported by all the evidence and the other witness testimony that came out - rather than simply believing the parents of Trayvon Martin or their lawyer.  Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Schiffbooks.com Letusdissagree.com Mene.com Dow Up From Last Week's Trade Deal Woes The Dow Jones closed out the week with 3 plus days in a row, culminating in today's 337 point jump, back above 28,000 - the Dow settling in at 28,015.06.  Remember, when I recorded my podcast on Tuesday, we had just finished 3 consecutive down days in a row, and that's been reversed.  The catalyst for the decline, prior to my last podcast was negative news on trade.  In particular, the news that Donald Trump, at a press conference, let the cat out of the bag and said, "As far as I'm concerned, it would be better if we waited until after the election to have a trade deal with China. And, of course, the markets were expecting a trade deal any day and all of a sudden Trump is saying, "Hey, I think it's better to wait until after the election." - which is a year from now. Of course, it's not a lock that Trump is going to win a second term. Nonetheless, that was a negative for the market. Positive Trade News Equals New Dow Highs Well, what happened, was, on Monday morning, pretty much before they even rang the bell, the White House was already doing damage control and walking that back because all of a sudden I started reading these headlines, "White House Says Trade Talks Going Well". Of course, that means nothing. But you have a lot of traders now who are keying in on these press releases. As soon as they see any positive news, they just buy. As long as positive trade news makes the market go up, whenever they see the positive trade news, they're going to buy. Will We Ever Have a Fact to Sell On? The reason that all of this news makes people want to buy stocks is because everybody believes that when we do get a deal, the stock market's going to soar. So everybody wants to be in so they can sell that rally. Of course, I've been saying since the beginning that I think it would be a "buy the rumor, sell the fact", which is why we're probably never going to have a fact to sell.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

What Phase One? When the Phase One trade deal was first announced, it was October 11, I think was the date. And before that date, nobody ever heard, "Phase One". It was always, "trade deal, trade deal".  There was never any talk of Phase One.  Then all of a sudden Trump comes out and says, "We've completed Phase One! The Phase One deal is done. We have concluded negotiations, we have come to a deal. We have this great Phase One deal; it's already done. It's in the bag. We've agreed to it in principle, all we need is the formalities of putting it on paper. We're going to have a big signing ceremony, and it's all going to be done." Oh, and by the way, Trump said, "This is the greatest deal ever for American farmers. They have never had a deal this great; go out and buy some more tractors; I don't even know if we can fill this order, it's so big - it's the biggest order in the history of agriculture!"  It's a good thing farmers didn't go out and buy new equipment based on Trump's phony promises. Sending the Dow Up - Buy the Rumor! But in any event Marc Faber asked Wilbur Ross, "Do you regret this?" Do you think Trump should not have come out and said this?" And he said, "No, we don't regret it."  Of course, why should he regret it? The Dow rose by 1600 points following that comment! That comment sparked all sorts of more comments; the deal is imminent any day, any week or they're going to sign it here... "Buy the rumor, buy the rumor, buy the rumor!" And they pushed the market.  The Dow went through 28,000 on all that B.S. So why should Wilbur Ross regret that, when the comments worked? Bidding the Spoos Higher I said a long, time ago: "Trump is not talking to the Chinese. He's not negotiating, because if he was, he's the worst negotiator ever. He ought to read, "The Art of the Deal". What he is saying makes no sense, if you're trying to negotiate. The only way Trump's statements make any sense is if they're really designed to boost the stock market. He's not talking to the Chinese; he's talking to the algo's. He's talking to the traders. He's trying to bid the spoos higher.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Recorded November 26, 2019 The Radical Solution Should Be Free Market Capitalism The problem is, this coming crisis is going to be so bad, it's going to be so much worse than 2008 and you know it's all going to be blamed on capitalism. It's all going to be the left saying "We told you so!" "We cut taxes for the rich, we deregulated. Trump inherited a great economy from Obama and everything he inherited he squandered it with tax cuts for the rich." And things are going to be very tough. People will demand radical solutions. I wish the radical solution could be Free Market Capitalism, because we haven't had that in a long time - but everybody's convinced that that's all we've had. Even the people who supposedly defend capitalism think that it needs a makeover, that it needs to be re-done for the modern era. Get Government Out and Market Forces Back In We don't need to re-do capitalism. We just NEED capitalism. What we have to do is get all the socialism out of capitalism. It's giving it a bad name. We need to get government out of all this stuff so that market forces can get back in. How Old Is Too Young to Vote? I want to finish up the podcast talking about voting. So I read this article about a town, Brookline, that had approved a measure to lower the voting age down to 16. That's part of the Democrat platform. In addition to doing away with the Electoral College and making D.C. and Puerto Rico states, they want to lower the voting age to 16. I don't blame the Democrats for wanting the 16-year-olds to vote; almost all of them are going to vote Democrat, because, they're only 16 - what do you expect? In fact, the Democrats want 14-year-olds - 10-year-olds, 5-year-olds! The younger the better! Directly Pandering to Children for Votes They're not old enough to know any better. It's so much easier to fool these people.  But I can just imagine elections where the politicians have to directly pander to children in order to get their votes. Raise the Voting Age So I tweeted that this is a step in the wrong direction. We shouldn't be lowering the voting age, we should be increasing the voting age. The response was, "Oh, my God!  How could you want to do that?".  We've talked about that on this podcast before. The voting age up until the 26th Amendment in the early 7o's was 21.  The idea was, if you're old enough to fight for your country you're old enough to vote. No. That makes as much sense as saying that if you're too old to fight, you're too old to vote.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

What a Shocker The phase one trade deal is not going to happen this year. What a shocker. If you remember, when Trump first surprised everybody and talked about a phase 1 deal. If you remember, it was never phases; it was one big comprehensive Deal. In fact early on, and I've said this before, the President scoffed at the idea that we would negotiate in stages. "That wasn't going to work, It's all or nothing, we need to get the big comprehensive deal. " Then all of a sudden he announces this phase 1 deal, and he say it's going to be the greatest deal, it's going to be great for farmers, the Chinese are going to buy 50 billion dollars worth of food; American farmers better buy some more equipment; we don't even know if they can fill this order, it's the biggest order anyone has ever had; it's the greatest achievement in the history of achievements - all this was supposedly a done deal. And then nothing happened. Phase One China Trade Deal Of course, Kudlow and other White House people would come out and,"Oh, the phase 1 deal is almost here - but now Reuters is saying it's not going to happen this year. Now, it's probably not going to happen next year either, I mean, maybe, because phase 1 - there's hardly anything involved in it, at least the way it is going to end up being. How About Phase 1a? But what I think the President should probably do is forget about phase 1. How about phase 1a? Let's break down phase 1 into a, b and c.  Let's at least do phase 1a.  First we could tease 1a, and then when we get phase 1a, if we ever get phase 1a well then we've got phase 1b to talk about! Surrender without Admitting Defeat Of course, none of this is going to matter, because none of the real stuff is going to be included in any of these phases. Whether it's 1,2,a,b…  Whatever it is, this is all a way for the President to try to save face and surrender in the trade war without actually admitting defeat.    Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Markets Making More Milestones The Dow continued its weekly winning streak with another milestone, closing above 28,000 for the first time: 28,004.89 to be exact.  That's a gain of 222.93.  Now, I'm sure everybody is getting their "Dow 30,000!" hats ready, because obviously that's not too far off, now from 28,000.  But it's not just the Dow that is setting records and crossing milestones. The NASDAQ - another record high today - up 61.81, closing at 8,540.83.  That's the first time the NASDAQ has been above 8,500.  The S&P also making new highs, up 23.83 - 3120.46 is the close. This is the first time the S&P has been above 3100. Russell 2000 Sitting Out the Party The only major index really not enjoying the party, although it was up again today is the Russell 2000, still not quite near an all-time record high.  That index is at 1,596.  Again, the Russell is the one that most reflects the domestic economy, and it is the domestic economy that is in a lot of trouble. In fact, the Dow rose today, despite more weak economic data that was released during the day. Industrial Production: Weak Probably the weakest data point of them all was on industrial production. It was supposed to drop again after falling .4% in September, and they did revise the September drop to -.3% from -.4%.  But instead of a .4 drop in October, which was the consensus forecast, we dropped by .8.  So twice as large a decline. In fact, I think you have to go back to March of 2009 to see a larger decline than that in industrial production.  Capacity Utilization really contracted as well, from 77.5; it went all the way down to 76.7. Halfway to Recession And we also got more weak news on business inventories, which were revised lower.  And I think that, and industrial production and some other weak data points that had come out caused the Atlanta Fed to reduce its forecast for Q4 GDP all the way down to .3%. It was at 1%, and now it's at .3% which is close to zero. And in fact, it's very likely that we could end up with a negative print for Q4 GDP, which means we're halfway to recession.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Why is Michael Bloomberg Actively Preparing to Enter the 2020 Presidential Race? I want to talk a little bit about Michael Bloomberg, entering the primary - and the reason that I think Michael Bloomberg is in. Bloomberg is now a Democrat, but he was a Republican.  He served as mayor of New York as a Republican for 2 terms. Then, I think he served a third term as an independent. But he was a Republican and now he's a Democrat. The reality is, he is a very middle of the road guy. He's a liberal Republican or a conservative Democrat. But conservative Democrats have not place in the modern Democrat party.  I think Bloomberg's motivation to throw his hat in the ring is the diminishing prospects of Joe Biden. Initially, everybody thought, "OK, Joe Biden's the guy." I think Michael Bloomberg was fine with a President Biden because it represented a continuation of the status quo and the status quo has been very good to Michael Bloomberg, do why wouldn't he want to continue that status quo? Socialists are Frankenstein's Monster Consuming the Democratic Party But with the rise of Elizabeth Warren and Bernie Sanders and the increasing likelihood that Warren could actually be the next President, I think that scares the hell out of Mike Bloomberg and I think it also scares the hell out of Mike Bloomberg's rich friends who are also Democrats. This is an example of Frankenstein and the monster. Baron Von Frankenstein created a monster and then Frankenstein's monster turned on its creator. And I think that's what these limousine liberals have done with the Democrat party. They have created this monster and now the monster is about to consume them. Rich Democrats Would Rather Re-Elect Trump Than Support Warren or Sanders I think what wealthy liberals are afraid to admit is, as much as they claim they don't like Donald Trump (and some of them don't like Donald Trump) they dislike Warren even more. A lot of these rich Democrats would rather see Trump re-elected than have Warren or Sanders elected. Now they don't want to come out and admit that, but they don't want to support a socialist. They're not that crazy - but they don't want the rest of the crazies in the Democratic party to know that.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Better Luck Next Fall I just got back yesterday from the New Orleans Investment Conference, and I actually came to Connecticut for a few days; I really wanted to experience some of the fall foliage.  It's normally at its peak in the beginning of November. But, unfortunately we had a big storm here - a lot of rain, a lot of wind, and it knocked most of the leaves off of the trees.  So you know what they say about the best laid plans… hopefully I'll have better luck next fall. Stock Market High on Trade Rumors But as the leaves have been falling from the trees, stocks have been going the other direction.  Yesterday, all of the major stock market indexes hit new record highs. I think the catalyst, again, were rumors about a potential phase 1 trade deal. Of course, it really is ridiculous now.  What rallies the market is not the rumor of an actual trade deal but the rumors of a phony trade deal - a phase 1 deal which really isn't a deal at all. In fact, to the extent that anybody is even celebrating phase 1, what they really celebrating is that the trade war is over. That Donald Trump has basically surrendered without admitting that he has surrendered.  In fact a lot of the talk about what the Chinese even need to get the phase 1 deal is for all of the tariffs to be removed. Not just cancelling the future tariffs, but to take away all the tariffs that are already there, which, of course would be a relief for the American consumer, who, contrary to Donald Trump's claim, they're the ones who pay the tax - not the Chinese. Buy the Rumor, Sell the Fact… Again? But, basically, what the markets would really be celebrating, is if we went back to where we were before the trade war ever began. Of course, this is not a victory for the president if all the markets could hope for, is a return to the status quo, but again, once we get that deal - if we get that deal, it should be a "buy the rumor, sell the fact", especially since the fact is not going to live up to the height of the rumor.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

New Highs in the Headlines We had record high closes today in the S&P 500, the NASDAQ composite; the Dow Jones not quite a new record but still up better than 300 points: 301.13 to be precise. Of course, all of the headlines, and President Trump - they're going to be claiming that the reason that we had these surging stock prices is because we had a stronger than expected jobs report.  We got the October nonfarm payroll that came out this morning and it was better than was expected. You had Larry Kudlow out there talking about how this is a fantastic jobs report.  It basically shows how we have this great economy; the greatest economy in the history of America, and that's the reason that the stock market is making record highs, because we have this great economy. Economic Data was a Mixed Bag Well, first of all, the jobs report is really not that great.  Sure, it was stronger than expected, but that's not why the stock market went up today. We had other economic data that came out that was weaker than expected, so it was an overall mixed bag. In fact, the Atlanta Fed came out today and downwardly revised their forecast for Q4 GDP from 1.5% down to 1.1%, and I think the New York Fed is actually below 1% in its forecast for fourth quarter GDP. So hardly the strongest economy in history, yet the markets and President Trump are certainly celebrating like the economy is strong. Nonfarm Payroll up from an Upwardly Revised Previous Month But let me get to the tale of the tape first in the jobs report, because we were looking for a weak number. So the bar was pretty low. The consensus was for 90,000 nonfarm payroll jobs, and one of the reasons was because of the striking GM workers, so they were going to be subtracted from the numbers.  So that was already baked into the cake. We ended up getting 128,000 jobs, so nicely above those diminished expectations.  But probably more significantly, they went back and upwardly revised the number they told us for the prior month, which was originally reported at +136,000.  Now the government claims it was +180,000.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

The Fed Slashes Interest Rates for 3rd Time As expected, the Federal Reserve cut interest rates today.  This is the third rate cut of this cycle.  We're now down to 1.5%. But of course, what everybody has to remember is a year ago, when the Fed was hiking interest rates, the forecast from the Fed was that they were going to continue to hike rates.  They were supposed to have another 3 or 4 rate hikes in 2019.  And, of course, a year ago, as the Fed was hiking rates, they were still shrinking their balance sheet and they were going to continue to shrink it. They were talking about auto-pilot. They were going to continue to do $50 billion/month of quantitative tightening.  And they said this with a straight face.  And everybody believed them. Not a Surprise to Me Of course, everybody except me and maybe a few other people out there in the financial media. But I was telling anybody who would listen - which was not that many people in the mainstream, but certainly the people who listen to my podcasts, that none of this was going to happen. I said that the Fed was going to have to stop hiking rates, and that they would be cutting rates in 2019, and that not only were they going to stop quantitative tightening, that they were going to have to go back to quantitative easing. And that's exactly where we are. A Distinction without a Difference Although, Jerome Powell went out of his way - I think the first thing that he said when he made his prepared remarks - was to reassure everybody that what the Fed was doing now, with its repo program was not quantitative easing. He drew a distinction between what the Fed was doing when it was doing QE and what it is doing now when it is not doing QE.  The main distinction had to do with the maturities of the debt that the Fed was buying.  He said that when they were doing QE, they were buying longer term government bonds, but that now, they're buying shorter term government bonds and so therefore it's not QE. But this is really a distinction without a difference.          Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

I am Back! I am back! I know a lot of people have been upset that I haven't been able to do a podcast in almost 2 weeks. The reason I've been absent… I just haven't been feeling well.  I've been coughing a lot and and haven't been up for doing a podcast - I'm doing one today, though.  I'm still a little bit sick… but I figure it's been long enough, so I have to talk a little bit about what's on my mind. Dollar Index Trending Lower First of all, there hasn't been that much activity, I guess, in the markets over this time period. The U.S. dollar has generally been weaker.  It has been trending down.  It hasn't really broken down yet, but it is going lower.  In fact, the dollar index closed today near 97.69. so that is lower than it had been.  Remember, a few weeks ago, the dollar index was above 99. So the dollar is trending lower. Interest Rates Up - Bond Prices Down Interest rates are actually moving higher.  Bond prices are going down.  The yield on the 30-year U.S. Treasury now is at 2.26, and I think this is significant because it really shows the problems that are building in the economy because the dollar is weakening and interest rates are rising. That is going to mean higher consumer prices, it's going to mean higher borrowing costs; now of course, the Federal Reserve is doing everything it can to artificially suppress interest rates. One of the stories that I've read several times over the last couple of weeks is how the Federal Reserve is having to do more repurchase agreements; having to increase the size of the amount of Treasuries they're buying in the market. I didn't see that in today's balance sheet numbers; the balance sheet was up only about 2 billion over the prior week.  But I have a feeling that the number is going to be much, much higher than that when we get it a week from today.        Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Don’t miss my upcoming appearances: The Dallas Money Show October 13-14 and the New Orleans Investment Conference, Nov. 1-4 Dow jumps 300 points U.S. stocks finished out the week on a strong note; in fact we broke a 3-week losing streak. This was the first time in 4 weeks that the major averages finished higher on the week. When I recorded my podcast earlier in the week, the week was off to a rough start. But we had a turnaround.  In fact, today the Dow Jones was up 319 points on the day - about a 1.2% gain. The NASDAQ was up even more; 106 points, that's 1.34%.  The Russell 2000, even better, up 1.8%.  The Dow Transports were the stars of the day.  They were up 2.23% - 224 points.  Look at stocks like Apple, rising almost 3% to a new all-time record high. Rumors and News Driving the Market There was a lot of news driving the market today. Initially, we got rumors of some type of Brexit deal that potentially was imminent. Of course, there have been all sorts of rumors that have never panned out regarding a Brexit deal. But this morning, there was a rumor that really was causing a lot of buying in the European markets and that spilled over into the U.S. futures, which helped the U.S. market.  And of course there was a lot of brewing optimism over some kind of impending trade deal with China, although that news didn't come out until very close to the close. U.S. Consumer Sentiment Climbs to 3-Month High in October But, earlier in the day, we got the Consumer Sentiment number for October, and the markets are already higher by the time we got this release, which comes out at 10am; the market opens at 9:30. The prior month was 93.2, and the consensus was for a slight drop in consumer sentiment to 92.  After all, there are a lot of reasons for consumers to be less optimistic now than they were back then. But the consumer… surprise - ended up being more optimistic. The number came out at 96 and that sent the price of stocks much higher.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Don’t miss my upcoming appearances: The Dallas Money Show October 13-14 and the New Orleans Investment Conference, Nov. 1-4 Another Weak Day in the Equity Market We had another weak day in the equity market, so the 4th quarter is starting off on a particularly sour note. The Dow, down 314 points today. Technically speaking, closing right near the lows: down 1.2%. NASDAQ had a much worse day, down 132 points - that's 1.67%.  Russell 2000, similarly beat up: 1.7%, down 25 points.  The Transports really took it on the chin. They down 1.85%. 185 points down on the Transports. The money losing stocks, the recent IPO's continue to get beat up. The real debacle du jour was Smile Direct. That one was down another 15% today: down $2 - it closed at $11.34 right off the new low of $11.20.  Remember, this stock came public less than 2 weeks ago and it was $23 a share.  The highest it actually traded was $21.10. Now we're down better than 50% from the IPO. Fed: QE but not QE But I really don't want to spend a lot of time talking about the markets today.  In fact, I only want to talk about one thing, and that's the Fed and the return to Quantitative Easing . I wasn't even going to do a podcast today; Yom Kippur starts in a couple of hours so I was just going to skip it. In fact, I wasn't even going to do one tomorrow - I was probably going to wait until Thursday. But then I was watching this press conference with Jerome Powell where basically the Fed came out and said they were doing QE, except they said they weren't doing QE. "Increasing Securities Holdings to Maintain an Appropriate Level of Reserves" There's an old saying: "Never believe something until it's been officially denied. Jerome Powell went out of his way today in his statement and in the Q and A that followed to emphatically say that the Fed is not doing QE. This is an exact quote from Powell: "This is not QE.  In no sense is this QE."  Except, in every sense it's QE, because it's exactly QE.  There's also an old saying," If it walks like a duck, it looks like a duck and it quacks like a duck, it's a duck." Well, this looks like QE, it smells like QE, it quacks like QE, it walks like it… it is QE! What is the difference between QE and what the Fed is now doing? I wish someone would really ask that question.  In his prepared remarks, this is what Powell said: “As we indicated in our March statement on balance sheet normalization, at some point, we will begin increasing our securities holdings to maintain an appropriate level of reserves,” he said. “That time is now upon us.” Already? In March they said that "at some point"?  Did anybody back then think "some point" meant "NOW"?Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Don’t miss my upcoming appearances: The Dallas Money Show October 13-14 and the New Orleans Investment Conference, Nov. 1-4 The Weakest First Two Days of Any Quarter Since 2008 Before I get into what happened with today's nonfarm payroll number and the 372.68 rally in the Dow that it helped spark, I want to back and talk about what happened on Wednesday and Thursday, which were the 2 days following my Tuesday podcast, from the first day of the 4th quarter of the year. On Wednesday, the market sold off sharply, in fact at one point we were down better than 600 points on the day. We managed to close down just under 500 - 494 points.  At that point, the first 2 days of the 4th quarter of 2019 were the weakest first 2 days of any quarter - not just a 4th quarter - but of any quarter going all the way back to 2008, which was the year the market imploded because of the '08 financial crisis. Weakness in Private Sector Jobs One of the data points that came out on Wednesday that may have been a contributing factor - but probably not - was the ADP employment number, which is an early look at the official numbers that came out today.  This is just the private sector, which is certainly weaker than the government sector, and I'm going to get into that when I discuss today's numbers later in the podcast. But, the estimate was for 152,000 jobs created in the private sector and we only got 135,000.  But, not only that, there was a downward revision to the prior month, from 195,000 to 157,000.  So, this was additional evidence of economic weakness that was weighing on the market. IPO's Cancelled Due to Insufficient Investor Demand Also, again we had the follow over from what I had pointed out on my podcast not only on Tuesday, but on Friday the prior week regarding the weakness in the newly publicly traded companies - money losing companies - the fact that some of these companies had to cancel their IPO's due to insufficient investor demand. All of that was weighing on the market and helped produce that sharp decline. ISM Non-Manufacturing Down A Lot - Not Just a Little Bit And when we got into the market on Thursday, the market had opened initially a little bit higher.  But then as soon as we got the ISM non-manufacturing number (remember, we had gotten a very weak manufacturing number and was part of the reason we had the big decline earlier in the weak) but now we got the ISM non-manufacturing number and this number was forecast to come in at 55.5.  This would have been a reduction in the 56.4 that we had for August.  But instead of going down a little bit, the number went down a lot - all the way down to 52.6.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Don’t miss my upcoming appearances: The Las Vegas Trading Conference, Oct. 4-5 The Dallas Money Show October 13-14 and the New Orleans Investment Conference, Nov. 1-4 First Day of Q4 2019 Today was the first trading day of the 4th quarter of 2019.  And if today's action was a harbinger of things to come, it is going to be one difficult quarter for the bulls on Wall Street. In fact, when they rang the opening bell this morning, everybody was happy, the stock market was up, the dollar was up, gold was down again.  In fact, gold has had a pretty big correction since my last podcast. When You Live in Glass White Houses… Yesterday, gold saw a $25 decline; again, with a stronger dollar and a stronger stock market.  For some reason, I think investors were a little bit more optimistic over the last few days after my last podcast Donald Trump talked about - or there were some rumors that he was thinking about maybe de-listing Chinese companies from U.S exchanges, making it illegal or something for Americans to invest in China - which I thought was a very dangerous road for the President to go down. Remember, when you live in glass White Houses, you don't want to throw stones. Chinese Still Big U.S. Investors The United States benefits from a lot of direct investment from overseas, particularly China.  Chinese invest a lot in U.S. businesses; they're big buyers of U.S real estate, and, of course, they're still big holders of U.S. Treasuries. If the United States says, "Well, Americans can't invest in China." what happens if the Chinese return the favor?  I think we have a lot more to lose than they do. I think the following day or maybe over the weekend the President kind of backtracked away from that trial balloon and they said, "No, we're not considering that." So probably that was good news and a relief for the market that that wasn't going to happen.  Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Check out my podcast, "What it Means to be an American", Episode 265 Earthquake Hits Puerto Rico Last night, I was lying in bed, I wasn't asleep yet; I just finished watching television; my wife and I were still awake, and next thing we know, the house starts shaking. And it kept on shaking.  I couldn't believe I was in an earthquake. This was a decent-sized earthquake - it was over 6.0 on the Richter scale. The earthquake occurred in the ocean, but not too far from Puerto Rico.  I think it rattled a lot of the islands here in the Caribbean. I haven't felt an earthquake since I lived in California. To be honest, I never even considered earthquakes here in Puerto Rico.  I knew about hurricanes, but I really didn't think we would be hit by an earthquake - and we did.  Fortunately, it didn't do any actual damage; in fact, I don't think anything in Puerto Rico was damaged.  Of course, the big risk when you get earthquakes in the ocean is tsunamis - but that didn't happen.  In the meantime, I've got a tropical storm overhead as I am recording this podcast.  Tropical Storm Karen has arrived in Puerto Rico later than expected.  It was supposed to come this morning but it didn't get here until this afternoon, although "Karen" doesn't sound particularly menacing, and it's living up to its name. It's really just a little rain, not too much wind; so that's not bad. Disaster in the Cryptocurrency Markets The real disaster is not here in Puerto Rico with earthquakes and tropical storms; it's the disaster that is unfolding in the cryptocurrency markets.  We are seeing some real carnage - a real bloodbath over there. I think this is just getting started, because we've finally really broken down on the Bitcoin chart, although the biggest declines today are in the alt coins. Bitcoin is down about 13% right now. But this about the high that Bitcoin is been in the last half hour. We're trading up around $8500.  We did get as low as $8000; I think we maybe ticked below it briefly.  That means from the nearly $14000 high that's a better than 40% drop in the price of Bitcoin from that peak, which, by any definition constitutes a bear market.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Don’t miss my upcoming appearances: The Las Vegas Trading Conference, Oct. 4-5 The Dallas Money Show October 13-14 and the New Orleans Investment Conference, Nov. 1-4 These two videos were referenced in today's podcast: How government programs drive up college tuitions Is a college degree worth the cost? You decide Fed Proving Me Right As I surmised, when I recorded my podcast on Wednesday, it seems pretty clear that the Federal Reserve has already returned to quantitative easing.  And that didn't take long, because they just ended QT (quantitative tightening) and they've already begun QE. - Although, the Fed is not going to admit that that's what they're doing. Apart from proving me right, which was one of my forecasts from the very beginning, even before the Fed was talking about ending QE, I said they could never end it before they even started it. Monetary Roach Motel I had forecast what the Fed was going to do before they did it. And when they announced quantitative easing, not only did I say it was a mistake, but I said the Fed was checking us into a monetary roach motel from which we could never check out.  It was the delusion that we could check out - the Fed was able to convince the markets that it was a temporary policy and that they would only be doing it in an emergency, then they would unwind the policy and shrink their balance sheet and the market believed them. QE Plus Zero Interest Rates Equals Bigger Problem I didn't believe them, and I was warning everybody that the Fed was either lying or didn't know what they were talking about or foolish, but the markets bought into this nonsense.  So, clearly, if the Fed were going to go back to quantitative easing, they would basically be admitting that the policy was a failure. Because the policy was intended to be temporary, not permanent. If they have to do it again, then it proves that it wasn't temporary.  Again, what I said, by doing quantitative easing in conjunction with lowering interest rates to zero, they were simply taking a debt problem and making it much bigger by encouraging even more debt. So once you load up with debt, once you encourage everybody to lever up, then you can't pull the rug out from under them.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Don’t miss my upcoming appearances: The Las Vegas Trading Conference, Oct. 4-5 The Dallas Money Show October 13-14 and the New Orleans Investment Conference, Nov. 1-4 No Surprises from the Fed: Quarter Point Reduction A lot has actually happened since I recorded my last podcast on Friday. I want to start with what happened today and then work backwards.  First of all the big news of the day is the Federal Reserve did exactly what the markets expected and reduced interest rates by a quarter point. Fed: "Mid-Course Correction"? This is the second quarter point reduction since the Fed reversed course on monetary policy and started what it once called a 'mid-course correction".  The markets didn't really like that, so the Fed kind of walked that back. Although, in the press conference today, Powell was asked about the "mid-course correction" and he kind of dodged it a little bit, but still maintained the pretense that all is well in the economy. But anyway, the Fed delivered the quarter point cut #2.  It is now targeting the Fed Funds Rate at between 1.75% and 2%. Short Term Interest Rates Back Below 2% So we now have short-term interest rates back below 2% - certainly on the way to zero, maybe even lower, we'll see.  Jerome Powell was specifically asked about negative interest rates during the Q&A session following the announcement.  He basically said the Fed is not really thinking about negative interest rates, or don't think they're going to be doing  negative interest rates, but of course we'll see what happens when we get to zero, and the problems are not solved. The Fed may well do negative interest rates; they may well not want to let that cat out of the bag just yet. Bullard:  "Interest Rates are Too High" At one point there was some anticipation that the Fed would do 50 basis points but by the time we actually got the announcement this morning, I don't think anybody was really looking for 50 basis points. Although, in the decision to reduce rates, Jim Bullard actually dissented and said that he wanted a 50 basis point rate cut, rather than the 25, but there were 2 other dissenters who didn't want any cuts at all.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Don’t miss my upcoming appearances: The Las Vegas Trading Conference, Oct. 4-5 The Dallas Money Show October 13-14 and the New Orleans Investment Conference, Nov. 1-4 Dow 200 Points from Record High It was pretty quiet today in the equity markets; the Dow Jones managed to inch up 37 points, closing at 27,219 but, you know, how we're less than 200 points away from a new all-time record high in the Dow Jones. Long on Bonds? Bad Friday 13th! But the real action today was in the bond market. If you're suspicious on this Friday the 13th, and you were looking for bad luck, that's where you would have found it, if you were long the bond market.  Now, I've been talking about this bond market bubble for a long time - it's been inflating for a long time. Whether or not it's actually popped, well, we'll have to wait a little longer to find out.  But the carnage in the bond market that I mentioned on my last podcast has continued, with bonds continuing to suffer. Biggest Single Day Decline on 10-Year Treasury In fact, today was the biggest single day decline of the entire move.  The yield on the 10-year Treasury up to 1.903%.  Now, of course, it's still a very, very low yield, but when you consider that a week ago, we were as low as 1.429%.  That is a huge increase, percentage-wise, in the yield on the 10-year bond, which means a big drop in prices. Risk in Bonds if Interest Rates Go Up I'm not sure the percentage decline; maybe 5 or 6% was the drop, which, in the stock market, that's not a big deal.  Stock prices could drip 5% in a week - no big deal. But when the price of a bond drops by 5% in a week, especially a Treasury bond - people think about Treasury bonds as being risk-free - well, there's actually a lot of risk.  Especially when you're buying a bond with such a low coupon. There's a lot of risk if interest rates go up, then the value of that bond is going to go down.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Don’t miss my upcoming appearances: The Las Vegas Trading Conference, Oct. 4-5 The Dallas Money Show October 13-14 and the New Orleans Investment Conference, Nov. 1-4 Millions of Americans were Affected by the Terrorist Attack on 9/11 Today is the 18- year anniversary of the tragic events that surrounded the terrorist attack on the World Trade Center and the Pentagon back in 2001.  I do not wish to make light of the suffering of the individuals who died tragically, not only the people who lost their lives on the ground, but also the ones aboard the airplane that crashed into a field in Pennsylvania. And, of course, thousands of families were profoundly affected by those events, and they're still affected by those events today. Loss of Liberty and Freedom So, what I am about to say is not to minimize their suffering, but there are 300 million or so Americans who were not personally affected by those events, other than the fact that we certainly empathize with our fellow citizens who did have to endure the tragedy on a more personal level.  But on a broader level, the biggest loss, historically, from those events is not just the loss of lives and the family members who lost loved ones, but all Americans who lost individual liberty and freedom. Self-Inflicted Loss That is the real tragedy, historic tragedy of 9/11. The tremendous loss of individual liberty and freedom. America today is a far less free society than it was prior to those attacks 18 years ago. And that means that the terrorists won. They didn't win based on the damage that they inflicted.  They won based on the damage that we inflicted on ourselves. The self-inflicted wounds are much greater on a national scale than the terrorists' direct acts. And it's not just the 300 million Americans who are alive today. It's all the Americans yet to be born who are going to be born into a society that is far less free than America would have been but for these attacks.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Don’t miss my upcoming appearances: The Las Vegas Trading Conference, Oct. 4-5 The Dallas Money Show October 13-14 and the New Orleans Investment Conference, Nov. 1-4 The Numbers Really Look Bad in Private Payrolls Where the  numbers really start  to get bad is when you look at the private payrolls.  There, they were expecting 150,000 private sector jobs created. The private sector jobs are far more important than the government jobs.  The private sector jobs are self-sustaining. The tax payers are on the hook for paying the salaries of the government workers and the private sector employees, by and large are actually productive.  They're making our lives better. Manufacturing is Very Weak They were looking for 150,000 private sector jobs; we got just 96,000 jobs. AND, they revised last month's private payrolls down from 148,000 to 131,000.  Manufacturing - very weak: they were looking for 8,000 jobs - instead, we added just 3,000 manufacturing jobs in August and last month, July, they originally said that we created 16,000 manufacturing jobs and we only created 4,000 manufacturing jobs. 34,000 Jobs Created in Category "Government" Now if you actually look at the breakdown of all the jobs that were created, 34,000 jobs were created in the category of "government".  So, of all the different job categories, the one that added the most was government - 34,000 jobs. I think about 20,000 of these people were temporary hires associated with the 2020 Census. Where's the money coming from to pay for these government jobs?  It's being borrowed. We're borrowing more money to hire more government workers.  Of course, ultimately the taxpayers are on the hook for paying all these salaries, for paying interest on the money  borrowed, to pay all these salaries. Slowest Job Growth in Private Sector Creation in 8 Years In fact, if you look at the private sector job creation so far in the Trump Presidency, this year, 2019, is on track to have the slowest growth in private sector job creation in 8 years. Trump is out there talking about how this is the greatest economy ever - he's the greatest jobs president ever.  We've got the manufacturing sector, the weakest it's been in 10 years, we have the slowest growth in private sector payrolls in 8 years - this is a disaster!Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Don’t miss my upcoming appearances: The Las Vegas Trading Conference, Oct. 4-5 The Dallas Money Show October 13-14 and the New Orleans Investment Conference, Nov. 1-4 Silver DID Join Gold's Party Back in mid-July I titled my podcast, "Is Silver Finally Joining Gold's Party?". Well, I think we know the answer to that question. Since I recorded that podcast about a month and a half ago, the price of silver is up another 15%.  In fact, it's up better than 30% since the end of May. Silver having a sterling performance today. As I am recording this podcast, it's about an hour after the close of the U.S. market, we're up almost 90 cents an ounce. We're at 19.22. Gold Still Meeting Resistance at $1,550 Gold, not quite having as strong a day as silver; gold isn't making a new high.  It's up $19.50 on the day: $1548.  Still having some problems with the $1550 resistance area. GLD, the exchange-traded ETF did make a new high for this move, but the spot market did not register a new high - but I think that's just a matter of days - if not hours - before that happens. Silver is Leading the Charge Because silver is leading the charge. It's leading gold higher; pretty much the way I said.  A week ago, I titled my podcast, "Hi Ho Silver, Away" and that prompted a number of people to comment that somehow I had just capped the silver rally by getting too optimistic on silver.  Well, that was a week ago.  We just hit $18.00, we're now over $19.00, and I said on that podcast, I thought we would have a pretty quick move up to about $20, and once we take out $20, I think this thing could really, really take off. Overdue Move Down in the Dollar What is going to be the catalyst, I think, for a much bigger move up in both gold and silver is going to be the long overdue move down in the dollar. Paradoxically, when the dollar starts its decline, it is even possible that gold and silver take a bit of a breather, or maybe pull back a little bit, in terms of dollars, but pull back even more in terms of other currencies. Remember, as strong as gold has been in dollars, it has been even stronger in other currencies.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

  Don’t miss my upcoming appearances: The Las Vegas Trading Conference, Oct. 4-5 The Dallas Money Show October 13-14 and the New Orleans Investment Conference, Nov. 1-4 Let's Debunk Andy Yang's Platform I decided to take a little time out on my Labor Day to record a podcast debunking Democratic Presidential Candidate Andrew Yang. I've been getting a lot of emails about Yang; especially since he did the Joe Rogan Podcast about six months ago.  He said a lot of things that certain people find appealing, so I've been asked to comment on him and I've seen other notes about Andy Yang and I wanted to talk about him because, number one, he is rising in the polls. He's now in sixth place among the Democratic candidates; he's polling at about 3% ant that puts him ahead of established politicians like Cory Booker, Beto O'Rourke, Amy Klobuchar, so he's gaining in popularity and I think the trend is going to continue. Yang Rising in the Polls The next Democratic Debate is coming up in about a week and a half and they're no longer going to have two debates; they've narrowed it down to just ten candidates and Andy Yang is one of those 10.  I think as there are fewer candidates in the race, Yang is going to get more and more attention from the media and I think he is going to rise in the polls. Attractive Among a Bunch of Democratic Socialists To me, he is like the Bernie Sanders of this campaign. Sanders, and "Feeling the Bern"… he was popular in the 2016 campaign, mainly because he was the only alternative to Hillary Clinton, who was extremely unpopular.  So, given that matchup and there was only two choices, it made it very easy for Sanders to gain a lot of support.  He's having a much harder time galvanizing that support this time because people have a lot of alternatives. If you want a Democratic Socialist, there's a bunch of them to choose from. Clearly a Smart Guy… But But a guy like like Andy Yang, a younger guy, and clearly a smart guy.  I had not watched his appearance on the Joe Rogan Experience until just yesterday.  I decided to watch it, and that's the motivation for doing this podcast. Once I heard him talk about his ideas, I spent a lot of time on his website looking at a lot of things he didn't discuss with Joe Rogan.  One thing is certainly clear to me: he's a smart guy.  Clearly, if you gave an IQ test to all of the Democratic candidates, Yang would win.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Recorded August 30, 2019 Don't miss my upcoming appearances: The Las Vegas Trading Conference, Oct. 4-5 The Dallas Money Show October 13-14 and the New Orleans Investment Conference, Nov. 1-4 Waiting for Hurricane Dorian When I recorded my last podcast on Tuesday evening, we were getting ready for Hurricane Dorian, which was supposed to pass by the south coast 0f Puerto Rico on Wednesday.  But when I woke up on Wednesday morning, the meteorologists had the hurricane pretty much coming right over my house. It had changed course and had moved north, and it was supposed to come right through Puerto Rico, rather than just go by it to the South. But then the hurricane kept moving north, and it ended up missing Puerto Rico completely.  We were here, the kids were home from school, everybody was battened down waiting for what at that time was maybe a strong tropical storm… maybe a category 1 hurricane. Puerto Rico Spared from Hurricane But we didn't even get a rain drop. Not even a gust of wind, as the hurricane just missed Puerto Rico to the north. I think it did go by the U.S. and British Virgin Islands - didn't really do much damage, there, because the store hadn't intensified but Puerto Rico's gain will be Florida's loss. The storm did not go over Puerto Rico, and initially it was supposed to go over the Dominican Republic, and the mountains there, it's a much bigger island, and it would have really beaten up the storm, but because the storm was really uninterrupted, and it has been over water the entire time, now it looks like it will be a category 4 when it hits somewhere along the Florida coast. It looks like a pretty powerful storm. Broken Window Theory You're going to hear, as is always the case, economists are going to be saying, "Oh, well, this is good for GDP." Whenever there's a hurricane, people say, "Oh, look!  We have to spend all this money repairing and rebuilding everything that was destroyed."  But that is not good for the economy. If you haven't heard the "Broken Window Theory", Henry Hazlitt does a very good job of explaining that and refuting the Keynesian idea that disasters are somehow good for the economy.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Recorded August 27, 2019 Real Significant Action in the Market: Gold and Silver The real significant action today was in the gold & silver market. I wanted to mention today that on Friday, the U.S . dollar sold and then today we're back at 98. So the dollar is not weakening against other foreign currencies. In fact, most people are still talking about the strong dollar. Even Donald Trump talks about the fact that we have a strong dollar.  Now, Trump is bothered by the fact that we have a strong dollar, and he wishes it wasn't as strong, but he keeps talking about the strong dollar and everybody acknowledges that the dollar is strong. Silver is a Great Buy The problem is: the dollar is not strong. The price of gold going up shows you that the dollar is not strong. Gold was up $16 an  ounce: we closed at $1542.50. This is the highest close in over 6 years for the price of gold; but the real star today was silver. Silver was up 53 cents - $18.17. It's been a while now since silver was above $18. If you have been listening to my podcasts, you know that I have been pounding the table on silver. I've been telling people that silver is the key; it is really cheap relative to gold. In fact, it was better than 90:1. You needed more than 90 ounces of silver to buy a single ounce of gold. That was an all-time record low for the price of silver. Now we're at 85.  The ratio has moved back in silver's favor, but you still need 85 ounces of silver to buy one ounce of gold. That is historically extremely cheap. In fact, the only time it was cheaper was when it was 90. So it's still a great buy. Cash in some Gold to buy Silver I have been telling people, even at SchiffGold - we have actually been calling clients who we know own gold and have them sell us back their gold and buy silver, because you can get so much silver for your gold right now that it is a real bargain. Silver has never been this cheap, and so if you have gold and don't have any silver, it makes sense to buy some silver with your gold. Even after today's move, I would still say that that trade makes sense.    Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Recorded August 23, 2019 A Bad Day for Everybody Except the Democratic Candidates If you are one of the Democrats running for President, today was a pretty good day for you. But it was a bad day for just about everybody else; I guess other than gold investors, which I clearly am, but I'm also an American and I hate to see bad things happening to my country, even though I know bad things are going to happen.  I would just rather be among those who profit from these events than suffer additional monetary loss in addition to the losses you endure as an American citizen as a result of the ensuing chaos and loss of liberties. President Trump Lost It on Twitter Today, President Trump really kind of lost it. On Twitter.  Real time.  Maybe what Trump needs is somebody to be his official Twitter filter. Maybe there should be a policy where when Trump wants to tweet, there is like a one or two hour cooling off period where the tweets get reviewed, maybe edited, maybe someone gets to talk a little sense into him before he tweets.  But today's tweet storm probably really indicates that the White House, I think, is in disarray. I think the President realizes that the air is coming out of this big, fat, ugly bubble.  That he's not going to get out of Dodge. CBO Revised Up Budget Deficit Estimate Again He's trying to pretend that the economy is in great shape, yet we're hearing rumors that we need a payroll tax cut, we need stimulus for the economy.  Why would you stimulate an economy that's doing great? If we have the greatest economy in the history of America, why does it need even more fiscal stimulus? After all, we already have the most fiscal stimulus ever. We have the largest budget deficits in history.  In fact the Congressional Budget Office this week came out and revised up again their estimates for the deficit.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Recorded August 20, 2019 The Day the Yield Curve Inverted I am finally back in the United States - well, in Puerto Rico, technically is part of the United States, it's a territory - after my extended trip through Italy. I recorded that one podcast, and on the very next day, we had probably the most volatile day in memory. What happened that morning was that we got some weak economic data that came out of China and then we got some more weak economic data that came out of Germany and that immediately caused yields to drop around the world. In the United States, for the first time, the yields on the 10-year treasury dipped below the Fed funds rate. So the entire yield curve, out to 10 years was inverted. In fact, the 30 year yield hit a new low for this whole "quantitative easing - zero percent interest rate" cycle. The 10-year did not quite do that yet, but the 30-year did, and as soon as this happened, as soon as the curve inverted, I think it triggered a lot of sell programs in the stock market. The Media was Waiting to Flip the Narrative Stocks got clobbered, in fact, by the end of the day the Dow Jones was down 800 points; one of the worst point drops in Dow Jones history - not one of the worst percentage drops, but 800 points is a lot of points. And of course, as soon as this happened, the media began to cover the possibility of a recession to a much greater degree than they had in the past. If you remember, I said that this was coming. I said that I thought that maybe the media was waiting to flip the narrative on Trump, which is exactly what they've done. Fake News? All of a sudden, a media which was pretty much buying the booming economy narrative now is questioning whether the economy is actually strong. In fact, now you have Donald Trump accusing the media of being involved in some kind of conspiracy to make the economy look bad. In other words, a lot of the data that's been coming out indicating that the economy is weak, that it is slowing, that this is just Fake News.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Catch Peter on Simon Black's podcast, "Sovereign Man" recorded yesterday in Italy. https://www.sovereignman.com/category/podcast/ Catch Me on Sovereign Man There's been a lot of action over the last couple of days in the U.S. stock market.  In fact, the market just closed a few minutes ago, as I am recording. It is now after 10pm in the evening here in Italy. If you don't already know by now, I am out here in Italy with my son, and that's why I'm not recording as many podcasts as I normally would.  Although, I did record a podcast with my friend Simon Black, of Sovereign Man. I'm actually staying with Simon and some other guests of his for a few days in Umbria.  We leave tomorrow for Florence, then Venice and then home. So I recorded a podcast with Simon yesterday.  We talked for about an hour.  So if you want more material, just go ahead and have a listen to that.  You'll get over another hour discussion. Check out my Debate with Art Laffer on YouTube Also, I put up the YouTube video this morning that I meant to put up a couple of weeks ago. I uploaded Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Recorded August 6, 2019 Trade War: New Tariffs and Accusation of Currency Manipulation Yesterday was the worst day of the year for the Dow Jones.  At one point, we were down about 950-odd points.  I think we closed down under 800; 767 points.  But it was a follow-though from the weakness that we had on Friday and the news, too, that we had on Friday about the escalation of the trade war, where Donald Trump announced the imposition of new tariffs on China. Normal Movements in a Currency Market But what happened overnight in China was the yuan went below 7:1 against the dollar. This is the first time it has been that low since China started to allow its currency to appreciate against the dollar. It had been appreciating… now 7 is not that much weaker than it was when Donald Trump became President.  The Chinese yuan is only down 2-3% since Trump took office. That's not a whole lot, when it comes to a currency. Everybody is up in arms; now Trump is upset that the Chinese are weakening their currency, when the currency has not weakened very much.  In fact, the U.S. dollar is down about 2 or 3% against the Swiss franc since Trump became President. So what's the big deal? Switzerland isn't accusing the United States of manipulating its currency, just because the currency dropped a few percent. These are normal movements in a currency market. Dow Trading Higher after China Blinks? But the minute the yuan dropped below 7:1, everybody was saying, "Currency War!"  and "Who knows how much further the yuan is going to drop?" And so that sparked a lot of selling in the Chinese market.  And so the U.S. market went down… I think the futures went down maybe about 300 Dow points or so before we opened.  But then, as soon as we opened, we sold off hard and we did have a little bit of a rally into the close, so we closed off the lows, but as soon as the U.S. stock market closed, the futures sold off again. I think at one point last night, the Dow was off another 4-500 points before reversing on the Chinese yuan having a fix, I think, that was a little bit higher than the markets were worried about, so that caused the traders to breathe a little sigh of relief that the yuan didn't fall again. So that sparked a rally.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Recorded August 2, 2019 July NonFarm Payroll Report: Great? Not so Great This morning we got the release of the July NonFarm payroll report, and the general consensus among the analysts seem to be that it was s strong report, a solid report. I saw Larry Kudlow this morning on Fox Business talking about another "solid performance" in job creation.  But once again, once you look beneath the surface, and you don't have to look too deep, this is not a good report. The Bar Was Set Pretty Low First of all, the bar was set pretty low.  The consensus was 151,000 jobs.  That's not a lot of jobs, so it's not that hard to beat it, and we did.  We got 164,000 jobs.  But the reason we beat it was because we created more government jobs than the market expected. For private payrolls, the consensus was 160,000 jobs and we only created 148,000 jobs.  So we created 12,000 fewer private sector jobs than had been expected and we made up the difference by creating government jobs, whether they are for the Federal government or state government. Public Sector Jobs vs Private Sector Jobs But there's a very big difference between private sector jobs and public sector jobs, in that the taxpayer isn't on the hook to pay the salaries of the private sector workers. They're working in companies that are generating profits, so the salaries are paid for by the profits that the businesses generate. The Government Does Not Generate Profits The government doesn't generate any profit. It just has to suck up tax revenue; we have to pay for these.  So it's not a good thing that government gets more bloated and hires more people.  Especially since a lot of government bureaucrats tend to complicate things. They make everybody less efficient.  If we're hiring more regulators to slow down the economy and get in everybody's way, that's not a good thing. I'd rather have a lean, mean government. Of course, that's not going to happen.  Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Recorded August 1, 2019 Trifecta Podcasts this Week I hadn't planned on recording a podcast today; I did one yesterday and I figured I'd wait until Friday, get the … payroll numbers and finish up the week with a Friday podcast.  But so much action in the markets today, that I just couldn't resist.  I knew there would be a lot of people who would be excited to get a podcast today, so we're going to have a trifecta - we're going to have three days in a row of podcasts. Nobody on CNBC saw the Rate Cut Coming… But I Did Before I even get into a lot of the market action today, I want to talk a little bit about what I heard on CNBC this morning. They're still talking about the rate cut that we got yesterday and the host said, "Six months ago, nobody could have possible predicted… nobody would have believed that we'd be here today and the Fed would be cutting rates. And nobody could have possibly believed that the Fed would be ending the quantitative tightening program, because it's now over!" So, according to CNBC, nobody could have possibly predicted this, yet it happened anyway. Wait a minute: what about me? I predicted it. I said it was going to happen.  I didn't say it on CNBC because they won't let me on, but I said it on my podcast.  I even said it on their competitor network, Fox Business. Maybe if they watched Fox Business they would've known about this. I Predicted, Live, That December Hike Would the Last Hike So, really, what they meant is nobody on CNBC saw it coming. None of their anchors, none of their regular guests saw an end to quantitative tightening. None of them saw the rate cut. But I did. Not only did I predict that the Fed would cut rates, I predicted, live, that the December hike was the last hike. and that the very next move by the Fed would be a cut. And that is exactly what they did.  Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

I Bet an Ounce of Gold that Fed would Cut Rates Today I officially won an ounce of gold! I am referencing a bet that I made back in January of this year. During a panel discussion, I said that I though that the Fed was more likely to cut rates in 2019, than hike them.  I was the only person on the panel who believed that.  Everybody else thought that the Fed would be raising rates, which pretty much was the conventional wisdom in early January. Check out My Forecasts in December and January on YouTube So today, the Fed cut rates, which is what I have been saying they would do.  In fact, not only did I put up a small YouTube video of that bet, as well as a video of the entire panel on my YouTube channel. But I also cut a minute or so segment from my interview on the Monday in December 2018 the week the Fed raised rates, 2 days later on a Wednesday.  That was the final hike where the Fed went from 2% to 2.25%, to 2.25% to 2.5%. Fed Cut Rates by 25 Basis Points I was interviewed by Liz Claman- by the way I will be on Liz Claman's show tomorrow - they've renamed the show it is the Claman Countdown. But when I was on Liz' show back in December I made the forecast then: If the Fed raised rates in December that week, which, I thought they would, (everybody believed they would - they wouldn't want to disappoint the markets) I said that it would be the last hike, and that the very next move that the Fed would make would be to cut rates. And that is exactly what they did today. They cut rates by 25 basis points. December's Rate Hike Erased So they basically took away the last rate hike and the rate is now where it was prior to the December rate hike. Now, I believe that cutting rates was a mistake.  I think the Fed should have already raised rates by more than they have. Not because the U.S. economy is in great shape, because it's in lousy shape. It is a gigantic bubble.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Two Camps: Inflation vs Deflation I did the first live stream a couple of weeks ago; that was on bitcoin. I got a lot of feedback on that one and a lot of people were coming up with potential topics for the next one.  I think the most common request was for inflation or deflation: which one is it going to be? Because there are a lot of people out there who see the world similar to the way I do, as far as the problems that are confronting the U.S. economy in particular but the global economy, but everybody seems to fall into two camps as to how it is all going to go down; whether it is deflation that is coming - we should prepare for that, or whether it is inflation that's coming and you should prepare for that.  Now I am an inflationist.  I am in that camp. Other people in that camp may be, like Jim Rickards or Jimmy Rogers or Marc Faber - there are a number of people who would be in the inflation camp. Deflation would be guys like Robert Prechter, Harry Dent, there are a number of guys that are looking for deflation. Defining Terms Now before I really get into it, I want to talk a little bit about the terms, so we know what we're talking about.  Let's define the terms.  What is inflation? What is deflation? The actual definition of inflation, the actual meaning of the word, is an expansion of the money supply. What does "Inflate" Really Mean? That's what inflation is; it's not about prices.  If you think of the word, "inflate" - what does inflate mean? It means to expand. You inflate a balloon; when you inflate a balloon, it expands. Prices don't expand - they go up, they go down; they don't expand. What expands?  Money supply. When the government creates money, the money supply expands, like a balloon.  It blows up. So that's what inflation is, it is an expansion of the money supply. What is Deflation? Deflation is the opposite; it is a contraction of the money supply. Now when you inflate the money supply-you create more money - you have more money bidding up prices. So inflation will result in prices going up. But prices going up is not the inflation they are the consequence of inflation.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Participate in my next YouTube Live Challenge next Monday, July 29, 9pm EDT The Topic: It’s Inflation, NOT Deflation What is Really Happening to Corporate Profits? Both the S&P 500 and the NASDAQ rose to all-time record highs today; nominal highs, of course.  The Dow Jones didn't quite make it to a new high, it did close better than 50 points higher - 27,192.45, but probably the most interesting thing about the record high, is what's actually happening to corporate profits. I'm talking about operating profits, which are profits before you subtract interest and taxes.  I'm looking at some new statistics that came out today.  There were some revisions that came out from the government; some of them on the GDP, which I will get to a bit later in the podcast. Corporate Operating Profits Moved Sideways Since 2014 Just looking at corporate operating profits, it turns out that operating profits actually peaked in the third quarter of 2014.  That is while Obama was still President, a few years before Trump was President. So corporate profits - operating profits peaked in Q3 of 2014.  And they basically have been going sideways ever since, although they have been dipping recently.  If you take a look at the last quarter, operating profits are now the lowest they've been since 2011. Profits Have Gone up - but Not Operating Profits Now, the Dow Jones finished 2011 at about 12,000  - 12,200, I think was the end print. Well, we've more than doubled since then, but operating profits haven't gone anywhere. How are you doubling stock values when the profits are staying the same?  Now, of course it's not the profits - profits have gone up - but not operating profits. But operating profits are really more important if you want to look at what's going on in the companies in these averages. Operating profits is how much money the companies make from operating their businesses. Tax Cuts Boosted the Stock Market So, actual profits have risen even though operating profits have not. Why is that?  One: we got the big tax cuts. Corporate tax rates went way down so that enabled after tax earnings to rise. So that provided a boost to the U.S. stock market. But these corporate tax cuts are temporary. They are not permanent; corporate taxes are going to be raised.  Especially if I'm right about Trump being a 1-termer; the Democrat who succeeds Trump is going to raise corporate taxes.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

  Participate in my next YouTube Live Challenge next Monday, July 29, 9pm EDT The Topic: It's Inflation, NOT Deflation Not to Praise the Tea Party but to Bury It President Trump originally won the Republican nomination by appealing largely to what used to be the Tea Party. A lot of Tea Party Republicans ended up embracing Donald Trump; in fact I think a lot of the support that might have otherwise gone to Rand Paul (a Tea Party favorite who went to Washington in 2010 as part of the Tea Party movement); a lot of his thunder was stolen by Trump, who appealed a lot to Tea Party Republicans. Even Tea Party Corpse Seems to Approve of its Demise When Trump went to Washington, he wasn't exactly praising the Tea Party, but few people expected that he went to Washington to bury it, either. But that's just exactly what he just did by agreeing to this budget deal with the Democrats.  The Tea Party is dead! President Trump just put the final nail into the coffin, lowered it in the ground and covered it in dirt. The irony is, nobody seems happier about this than the corpse itself! The Tea Party Republicans are not up in arms against the Commander-in-Chief. Everybody still loves Donald Trump. Where is Rick Santelli? Even the father of the Tea Party, Rick Santelli, (he is credited for getting it all going) where's Rick? Where are his tears, where's the eulogy as his child is being buried? Again, no criticism, everybody thinks Trump is great… As I said, I was back at Freedom Fest, which they should have just re-named "Trump Fest". Continuation of Policies Once Criticized by Candidate Trump Donald Trump is simply continuing all of the policies that he once criticized in order to become President. When he was running for the Republican nomination,  he was extremely critical of the big deficits under Obama. He was even critical of the big deficits under Bush. That was one of the things I liked about Trump. He was criticizing big spenders of both parties. He was supposed to be different. He was rising above politics.  He was going to drain the swamp. And draining the swamp meant putting an end to the deficits.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

A Podcast from Freedom Fest in Las Vegas I'm still here in Last Vegas at Freedom Fest, but I wanted to take some time out to come up to my hotel room here and record a short podcast - otherwise I'd have to wait until Tuesday.  There's been a lot of stuff that's happened over the last few days, so I definitely wanted to record something; the quality might not be up to snuff.  But I figured I'd talk a little bit about what's been going on in the market. The Action Was in the Metals Markets Really, the stock markets - not much action.  All the major markets finished the day and the week lower; bond prices a bit higher.  The real action, though, was in the metals markets.  You wouldn't really know it to look at the price of gold, which was only up maybe about a dollar or two on the week, although we did have a big $20 rise yesterday, followed by a $20 drop today. I'll get into why that happened in a minute. Strength in Silver But the real action was in silver, which finished the week better than up 90 cents, I believe.  So, a very strong week for silver - even on days when gold was down, silver was up. In fact, even this morning, silver was up for a while while gold was down. I titled my last podcast, "Is Silver Finally Joining Gold’s Party?" and, as of now, it really looks like the answer to that question is yes. We've see a lot of strength in silver. Clarida Shakes Markets with Rate Cut Comments In fact, we had the biggest two-day gain, going back several years, in the price of silver. The big jump that we has yesterday really was set into motion by some Fed comments, although that probably was just a catalyst; it probably would have moved up anyway. But in particular, we had Clarida came out and he said that the Fed should not wait for the data to turn before cutting rates. Meaning that, "We should cut rates, anyway, even if we don't get negative data; even if it doesn't look like the economy is going into recession, we should just preemptively cut rates."Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

See Peter at the Las Vegas Freedom Fest – July 17-20 https://www.freedomfest.com/ Save $50 using promo code SCHIFF 93 Ounces of Silver for One Ounce of Gold I think the most interesting development today in the market was in the metals market. I've been talking on the podcast for some time about the spread between gold and silver, and the fact that silver has never been this cheap, in terms of gold. The spread got to almost 93:1, where you can buy 93 ounces of silver for one ounce of gold - which is incredibly cheap. Some Silver Stocks up 10% or More on the Day It's a great time to be buying silver, and I've really been pounding the table on people buying silver.  I recommended it again last night last night on my live YouTube event, I recommended it to my Managed Account clients on our last webinar, encouraging people to contact their brokers and maybe buy more silver stocks. In fact we had silver stocks today; some stocks up 10% or more on the day. Very, very significant jump up in the price of silver stocks, even thought the price of silver itself did not have that big a move. It was only up 19 cents. Silver Up as Price of Gold Fell But the significance of the move is that gold was down $8. So not only did silver have a relatively large move, although not large enough to normally cause silver stock to rise by 10%, but what was significant about it was that it rose as the price of gold was falling. This could signal - and it was looking to me technically that we saw some indications of this last week (I added to my own silver stocks last week  - but it looked to me like this trend was about to change.  We're still above 90:1. We're close to getting back to 90:1 even. But this is still an incredibly good opportunity to buy physical silver; to buy silver oriented stocks. But what I think this is showing me is that the bull market in gold is getting ready to kick into a higher gear.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

First Live YouTube Event Welcome to the Peter Schiff Bitcoin Challenge. First of all, I have to make a confession. I really was not familiar with YouTube live streaming and live chatting, and so the way I thought about this in my head; I thought that people were going to be able to talk. Like a Skype group conversation. People would be able to actually engage me and make their case in their own voice, and to be able to have a little back and forth. Post a Cogent Argument I didn't realize that the way I had to do this was with a chat, where people who want to make a point have to do it by chat. So I'm going to try my best.  Hopefully, this format can work. There are so many chats going by, it is hard to keep track of them. But I want to see if people can put together a cogent, concise argument.  Think of it like you're composing a tweet. I can try to address each point, and try to take in what you're trying to tell me as to why I'm wrong about Bitcoin, and why I should actually be embracing it as digital gold. Don't Forget to Subscribe to My Podcasts So, what I'm going to try to do is to see the best points that are being made on this chat, then read it out loud, and then address it, make a statement and the person who authored that particular text listens to what I have to say, if they want to do a follow up or something, they can do that, and hopefully I will see that follow up. I'm doing this chat in my home studio in Connecticut. I'm in the studio where I normally do my video blogs, so if you're new to this channel, you should subscribe it.  Two or three times a week a do these video blogs (podcasts) where I talk about all sorts of things that are relevant to people who buy Bitcoin.    Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

  Tune in to my first live YouTube event Monday, July 15, 9pm Eastern time U.S. Call in and convince me that I’m wrong on bitcoin! DJIA Record High Today Dow Jones set a record high today, closing above 27,000 for the first time ever.  We added 227.88 points on the day.  We closed at 27,088.08.  The record high, 27,088.45 set just before the close. You know, we added to yesterday's gains, the S&P 500 was also up again - not taking out the record that was set yesterday, but we did, for the second day in a row managed to trade above the 3000 mark, although we have yet to close above it - ever so close today: 2999.91. But a very small percentage gain for the S&P, not even a quarter of 1%. Russell 2000 Down .5% Broader market was weaker.  The NASDAQ was actually down slightly - 6.5 points.  The weakest index being the Russell 2000, down almost a half of a percent. It was lower during the day.  Again, the Russell 2000 is the index that is most sensitive to the domestic economy. I've pointed out on this podcast many times that it is the index that is the weakest, and is not even close to making a new high. And I don't believe it will. I think the broader market is going to roll over, and the small caps are going to lead the way. Traders Weren't Paying Attention to Bond Market In fact, if the traders were paying attention to what was going on in the bond market, we probably would have seen a bigger selloff today. I think we still have some euphoria left over from the two-day "Dove Fest" where Fed Chairman Jerome Powell was up on Capitol Hill basically green-lighting the July rate cut, which is coming up in a couple of weeks. Remember, when we got that better than expected nonfarm payroll report, the odds of a rate cut in July went down from about 100% to maybe 91%, and the odds really came down for the probability of a 50 basis points cut. So it was pretty much 91%, I think, 25 basis points, and that was it. Odds of Rate Cut in July Back up to 100% But after Powell released his prepared remarks, before he even made it up to Capitol Hill - just merely when the markets got a look at his prepared testimony, the odds of a rate cut in July immediately went back up to 100%, and, in fact the odds of a 50 basis point cut went back up to 20%.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

  Tune in to my first live YouTube event Monday, July 15, 9pm Eastern time U.S. Call in and convince me that I'm wrong on bitcoin! More Market News after Powell's Congressional Testimony The markets have been pretty quiet over the last couple of days, so I really don't feel like spending a lot of time on today's podcast talking about the markets.  I probably will have more to say, maybe on Thursday when I'll probably do another podcast because Jerome Powell is making his way up to Capitol Hill tomorrow and Thursday to testify before the House and the Senate. My guess is that some of his comments may move the markets; the currency markets, the gold market, maybe even the stock market. I'll probably have more market-oriented commentary to give you on Thursday. Laffer Curve for Dummies But there are a few things on my mind, which is why I wanted to take some time today and record this podcast.  One has to do with Art Laffer. Of course, Art Laffer gained fame back in the Reagan era. He came up with the "Laffer Curve" that he supposedly sketched out on a napkin one day and showed it to Ronald Reagan.  The Laffer Curve basically says that when you reduce taxes, or lower marginal tax rates, you actually end up collecting higher tax revenues because you incentivize people to work more, they earn more, and then they pay more taxes even if they are paying taxes at a lower rate. Obviously, the Laffer Curve bends at some point, because if taxes are zero, you collect no revenue and if taxes are 100%, you also collect no revenue.  Because if you're going to tax somebody 100% of their income, they're not going to work at all. Nobody is a complete idiot - they're not going to work for nothing. So at a 100% tax rate and a 0% percent tax rate the government collects exactly zero taxes. So somewhere along that curve is an optimal point where you would have the tax rate that generates the most amount of revenue.  Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

See Peter at the Las Vegas Freedom Fest – July 17-20 https://www.freedomfest.com/ Save $50 using promo code SCHIFF Markets Up on Low Volume A lot of people on Wall Street probably took today off; after all yesterday was the Fourth of July, the market was closed.  On Wednesday they closed the markets early in preparation for the July Fourth holiday.  So when you have a Friday where the markets are open, but you have a Thursday when they're closed… most people probably left for the Hamptons on Wednesday afternoon, and so were not in their offices or down at the stock market when we released the nonfarm payroll numbers today. ADP Disappointing Number Teed Up Low Expectations The June number, highly anticipated, as always, especially with a rate cut on deck now by the Fed. Most of the people who were probably handicapping the jobs number thought that it would probably come out weaker than expected. After all, most of the data we've been getting has been weaker than expected.  In particular, the jobs numbers, including the ADP report that came out on Wednesday, on that holiday-shortened trading session.  We got a disappointing number.  The consensus for private-sector employment for ADP was 140,000, and we ended up with 102,000.  So we had a significant miss in the ADP numbers. Back-to-Back Declines in Small Business Jobs But also, look at the employment components of some of the other numbers that also came out weak on Wednesday, like the ISM non-manufacturing index.  It printed 55.1 versus an estimate of 55.8.  The employment component of that index was notably weak, especially for small businesses which had major reduction in jobs, no only in this month but the previous month. In fact, I read a tweet by Dave Rosenberg who pointed out that he hasn't seen back-to-back monthly declines like this since February/March of 2008. That was the year of the Financial Crisis. He basically said that small business job growth is the weakest it's been in over 9 years. Bigger Decline in Factory Orders Now, small business job growth, that is the heart of the job market. That's where most of the jobs are created. So, if you look at a lot of the other data that has been coming out that might reflect on employment, you might have thought that there might have been a weak number. Look at the factory orders number that also came out on Wednesday. They were looking for a drop of .5% in factory orders, and instead, the orders dropped by .7%. So a bigger decline.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Recorded July 2, 2019 See Peter at the Las Vegas Freedom Fest – July 17-20 https://www.freedomfest.com/ Save $50 using code SCHIFF Markets Worried About Slowing Domestic Economy If you just looked at the U.S. stock market averages, you would conclude that not much happened today, but you would be wrong. Even though the S&P and the Dow and the NASDAQ were only up about a quarter of a percent, or maybe .3% - pretty small days.  Although, as has been typical recently the Russell 2000 was down .6% and the Dow Transports down .8%.  So the market, contrary to all the hoopla that  you hear about how great the U.S. economy is, the markets are more worried about the slowing domestic economy than they are the global economy. Strongest Economy in U.S. History? In fact, the Cheerleader-In-Chief, for how strong the U.S. economy is, of course, is Donald Trump. He is constantly up there tweeting about how strong the U.S economy is.  In fact, today, he proclaims that we currently have the strongest U.S. economy in history.  Now, I remember, when he used to tweet about h0w strong the economy was, that we had the strongest economy in history, he would say, "Oh it's probably the strongest economy in history…" I mean he would qualify it a little bit.  But now, no more qualifiers.  He is emphatic. Without a doubt, this is the strongest economy is U.S. history. Fake News Of course, I don't like hypocrites.  One of the things that Trump does, is he calls out the media for spreading fake news. The problem, is, he spreads fake news, too. When he is talking about how we have the strongest economy ever, that's fake news! So you can't live in a glass house and then throw stones and that's what the President does. More Weak Numbers In fact, if you look at the economic data that came out this week, the data was weak!  The ISM manufacturing number and the PMI number were weak . In fact they weren't as weak as they were expecting, but they were expecting weak numbers and we got weak numbers. Just not quite as weak. Although, the construction spending number that came out yesterday was considerably weaker than had been expected. Now, the Atlanta Fed is still at 1.54% .    Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

See Peter at the Las Vegas Freedom Fest – July 17-20 https://www.freedomfest.com/ Save $50 using code SCHIFF Recorded June 28, 2019 Dow Jones Had Best June Since 1938 U.S. stocks finished a down week on an up note, but the gains were not that large today. But of course, they were very big for the month of June. In fact, the Dow Jones just had its best June since 1938. That was during the Great Depression. S&P, not as big a record; you only have to go back to 1955 to find a June where the S&P did better than June 2019.  So these are big moves up. Percentage-wise, though, I think it's about 7%, approximately, maybe a little bit less. Stock Market Actually Lost Value In Terms of Gold Now the price of gold was up 8% during the month of June. In other words, while the price of stocks went up in terms of paper money - dollars - in terms of real money - gold - stocks actually lost value during the month.  Now, the first half of the year also comes to an end today, as does the second quarter, and this is the best first half of the year in 22 years. the S&P was up about 17.5% or so, the Dow about 14%. I think I'm counting dividends -  I'm just talking about the appreciation, so the total return would be a little better when you throw in the meager dividends that you can collect on U.S. stocks. NASDAQ was up about 20% - not much in the way of dividends there. Russell 2000 was up about 9%.  This is on the first half of the year. Stocks Recovering From Worst December Since Great Depression I'm sure you're going to read a lot of tweets from Donald Trump about how great the stock market is in 2019; how great the month of June is and why we should thank him for this spectacular performance in the stock market.  But the only reason that the market has done so well this year is because it got destroyed in the 4th quarter of last year. Remember, we had the worst December since the Great Depression, as well.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

See Peter at the Las Vegas Freedom Fest – July 17-20 https://www.freedomfest.com/ Save $50 using code SCHIFF Gold: Six-Year High Overnight Overnight the price of gold rose to a six-year high.  We almost got to $1440.  I think the high I saw was maybe $1438 - 39… we were up about $19 at the high point. Then it became a very volatile session overnight into the wee hours of the morning.  But I think by the time we got into the New York time zone, gold was still up about $10-$12-$13 dollars on the day and it was up about that amount when the U.S. stock market opened for trading. Before Today, Gold Stocks Up 20% Gold stocks initially had a small rally, but nothing big. Then they spent most of the day on the downside.  Obviously the gold traders are still very cautious.  As I have been saying, this gold breakout, even though we did see pretty big moves in gold stocks, I think the GDX, not counting today's losses, (the GDX was down about 2% today) but not counting today, we were up 20% in the month of June. So, still, a very big rise.   But really not nearly as big a rise as it should be, considering, I think, the significance of this gold breakout.  Except, of course, if people don't believe it.  If they're cautious about it, so they're reluctant to bid up the price of gold stocks. Investors Still Reluctant on Gold and Silver - Why? The same thing with silver. In fact, silver never had much of a rally today, and it actually settled down, I think 8 cents on the day, even though gold ended up finishing up $4 - well off the highs. But it didn't close negative. At one point during New York trading, the price of gold was negative on the day, but it managed to bounce back for the close. Silver, I think, ended at 15.33.  The gold/silver ratio that I spoke about on the last podcast now, I think is close to 93:1.  Again, I think investors are reluctant to buy up silver because they are expecting the price of gold to roll over.  Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Recorded June 21, 2019 See Peter at the Las Vegas Freedom Fest - July 17-20 https://www.freedomfest.com/ Save $50 using code SCHIFF S&P Record High: Why? U.S. stock market averages finished an up week on a down note. In fact, the S&P 500, before closing negative on the day made a new all-time record high. The S&P is the only major index that did make a new record high this week, in fact Donald Trump tweeted about the record high in the S&P twice yesterday.  As soon as the market gapped open at a record high, Donald Trump tweeted out a reminder that the S&P opened at a record high, and then when it closed at a record high, he sent out a second tweet to remind everybody that the stock market closed at a record high. Fed's Lower Rates Behind Stock Market Highs The idea is that he's taking credit for it.  The stock market is doing so well because Donald Trump is President, and if anybody else were President, the market would be collapsing. That's the impression that Donald Trump is trying to convey. But, of course, the reality is the opposite. The reason the market made a new high is because investors are relieved that the Fed is going to cut interest rates. So, it's lower interest rates that is behind the record high in the S&P - not anything Donald Trump has done. Low Interest Rates Needed to Bail out Economy Now, Donald Trump is saying, "Hey I've been telling the Fed to cut rates!".  So maybe he can claim credit for the fact that the Fed is cutting rates because he beat them up so much, but that's really not what he is trying to claim. He's trying to claim that the rising stock market is indicative of how great the economy is under his presidency. But, it's not because the economy is great that the Fed is cutting rates, it's because it's lousy! Heading for Recession The Fed is cutting rates because the economy is headed for recession.  So if that's the only reason the stock market is going up, that the economy is so bad that the Federal Reserve has to abort their rate-tightening campaign, and they have to come to an emergency rescue mission, they have to try to bail out the economy with rate cuts, is that really something that Donald Trump should be bragging about?Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Visit me at the Benzinga Trading Conference, NYC tomorrow Fed Tweaking Language to Officially Adopt Easing Bias Keeping with its tradition of having a tendency to act incrementally, the Federal Reserve Open Market Committee today announced that it was leaving interest rates unchanged - which was the consensus. There was an 80% probability that the Fed would leave interest rates unchanged.  The other 20% was that they would cut rates. So there was a zero percent probability that the Fed would increase rates.  But before delivering an official rate cut, what the Fed wanted to do was to prepare the markets in advance and take one step in that direction, which was to tweak its language to officially adopt a bias toward easing, which is exactly what the Fed did. Fed to Sustain "Expansion" The Fed basically acknowledged that the economic data had been weakening and that they wanted to do what was appropriate, or that they were willing to do what was appropriate to sustain the expansion. Now, they didn't come right out and say that the economy is headed for a recession; even though that is exactly what is happening. They said they wanted to see more data before they moved. But after they failed to cut rates, the probability for a rate cut in July, which is the very next time the Fed meets, rose to 100%.  So they took the 20% probability for the cut in June, since we didn't get it, the markets added that to the 80% probability of a cut in July. Looking Toward Negative Data Which means the markets are convinced that whatever data the Fed sees between now and the July meeting in going to be bad. It's not going to be good (positive) data. Of course, it IS going to be bad data. The data has been bad.  The economy has been weakening. We've been seeing a series of weakening economic data.  The economy is not just slowing down, it is headed to a recession. That is something that the Fed will never admit.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Recorded June 14, 2019 Gold: Up Today When I recorded my podcast last Friday, I speculated that the price of gold might gap up the following Monday above $1350/oz., but that didn't happen because over the weekend Donald Trump managed to tweet out a face-saving way in which to not impose the tariffs on Mexican products that may have gone into effect on Monday.  The markets breathed a sigh of relief. So, instead of gapping up. the price of gold went the opposite direction and gapped down. Fourteen Month High This morning, we got the gap. It was on the last day of the week, not the first day of the week, but gold gapped higher on the day.  It was actually trading as high as $1356 or $1357 earlier this morning. That was a 52-week high in the price of gold.  In fact, it was a 14-month high.  We were actually up even before we got any economic data.  I think the high of the day might have been before the U.S stock market opened, when we were up about $15 or so. The Key is Above $1350 What happened was, at 8:30, prior to the opening of the U.S. market, we got some economic data that was a bit stronger than expected.  And that stronger than expected data rained on the gold rally parade, sending the price of gold down on the day. It only closed down about a buck or so, but we did not hold above $1350.  Now the key level is not really $1350 - it's a little bit higher up, because the price of gold has been above $1350 twice before, I think, in the last six years, not counting today. But it wasn't able to hold. That's the key. We need to see the price of gold get higher.  Maybe close above $1375. Gold the Favorite Trade for the Next 12-24 Months There's a lot of noise.  That's where all the resistance has been coming in - between $1350 and $1375. But nonetheless, I think, as I said in the last podcast, the more times we knock on this resistance door the more likely it is that the door is going to open. In fact, the buyers continue to come in to the price of gold. I was listening to an interview with Paul Tudor Jones.  He was asked what his favorite trade was for the next 12-24 months, and his answer was gold. And a lot of smart people are now coming out and saying that, "Yeah, gold's going higher.  Gold's got everything going for it, and they want to be involved.  And of course I think if the price of gold does what I think it is going to do, and what some other smart people think it's going to do, well then the price of gold stocks are going to do even better.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Recorded June 10, 2019 Tariffs Off, Gold Gapped Down On Friday's podcast, I speculated that potentially we could see a gap up in the price of gold, gapping above the $1350 resistance level that has capped every gold rally for the past 6 years.  But gold actually gapped in the other direction.  It gapped down about $13 and it was down all day - never filled that gap. Catalyst for Sell-off The catalyst for the gold sell-off was Donald Trump calling off the tariffs that were supposed to go into effect today.  The five percent across the board tariffs on Mexico.  That announcement came out on Friday, pretty much right after I finished recording my podcast, we got the news.  So I immediately knew that that forecast probably was not going to come to fruition, or that speculation, potentially. Because I knew the markets would react positively to this news. After all, everybody was rightly worried about the negative impacts that those tariffs would have on the U.S. economy, in particular.  They weren't as worried about Mexico, at least when it comes to the gold market, but they were worried about how it would impact the U.S. economy. One Less Thing for the Fed to Worry About And of course, one of the reasons (of course there are many) that the Fed is talking about cutting rates is because of all the uncertainty that is being created because of tariffs. If there aren't going to be as many tariffs, if the Mexico tariffs aren't going to actually happen, well then that's one less thing to worry about, and maybe that's one less reason for the Fed to cut rates. Mexican Tariffs are a Sideshow Of course, cutting rates is part of the reason that people have been buying gold; the reason we had that big 8-day rally, which came to an end today. What's been powering the gold rally is the talk of Fed rate cuts. Now I don't think today's sell-off is going to be significant.  It's just one more time we knocked on that resistance door and it didn't open, but it is ultimately going to open. Because at the end of the day, the Mexican tariffs are a sideshow. The main event is that the U.S economy is going into recession anyway, and the rate cuts are coming.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Recorded June 7, 2019 Dow Finished the Week with a 4.7% Gain The Dow Jones soared 263 points today, although at one point the index was up better than 350 points. But it managed to finish the week with a 4.7% gain. That is the best showing for the Dow Jones Industrials in 6 months and in fact we snapped a six-week losing streak this week.  All of the major averages had positive weeks.  The NASDAQ -  the best gainer on the day; up 1.7% - not quite as strong on the week because it took a shellacking on Monday with the FANG stocks leading the way down - but up about 3.7% on the week.  Similar gains for the Russell 2000, the Dow Transports, the S&P 500 not quite as strong as the Dow - I think up about 4.2% on the week. What was the Catalyst? But why? What was the catalyst for this big move up in the U.S. stock market? Was it better than expected earnings? Not really.  Some companies beat estimates. Take a look at some of these recent IPO's like Zoom Video. Zoom Video was up 18% today because it earned 3 cents a share instead of the one cent that Wall Street was expecting. Now, 3 cents per share is not a lot of earnings when you're a $94 stock, but that's where the stock is. Beyond Meat to Infinity and Beyond Even more ridiculous is Beyond Meat, which is beyond sanity as it's going to infinity and beyond. Now, Beyond Meat was up almost 40% today, $138.65.  The high was $149.46.  This stock is already more than tripled its IPO price - or quadrupled, I can't really tell.  Now they're still not making money at Beyond Meat, so they still haven't moved beyond losses.  The company lost $6.6 million on the quarter; that's 95 cents per share. But it is an improvement, because a year ago, in the same period, they lost 98 cents a share. If you adjust it, if you back out a lot of other stuff, like stock-based compensation and things that nobody likes to count, then they only lost 14 cents per share, which was better than the 15 cents a share loss that Wall Street was expecting.  So clearly that's worth an extra 40% on the price of the stock.  I forget what this thing is trading; 100+ times revenue.  It is a crazy multiple, but at least the stock has a viable product.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Recorded June 5, 2019 Volatility Led by NASDAQ There's been a lot of volatility in the stock market since I recorded my last podcast on Friday.  In fact, on Monday, the tech stocks in particular got beaten up.  The NASDAQ dropped by better than 150 points, led lower by the so-called FANG stocks (Facebook, Amazon, Netflix, Google).  Google and Facebook, the biggest drop - I think it was something like 6-8%.  Part of that had to do with the Justice Department investigating Google. Enlisting the Power of Government in the Marketplace Of course, I don't think that we should be involved at all in anti-trust.  Almost all of the companies that have been broken up or that had been put through the ringer by the U.S. government achieved whatever type of market dominance they had based on just being good competitors, delivering the best quality at the lowest price. And government just came in and really what they were doing was advocating for competitors that were having a problem competing.  It wasn't because the consumer was getting ripped off; in general the consumer was being rewarded with low prices and high quality.  But companies that couldn't compete, since they couldn't win in the marketplace, enlisted the power of government to work for them.  So government, really is not about preventing monopolies - they create monopolies. The government comes into a market and legally gives a company a monopoly and uses the power of government to make sure that nobody competes. This is all a bunch of nonsense that we need government to "keep the markets free". Moving Away from Risk But, in general, if you look at what was happening to the markets on Monday, there was a huge movement from growth stocks, momentum stocks, speculative stocks, riskier stocks, to defensive stocks - value oriented stocks. The Dow Jones was actually positive on the day - it wasn't up a lot, but it was up, even though you had a 150 point drop in the NASDAQ. I think that is an important key, because this is something that needs to happen and it is long overdue, that investors start to get more defensive in anticipation of a weakening economy. Dividend-Paying Stocks More Attractive You have all of these high-multiple stocks, their P/E's are going to have to come down to earth.  And, of course, people are looking at a slowing economy, they are looking at lower interest rates - they believe they are going to get lower interest rates, so it makes sense that dividend-paying stocks would be more attractive in a falling-rate environment.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Sell in May and Go Away U.S. stocks closed out the week and the month of May with heavy losses; the DJIA down 354.84 points.  Pretty much going out near the low of the day. That's a drop of 1.4%. NASDAQ also getting killed - 114.57 down - that was a 1.5% decline on the day.  The Russell 2000 continues to melt down.  That index falling 20 points - down 1.35% on the day.  But the biggest losses continue to be in the Dow Jones Transports. That index was down almost 2% - 1.9% - 188.4 points.  This is the worst May for U.S stocks since 2010. The Dow is down about 7% just in the month of May. Remember, "Sell in May and go away"?   Well it hasn't worked in a while, but this was a great time to sell May first! Russell 2000 and Dow Transports Weakest Indexes Again, I told everybody that I thought the bear market rally was over based on the Fed not being as dovish as the markets expected, and it's been down hill from there.  If you look at the Russell 2000 and the Transports, these two indexes did not make new highs. Remember the Dow and the S&P, the NASDAQ made new highs. Now, they're all down considerably - the Dow is 8% off those highs now. But the Russell 2000 and the Dow Transports did not make new highs, and now they are the weakest index and now the Russell 2000 is down just under 16% from its peak, and the Transports - over 16%.  So both of those indexes are about 4% points away from being officially back in bear market territory, which means 20% from the highs.  We could easily be there next week,  on these stocks. Debacle du Jour: Gap Now the other indexes have further to go, I mean the NASDAQ is only down about 9% from its peak.  So 1% away from what Wall Street would officially call a "correction".  The retailers continue to also be hammered.  The Debacle du Jour was Gap, which gapped down by about 15% on the day on weaker than expected sales. The stock managed to rally most of the day, so it only closed down a little over 9%.  But still, it closed better than 47% below its 52-week high. Domestically Focused Stocks Weakest But, when you have the Russell 2000 and the Transports the weakest part of the market, those are the most domestically focused stocks. Those are the stocks that are the weakest.  So everybody who keeps talking about how great the U.S. economy is, if they look at the market, the market is telling you a different story.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Recorded May 29, 2019 The End of the Bear Market Rally Back on May 1, when I did my podcast, I officially called for the end of the bear market rally that so many people had confused for a new bull market, and the impetus for that call was the Fed coming out and not living up to Wall Street's expectations for just how dovish the Fed was. Remember, the market was starting to factor in rate cuts, not just an end to the tightening cycle, but the beginning of the next easing cycle. And Jerome Powell basically threw cold water on that by talking about how low inflation was transitory, and how he expected it to go back up, and all of a sudden the markets were starting to think that the Fed wasn't going to cut rates and the market went down a bit. The Fed Giveth and the Fed Taketh Away I thought that given that the rally was built based on the Fed, that what the Fed giveth by being more dovish than the markets expected the Fed had finally taken away by being more hawkish. Even though I didn't believe that the Fed was as hawkish as the markets believed, I believe the Fed is far more dovish than the markets believe.  But once Powell dashed those hopes, that was enough, I thought, to take the wind out of the sail of the rally. Throwing Down the Gauntlet on Trade And then, of course, Donald Trump, himself, pulled the rug out from under the market when, the following weekend, he basically threw down the gauntlet on the trade war; tweeted out that he was going to be imposing 25% tariffs across the board on Americans who want to buy any Chinese products.  And then the markets really started to fall. Although, I said at the time, that if the markets really perceived how great the threat was, they would have been down quite a bit more. But we now have two back-to-back better than 200-point declines in the Dow.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Recorded May 22, 2019 Low Inflation is Transitory Today we got the release of the most recent minutes of the Federal Open Market Committee, and I guess it was a bit of a mixed bag for people who were looking for whether the Fed was going to be more hawkish or more dovish with respect to its next move on interest rates.  One thing that was revealed in the minutes that the governors still maintain, they are still saying that they feel that this "low inflation" that we've been experiencing is transitory.  What that means is that it's temporary and the low inflation is going to go back up toward their 2% target.  This is supposedly a hawkish statement, because if the Fed were worried that low inflation was going to persist, then they would do something about it to save us from the horrors of not having the cost of living rise at a fast enough clip. When It Comes to Inflation Fighting the Fed Is All Bark and No Bite But, as far as I'm concerned, none of this even matters, because a) they are right, inflation is transitory, and b) it's not even as low as they think because the CPI is not accurate. So inflation is already higher than what the official numbers reveal. But even if it is transitory, which it is, and even if the numbers go north of 2%, which they will, the Fed is going to do nothing.  People still don't get it, that when it comes to inflation fighting the Fed is all bark and no bite. "For Some Time" Means Forever But then if you look at what the Fed said in the same minutes with regard to their "patience" with respect to the next rate hike, remember, the Fed went from pretty much auto pilot - they were raising rates, they were tightening - to being "patient", and being "appropriate", and now, if you read what they said, they said that it is going to be appropriate to remain patient "for some time".  Now what does that mean - "for some time"? Basically, it means forever. What the Fed is basically saying by saying that it is appropriate to be patient for some time, meaning, "you don't have to worry about any rate hikes".Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Don't miss the movie, "The Housing Bubble" premiering June 26, 2019 Back in Puerto Rico I am finally back in Puerto Rico, after having spent 8 long days in Las Vegas for both the SALT conference and The Las Vegas Money Show.  I really do enjoy coming back to Puerto Rico, I miss it quite a bit while I'm away.  A lot of people who are thinking about making the move to Puerto Rico to take advantage of the tax benefits that exist here… One of the reasons that people are reluctant to come down here is that they don't want to uproot their family and move to a place where they really don't know anybody, they leave their friends, they leave their family members… I'll tell you, for me, personally, probably the best thing about being here, other than the tax breaks and the beautiful weather are the people that you meet when you come down here.  It is an incredible group of people that have moved here.  I think we're building a great community of quasi-ex-pats here in Puerto Rico.  So, if you're worried about not having enough friends and not having enough to do, that's the least of your worries. So I certainly would recommend that more people would consider making the move to Puerto Rico. Visit Me at the Freedom Fest in Las Vegas July 17-20 But I am also looking forward to going back up to Connecticut, I'm going to be spending most of the summer there.  We'll be leaving the weekend of Memorial Day. By the way, if you didn't have an opportunity to come to any of the events in Vegas, I will be back in Vegas again in mid-July for the Freedom Fest. Appearing at the Premiere of "The Housing Bubble" I will also be in New York City on June 26 to attend the premier of the movie, "The Housing Bubble" on June 26.  You can buy tickets at the website letusdisagree.com. The movie is a documentary about the 2008 housing bubble, but it features a lot of people who were predicting or warning about the bubble before it popped, and warning about the financial crisis.  Of course, I am one of those people who was issuing those warnings, but I'm not the only one.  It's a very good documentary; I'll be there.  I think there's going to be a Q&A period with me and some of the other people who were featured in the movie at the event. So it would be great, if you're in the New York area this summer, June 26, go on letusdisagree.com and buy yourself some tickets.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

VISIT PETER AT THE LAS VEGAS MONEY SHOW May 13 – 15, 2019 https://conferences.moneyshow.com/…/4532d84bf…/peter-schiff/ As Noted on My Last Podcast… As I suspected on Friday's podcast, the 400-point reversal that saw the Dow move from down 300 points + to up 100 points on the close was in fact, reversed today, and the Dow Jones actually closed below the Friday low, which is a huge negative, technically for the index.  The Dow was down 617 points; that's about 2.4 %.  But the real carnage was in the NASDAQ.  That was down 3.4%.  The Russell 2000 also down better than 3% - 3.2%, showing that domestically focused stocks are actually getting hit harder than the multi-nationals. Lyft and Uber Still Sinking More trouble again for the recent IPO's, in particular, the ride-hailing companies Lyft  - down again, another 5.8% off the lows of the day - the lowest $47.17, closed at $48.15.  The Uber disaster continues.  Uber was down almost 11% today.  At one point, it was down 12% - the low was $36.08.  We closed at 37.10. Remember we came public Friday. This is only the second trading day.  Uber came public at $45, and now it is at $37.10, and as I said again on last week's podcast, these types of stocks are going to get particularly hit hard if the market carnage continues, which I think it will. China: No Deal I think the bear market rally is over - I've been saying that, "Long live the bear market". The Bear market rally is dead.  We are going a lot lower.  The catalyst today was also something that I was pointing out on my podcast last week, and that was the fact that we are not going to get a deal with China. I've been saying for a long time, that even if we got a deal, it would be, "buy the rumor, sell the fact". But I also said that it was becoming obvious that Trump had so over-promised the "great deal" that it was almost impossible to have a deal without disappointing the markets. So, I think Trump made a calculated decision that no deal is better than a deal that disappoints, especially since he had already goosed the market up to new highs.  So even if we sold off, Trump could say, "Well, this is some short-term pain; it's necessary for the long-term gain." and it may, in fact be the catalyst that causes the Fed to cut interest rates and launch QE, which is what Trump wants.  Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

VISIT PETER AT THE LAS VEGAS MONEY SHOW May 13 – 15, 2019 https://conferences.moneyshow.com/moneyshow-las-vegas/speakers/4532d84bf93311d3a5dd00104b96e7b5/peter-schiff/ Recorded May 10, 2018 Why Escalate Trade War If Negotiations Are Going so Great? The U.S. stock markets finished off the worst week of the year with a gain despite the fact that, as expected, the trade talks between the United States and China broke down today, and no deal.  The new tariffs went into effect at 12:01am this morning.  Despite the fact that Trump is now retaliating by escalating the trade war, he still claims that the discussions are going well, that they are making a lot of progress.  None of that makes any sense. If things are going well, and you're making progress, you don't escalate the war. That makes no sense. All that is going to do is piss off the Chinese. So, if everything is going so well, you would not want to do that. Maybe Trump Would Rather Have the Tariffs This shows that things are breaking down, that there is some desperation and Trump feels he has to turn up the pressure in order to try to force the Chinese into a deal.  Although, I am not even sure Trump believes a deal is actually better than the tariffs.  First of all, I don't believe that Trump is going to be able to deliver the type of substantive, game-changing great deal that he has been promising. So, from that perspective, if Trump actually believes that tariffs are good for the U.S. economy because it means we're going to get some kind of windfall, that the Chinese are going to be sending us all this money, well then maybe he prefers the tariffs to a deal that does not live up to the hype. Tariffs Are Simply Another Tax on the American People But, of course, Trump is wrong if that's what he believes. The tariffs simply represent taxes on the American consumer.  They are just one type of tax.  You can have a sales tax, you can have an income tax, you can have a tariff.  All the taxes are paid by American people.  It doesn't matter what you call them or how you want to levy them, that's where the money is coming from. So, if you think lower taxes are good, then you can't think tariffs are good. Unless you're going to offset the tariffs by cutting taxes someplace else and say, "We're going to fund government through tariffs as opposed to funding government through another source. But the tariffs in and of themselves do not deliver a benefit to Americans.  They simply make products that are subject to the tariffs more expensive to buy.  So Americans have a choice: pay the higher price or don't buy the product.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

See Peter at the SALT Conference at the Bellagio, Las Vegas May 7-10, 2019 https://www.salt.org/bio-schiff-peter Market Volatility I just arrived in Las Vegas, where I will be spending the next 8 days - I actually have 2 conferences heres; I have the SALT Conference (SkyBridge Alternative Asset Conference) that really kicks off tomorrow, though there is a welcome reception tonight, and then I do the Las Vegas Money Show, which kicks off on Monday.  So I'm here for quite some time.  I haven't even unpacked my bags, though.  I wanted to record a short podcast to comment mainly on the market volatility. Buyers Bought Dip on Monday The stock market was way down on Monday morning.  Of course,  the selloff started in the futures market on Sunday night, where the Dow futures was down over 500 points at one time. But by the time we opened, the Dow was only off about 450 and the dip buyers came in, and they bought the market all day, and we closed near the highs.  It couldn't close positive - I think the Dow was only off about 70 points.  So the buyers came in as they are trained to do.  They bought the dip. Trump's Tariff Tweets What caused the initial selloff was a pair of tweets; the two tweets were related. A lot of times, when Donald Trump sends out a tweet, he has a lot of stuff in there. or he will send out 2 tweets to make the same message. And, what happened is he basically said that he was going to impose more tariffs on China. He tweeted that, by this Friday, he is going to "up" the 10% tariffs to 25%.  So Americans who are now being taxed 10% for buying some Chinese goods, if they buy those Chinese goods starting on Friday, they will have to pay a 25% tariff on those goods. New Additional 25% Tariffs He also tweeted that he was going to apply the 25% tariff to goods that right now aren't paying any tariffs. So there are still a lot of Chinese goods that Americans could buy without being subject to tariffs, but now Trump is saying that now that is going to go away. At the end of this week, he's going to hit those goods.  So Americans buying pretty much any Chinese products are going to have to pay a 25% tariff. Additional Tax on American Consumers Now, of course, Donald Trump thinks these tariffs are great, because he believes the Chinese pay them, which, of course, is not true.  The tariffs are added on here in the United States, so it is the American consumers who pay those tariffs. Now, it can hurt China because if the higher prices cause fewer Americans to buy Chinese goods because they don't want to pay the higher price, then China doesn't sell its goods in America.  Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Recorded May 3, 2019 See Peter at the SALT Conference at the Bellagio, Las Vegas May 7-10, 2019 https://www.salt.org/bio-schiff-peter Jobs Surge in April, Unemployment Rate Falls Today is Jobs Friday; the first Friday of the month, that we get the nonfarm payroll number.  I don't know if the markets anticipated more or Donald Trump, because of course he's ready to send out a tweet when we get a better than expected number.  That's what happened today; we got another number that was better than expected.  Certainly the headline number - they were looking for an increase of 180,00 jobs, which would have been a bit of a reduction over last month's 196,000 jobs - which was revised down slightly to 189,000. We ended up getting 263,000 jobs, so another number with a 2-handle - a much bigger number than had been anticipated, and the unemployment number, also surprisingly dropped. Two tenths, from 3.8% to 3.6%.  Hispanic unemployment actually hit an all-time record low. I expected Donald Trump to tweet about that, because obviously he's being accused of being a racist.  Clearly, if he can show that, "Well, look, Hispanic unemployment is at an all-time record low, how are my policies racist, if we have a record low in unemployment among Hispanics?" He did tweet about the jobs numbers and the low unemployment numbers. Which Numbers are Fraudulent Now? But again, I reminded Trump (not that he actually ever reads my tweets, he gets so many) that when he brags about how low the unemployment rate is, the official rate, I always remind him, "Wait a minute, you are the person who accused these numbers of being fraudulent, fakes, phonies, a scam - Donald Trump as a candidate was very critical of Barack Obama's phony recovery mainly because Obama was hiding behind (what Trump said were) fraudulent statistics. Well, these are the same statistics that Donald Trump is embracing - the same statistics that he criticized.  So, I guess the President no longer about all of the discouraged workers who are no longer looking for work, he doesn't care about all the people who are working part time, but would prefer to work full time, but they can't find a full time job, so they settle for a part time jobs.  These are the people who are not included in that 3.6% unemployment rate.  The President cared about those people when he was a candidate.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Recorded May 1, 2019 VISIT PETER AT THE LAS VEGAS MONEY SHOW May 13 - 15, 2019 https://conferences.moneyshow.com/moneyshow-las-vegas/speakers/4532d84bf93311d3a5dd00104b96e7b5/peter-schiff/ Market Looking for Validation of Expectations Today was the conclusion of the FOMC meeting in which the Federal Reserve left interest rates unchanged, and that is exactly what the market was expecting.  Nobody expected the Fed to hike, and nobody expected the Fed to cut. But apparently, a lot of people expected the Fed to be more dovish with respect to its outlook for a potential future rate cut. Remember, the Fed Fund futures are showing that the next move is likely to be a cut and that maybe the Fed will cut by 50 basis points by the end of the year, so the markets are probably looking for some reassurance from the Fed that the market's expectations of lower interest rates are valid, and that's not what they got today from Chairman Powell. Inflation Below 2%.  Who Cares? 'In fact, he was actually asked, point blank, by CNBC's Steve Liesman - it was one of the first questions asked, maybe it was the first - whether or not the Federal Reserve was going to do something about persistently low inflation, because, after all, the official inflation rate is slightly below their target. I mean, if the target is 2%, we're at 1.7%, 1.8%… Who cares?  But somehow this is an emergency, this is a disaster - we're not hitting our 2% target, even though we're pretty damn close.  But, is the Fed going to do something about it? And instead of saying, "Oh, yes, we're going to do something about it, we're going to cut rates to make sure that we have 2% inflation", what Powell said was, "Well, yes, we acknowledge that inflation is lower than we would like and its lower than our goal, but we're not worried, because we expect it to be transitory." In other words, we're not worried about inflation being too low, because we believe the inflation rate is going to rise, and so there's nothing to worry about. In fact, what Powell said was that the Fed will be patient, but as of right now, they can't see a reason why they should hike or they don't see a reason why they should cut. Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Recorded April 26, 2019 VISIT PETER AT THE LAS VEGAS MONEY SHOW May 13 - 15, 2019 https://conferences.moneyshow.com/moneyshow-las-vegas/speakers/4532d84bf93311d3a5dd00104b96e7b5/peter-schiff/ Q1 GDP Expected at 2.3% Today we finally got the first estimate for the U.S. GDP in the first quarter of 2019, and typically the first quarter of the year has been rather weak.  That has been the experience pretty much going back through the Barack Obama administration.  And the consensus was for a 2.3% rise in Q1 GDP, that would have been just a slight improvement over the 2.2% number that we got for the 4th quarter of 2018. Expectations Were Low If you remember, way back, a couple of months ago, everybody was really low. You had a lot of people who were looking for Q1 GDP to come out with a zero handle. But they had been ratcheting up those expectations now to a consensus of 2.3%.  A lot of it had to do with the fact that the trade deficits had come in a lot smaller than people thought. I think the reason for that is because the trade deficit really ramped up in the last couple of quarters, probably because businesses were trying to front-run the tariffs that were supposed to come in at the end of last year. That might have caused extra imports to try to get things in under the gun before they were subjected to the tariffs.  So because we pulled all that forward, imports weren't as much in the first quarter, so they did not subtract as much from the GDP. Inventories Continued to Build Also, the inventories continue to build, but most importantly, because they weren't selling. Goods weren't selling as much - inventories were building.  That ended up helping. We ended up getting a number that was much bigger than consensus.  We actually got 3.2% GDP growth for Q1. Delaying the Day of Reckoning Now, before you get all excited, "Aha, Peter, you were totally wrong on this, you were looking for a weak number…" - first of all, a lot of people were looking for a weak number.  It wasn't just me. But I do believe that we simply delayed the day of reckoning by a quarter.  I think this time, it's going to be the second quarter that will be a big disaster.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

VISIT PETER AT THE LAS VEGAS MONEY SHOW May 13 - 15, 2019 https://conferences.moneyshow.com/moneyshow-las-vegas/speakers/4532d84bf93311d3a5dd00104b96e7b5/peter-schiff/ Easter and Passover I hope everybody enjoyed their Easter holiday, in fact, today is Easter Monday, so many parts of the world are still celebrating, including here in Puerto Rico.  We are still in the holiday of Passover, so hopefully everybody who celebrates Passover, myself included, is still enjoying that holiday. In fact, this year, the first night of Passover coincided with Good Friday; a rare occasion that unites the two religions.  We generally end up celebrating both. Removal of Sanction Exemptions Drives Oil Prices Up The markets have been quiet around the holidays.  The big story today in the markets was the price of crude oil - up about $1.60/barrel.  We're now at $65.71 per barrel.  This is a new high for the year. Today, the catalyst was the Trump administration announcing that they would be withdrawing the exemptions that allow certain countries such as Japan, India, China - a number of countries currently buying oil from Ira. Now we're saying no more exemptions.  They're saying, if you buy oil from Iran, then you're going to get sanctioned.  Generally, what that means is the U.S. is going to shut you out of access to the dollar-based financial system - wiring and using the resources of the Fed.  Considering that most of the world still transacts internationally in U.S. dollars is a very very serious punishment that the U.S. is able to dole out to any nation that does not do its bidding. Effect on our Trading Partners? Now, of course, this angers our trading partners who do not like being dictated to by the United States, they do not like the United States being able to tell them who they can and cannot do business with, and to punish them if they do not do what the United States says. Of course, this is all a function of the U.S. dollar being the reserve currency, which certainly gives nations like China, or like Russia or any other nation an incentive to try to move away from the U.S. dollar as a reserve currency.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Recorded April 16, 2019 VISIT PETER AT THE LAS VEGAS MONEY SHOW May 13 - 15, 2019 https://conferences.moneyshow.com/moneyshow-las-vegas/speakers/4532d84bf93311d3a5dd00104b96e7b5/peter-schiff/ Tax Day Yesterday was April 15th - Tax Day, or as my father, Irwin Schiff used to say, "April Fool's Day". My father thought it was April Fool's Day because he believed that that was the day on which Americans basically voluntarily paid a tax that no law required them to pay and voluntarily filed a 1040 tax form that no law required them to file.  Of course, my father ultimately went to jail and died and jail because of those beliefs.  I have been paying my taxes, although now that I live in Puerto Rico it's not nearly as painful as it used to be when I lived in Connecticut. 16th Amendment A lot of people don't realize that April 15 was not always Tax Day; a little bit of trivia. When the income tax first passed, or reared its ugly head in 1913 - although that's not the first time we had an income tax.  We had an income tax during the civil war. The North imposed the tax and when the war ended, the income tax went away. It came back again, and it was declared unconstitutional, correctly, by the Supreme Court in the Pollock Decision.  Then they resurrected it with the 16th Amendment, and following the 16th Amendment in 1913, the original Tax Day was March 1. Income Tax Why is that? Because the income tax is a tax on your income for an entire year. So, we are now in 2019 and we're paying our income taxes for 2018.  But you don't know what your income is in 2018 until the year is over. You may have earned a lot of money early in the year - you could lose it all back on the last day of the year and end up with no income at all - end up with a loss.  So the idea was, if you're going to tax your income, then we have to wait until the end of the year, and then we have to give you some time to add up your income and figure out what you owe and then pay the tax.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Recorded April 10, 2019 VISIT PETER AT THE LAS VEGAS MONEY SHOW  May 13 - 15, 2019 Lyft Sinking I began yesterday's podcast by pointing out the weakness in shares of the recent IPO of Lyft.  In fact, I mentioned that Friday's close above the IPO price (the first time it closed above that price since the day of the IPO) the fact that it couldn't hold on to that rally, I thought that meant the stock looked even weaker, technically. And we got a big follow through today.  Lyft sank about 11%, it closed near the lows of the day, 60.12.  In fact, we did trade as low as 59.75 on the closing minutes of trading.  We're now down about 32% from the opening print, after it went IPO on that day.  We're 17-18% below the IPO price.  If you happen to get the IPO price and you still have the stock, you're almost in a bear market from that purchase price. Catalyst: Uber News The catalyst today was the news that it looks like the Uber IPO is going to happen sooner than everybody thought. Maybe they will be filing as early as this week, and the IPO is going to be bigger than people initially thought, as far as how much stock they're looking to unload on investors.  Although, they're taking the valuation down from maybe $90 to $100 billion.  I think initially they were talking $110-120 billion, and they're going to look to unload about 10% of the company - $10 billion. Now, you would think, "Wait a minute, if Lyft is doing so poorly, what is the rush to bring Uber to the market?  Doesn't it seem like a bad time?"  But if you think about it, I think what Wall Street is worried about, is if they wait even longer, the price of Lyft will sink even further.  So it's a mad dash to get this thing out there before it really hits the fan, because this is showtime for all of these unicorns.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

VERY IMPORTANT PODCAST! Please share with everyone you care about. Ray Dalio: Please start at 29:52 Extreme Inequality Is Not a Function of Capitalism I agree that wealth inequality is a problem, but it is a problem that is created by government - created by the Federal Reserve. I was warning years ago, when the Federal Reserve first launched Quantitative Easing, that this was going to happen! This policy would only benefit assets at the expense of the overall economy. I've been warning about this for years. The government is doing this, not the market. So, yes, I want the government to do something about wealth inequality by getting out of the way. I want Capitalism to do something about inequality.  Now, of course, there's always going to be inequality - that's part of capitalism. People are not going to be equal, because peoples' contributions are not equal. What is not normal right now is the extent of the disparity. That extreme inequality is not a function of Capitalism.  if we enjoyed Capitalism, there would be less inequality. We Need to Embrace and Re-Discover Capitalism Ray Dalio recently replied to a recent Tweet of mine, referring to his appearance on 60 Minutes, stating that if the only solution Ray Dalio has is to raise taxes on the rich, and to hope the government spends the money productively, then he has no solution.  So then he referred me to his article, which I read, word for word: Why and How Capitalism Needs to be Reformed, parts 1 and 2. Again, Capitalism does not need to be reformed. What needs to be reformed is Democracy. We need to embrace and re-discover Capitalism and what needs to be reformed is all of the Socialism that has been interjected into Capitalism. Government Makes It Difficult for Small Businesses to Hire Young People I told Ray Dalio that I would read his article and I read it and made some notes and I'm going to go over my thoughts now. Number one, right off the bat, Dalio talks about all the jobs he had by the time he was age 12. He came from humble beginnings, he wasn't born wealthy, he is a rags-to-riches story, an American Dream story. By the time his was 12, he made money delivering newspapers, mowing lawns, caddying, and he invested the money he earned in the stock market. The first thing that grabs my attention is, "how many 12-year-olds today have jobs?" Very few young people today have jobs. Why is that? one of the reasons is because the government has made it so difficult for small businesses to hire young people -  minimum wage laws, and workmen's comp, disability, unemployment make it difficult for young people to get jobs.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

VISIT PETER AT THE LAS VEGAS MONEY SHOW May 13 - 15, 2019 https://conferences.moneyshow.com/moneyshow-las-vegas/speakers/4532d84bf93311d3a5dd00104b96e7b5/peter-schiff/ Rebound Expected in Jobs Report Stock market in the U.S. continued to grind higher today, although I still believe that this is a bear market rally.  The Dow added a little better than 40 points; the NASDAQ up about 47, so a bigger percentage gain there.  The S&P was up about 13 points.  This was following the release of the March Nonfarm Payrolls numbers - aka the Jobs Report. There was a lot of hope that we would see a rebound in the month of March.  Remember, in February, they initially reported just 20,000 jobs created, which was well short of what had been expected.  It was probably something close to 200,o00 jobs.  And the consensus for March was for 170,000 jobs and we actually got 196,000 jobs. Pretty Weak Number That's the first look. So that is, what, 26,000 jobs better than had been expected.  The February number was revised upward, but just to 33,000, and I think I remember when this number first came out, that there were a lot of naysayers who were saying, "This is crazy, there is no way this is true, let's wait for the revisions".  Well, we've got a revision, and all we did is revise it up to 33,000. So it seems like the number was legitimate. We did have a rebound in the month of March, but 170,000 is not a lot of jobs, considering how few jobs were created in February.  In fact, if you average the two months, it's a pretty weak number. Weakness in Labor Force Participation Rate The official unemployment rate, that held steady at 3.8%, but the labor force participation rate, which I know a lot of people have been encouraged by, because they see that number notching higher, it dropped back down .o2, from 63.2% to 63%. So that's some weakness there.  Also, if you look at the manufacturing jobs, they were looking for a gain of 10,000 jobs.  Instead, we got a loss of 6,000 jobs.  They took the February gain, which was originally reported at 4,000, and we only gained 1,000. So the markets were looking for an improvement over the original estimate for February; instead, not only did we take February's number down, but instead of improving, we actually went in the other direction and lost manufacturing jobs. Average Hourly Earnings Posts Sharp Slowdown If you look at the average hourly earnings, they were looking for a gain of +.2 and we got half that of +.1, and that is a sharp slowdown from the gain the prior month, which was +.4, which was better than had been estimated at the time.  So now you average them out, and, again, we're not getting much in the way of earnings growth, although we are seeing a rise in the cost of living. Average Work Week Up The average work week was up; it ticked up from 34.4 hours to 34.5 hours. Nonetheless, most of the coverage of the jobs numbers was that is was a good report.  It was better than estimates, because they were looking for 170-whatever and they got 190-something, so it was better than estimates.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

VISIT PETER AT THE LAS VEGAS MONEY SHOW May 13 - 15, 2019 https://conferences.moneyshow.com/moneyshow-las-vegas/speakers/4532d84bf93311d3a5dd00104b96e7b5/peter-schiff/ Recorded April 2, 2019 February Durable Goods Order Declined Slightly Less Than Expected We had a quiet day in the U.S. stock market today.  Not much reaction from a slightly weaker than expected February Durable Goods Orders number that came out before the market opened.  They were looking for a weak number; the consensus was for a decline of 1.8% - we got a decline of slightly less than that: 1.6%. They revised the prior month down from +.4% to +.1%, so we declined less, but from a lower number. Overall, slightly weaker.  In fact, the Core Capital Goods number was also slightly weaker.  They were looking for a rise of .2%; instead, we had a drop of .1% - although they revised the prior month up from .8% to .9%.  Still a little weaker on the day. Lyft Hitting Lows But the market still seems to be oblivious to the weak data, in fact later in the day we did get the auto sales numbers that were disappointing, as well. A lot of bad news is being routinely overlooked by Wall Street.  Lyft, the company that went public on Friday: I discussed the lackluster performance of that IPO on Friday.  In fact, most of the commentary that I listened to or saw was positive.  They were describing the Lyft IPO as a big success… everything went great… the stock went up… But what concerned me about the stock was not how it went up, but how weakly it closed. It pretty much closed on the low of the day.  It had sold off pretty much all day, following the pop on the open. Lyft Sank into Bear Market on Day 2 The stock came public at $72 and it immediately traded as high as $88.6, but closed the first day of trading at $78.29. Still above the $72 opening, but anybody who bought the opening print was down.  Then it got clobbered on Monday and it fell again today.  It only closed down slightly.  It closed relatively near the highs of the day, but the low was $66.10.  That's 25% below the peak price on Friday. So that's a bear market.  In fact, officially Lyft sank into a bear market on its second day as a public company.  So that bear market got even worse today.  The stock is now better than 8% below its IPO price.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

VISIT PETER AT THE LAS VEGAS MONEY SHOW May 13 - 15, 2019 https://conferences.moneyshow.com/moneyshow-las-vegas/speakers/4532d84bf93311d3a5dd00104b96e7b5/peter-schiff/ A Gift from the Federal Reserve The Dow Jones closed out its best quarter since 1998 with a 211 point gain: 25,928.68 was the close.  The Dow, on the quarter up 10.3% - the broader averages doing even better.  The S&P 500 rose 12.3% on the quarter. The Russell 2000 - 13.8%, and the NASDAQ 15.6% gain on the quarter.  of course, the entire rally was a gift from the Federal Reserve. Had the Federal Reserve stayed on its course, indicating that more rate hikes were coming; 3 or 4 this year; had the Fed continued with its planned auto-pilot reduction in the size of its enormous balance sheet, the stock market would be considerably lower.  In fact, we probably would have added to the losses experienced in the 4th quarter of last year with additional losses this year. But the Fed, as I had been predicting for many years, reacted to the weakness in the stock market and the weakness in the economy by reversing course. Bigger Cuts Ahead then the Market is Currently Pricing In Now the Fed hasn't actually cut rates yet, although the markets are already anticipating rate cuts and not additional rate hikes. Where the markets got it wrong is that there will be much bigger cuts than what the market is currently pricing in.  I think the market is looking at maybe 25 or 50 basis points of cuts. In fact, we're going all the way back to zero. A reduction in interest rates of 25 basis points or 50 basis points would do absolutely nothing. Quackery: Substituting a Bubble for the Illusion of Economic Growth I think the Fed, again, is going to have to go all the way down to zero once it decides that's what it's going to do. But had the Fed not changed course, the markets and the economy would be quite a bit weaker. Although not weaker - more air would have come out of the bubble. That's all the Fed has been doing with its monetary policy is sustaining a bubble.  Allowing the bubble to get bigger and bigger, while preventing the underlying structural problems from being solved.  Even though those solutions involve some short-term pain, as a trade-off for long-term gain, it is a very healthy process that would be good for the economy in the long run.  But, instead, the Fed has interfered with the market's medicine and substituted its own quackery - substituting a bubble to create the illusion of economic growth as the economy is actually worsening.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

VISIT PETER AT THE LAS VEGAS MONEY SHOW May 13 – 15, 2019 https://conferences.moneyshow.com/moneyshow-las-vegas/speakers/4532d84bf93311d3a5dd00104b96e7b5/peter-schiff/ Recorded March 26, 2019 Feigned Attempt to Shrink the Balance Sheet I am finally back on land, having spent 9 days at sea, at the Investors Summit at Sea.  I've been doing this annually now, this is my 7th time doing that. I am now back, technically one calendar year older.  I want to catch up a little bit on what happened in the market later last week.  I did do that one podcast from the ship following the complete capitulation on the part of the Federal Reserve, basically calling off all of the rate hikes that anybody thought may have been coming for the remainder of the year.  Also calling off their feigned attempt to shrink the balance sheet - quantitative tightening.  The balance sheet will barely shrink between now and the end of the summer, when it will stop shrinking altogether; if they can even keep up the pretense for that long. Nobody Appreciates What the Fed Has Done If you remember, when I was forecasting that this was going to happen, at the very beginning, in fact even before the Fed began to shrink its balance sheet, before the Fed raised rates for the first time, I said that if they ever tried to normalize interest rates, if they ever tried to shrink the balance sheet, they would ultimately abort the process - that they would fail in their mission. They could not complete the journey. It would create a huge problem for the Fed, which up until this point, it hasn't happened yet. Nobody really appreciates what the Fed has done. There Will Be an Excuse A lot of the people in the investment community are still buying at face value what the Fed is saying. But remember, when I said the Fed was going to announce that it was going to stop the rate hikes or call off quantitative tightening, I said at the time, that they were going to come up with an excuse. That the Fed was not going to tell the markets the truth about why it had aborted this mission - it was just going to make up an excuse. The Fed had to pretend that they could actually do this - that they were going to normalize interest rates, that they were going to shrink their balance sheet but something prevented them from doing it.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

VISIT PETER AT THE LAS VEGAS MONEY SHOW May 13 - 15, 2019 https://conferences.moneyshow.com/moneyshow-las-vegas/speakers/4532d84bf93311d3a5dd00104b96e7b5/peter-schiff/ Recording Today's Podcast from Willemstad, Curaçao I am recording today's podcast from my cabin on a cruise ship, which is right now docked on the Dutch island of Curaçao, which is about 35 miles north of Venezuela.  I've never actually been to this island, even though I live in the Caribbean now, in Puerto Rico, there are still many places in the Caribbean that I have not visited. I really wish I'd come here sooner. I had no idea how beautiful this island was.  Not really the beaches, so much, although I'm sure they are equally spectacular. I didn't go to the beach.  I just spent the day walking around town. But it's probably the most charming Caribbean island I've been to, as far as the architecture and the way the town is laid out - how beautiful the streets are, and the buildings and how clean they are.  It really seems like a nice place to live. I think there is a permanent population of about 160,000 people. The Fed's Decision I want to spend my limited time on today's podcast talking about the Federal Reserve's decision today and the press conference.  I did get back on the boat in time to watch the press conference live, and I do want to limit today's podcast to that discussion. Before the Fed announced its decision on interest rates - nobody expected a rate hike, and we did not get a rate hike, but before the Fed announced today's decision, the markets were on the defensive.  Earlier in the day, Donald Trump had mentioned that he now thinks that the tariffs on Chinese imports, or on Americans who want to buy Chinese imports, may remain in effect for a much longer period of time; indicating that maybe this great trade deal is not as close as the President was letting on in the past. Unexpected Dovishness So the markets sold off. I think the Dow, maybe at the lows was down about 170-some odd points, not exactly sure, but then, when the Fed announced its decision not to hike, the market erased all of those losses, and I think at one point we were up close to triple digits. Nobody was expecting a hike; I think they were expecting the Fed to be dovish, but I don't think they were expecting the Fed to be this dovish.    Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Recorded March 13, 2019 VISIT PETER AT THE LAS VEGAS MONEY SHOW May 13 - 15, 2019 https://conferences.moneyshow.com/moneyshow-las-vegas/speakers/4532d84bf93311d3a5dd00104b96e7b5/peter-schiff/ Big Drop in Boeing: Opportunity to buy into Dip The Dow is continuing to rebound this week, up 148 points today - 25,702 was the close.  In fact, the Dow would be higher if it weren't for an about 11% decline in Boeing so far this week. I am going to talk on this podcast about the controversy surrounding Boeing and their 737 Max 8 aircraft.  But for now I want to talk just about the markets.  I actually think that it was the big gap down on Monday morning, where Boeing first reacted to the news of the plane crash in Ethiopia and the Dow was down better than 200 points - all of it the big drop in Boeing. I think traders looked at that news as an opportunity to buy into the dip.  I think you saw people rushing in at that point. That kind of marked a short term bottom in the market and now we're back up around the highs of this bear market correction. Smarter Money Selling into this Rally I do believe that we're going to be running into resistance again at this area - but that was probably an opportunity for some people, they saw that dip and they rushed in and they bought other stocks.  Typically there's some kind of news event that would coincide with some type of inflection point in the market.  I don't think it's a significant low; I just think it is a low in an ongoing process, this bear market rally, this correction in the bear market is not ending quickly, but I do believe it is ending. I think the smarter money is selling into this rally. Retail Sales: December was not a Fluke The economic news - a couple of items that came out this week were a little better than estimated.  But look at the Retail Sales number that came out on Monday. That one, to me, still confirms that the numbers that we got in December were not a fluke.  A lot of people initially dismissed the weak number in December.  The initial report for December Retail Sales was -1.2. They were looking for a rebound in January and the got one. They were only looking for a rebound of .1 and they got a rebound of .2. They actually revised the prior month that was originally reported as down 1.2, that moved to down 1.6. So an even bigger decline December than was originally reported.  Remember, this is a 10-year low.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

RATE AND REVIEW this podcast on Facebook. https://www.facebook.com/PeterSchiff/reviews/ Market Down Before the Bell A late-day rally wasn't enough to bring the U.S. stock market indexes into the black on the day.  In fact, this is the first down week that the U.S. stock market has had in 2019. Something tells me it's certainly not going to be the last. The market was down from the bell this morning. Even before the bell, if you look at the futures, even before we got the jobs number - the February jobs report (which I will get into a little later in this podcast) the markets were already down.  The Dow Futures, I think were off about 125, 135, something like that. Normally, the markets are not making a big move in either direction before the jobs report comes out, because people don't know what the number is going to be, and generally it's a market-moving number, so the markets are typically pretty flat before we get the number. Trade Deal Up in the Air This time, the markets were down.  Based on rumors that the trade deal with China may be delayed.  People were talking about this Mar-a-Lago Summit that was going to take place later in the month, and now I was reading about how there may not be a deal in time, and the Chinese may not want to go to Mar-a-Lago, and so the whole thing is up in the air. So people were getting a little nervous about the trade deal. So that's why the markets were already selling off, plus, I think the Chinese markets had been weaker overnight. Trump or someone else Tweeted out that Trump had said, as soon as we signed the trade deal, the markets are really going to spike. Apparently, nobody has explained to Donald Trump how the stock market works. Buy the rumor sell the fact. Maybe the President has more experience in the real estate market, not understanding how the stock market generally anticipates news, and sells off on the realization of that news.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

RATE AND REVIEW this podcast on Facebook. https://www.facebook.com/PeterSchiff/reviews/ Wall of Overhead Resistance It looks like the correction in the U.S. stock market, and by correction I am referring to the rally, the first correction in what I believe is a new bear market - but it's looking like that correction may have finally run its course as the stock market has run into a wall of overhead resistance. In fact, the technical action on Monday was quite telling, because early in the morning we opened quite a bit higher - 100 points or so higher, and then had a 350-point reversal to the downside.  The catalyst for the initial rally was yet another rumor of an impending trade deal with China.  And it seems to me that we've basically run out of the ability to continue to rally the market by regurgitating the same news story over and over again. Now They've Sold the Last Rumor Remember I was saying that, when we actually have a trade deal, with China, my thinking would be it would be a "buy the rumor, sell the fact"?  Well the problem is, traders have already bought that rumor over and over again and that they may have already sold the last rumor. They can't wait for the fact.  They've just had so many rumors, that now they've sold the last rumor, and it doesn't even matter if we get a deal - the market is going to sell off.  Of course, if we get no deal at all, then the market could sell off even more, because a great deal has already been priced in to the market.  But there isn't going to be a great deal. There will be a deal, there will be nothing great about it; there will probably be nothing substantive about it. Expectations have been raised so high, which is another reason that I don't think Trump is as good a negotiator as he pretends.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

RATE AND REVIEW this podcast on Facebook. https://www.facebook.com/PeterSchiff/reviews/ Market Keeps Rallying on Regurgitated News The Dow Jones started off the final day of the week with a pretty strong rally; we were up a little better than 200 points earlier in the day.  Then we got some weaker than expected economic data which I will get to a bit later, and the market sold off.  The Dow never quite went negative, and then we rallied back and the Dow managed to end the week back above 26,000 with a 110 point gain. In fact all of the major indexes were positive on the day.  What caused the early morning rally was optimism, once again, that a trade deal with China is about to be signed, and it's kind of amazing how often the markets can bite on this and keep rallying on regurgitated news, because, we've heard this before. According to Trump the Chinese Are Going to Pay, but According to Economics, Americans Are Going to Pay As I have said on this podcast before, we are going to get a trade deal.  A trade deal with China is inevitable. The only positive about the trade deal is going to be that it takes the prospect of a self-inflicted wound off the table. That's the only good thing.  If we have a trade deal, then Trump is not going to increase tariffs on American businesses and on American consumers. That is the empty threat that is out there:  "Hey, we're going to force China to the negotiation table because, if they don't, we're going to erect these tariffs, which, according to Trump the Chinese are going to pay, but according to economics, Americans are going to pay. That's one of the reasons that we can't afford to actually use this weapon that we are threatening the Chinese with. Promising the Moon In fact, one of the reasons that you had all this optimism about this new deal was Larry Kudlow was out talking about how great the new deal is going to be - how this is going to be a huge win for America, it's a fantastic deal, it's a boon, it's better than we could have expected, it is all-encompassing... He has really raised expectations. Doesn't Kudlow know anything about the expectation game?  The idea is to under-promise so you can over-deliver. It seems like we're destined for failure here because everybody in the Trump administration is promising the moon.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

RATE AND REVIEW this podcast on Facebook. https://www.facebook.com/PeterSchiff/reviews/ Jerome Powell Wades into the Deficit Debate This year Fed chairman Jerome Powell made his obligatory visit to Capital Hill, where he spoke to Senators and Representatives about monetary policy.  Of course, this really just amounts to a press conference for Democrats and Republicans to either talk up the economy or talk down the economy, depending on who's got the White House.  Trump is the President, so you have a lot of Democrats trying to talk about why the economy is actually weak and trying to get the Fed Chairman to say something negative about the economy, or negative about President Trump.  And, of course you have the Republicans trying to get Powell to validate how great the economy is, and how Trump's policies are helping the economy. Republicans Aren't Willing to Recognize Problems The biggest problem with all this is that the biggest promoters of how great the economy is are the Republicans. These are supposedly the defenders of capitalism and they're saying everything is great, everything is booming, and you have the Democrats, particularly the Democratic Socialists saying that there are a lot of problems.  And the Republicans are saying that these problems don't exist. Democratic Socialists Have no Idea Why the Economy is Screwed Up Unfortunately, when it hits the fan, when we end up in a recession, and I've been making this point over and over again, Capitalism is going to be thoroughly discredited because the people who advocate it were oblivious to the problems. They said everything was fine. Now the Socialists will appear to be the ons who had it right - even though they were right for the wrong reasons. They have no idea why the economy is screwed up, and their plans to solve the problems will just screw it up even more. But the voters aren't going to know that. They're going to say, "Oh, these Republicans who talk about Capitalism, they were wrong. They didn't realize what a mess it was.  These Democratic Socialists, they knew there was a problem, so let's vote for them." Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

RATE AND REVIEW this podcast on Facebook. https://www.facebook.com/PeterSchiff/reviews/ Another "Greatest Deal Ever" 'The Dow rose a little over 180 points today, closing above 26,000 -26,031.81, to be exact, for the first time during this bear market rally.  I still believe that we are in a bear market rally, not a new bull market. the catalyst for today for today's stock market strength, and it was across the board; the markets were strong from the opening bell to the closing bell.  I think the high in the Dow was maybe just above 200; we sold off intra-day.  But the NASDAQ, the Russell 2000 were also higher on, again, optimism that there is going to be a trade deal between the U.S. and China.  Donald Trump is saying that he is negotiating the greatest deal ever, which is something that I have been saying, regardless of what the deal ends up being, Trump is going to say "It is the Greatest Deal Ever". What Helps China Is an Appreciating Yuan But there was a lot of attention being paid to the deal, a lot of stories coming out that were close to a deal.  In fact, I read that they do have a agreement on exchange rates.  Currencies, obviously the U.S. likes to accuse China of being a currency manipulator, and so maybe there's some type of deal that says they won't manipulate their currency - they won't use their currency as a weapon. Which is something China wasn't going to do, anyway. To the extent that we win any concessions from the Chinese, where they agree not to weaken their currency, that basically amounts to nothing. In fact, a weak currency is bad for China.  What helps China is an appreciating Yuan. Today's "Fedspeak" on Inflation More important than the talk about the trade deal was a lot of  "Fedspeak" today.  You had a lot of Fed officials that were talking; James Bullard, Clarida, John Williams - they were all talking.  The real common theme today was inflation. I have been talking about this for years.  How was the Federal Reserve going to basically respond to inflation above their 2% target? The real rate of inflation has probably been above 2%, in fact I'm confident that it's been above 2% every year.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

RATE AND REVIEW this podcast on Facebook. https://www.facebook.com/PeterSchiff/reviews/ FOMC Minutes Describe Abrupt About-Face This afternoon we got the minutes from the last Federal Open Market Committee meeting which took place a few weeks ago.  This was the meeting where the Federal Reserve did what is now being described as probably the biggest policy shift in the history of the Fed. This was really an abrupt about-face, where they went from "Everything is great; we're going to keep on raising interest rates, and we are on auto-pilot - we are going to let the balance sheet continue to decline."  All of a sudden, now they're "patient", meaning they're not going to raise rates at all in the foreseeable future, and not only is the balance sheet reduction program no longer on auto pilot, but it is now going to end prematurely sometime this year. Fed Balance Sheet North of $4 Trillion Of course, the balance sheet is still north of $4 trillion, and if the reduction program comes to an end this year, you're still going to be talking about a balance sheet $3.5 to $4 trillion in size.  This would mean that almost all of the mortgages and treasuries which the Federal Reserve purchased in the aftermath of the 2008 financial crisis as part of its Quantitative Easing Programs, 1,2&3.  Almost all of that debt will remain on its balance sheet after the Fed has finished shrinking it.  Also, FOMC officials are now talking about Quantitative Easing once again as just another tool in the Fed's tool box. It's no longer something that will pulled out for an emergency, it's just going to be a normal policy tool for the Fed to deal with recession.  Of course, that's going to be their main tool, given that this next recession is going to start when interest rates are at 2.25%. So there is not a lot of room for the Fed to try to artificially stimulate the economy when it hardly has any room to reduce rates. Quantitative Easing is Debt Monetization Of course, what does that mean about the Fed's balance sheet? That means the balance sheet will ultimately be much higher than it was when it began its current Operation Quantitative Tightening. We will be higher than we were before it started. All this does is confirm what I've been saying all along, that Quantitative Easing is Debt Monetization.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

RATE AND REVIEW this podcast on Facebook. https://www.facebook.com/PeterSchiff/reviews/ Market Rallies on Old News The U.S. stock market continues to rally on basically the exact same news story that keeps on getting replayed.  Today, it was the absence of another government shutdown.  I guess now, this is final when it comes to no more government shutdowns, although that should have been obvious to everybody when Trump caved the last time and decided to pay everybody and temporarily end the shutdown. I said on my podcast at that time that that was it; that there was no way that there was going to be another government shutdown - yet the market continues to celebrate when they think that the shutdown's not going to happen. A National Emergency for the Wall Well now they know for sure it's not going to happen.  Everything's signed, it's a done deal and Trump is getting his wall anyway because he has now declared a national emergency, and so now because it's a national emergency, we are now going to pull these funds from other parts of the budget and we are going to build the wall. The National Debt is the Real National Emergency Of course, the real national emergency is not the lack of a wall, the failure to build the wall, but building up the national debt. The $22 trillion national debt.  We eclipsed that dubious milestone earlier in the week.  And again, when you talk about the national debt at $22 trillion, we're talking about the tip of a huge iceberg. This is just the funded portion of the debt.  This is where the U.S. sells a bond and somebody owns that bond. The Tip of the Iceberg It doesn't include liabilities like what the government owes for Social Security, or guaranteed bank deposits, or mortgages or student loans - that's not there.  Those are contingent liabilities.  They're just as real. They're not even part of the national debt. So, when you look at all the liabilities that the U.S. government is on the hook for, you're talking about well over $100 trillion - so $20 trillion is maybe d5 or 10 percent of the debt. But that debt is the real national emergency.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

RATE AND REVIEW this podcast on Facebook. https://www.facebook.com/PeterSchiff/reviews/ The 7th Best Start Ever for the S&P 500 The Dow was up 372 points today, continuing the bear market rally.  In fact, this is the best start for a year in almost 30 years - 28 years to be exact. I think it is the 7th best start ever for the S&P 500.  Now I think the other 6 starts that were better; 3 of those happened during rather dubious circumstances. Two occurred during the Great Depression, and one of them happened in 1987, and we all know how that year ended up. So sometimes getting off to a good start doesn't necessarily mean that the year is going to finish strong, or the year, itself, is going to be a prosperous year. Again, I think the main reason that the market is so strong early this year is, A) because of the sharp decline we had at the end of last year and B) because the Federal Reserve came in to save the market precisely the way I had forecasted for many years. How Many Times Can the Market Rally on the Same Good News? We had a lot of news today that was supposedly good news which provided the extra catalyst for the market.  The question, of course, is, "How many times can the market rally on the same good news? One of the pieces of good news was the fact that it looks like maybe there is some kind of compromise on the border that will avert a second government shutdown, and that is supposedly good news. Of course, we've been having this type of good news over and over again. Also, on the trade front, there were some rumors that the negotiations were going well (some of these rumors started by Trump), so when the market hears that, and that they will probably extend the deadline.  If the negotiations were really going great, they wouldn't have to extend the deadline.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

RATE AND REVIEW this podcast on Facebook. https://www.facebook.com/PeterSchiff/reviews/ Disguising "Red" Goals in Green Wrapping I'm still here in my hotel room in Orlando at the Money Show, but before I went downstairs on this Saturday morning,  I wanted to record a podcast to address the issues raised by Alexandria Ocasio-Cortez, AOC, as she is now being referred to - I guess I'm just going to call her the bartender for simplicity.  Well, anyway, the bartender-turned-congresswoman has released the laughable details of her "Green New Deal".  Of course, the Green New Deal really lays bare the smokescreen that I have always believed existed with respect to extreme environmentalism.  I've always thought that it masked a real desire for socialism; that the real goal of some of these radical environmentalists was socialism: nationalizing the means of production, getting government control.  But they couldn't come out and say that. They had to disguise their "red" goals with green wrapping. This Bartender is Advocating Fascism They had to approach it as an environmental issue;"Hey, we have to save the planet!" and, yeah, who isn't in favor of that? Everybody wants clean air and clean water.  So the way the Socialists really try to wedge their way into the mainstream was with this veneer of Environmentalism.  But when you actually read the "Green New Deal", it blows all the smoke away. It really lays bare the Socialist agenda of environmentalists.  Really, that's what the Green New Deal is all about.  It's Red. It's all about turning America into a Socialist economy, or more particularly, a Fascist economy, because Fascism is really the form of Socialism that best describes what this bartender is advocating. The Government Taking over the Means of Production I have said from the beginning when Ocasio-Cortez ( the bartender) describes herself as a Democratic Socialist - "I'm not a real Socialist, I am a DEMOCRATIC Socialist - putting the word "Democratic before something bad doesn't make something bad into something good.  If you read this proposal, it is pure, unadulterated Socialism. It is about the government taking over the means of production.  The bartender actually believes that  the government, by micromanaging the economy, it will succeed in creating prosperity.  This is what every Socialist who has risen to power, rather by force or by vote, has promised the public. They always promise pie-in-the sky prosperity, all these great things that the government is going to provide. In order to get people to buy into this, they have to create a false threat of global warming.  Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

See Peter in person at the Orlando Money Show https://conferences.moneyshow.com/moneyshow-orlando/ Celebrate Peter's birthday with him on the 2019 Investor Summit at Sea! Visit schiffbirthday.com State of the Union Not Addressed Last night President Trump delivered what purported to be a State of the Union address but really, Donald Trump talked about a lot of things, but he didn't really speak at all about the State of the Union. Bernie Sanders recorded his own response. He didn't do the official Democratic response; that was done by Stacey Abrams, the woman who ran for and lost the Governorship of Georgia in 2018. She was a Democratic candidate.  I think the Democrats are grooming her probably to run for Senate in 2020 so they wanted to put her up on that stage and shine the spotlight on her. Bernie Did a Better Job of Laying out Economic Problems But Bernie Sanders delivered his own response on YouTube, and Bernie Sanders did a much better job of describing the problems in the U.S. economy, that Donald Trump ignored in his State of the Union address.  He spoke a little bit about the economy; he said we're having an "economic miracle" here in the Unites States, that we were the envy of the world, the hottest economy in the world.  Everything is great, and theoretically the only thing that could screw it up is if the Democrats keep going after him with this ridiculous investigation, but everything is doing great, which, of course is a bunch of nonsense. Socialism, However, Won't Work Bernie Sanders did a much better job of presenting the facts. He pointed out that maybe, if Donald Trump is talking about his rich friends at Mar-a-Lago Country Club - for those guys, the economy is great. But for average Americans, the economy is lousy and Sanders describes some of the problems that Donald Trump overlooked or ignored when he gave his address.  This is going to be the problem for the Republicans in 2020 when they run for re-election, talking about how great the economy is, they don't have a chance.  It's the Democrats who will be feeling the pain of the voters and coming up with their own solution.  The problem is, the solutions that Bernie Sanders is putting forth, Socialism, aren't going to work.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

See Peter in person at The MoneyShow Orlando https://conferences.moneyshow.com/moneyshow-orlando/ Stronger than Expected Jobs Number We actually got a bunch of economic data released today; apparently the shutdown no longer is affecting some of these newer releases, although we still have a bunch of old data that has yet to be released. I have a feeling that there is a lot of weak economic data that has yet to come out. Today we got some stronger than expected data including the January jobs number. They were looking for 158,000 jobs to be created, which would follow the 312,000 number that we got for December, which was a surprisingly strong number.  So the consensus was that we would have a weaker number in January; but we ended up with 304,000 jobs allegedly being created in January. December Jobs Number Revised Down 90,000 Jobs But they now tell us that we didn't create 312,000 jobs in December - we only created 222,000 jobs, which is still a pretty big number, but it's 90,000 less.  That's a huge revision, to think that they were off by 90,000 jobs.  Maybe they're off by 90,000 jobs in January. I guess we'll have to wait another month to find out.  But that number was much bigger than what was expected; and of course, even if you take into consideration the revisions, it was still a better net number than what the markets were looking for. U6 Went from 7.6% to 8.1% The official unemployment rate rose to 4%.  Part of that was because the Labor Force Participation Rate continued to notch up. It went from 63.1 to 63.2, and since more people are now looking for work, those people are now officially unemployed. But a bigger story than the official rate is the U6 rate, which is far more accurate if you want to get a real look at the U.S. labor market.  Of course, it's not 100% accurate because it only includes discouraged workers who have discouraged for under a year.  So it doesn't capture any of the long-term unemployed, which are a big part of the American labor market. But the U6 rate includes the short-term discouraged workers, but also the people who are working part time, but who really want to work full time. We had a surge, like half a million part-time jobs were added according to household survey during the month, so a lot of people working part time - they probably want to work full time, but they are settling for part time work.  That meant that the U6 number went from 7.6 to 8.1.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

See Peter in person at the The MoneyShow Orlando https://conferences.moneyshow.com/moneyshow-orlando/ Monetary Drug Pushers Earlier today, the monetary drug pushers at the Federal Reserve gave the addicts on Wall Street exactly the fix that they have been craving. In fact, not only did Powell deliver exactly what the doctor ordered with respect to interest rates, saying the Fed was going to remain "patient", probably indefinitely, with respect to another rate hike, but Powell also made it clear that the balance sheet wind-down, otherwise known as quantitative tightening, was off of auto-pilot.  In fact, based on what Powell said, I would be surprised to see any significant reductions in the Fed's balance sheet from here.  Not surprising, the market rallied as a result of getting what they wanted out of the Fed.  At one point, I think, the Dow was up better than 500 points, but it did close up 434 points - back above 25,000 - 25,014.86, to be precise. Quantitative Easing and a Return to Zero But, you know, just like any addict, they can never get enough. I think that soon the markets are going to be demanding a lot more from the Fed than just a cessation of rate hikes and a commitment not to shrink the balance sheet.  I think what the addicts are going to require is going to be more quantitative easing and a return to zero, and that is exactly what the Federal Reserve is going to provide, once it realizes that that's what's necessary. Of course, I don't think that is going to work; I think that is going to deliver the overdose that I have been warning about since the Fed first went down this mistaken policy road. I knew that we would ultimately end up exactly where we're headed.  It's just that the markets still haven't figured this out. Markets Need to Focus on the Why The markets really need to be focusing on the Why. Not just looking at what the Fed is doing, but why the Fed is doing it, and what it actually means about the underlying health of the U.S economy or the efficacy of prior Fed policy. Now if you listened to the press conference, or even just read the prepared remarks, the Federal Reserve wants to pretend that everything is still great - that the U.S. economy is still in great shape.  In fact, the Fed wants to pretend the U.S. economy is just a good as it was when it hiked rates during the September meeting, let alone the December meeting. Continued Rate Hikes and Auto Pilot QT Going back to September, when the Fed was saying that they were going to do maybe 3 or 4 rate hikes in 2019, and that the balance sheet unwind was on auto-pilot, that the Fed was going to set that aside and sell off about $50 billion worth of treasuries and mortgages every month, just forget about it, not even worry about it and that the Fed was going to simply focus on interest rates.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

RATE AND REVIEW this podcast on Facebook. https://www.facebook.com/PeterSchiff/reviews/ Downwardly Moving Expectations The record-breaking partial U.S. government shutdown looks like it has now come to an end. Donald Trump today announcing that he is going to be re-opening the government for three weeks, and during that time we will have negotiations regarding funding for the border wall, the barrier, the smart wall - whatever it is being called now.  Donald Trump seems to be downwardly moving his expectations of what that wall would constitute, how much terrain it would cover, but at the end of the day, I don't believe that whatever compromise we get 3 weeks from now is going to include any type of funding for the wall. Democrats Trying to Teach Trump a Lesson And I think that the President talking about potentially shutting the government down again in 3 weeks if the wall money is not there, I think that's an empty threat; I think that is a bluff that would be easily called by the Democrats.  If you look at the Democratic press conference that followed the Trump announcement, Chuck Schumer basically said,"I hope the President learned his lesson." I'm surprised he even said that because it is admission that the Democrats were trying to teach Trump a lesson. That is, in fact, probably what they did.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

RATE AND REVIEW this podcast on Facebook. https://www.facebook.com/PeterSchiff/reviews/ Broader Averages Up The Dow Jones rose 171 points today recovering a little better than half of yesterday's 300 point decline, helped by some better than expected earnings in both IBM and Proctor and Gamble. The broader averages is also up, but not nearly as much, because of the impact from those stocks; obviously not as strong. In fact, the NASDAQ, and even the S&P 500 all took out yesterday's lows intra-day, but still managed to eke out small gains - actually the Russell 2000 was down slightly on the day. Dow Transports Down All Day But the Dow Transports were down all day. They didn't even recover; they closed off the lows, adding about 48 points to yesterday's decline.  But everybody in the financial media, in fact everybody at Davos (I'm going to talk about that in a minute) but everybody seems to be completely forgetting the bear market.  Ignoring the fact that we went into a bear market and pretending that either we're back in a correction of the bull market or we've actually left correction territory, as if the bull market is still intact, and that bear market that we had never even really took place. I Wouldn't Bet on the Fact That the Bear Market Is Over Now, it is possible that the bear market is over.  I am not saying it's impossible.  It seems to me again that it is extremely unlikely that the longest bull market in history is going to be followed by the shortest bear market in history. I guess it could happen but I wouldn't want to bet on it. A lot of people seem to be betting on it. To me, again, the rally that we had made a lot of sense. After all, the Fed came in and did exactly what I have been saying it is going to do since before they raised rates for the first time.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

RATE AND REVIEW this podcast on Facebook. https://www.facebook.com/PeterSchiff/reviews/ High School Students Smeared by Mainstream Media I am still out in Vancouver, British Columbia at the Resource Conference.  I will be back in Puerto Rico on Wednesday. But I wanted to take a little time out to record this podcast here in my hotel room to address just one topic. And that has to do with this viral video that was making the rounds early yesterday that purported to show a group of high school students taunting an elderly Native American.  As soon as this thing went out, spreading throughout the internet, the conduct of the high school students was condemned by everybody. Fanning the Flames All the celebrities and the media, everybody on the left we out there condemning the actions of these kids. In fact even the school - they were from an all-boys Catholic high school.  Of course, there is nothing racist about the fact that the high school was all boys; there are all-girl Catholic high schools. The idea being that maybe you can educate kids better if they are concentrating on their studies, rather than members of the opposite sex. But even the school administrators or the principal came out and said they condemn the conduct of their students and they're going to look into this and that this does not reflect their values. Of course they're very tolerant, they're not racist, they don't discriminate. Maybe they will even expel these boys. Of course, that comment actually helped fuel the fire. This Whole Thing is Made Up I really wish that people would not be so quick to throw people under the bus when confronted by this feigned outrage from the left. This whole thing is just made up. If the government had been skewing this with would be called propaganda. But it is not the government; it is the media elites, it is the left that has concocted a fake story. They have altered the facts to conform to their agenda.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

RATE AND REVIEW this podcast on Facebook. https://www.facebook.com/PeterSchiff/reviews/ It Is Not a New Bull Market The U.S. stock market averages continued the bear market correction - the correction actually extended for another week.  We capped a strong week with a strong gain today across the board.  But this is a correction. It is not a new bull market. But of course, if you watch stations like CNBC you wouldn't know that. All day today all they kept talking about on CNBC was that the market is now out of correction territory, meaning that it is no longer down 10% from the highs, and so we're no longer in a correction. We Entered a Bear Market First of all, we didn't enter a correction - we entered a bear market. Now, bear markets have corrections, too. They're called rallies, except people at CNBC don't get that. They think the only correction is a move down in a bull market. Now this bull market went on for 10 years, so a lot of these guys don't remember the last bear market, and it wasn't even that long.  A lot of these bear markets have been very short. They decline 40-50% and then the Fed was able to come in and save the day.  But people don't get that we are in a bear market now.  We haven't made new highs, so any rally is a correction.  Certainly a rally of more than 10%  - that's the same definition for the downward correction in a bull market.  So if you want to apply that definition to an upward correction in a bear market - we are in a correction. This is a pretty big correction, helping the bear market fall a slope of hope. Russell 2000 Had  Best Annual Start Since 1987 The Dow was up around 330 points today, back up to 24,706.35.  In fact, if you look at the Dow Jones year to date, we're up almost 6% so far this year. Strong move.  We're not even finished with the month of January.  Of course we have a holiday weekend,  s the markets will not be open on Monday celebrating Martin Luther King Day. But there are still quite a few days left in January.  The NASDAQ composite is actually outdoing the Dow, it is now up almost 8% on the year and the biggest gainer is the Russell 2000.  It's up almost 10%.  In fact the Russell 2000 is having its best annual start since 1987.  Now, of course, 1987 didn't end well for the Russell 2000 or any of the stock markets. That was the year of the stock market crash in October.  Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

RATE AND REVIEW this podcast on Facebook. https://www.facebook.com/PeterSchiff/reviews/ The Eye of the Financial Hurricane U.S. stock markets continue to bask in the eye of this financial hurricane.  Remember, we ended the hurricane following the September rate hike, and if you recall I titled my podcast, "The Hike that Broke the Camel's Back", and that's what really began the sell-off in the market. We had this horrific fourth quarter, the worst December since 1931.  It may have ended up being the worst December ever had it not been saved by that last-minute Santa Claus rally - the biggest Boxing Day (Day after Christmas) rally ever, which followed the worst Christmas Eve in stock market history. The Fed's New Dovish Outlook But we entered the eye when the Federal Reserve came out and rescued the markets by backtracking on their previously indicated path of continued rate hikes and quantitative tightening.  In fact, we had a lot of people come out this week from the Federal Reserve today, again, reiterating their new dovish outlook. Everybody is a dove. There are no more stock market hawks.  Like there are no atheists in a foxhole - in a bear market there are not hawks, there are only doves.  That included people who are no longer on the Federal Reserve. Fmr. Federal Reserve Chairperson Janet Yellen came out yesterday, and she said that she thinks it is very possible that the December rate hike is the last rate hike in the cycle. She's right about that.  It's not just very possible, it's probable. Yesterday we had Fed Vice Chair Richard Clarida said that the Fed is going to raise rates fewer times than they had indicated in their most recent press conference.  Of course, by then, they had indicated two rate hikes. Now he is saying they are going to raise rates fewer than two, which could be one, but it could also be zero. Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

RATE AND REVIEW this podcast on Facebook. https://www.facebook.com/PeterSchiff/reviews/ Everything up on the Week Except Treasury Bonds and the Dollar The stock market ended a positive week on a little bit of a down note; all of the major averages had small losses today - well off the lows of the day.  The market tried a couple of times to sell off but the dips were bought on each occasion and we ended up closing near the highs of the day, even though we were down on the day. Pretty much everything was up on the week except treasury bonds and the dollar. The dollar fell, long-term interest rates rose.  Gold was up.  Oil was the big winner, even though it was down close to a dollar a barrel today, we closed right around $52; up better than 8% on the week. All Fed - No Change in Fundamentals But what has been driving the rally has all been the Fed. There's nothing fundamental that has changed about the U.S. economy or about the U.S. stock market other than the "Powell Put" is now back in play.  In fact, it's not just Powell putting that out there, he has been joined by a chorus of central bankers who came out today, yesterday, all throughout the week - they're all now reading from the same dovish playbook.  They've got their marching orders and they are talking up the market.  Now talking how the Fed has to listen to the market, be careful and take its cues from the market. It used to be that the market didn't matter.  The Fed was going to do its thing and the markets are going to do what they are going to do. And it didn't take long for that to change. The Fed Can Not Allow the House of Cards to Fall Of course, I've been saying that all along; that the Fed was not going to allow this house of cards that they deliberately inflated to just fall apart. Now they had to pretend that they didn't care about the markets but, of course the whole time, they were hoping the markets actually didn't go down because they didn't want to have to reverse policy.  They wanted to talk tough even though they didn't have a stick.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

The Peter Schiff Show Podcast - Episode 433 RATE AND REVIEW this podcast on Facebook. A Bear Market Correction U.S. stocks continue their correction by moving higher yet again today. Remember, when you have a bull market, the corrections are down, because you're correcting the upward trend by moving backward.  In a bear market, it's the opposite. You correct a downward trend by retracing upwards.  That's what we're doing now. I think this is the first rally in this bear market, so this rally is, in fact, a correction. Powell is now "Super Dove" I think the U.S. stock market is off to its best annual start in about a decade; certainly the NASDAQ is up I think not quite 5% - 4.7% on the year.  Of course, what got the correction going was the complete 180 by Powell in that round table discussion, where he basically reversed everything he was saying and became the "Super Dove" when it comes to rate hikes. So the market is now pricing out many rate hikes it had probably priced in and that was the catalyst to really get the market going. Markets Have Not Priced in End of Quantitative Tightening Of course, what hasn't been priced in yet are the rate cuts or the end of the quantitative tightening program and the re-launching of quantitative easing.  All that is coming. The markets just aren't there yet. They just can't see beyond where we are now. They're looking at this mountain and they don't see the valley on the other side. Interest Rates High Relative to Mountain of Debt Again, it's not the rate hikes in the future that were going to cause the recession, the rate hikes from the past have already guaranteed a recession, even though interest rates in absolute terms and relative to where they've been historically are still very low, they are not very low considering the enormity of the debt that we now have; that we didn't have historically. So when you have this mountain of debt, a historically large amount of debt, you need a historically low rate. Even though the rates we have now are still low, they're not as low as they used to be and they're not as low as they need to be.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

RATE AND REVIEW this podcast on Facebook. https://www.facebook.com/PeterSchiff/reviews/ Big Move Up Today Another big move today in the U.S. stock market except this time the big move was to the upside, more than eradicating yesterday's big decline.  In fact, looking back historically, yesterday's drop was the second biggest drop in history for the second day of the New Year. The biggest drop on the second day of a new year was in the year 2000. That was the year when the NASDAQ bubble originally popped. That big drop happened at a time where the market was peaking and we were just beginning a bear market where the U.S. stock market went down by about half and the NASDAQ went down by abut 80%.  So not a good comparison. NASDAQ Biggest Mover Up 4.25% On the other hand, today's rise was the second biggest rise for the S&P on the third day of a new year in U.S. stock market history. The biggest rise happened in 1932, and that was during the great depression.  Clearly not a good period for the U.S. stock market or the U.S. economy to have to go back to 1932 to see a third trading day in January where you have this big a gain.  In fact, the Dow was up 3.3% on the day but the S&P up 3.4%.  The biggest mover was the NASDAQ, which was up 4.25%. So much bigger than the drop that we had yesterday.  The Russell 2000 was up 3.75%. What was the Catalyst? So what was the catalyst?  Why did the U.S. stock market go up so much today after being down so much yesterday? First of all, the market started off on a positive note.  I'm pretty sure we were up 2-300 points right out of the gate in the futures, even before we got the Nonfarm Payroll number that came out at 8:30 a.m.  Futures were already trading, and there was already a big gain before that number was released. So it wasn't the jobs report that actually was responsible for today's move. Fed Chairman Jerome Powell's Dovish Statements It had much more to do with the comments made by Fed Chairman Jerome Powell.  Those comments were made maybe an hour or so after the stock market opened.  But let's start off early this morning.  What was propping up the market in the morning, or overnight, was more optimism that a trade deal between the U.S. and China is imminent. Now, of course, whatever trade deal is negotiated is going to do nothing.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

RATE AND REVIEW this podcast on Facebook. https://www.facebook.com/PeterSchiff/reviews/ Big Moves in the Market Today For those of you who have been waiting all year for the first Peter Schiff Show Podcast of the new year, 2019, here it is.  We finally got a day with enough worthwhile news that it made sense for me to do a podcast.  I'll probably end up doing another one tomorrow, when we get the Nonfarm payroll numbers - the jobs numbers.  We'll see if that's a big market mover.  But we had a lot of movement in the markets today; all sorts of news came out as well, weighing on the markets. Apple Closed Down 9.7% The Dow was down 660 points today - pretty much about the same drop that we had on Christmas Eve.  Now I doubt that today will be followed by a repeat of Boxing Day, where we get a 1,000 - point rally, but we'll see. The excuse of the day was probably Apple.  You can say that Apple took a bite out of the stock market today.  Apple announced yesterday just after the close that its sales would be disappointing, and Apple stock was down just under 10%.  It closed down 9.7%, pretty close to the lows of the day - not the exact lows, but it has got to be one of the biggest losses in history for Apple. Everybody Got a Rotten Apple Today Apple is very widely owned; the Swiss Central Bank is a big holder of Apple stock.  A lot of hedge funds own Apple, Berkshire Hathaway (Warren Buffet) has a big position in Apple - pretty much in everybody's portfolio. So everybody got a rotten Apple today. In fact, Apple is now down almost 40% - 39% from its peak price.  Remember, when it was at peak, it was over a trillion dollars in market cap. It was Apple and Amazon that were trillion dollar companies.  Well, no more.  Apple, again, has dropped not quite $400 billion in market cap from its peak.  Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

RATE AND REVIEW this podcast on Facebook. https://www.facebook.com/PeterSchiff/reviews/ Published on: Dec 28, 2018  Or Did It? It looks like the Grinch may not have been able to stop Christmas from coming to Wall Street.  It looks like the Santa Claus Rally came just the same. - or did it? The worst Christmas Eve in the history of the stock market was followed by the biggest Boxing Day rally in the history of the stock market. We don't celebrate Boxing Day here in the United States; all the other English-speaking nations celebrate that holiday, but maybe we'll celebrate it in the future, given the fact that the Dow Jones rallied over 1,000 points this Boxing Day.  So that more than eradicated the 650 point drop which was the biggest Christmas Eve drop in history. A Bounce Could Come at any Time If you recall, on my last podcast, I mentioned that following Christmas Eve's drop, this December was the worst December in stock market history. We has finally beaten out the 1931 December.  But I also mentioned that given the extreme oversold condition that existed in the market, it was possible that a bounce could come any minute or any day, and I was not sure whether or not we would finish as the worst December in the history of the stock market because we still had several trading days left for the market to bounce, and that is exactly what happened. The Grinch May Have a Change of Heart In fact, we managed to close positive on the week. I think the Dow finished up about 617 points.  Now, of course, we still have one more day for the Grinch to have another change of heart. If on Monday, the Dow is down more than 617 points which is easy to do given the volatility that we're seeing, especially we're no longer oversold to the extent that we were on Tuesday - then the Grinch may have ended up stealing the Santa Claus Rally anyway.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

RATE AND REVIEW this podcast on Facebook. https://www.facebook.com/PeterSchiff/reviews/ Worst Christmas Eve Day in Stock Market History As I thought would be the case, it looks like the Grinch Stole the Santa Claus Rally.  Normally, the U.S. stock market rallies during the final five trading days of the year between Christmas and New Year's Day. But today was not only the worst Christmas Eve day in stock market history, it blew apart the old record.  In fact, there has never been a Christmas Eve day where the S&P or the Dow fell by as much as 1%. Today, the Dow Jones dropped better than 650 points - 2.9% on the day. Officially Not a Correction Although the Dow now is the only major index not officially in a bear market (now down 19.15% from its peak), but the S&P 500, which dropped 2.7% today is now down just over 20%.  So it's now official, Wall Street can stop pretending that it's a correction, they have to admit that it's a bear market. Now, if they want to hang their had on the Dow, O.K. well they can hang it there maybe for one more trading day, because it's not going to take much for the Dow to join the party.  Of course, other indexes are extending moves into bear market territory. The Dow Transports are down 25.7%; the NASDAQ just under 24% to the downside. The Russell 2000 Losing Gains Rapidly The Russell 2000 is down 27.3%.  This index is down better than 5-1/2% since Donald Trump was inaugurated.  This was the index that was supposed to benefit the most from Trump's economic policies.  It's still up about 6% since he was elected President. So all that hype is still in there. But at the rate the index is falling, this index is going to lose those gains pretty rapidly. Then, of course, Trump is not going to be able to talk about all the wealth that has been created in the stock market since he's been elected, because all that paper wealth will have been destroyed.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

RATE AND REVIEW this podcast on Facebook. https://www.facebook.com/PeterSchiff/reviews/ NASDAQ Now in Bear Territory It was a big down day, in fact there was even more carnage in the NASDAQ.  Today is the day that NASDAQ finally slipped into bear market territory. So, Wall Street's been calling this a correction the whole way, well now the NASDAQ is down 22%, joining the Russell 2000, down 26% and the Transports down 24%.  Those 3 indexes are now officially in bear markets. It's All a Matter of Time But what does that mean? That means when the NASDAQ was only down 5%, it was in a bear market. That's exactly what I was saying. They don't acknowledge the bear market until it's down 20%, but that doesn't mean it's not in a bear market. It just means nobody wants to admit that it's a bear market.   Now we still have 2 indexes that are not in bear markets, the S&P 500 is now down almost 18% and the Dow Jones is down just under 17%.  So Wall Street maybe can cling to the notion that these indexes are not in bear markets because they're not down 20%.  Look, it's all a matter of time.  As I said on the last podcast, I thought that the NASDAQ would be in a bear market by the end of the week and that's exactly what happened, and I'm pretty sure that the S&P 500 and the Dow are going to join this party before the end of the year. Huge Bear Market in FAANG Stocks Today's decline started off as a rally.  The Dow was up about 400 points this morning, before it collapsed.  So we basically reversed yesterday's decline and then we got clobbered and took out new lows. The NASDAQ was down 3%.  That was the weakest index, and it was led down by the FAANG stocks, which are now down collectively, on average, 35%. This is just generally in the last few months. So this is a huge bear market in the FAANG stocks. The worst of the FAANG's is Facebook, which was down big again today, like 5 of 6%.  Facebook is now down 43%.  Second place, is Netflix, down 42%, then Amazon down 33%, and lastly, Google, which is down only 23%. Google just finally went into a bear market this week. If you look at the charts, there is nothing but air - there is a long way down between where we are now and where any kind of trend lines or support lines could be drawn.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

RATE AND REVIEW this podcast on Facebook. https://www.facebook.com/PeterSchiff/reviews/ Seventh Rate Hike since Trump's Election As expected, earlier today, the Federal Reserve nudged up the Fed Funds rate by another quarter point.  The Fed is now targeting their rate at 2.25 - 2.5%.  So the range is somewhere in the middle, there. This marks the sixth time the Federal Reserve has hiked interest rates since Donald Trump has been President, and the seventh time that the Fed has hiked rates since Trump was elected. Remember, during the entirety of Obama's 8-year Presidency, the Fed raised interest rates only once. A 900-point Selloff What the markets did not expect was the dovish hike to be so hawkish. In fact, the minute I heard the language, I was surprised that the Dow didn't immediately sell off, more than it did. It had a bit of a bounce before it sold off, the Dow Jones ended up down just over 350 points.  The selloff from the high to the low was just under 900 points. Earlier in the day the Dow had rallied up about 300 points because there was a lot of anticipation that even though the Fed was going to hike rates today, that it would indicate it would pause.  That was on neutral - that it wasn't really planning any more rate hikes for 2019, and would just play it by ear. It was going to be data dependent. Dow's Worst December since 1932 But what the Federal Reserve said in their official statement that accompanied the news was that they had reduced their expectation for rate hikes for next year from 3 to just 2 anticipated rate hikes.  Now, that may be considered dovish, but it did not nearly meet the expectations of the market.  It was expecting something much more than that. When I heard that, I thought, "The market's going to get killed." And it did go down but I think a lot more of the carnage is going to happen probably later in the week and next week.  In fact, the market is now down so much that the Dow is having its worst December since 1932.  Of course, that was the beginning of the Great Depression.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

RATE AND REVIEW this podcast on Facebook. https://www.facebook.com/PeterSchiff/reviews/ Two Podcasts in One Day! For those of you who were worried that I wasn't going to be able to do a podcast today to talk about the stock market or the economy because I already did a podcast earlier this morning, well, you're wrong! Here I am, doing my second podcast of the day.  This may be an unprecedented event. I don't know if I've ever recorded 2 podcasts in the same day. Don't Miss This Morning's Podcast on the Unconstitutionality of Obamacare The reason I did the earlier podcast was because I wanted to address the topic of the Federal court in Texas striking down the ACA individual mandate and rendering the entire Affordable Care Act unconstitutional. I would encourage you to listen to that podcast if you are interested in this topic or the Constitution to listen to it in its entirety. Not a Crash, but Regular Volatility But let's talk about another big down Monday.  As I suggested when I did my podcast on Friday, I'm still thinking that there is a possibility of a Black Monday type event this year.  I said we were running out of Mondays because we only had 3 left, and now one down.  This, again was not a crash, but the Dow did close down better than 500 points.  At one point, we were down over 600.  You know, these big drops are not becoming a recurring event - they add up, right? Worst December Start Since 1980 If you look at the charts, we look extremely vulnerable to a big drop. I read that already, we're off to the worse start for a December since 1980. That was really the end of the last bear market. We had a bear market that went from 1966 to 1982, so the last time we had a December this week was at the tail end of that long-term secular bear market.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

RATE AND REVIEW this podcast on Facebook. https://www.facebook.com/PeterSchiff/reviews/ Decision May Well Stand up under Appeal A Federal Judge in the state of Texas, U.S. District Judge Reed O’Connor, has ruled that the Affordable Care Act, otherwise known as Obamacare, is unconstitutional, and therefore the law would be null and void, that it would be struck down.  Of course this will be the subject of appeal, so whether or not this decision is going to hold is still an open question. But if you listen to the way it is being reported in the media, the reaction from a lot of the people, particularly the Democrats, is that they are accusing this judge of being partisan, being a judicial activist, that this is a ridiculous crazy decision and that it will clearly be overturned.  All this is a bunch of nonsense. The judge in this case is completely correct. Obamacare was unconstitutional before this decision. The Rationale Behind Judge's Ruling This particular judge focused on one aspect of the law, but there are so many reasons this law is unconstitutional. But for the purpose of this podcast is to focus on the rationale behind the judge's ruling and why I believe the decision is valid and may, in fact stand up under appeal.   Under the new makeup of the Supreme Court, some of the new justices could easily side with the original dissent to form a new majority now that the law itself has been changed based on the Tax Cuts and Jobs Act, which is the basis of this particular decision. Read Article 1, Section 8, Clause 3 of the U.S. Constitution I did an earlier podcast on whether or not the U.S. government could require American citizens to purchase health insurance. Now the theory was that they had the right to do this under what is now known as the Commerce Clause (Article 1, Section 8, Clause 3 of the U.S. Constitution), one of the single most understood Constitutional clauses which has enabled the government to get away with all sorts of things that the Constitution does not authorize. This is where all the powers to the Federal government are delegated. One of the powers is to regulate commerce with foreign nations and among the several states and with the Indian tribes. That's it. Constitution Allows Federal Government to Regulate Commerce, not Companies Now based on that clause, you have had Supreme Courts validate government regulation of companies because the government claims that since those companies engage in interstate commerce, that it falls within that power, that Congress can regulate these companies because the company is engaged in commerce. Of course, that's not what it says.  The Constitution doesn't say the Federal government has the right to regulate companies that engage in interstate commerce, it just says it can regulate the commerce, itself. The commerce has to do with the flow of goods and services over state borders. So this is an unconstitutional expansion of Federal power. The Federal government does not have the constitutional authority to regulate businesses simply because these businesses happen to engage in interstate commerce. Federal Regulation of Business Outside of Constitutional Authority But that was even the camel's nose under the tent, because then it got worse.  Then what happened is companies that were regulated that did no interstate commerce were saying, "this law does not apply to me because I don't engage in interstate commerce." But the Supreme Court said that the Federal government under the Commerce Clause can regulate companies that do not even engage in interstate commerce if they can show that those companies somehow effect interstate commerce, even though they themselves do not participate in it. So now,Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

RATE AND REVIEW this podcast on Facebook. https://www.facebook.com/PeterSchiff/reviews/ Technicals Portend Bear Market in Small Caps and Transports The Dow managed to finish off this Friday with a loss of less than 500 points.  The Dow Jones Industrial Average finished down just 496.87 points. So I guess the headline can be: "We Avoided a 500 Point Decline!".  At one point, the Dow was better than 550 points in the red.  But, when you close that close to your low of the day, within 10 percentage points of the low, that is a very weak close. The Dow finished the day weak, the week weak, and it is a very weak month.  In fact, the weakest indexes continue to be the Russell 2000 - I've been talking about the weakness in the small caps.  That index is now down better than 19% from its peak just about 4 months ago. So we're almost officially in bear market territory.  We'll probably be there by Monday, judging by the technicals. Possible Black Monday? The other index that is leading the way down is the Dow Jones Transports. This index is now down better than 18% from its peak.  Both the Transports and the Russell 2000 are at the lowest levels of the year. They took out the lows from the earlier decline that happened at the beginning of the year, so the Dow and the NASDAQ have yet to take out those lows set earlier in the year, but I believe they will.  In fact, they may even take them out before the end of the year. Monday, again, is looking extremely weak. I've been talking about this all quarter, where I think there is a potential for a Black Monday type of event. Obviously, we're running out of Mondays this year.  Both Christmas Eve and New Year's Eve fall on a Monday and there will probably be very light trading going on, so potentially the markets could see a lot of selling if there are not enough people there to buy. Appearance on Countdown to the Closing Bell this Monday I will be on Fox Business News, The Countdown to the Closing Bell this Monday, with Liz Claman.  Maybe if I get lucky we'll have a Black Monday on a day that I happen to be on television.  I will be there for the final hour of the day and often times, the biggest part of the sell-off on big down days happens at the very last hour, so I'll be live on Fox Business for that potential big drop. Make sure to tune in live.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

RATE AND REVIEW this podcast on Facebook. https://www.facebook.com/PeterSchiff/reviews/ Mainstream Forecasts Incorporating Recession We are in the early stages of this bubble popping.  That's why, if you look now at a lot of the mainstream forecasts, all of a sudden, they're all incorporating recession. The probability of recession is now very high over the next couple of years.  I read J.P. Morgan now is saying that there is a 70% probability that the U.S. is in recession by the end of 2020. In fact, most of the forecasts I'm looking at now predict that the U.S. will either enter recession next year or in the following year. This is a huge change from where people were just a few months ago, where there were no recessions as far as the eye can see. Now we're staring them in the face. Third Consecutive Drop in Small Business Confidence One thing that really hasn't changed so much is that you have all this optimism that still abounds. It doesn't make sense to me that people could be so optimistic about an economy that they concede is so close to recession. Now, I think on Tuesday we did get a drop in small business confidence, it's the third consecutive monthly drop, and three months ago, small business confidence hit an all-time record high. But if you have more of these small business owners thinking that we are a year away from recession, in fact less than a year if you think recession is going to start in 2019 - we're going to be in 2019 in a few weeks. So, if you think recession is so close, how much longer can you remain so confident? The Fed Doesn't Have Recession in its Forecast Now, of course, the Fed doesn't have recession in its forecast; not even close.  The National debt is careening toward $22 trillion and these guys are putting out their rosy estimates for economic growth.  They're not starting to factor in these recession forecasts that are becoming more and more mainstream. Fed Funds Rate in Negative Territory in Real Terms The problem for the Federal Reserve is that they are trying to keep this bubble from imploding, but the task is impossible because enough air has already come out of it. Interest rates have already risen to the point where the camel's back has been broken. The Fed has now backtracked into admitting that we're just slightly below "neutral". We're one more rate hike away from "neutral" even though one more rate hike will still leave the Fed Funds Rate in negative territory in real terms, not in nominal terms. If you accept the government's inflation numbers and we got CPI and PPI numbers that came out yesterday and today - if you look at the core, we've got the hottest core in 7 years.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

RATE AND REVIEW this podcast on Facebook. https://www.facebook.com/PeterSchiff/reviews/ Pearl Harbor Day 2018: A Very Interesting Technical Day Today is December 7th, a day that will live in infamy.  Unless you are a Millennial who was educated in the U.S. public school system.  In which case you have absolutely no idea what happened on December 7th 1941. You've probably never heard of Pearl Harbor, you certainly don't know where Pearl Harbor is located.  Maybe you've heard of World War II, but a lot of them haven't.  Even those who have heard of World War II probably have no idea who fought, or even who won. As Goes the NASDAQ, so Goes  the Rest of the Market Today, December 7th maybe won't live in infamy, but it seems to me it was a very interesting technical day in the U.S. stock market, which should give the bulls on the stock market something to think about. I think the action today, particularly in the NASDAQ, (I think as goes the NASDAQ, so goes  the rest of the market) but that action was particularly significant. An "Outside Day" One of the more reliable technical patterns is an "Outside Day". An outside day is when you trade above and below the highs and lows of the previous day, and then close above or below one of those lows. It's an outside day even if you close somewhere in the middle. An "Inside Day" is when you trade within the range of the previous day; you don't take out the high or the low. But the most significant type of an outside day is an outside day where you close above or below the previous day's high or low. That would be called an "Outside Reversal Day".  It' s a positive if you could take out the previous day's low, but then rally and then close above the previous day's high. The Russell 2000 and the NASDAQ Took out Yesterday's Lows What the NASDAQ did today was the opposite of that.  The NASDAQ rallied this morning on, I guess the weaker than expected jobs numbers and took out the highs from yesterday.  In fact, all of the major markets - the Dow, the NASDAQ, the Russell 2000 - they all took out yesterday's highs. But then they came crashing down,  The Dow did not take out yesterday's low - so the Dow did not have an outside day.  But both the Russell 2000 and the NASDAQ took out yesterday's lows.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

RATE AND REVIEW this podcast on Facebook. https://www.facebook.com/PeterSchiff/reviews/ Dow Volatility Started with Huawei News We had another very volatile day today on Wall Street, and it really got started last night with the news of the arrest in Canada of the CFO of the Chinese company, Huawei. Her father is the founder of the company and a very prominent, powerful and influential man in China and this set the mood.  the Dow futures dropped initially, I think about 500 points as soon as the story broke.  Obviously, anything that may throw a monkey wrench in the supposed deal that was made over dinner, mano a mano, down in South America between Trump and Xi.  So this caused some problems. Dow Down About 780 on the Lows The market clawed its way back; I think we were down maybe 200 and change, but then we started selling off early in the morning and when the Dow Jones opened up, we were down maybe about 400-500 very quickly and we sold off almost down to 800 points. The Dow was down about 780 points on the lows.  This is following yesterday's market holiday honoring the memory of the late President George Herbert Walker Bush. That day of mourning, however did not do anything to stop the carnage on Wall Street. Market Clawed its Way Back on Fed "Wait and See" News What it took was an article that came out later in the day in the Wall Street Journal.  That article basically said that the Fed was considering a new "Wait and See" strategy after the December rate hike. And the odds of a December rate hike, which are coming up, the probability is about 75%, which is lower than it was, so there is still a chance that the Fed does not hike in December. But according to the Wall Street Journal doesn't take place immediately.  This is after the December hike. So for 2019, the article suggests that maybe there'll be even fewer rate hikes than the markets believed. Debt Service Costs Creating a Drag Everything was weak until we got this news from the Fed that turned a lot of the tech stocks around and got the market moving higher. I don't think this does anything, because, it doesn't take the December rate hike off the table, and if the Fed raises rates in December, then all the problems that already exist because of higher rates, will be bigger. This means mortgage rates will be going up. Debt service costs will go up. One of the big drags on the economy now is that debt service costs have gone up. So if the Fed adds to that pain by following through with another rate hike in December, it will be just another weight on the economy's back. The Fed is still talking about raising rates in 2019 - they're saying one more, and we're going to wait and see.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

RATE AND REVIEW this podcast on Facebook. https://www.facebook.com/PeterSchiff/reviews/ No Relief As I said on yesterday's podcast, I did not we had a "Wall Street Relief Rally", based on the stand down or truce in the trade war following the backtracking by the Fed on the potential number of rate hikes and the distance we were from neutrality. Interest Rates Anything But Neutral By the way, yesterday I referred to the rate hikes as normal; I should have said neutral - obviously what we have now is not even close to being normal. The Fed is trying to convince us that the new "neutral" rate of interest is now lower than what was considered neutral in the past. Why is that? Because we have such an enormous amount of debt now, the Fed has to keep interest rates much lower in order to achieve neutrality.  But, of course, if the Fed needs to keep interest rates low, it's not neutral. Those low interest rates are actually stimulative. What the Fed is trying to do is use artificially low interest rates to prop up the economy and then claim that those artificially low rates are neutral. They're anything but neutral. They are accommodative.  This is cheap money, this easy money, and ultimately it is going to set off massive inflation. A Terrible Day, Technically Nobody seems to understand that yet, but that's what's coming. People are continuing to be complacent despite today's substantial drop in the value of stocks. Today the Dow was down just shy of 800 points - 799 points.  At the lows, it was down over 800. We didn't close on the exact low; maybe they're going to somehow claim that that was a rally or something - the fact that we closed slightly off the lows.  This was a terrible day, technically, and in fact I mentioned again on yesterday's podcast, the fact that the market made the highs on the open - it did not trade very well, and it looked to me that we would fall down. I did not know that we would drop this much this quickly, but it doesn't surprise me.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

RATE AND REVIEW this podcast on Facebook. https://www.facebook.com/PeterSchiff/reviews/ Interest Rates and Trade War The two things that everybody seems to agree were weighing down the markets were the Fed's relentless drive to normalize interest rates, and figure out where "normal" was, and, of course, the trade war - the threat of additional tariffs overhanging the markets.  So I think it was pretty clear to President Trump who is hanging his hat on the stock market, has decided that the stock market performance is the best barometer of his Presidency. So the fact that the stock market was falling was really a big problem for the President so he had to do what he could to try to get the stock market to go back up. Fed Restated "Normal" The first part of the two-pronged attack was the interest rates. Whether he was able to convince Powell to change his tune or whether Trump just got lucky and the Fed decided to backtrack, as I mentioned in my last podcast, the Fed has now said, "We are just below normal." Meaning that we only need one more rate hike before we get to normal, whereas in the past the Fed had said that normal was quite a ways away, and that the Fed would have to raise rates many, many more times in order to achieve normal.  And of course, anybody who knows anything about the history of interest rates would have to agree that where we are now, at 2% is historically abnormal. It obviously could not be considered neutral based on any kind of past precedent. So the fact that the market was able to backtrack so quickly really threw a bone that the market and Donald Trump badly needed.. Trade Tensions Weighing Down the Market But the other factor that was weighing down the market was all the trade tensions, and all the talk about the tariffs that were going to be imposed in less than a month. The first of next year we were going to get these 25% across-the-board tariffs.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

RATE AND REVIEW this podcast on Facebook. https://www.facebook.com/PeterSchiff/reviews/ The Fed's Game of Chicken The big news was yesterday, when Fed Chairman, Jerome Powell, basically flinched. I've been talking about the game of chicken that the Federal Reserve has been playing with the markets. The way the game of chicken goes, is the markets keep moving lower and the Fed keeps talking about how great the economy is and how many rate hikes are coming in the future. Somebody has to flinch - somebody has to blink. It's like you have these two automobiles driving toward each other, and there's going to be a major crash unless somebody turns the wheel.It seems like it was Jerome Powell who turned the wheel first, and, in fact, was chicken. The Fed Is Worried About All Asset Prices, Not Just the Stock Market As much as the Fed wants to pretend they don't care about the stock market - they absolutely care about the stock market. They are tremendously worried about a weakening stock market.  Remember the goal of quantitative easing was to lift the stock market - to create a wealth effect and it was that stock market-created wealth that was going to drive consumption and the economy. And it wasn't just the stock market; it was also the real estate market.  So the Fed is worried about all asset prices, not just the stock market.  Clearly the real estate market is in even more trouble than the stock market, but both of these markets were headed lower, and I think that is what really prompted the Fed to blink - to swerve in this game of chicken. Powell Suddenly Dials Back the Narrative Now, of course you also had President Trump pressuring the Fed, you had Mnuchin putting some pressure on the Fed, which I think should also be a worrying factor.  We don't really know. There was a lot of speculation about what was behind the Fed's change of heart - change in policy.  After all, up until yesterday, even when you had the Vice Chair speak, the tone was very hawkish: "Yep, we've got lots of rate hikes coming." And now all of a sudden, Powell dials it all back.  Basically, what Powell said that convinced people that maybe there will not be as many rate hikes in the future, is, "We're just below neutral. We're almost there, maybe one more rate hike ought to do it." Is 2.25% to 2.5% Neutral? First of all, we're still at 2%, so that would imply neutral is 2.25% or 2.5%. That really shows you how low the neutrality bar has been lowered given the enormity of the debt bubble that have.  Once upon a time, and not too long ago, a 2.5% Fed Funds rate would have been considered highly stimulative.  Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

RATE AND REVIEW this podcast on Facebook. https://www.facebook.com/PeterSchiff/reviews/ 25% Tariffs Will Inflict Rather Substantial Damage to the U.S. Economy The Dow Jones managed to finish the day up just over 100 points - I think that was about the high of the day, and we erased a loss that at one point was better than 200 points.  I think a potential catalyst was a talk given by Larry Kudlow earlier in the day in which Kudlow raised some optimism over the possibility of a deal with China that would, of course avert the 25% across the board tariffs that are going to go into effect at the beginning of the new year. Of course, there is always the possibility of a resolution, and I still thin that there is going to be some type of face-saving resolution on both sides to avert these 25% tariffs.  I do think that they will inflict rather substantial damage to the U.S. economy, which is already rapidly decelerating, despite everybody's refusal to admit that (including the Federal Reserve, and I'll get to some comments later in the podcast). Trump Is Pulling the Strings But I don't think the President can risk the 25% tariffs as much as he wants to posture that the U.S. economy is in great shape, and we are in a better position than China to weather any kind of short-term damage that might be created by the tariffs.  I don't think the President is eager to test that hypothesis.  I think he would rather take credit for averting the crisis, even if the crisis was a matter of his own doing. He throws out the potential for the crisis, but of course, the only reason why the crisis is dangling in front of us is because Trump is pulling the strings. It's Impossible to Consume What Has Not Been Produced To the extent that the Chinese can produce all these products, they don't need America to consume them; they can consume the products themselves. Once the products are produced, consumption is a foregone conclusion. It's easy to consume what's been produced; it's impossible to consume what has not been produced.  Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

RATE AND REVIEW this podcast on Facebook. https://www.facebook.com/PeterSchiff/reviews/ Dow Could Not Hold Onto the Gain After yesterday's, I think 550 point drop in the Dow, the market bounced back a bit today.  I think at one point earlier in the day the Dow managed to gain over 200 points, but it could not hold on to that gain.  It closed down just under one point.  Very weak technical action for today's pre-Thanksgiving bounce. Normally, the markets are up on the day before Thanksgiving, and in general, they were.  The other indexes all managed to close in the black, although considerably off their intra-day highs. Decline in Retail Touted as Excuse, But It's Just a Bear Market The XRT, which is an index of retailers (I talked about that on this podcast before) snapped an 8-day losing streak.  More bad news came out from retailers yesterday; that was part of the reason that you saw the big sell-off in the Dow.  That was the excuse; I don't think the market needs a reason to go down. It's a bear market, and that's what bear markets do - they go down. Of course people who don't know that they're in a bear market make excuses to try to rationalize why the market is going down because they don't want to admit that they are, in fact, in a bear market. Dead Cat Bounces All Around Everything bounced today, I guess dead cat bounces all around. Even Bitcoin managed a rally. In fact yesterday, Bitcoin got as low as $4,050.  So it held $4,000.  Of course, you have people saying, "Ah Ha! $4,000 is the bottom!" I doubt it. It makes sense that there'd be some support at a round number. I doubt that this is THE low. It may not last more than a day or two, given the momentum in this decline. Malinvestments are a Classic Part of Every Bubble Remember I have talked about all the malinvestments that are taking place. When a lot of people argued with me about why Bitcoin was going to succeed, they pointed out that all this capital was going into the industry; all this infrastructure was being built up, and so therefore Bitcoin was going to work because it had all this infrastructure behind it. My argument was always that  infrastructure represents malinvestment. That is a classic part of every bubble.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

RATE AND REVIEW this podcast on Facebook. https://www.facebook.com/PeterSchiff/reviews/ FAANG's Took a Big Bite Out of the Market Another Monday, another big down day for the U.S. stock market, it is turning out to be one hell of a quarter; not all of the declines happening in October. But as I said earlier, it doesn't have to be in October for the market to crash. Today wasn't a Black Monday; certainly the percentage decline wasn't out of the ordinary.  Although the FAANG stocks, in particular, there was a big bite taken out of those stocks, and it wasn't just the bite that was taken out of the Apple, which was some of the news that precipitated today's decline. A big down day nonetheless. NASDAQ Having one of the Worst Quarters Ever The Dow Jones down just shy of 400 points - 395, or 1.5%. On the lows, we were down better than 500 points.  The Russell 2000 closed down just over 30 points - that's a 2% point drop.  But the big drop was the NASDAQ - down 219 points, just over 3%, pretty close to the lows of the day. The NASDAQ is now down 12.5% so far this quarter - probably one of the worst quarters ever. I think the only thing that may slow down the decline is if the Fed skips the December rate hike. Although, even that may not be enough. If the Fed doesn't hike in December, the markets might get worried that the Fed knows something and that the economy is much weaker and therefore earnings will be much weaker, so, to me, i think if the market's going to get a stay of execution from the Fed, it's actually going to have to be a rate cut. Homebuilder Sentiment Lower Than Expected There are plenty of other data points that are coming out, both corporate news and news about the overall economy,  In particular, today, that I think weighed heavily on the markets. The first one being the Homebuilder Sentiment for November.  That came out at 10am. So the markets were already trading based on another piece of news which I will get to. Last month, Homebuilder Sentiment's number was at 68. Now anything above 50 is supposedly O.K. It still means they're optimistic. And the consensus was for Homebuilder Sentiment to stay at 68. Instead, it plunged all the way down to 60. In fact, the range of forecasts went from a low of 66 to a high of 69. That drop, from what I've read, that is bigger than any drop we've had during any month of the last bust that led to the 2008 Financial Crisis. We've never seen a rate of decline like this. Obviously that scared the market. This is just one of the first sentiment indicators that is giving way. Obviously, home sales are imploding so you might expect builders to be a little bit nervous about this, even though they are still somewhat optimistic. But remember, this whole rally is built on confidence and the confidence is going to start going everywhere, In addition to the Homebuilders, you're going to see business confidence, particularly small business confidence, which was at a record high. Apple Now in a Bear Market But there was some other particularly bad news that came in before the opening bell, and that one was from Apple. They said they will be cutting production because of lower sales. That decision trickles down, effecting a lot of companies who count on those orders from Apple. The price of Apple is down by 4% on the day. But if you now look at the total drop - just over 20% - and that means the way Wall Street scores it, Apple is now in a bear market. Facebook Led the Market Down Of course, not just Apple, the FAANG's in general, the market took a bite out of those guys today. Facebook leading the market down - down another 5.5% on the day. That brings the total decline for this bear market to 40%. In second place is NETFLIX, that was down 5.5%, today so pretty much neck and neck with Facebook. But since its peak, NETFLIX is down 36%.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

RATE AND REVIEW this podcast on Facebook. https://www.facebook.com/PeterSchiff/reviews/ Optimism Over No Tariffs Fueling Market Move Donald Trump, I think, was the reason the markets ended up finishing in the black today, at least most of the major indexes.  In fact, the only index that was down on the day was the NASDAQ - the NASDAQ was the only major index that was down on the week, thanks to weakness in tech stock, in particular, the FANG stocks.  The comments that Trump made today basically gave hope to some people that potentially 25% across the board tariffs on all Chinese imports may not go into effect at the beginning of next year, which is the threat. If the Chinese ant Trump don't come to an agreement, then those tariffs are going to hit. Tariffs Are the Stick Apparently the tariffs are the stick that is going to be brandished by Trump, and he is going to use it to hit the Chinese over the head. But the threat of this big stick is supposedly going to bring the Chinese to the table, and there will be a deal that is favorable to the United States.  Of course, if these tariffs actually go into effect, the people who are really going to be hit with the stick are going to be Americans.  It's going to be American consumers who have to pay 25% more for everything they buy, and it's going to be American retailers who, of course, are going to sell a lot less stuff, because, if they have to raise prices by 25%, sales are going to collapse. Fed Hinting that "Data Dependent" May Signal Slowdown in Rates We had a couple of Fed guys out today -Fed Vice Chairman Richard Clarida - was interviewed today on CNBC by Steve Liesman -  I happened to catch that interview, and was listening closely to what Clarida had to say.  To me, he almost admitted that when the Fed pretended to be "data dependent" early on, they really weren't data dependent at all. They were just raising interest rates because they wanted to get them higher. They were afraid of getting caught with rates too close to zero in the beginning of the next recession, so they wanted to re-load that gun, so they wanted to get interest rates higher.  They kept saying they were data dependent, but I never really thought they were. Once they started to raise rates, they were just on auto pilot. But now, Clarida seems to open the door to the possibility that maybe, some of the rate hikes that we think are coming aren't going to come, because he talked about how now, the Fed can be more data dependent than it was in the past. Optimism Among Warning Signals Where in the past, we talked about being data dependent, but we really weren't, but now we actually can be because now we're closer to neutral. And since we're now closer to that number  we can take the data more seriously, meaning that if the data comes out weaker than we expect, well maybe we won't raise rates as much as we think.  and I think Dallas Fed President Robert Kaplan was also out today making similar comments that were initially taken as Dovish by the markets, because he was leaving the door open, apparently to the fact that the Fed may not deliver as many rate hikes as the markets believe. Both of these guys are extremely optimistic and upbeat about the U.S. economy. As if none of the bad news  that is happening around them matter. You've got the semi-conductors, you've got the retailers, you've got the autos, you've got the home builders.  All these sectors are blowing up one after another and they guys at the Fed are thinking "No Problem!" Cramer Exceeding Very Low Bar Set By Fed Also today, Jim Kramer, on CNBC, was out there critical of the Fed, basically saying that these guys don't know what they are talking about and that he's smarter than them, and they should pay attention to what he's saying.  Kramer may in fact know more than the Fed,Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

RATE AND REVIEW this podcast on Facebook. https://www.facebook.com/PeterSchiff/reviews/ Very Negative Technical Action We had another roller coaster ride in the stock market today, with the Dow Jones ending down about 200 points, but that was well off the lows of the day. I think we were down about 350 points, or close to it, at the lows. But, more interesting, we were up over 200 points earlier this morning. So this is very negative technical action, when you have these rallies and then close negative.  In fact, we were down another 100 points yesterday on the Dow, and today, we came to within, I think 10 points of taking out yesterday's high - and then we not only crashed below yesterday's low, but we closed below yesterday's low.  So another very weak day. A Change in Name Only I think one of the catalysts for the late afternoon rally, before the selloff, was all of the headlines coming out of Europe - the UK, regarding a Brexit deal, and I think that caused some people to buy stocks.  The dollar actually sold off.  It was down already; it sold off some more on that news coming out of Europe. But I don't know if this deal is going to fly . we'll see.  I read through some parts of the deal, and to me, it looks like Theresa May is trying to borrow a page from President Donald Trump. Basically, what she is doing, is she is trying to rename the union that the UK has with Europe . If you read what they are going to sign on to, it is going to be some kind of trade pact that really kind of subjects the UK to all the rules and regulations that prompted them to want to get out of the European Union in the first place.  So they're going to Brexit, but they're not actually going anywhere. Kind of like renaming NAFTA the USMCA . Basically, you're re-branding what you had before and claiming a victory. Maybe, politically speaking, May wants to try to honor the will of the voters by saying we accomplished Brexit, but basically not change anything.  It's just a change in name only.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

RATE AND REVIEW this podcast on Facebook. https://www.facebook.com/PeterSchiff/reviews/ Surrendered Rest of Post-Election Gains in One Day As I thought, it didn't take long for the markets to surrender all of the post-election gains.  The Dow Jones today was down 602 points, so we've already lost it. It took one day.  On my podcast on Friday I said that we would surrender the remainder of the gains this week and we did it in the first day of the week.  The NASDAQ actually had an even bigger decline; down over 200 points - 206.03 to be exact -down 2.78%. The Russell 2000 was also down 1.98% - just over 30 points - just shy of 2%. The S&P 500 was almost down 2% - 1.97% - 54.79 points . NASDAQ: Usual Suspects The usual suspects, of course, having some of the big declines.  Apple computer came out with worse than expected earnings last week- down another 5.45% today - down 194.  It is now below 250 - This is a new low for Apple.  A lot of the other computer stocks got beat up today: NVIDIA down 7.7%, Broadcom down 6.5&, so the entire tech sector really got beaten up. Of course, Swiss National Bank was a big loser; they are one of the largest investors in U.S. Technology stocks.  I did read an article, though, that said that they trimmed their portfolios rather significantly before the October decline, so the Swiss National Bank did not quite take it on the chin as badly as might otherwise have been the case. But, potentially, the news that the Swiss Central Bank was paring back its portfolio could be part of the negative news that is currently weighing down the market. $15 Billion of G.E. Shareholder Wealth up in Smoke Looking at stocks like G.E. - have been talking about G.E. on this podcast for quite some time. It is down again another 7% today, closing below $8 - $7.99 - the low price on the day was $7.72.  This is a perfect example of what happens when the buyback chickens come home to roost.  General Electric was buying back a lot of stock when money was cheap.  The company is loaded up with debt - $45 - 50 billion of debt.  They also have $20 billion + of underfunded pension liabilities which I think are going to be more under funded when the market goes down.  When money was cheap, yes, it was easy to borrow money and buy back stock; the price of the stock was going up. Look at 2016 alone. I think that was the biggest year of buy backs, although they have been buying back every year, but in 2016, G.E. bought back about $20 billion worth of stock, and the stock was around $30. It is now under $8.  The stock is down 75%. That means if they bought $20 billion worth of stock, that stock now has a market value of just $5 billion. $15 billion of shareholder wealth up in smoke!Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

RATE AND REVIEW this podcast on Facebook. https://www.facebook.com/PeterSchiff/reviews/ Dead Cat Bounce Flattens Out The Dow Jones was down a little over 200 today, closing back below 26,000. NASDAQ composite down 124 - that's a bigger percentage decline, 1.7%, approximately.  The Composite is being led lower by the tech stocks, particularly the FANG stocks once again taking a bite out of the market.  The markets, though, were positive on the week, thanks to that huge relief rally that took place on Wednesday following the results of the midterm elections on Tuesday. But as I said on my Wednesday podcast, I thought that relief rally was  just another dead cat bounce, that the fundamentals and the technicals still looked horrible for the U.S. stock market. I expected that rally to reverse, and of course that process had already begun Thursday and Friday.  I think it will continue next week and I think the rest of those gains will be surrendered. Higher than Expected PPI Sparked Sell-Off The catalyst for today's selloff was a much hotter than expected Producer Price Index number. The PPI was up .6% in 1 month, which is a big gain.  In fact this is the biggest jump in the PPI in 6 years. On a year-over-year basis, producer prices are up 2.8%.  The market was looking for an increase half that size: .3%, Even year-over-year, when you strip out food and energy we were still up 2.6%, which is considerably above the 2% level that the Fed is looking at. Of course, the Fed is looking at consumer prices, not producer prices, but of course, nobody can consume what is not produced.  These are really wholesale prices and of course they are going to get passed on to the consumer, so consumer prices are headed higher. The Markets Don't Get It But, again, the markets don't get it.  Gold dropped the minute this number came out, gold dumped about $10. It was already down on the day, and then it sold off and never recovered. On the other hand, bonds were relatively stable when the number came out. Maybe rates ticked up just a smidgen, but actually bonds rallied on the day.  Now maybe the weak stock market had a little bit to do with it, but the irony of it is that you get these numbers that show much more than expected inflation, and what do investors do?  They sell gold and they buy U.S. treasuries. Now, that is the worse thing to do if there's more inflation. Gold is an inflation hedge. So, if inflation is picking up, you would want to own gold to protect yourself from inflation.  On the other hand, the one asset that suffers the most, where the most value is eroded away because of inflation is a bond. A bond is specifically payments of cash in the future, and the more inflation we have, the less that future cash is worth.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

RATE AND REVIEW this podcast on Facebook. https://www.facebook.com/PeterSchiff/reviews/ Relief Rally Post-Midterms The elections are over and the Blue Wave was averted and the Dow Jones rose 545 points today to celebrate that fact and the NASDAQ was up 194 points, 2.64%; Russell 2000 up 26 points, about 1.67% .  Now you may be wondering why there was such a big rise in the stock market based on an outcome that was pretty much expected.  The Republicans lost the House of Representatives, and that was something that was widely anticipated by the markets.  But the loss wasn't that big; they lost 26 seats.  I think 23 was the number that the Democrats had to pick up.  But I think there was some concern that the Republicans may have lost the Senate - instead they actually picked up, I think 3 seats as of now, in the Senate - increasing their margin. This is only the third time in 100 years where that's happened, where you've had the incumbent party lose House seats but gain Senate seats. Obama's Midterm House Loss: 63 Seats But it is amazing that the press was trying to hold this out as some kind of repudiation of his policies: "You lost the House of Representatives".  Big deal!  Obama lost the house of Representatives during his first midterms in 2010.  That was one of the biggest disasters for an incumbent since Roosevelt. Obama lost 63 house seats. Not 26 - remember the Tea Party?  That was all 2010.  Trump did so much better than Obama.  In fact, the average loss for a midterm in the House is 37 seats.  Trump's loss of 26 was much better than average, but you wouldn't know that from listening to the Media.  But most impressive was the 3 seats gained in the Senate.  Barack Obama lost 6 seats during his first midterm elections. That's a 9-seat difference between what Trump was able to accomplish and Obama's accomplishment. Economy-Stimulating Tax Cuts Less Likely I think the reason that the dollar was weaker is the narrative is that since the Republicans no longer have control of the House of Representatives that it is less likely that we will get more tax cuts - at least the tax cuts that would be stimulative to the economy.  Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

RATE AND REVIEW this podcast on Facebook. https://www.facebook.com/PeterSchiff/reviews/ An Advanced Auction on the Sale of Stolen Goods Tomorrow is Election Day, or as H.L. Mencken once described the process, "An advanced auction on the sale of stolen goods".  My wife has been bugging me for some time to urge people who listen to my podcast to go out and vote on Election Day. I think she's prepared to blame me if there are any close races, either for the House, Senate or even for Governor that end up going to the Democrats - if I do not urge my listeners to vote against that wave, somehow it will be my fault. So I urge all of the people who listen to my podcasts to actually go out and vote this Tuesday on Election Day. Lesser of Two Evils In most cases, our votes are not even going to matter. In fact in most cases it is a matter of voting between the lesser of two evils. Even though the lesser of two evils is still evil, it is "lesser", and when it comes to evil, I guess lesser is better. In some cases there are actually some good candidates who are running. Sometimes, however, when good candidates actually get elected and get into the cesspool that is Washington, D.C., a lot of the values that led them into politics go out the window if they want to stay there. You  can have good intentions when you get to Washington, you can be principled, and you can say, "I'm going there to make the country a better place" but ultimately once you get there, everything changes. Politics Ahead of Principle In fact, when it comes to elections, and politics, the worst candidate usually wins.  If you are a candidate or an elected official, and you are making decisions that are economically sound, and that are in the best interest of the nation or your constituency, and if your opponent is making decisions based on politics, which are likely to result in a larger number of votes, Which decisions are likely to land me money from special interests?  If you're campaigning on principle, and your opponent is a practical politician, who's going to win? Even if you win a few elections, you're eventually going to lose. And the politicians who are i office the longest, are most successful at putting politics ahead of principle.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Rate and Review This Podcast on iTunes https://www.branddrivendigital.com/how-to-rate-and-review-a-podcast-in-itunes/ Futures Rallied after Drop on Apple News I want to get to the nonfarm payroll number. This is the big number, and, maybe, because the initial number was good, the market rallied. Although, I think the real reason that the market rallied in the morning is because we had a big rally in Asia last night. There were some rumors that there would be some type of trade deal between China and the United States, and when that rumor came out, everybody bid up these Asian stocks.  So the U.S. stock market, U.S. futures got bid up.  So initially U.S. futures were way down on the Apple news, but then, when this rumors came out about a trade deal, then the markets rallied. Hopes for Trade Deal with China Part of the reason that people wanted to believe that there might be a trade deal is because everybody knows the election is coming up on Tuesday, and maybe the President is looking to do something between now and then in order to: a) make the market rally, but b) be able to claim victory.  Like" aha! another deal like the USMCA - I got rid of NAFTA, and we have this new deal which is basically the same deal we had before, just with a different name, but he's able to pretend that he kept some kind of promise and now we've got a great deal,  Whereas the old NAFTA was the worse deal in the history of deals, the one that he's got, which is virtually identical, is the best deal in the history of deals. No Deal I thought maybe he would do something similar to that with China.  Come up with some ridiculous agreement that basically does nothing, then talk about how great it is… but apparently, not. Maybe they can still do that on Monday if they really want to wait to the last minute and come up with some kind of bogus deal… But people believe the rumors, but then this morning Larry Kudlow was on CNBC early in the morning before the open basically shooting that rumor down, saying there was no deal.    Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Rate and Review This Podcast on iTunes https://www.branddrivendigital.com/how-to-rate-and-review-a-podcast-in-itunes/ The Bulls Had No Fear Today may be Halloween, but the Bulls had no fear. The U.S. stock markets closed higher today for the second consecutive day - the first time for the month of October. A lot of traders are probably happy that the month of October is over.  Despite the back to back rally, this is still the biggest decline in a month for NASDAQ since 2008. The Market Gave Back Gains Before Close In fact, the rally off of yesterday's lows, I think was better than 1100 points. We had this huge gain, and even though today, the Dow was up better than 200 points (241 points), it was up about 450 points going into the last hours. So we did give back a couple of hundred points of that gain, which, to me, looked pretty weak. The NASDAQ had a 2% higher close; it was up 144 points.  But you look at the Russell 2000 - much smaller gain there. That index up just a third of 1%. The Dow transports, they were barely positive. Not even 2 tenths of 1 percent - a 15 point rise in the Dow Transports. Bear Market Correction Nonetheless, all the Bulls were out in force on the financial networks claiming that the correction is over.  Everybody was confident that the lows are in; that this big back to back rally is proof that you'd better buy now, otherwise you're going to miss the rally, and this is a typical correction, and now it has run its course. You know what?  If this really was the "end of the correction", most likely, there wouldn't be so many people so confident that it was over.  You'd have a lot more fear, especially on a Halloween.  The fact that there is no fear, to me, shows that it is more likely that this is not the end of the correction but the beginning of the bear market.  And that this rally is the correction. In bull markets, the market going down is a correction, because the trend is still positive. In a bear market, it's the opposite: the rallies are the correction.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Rate and Review This Podcast on iTunes Dow Swings More Than 900 Points Well we didn't have a Black Monday today, but we did have a pretty big selloff, especially if you measure the decline from the early morning pop to the late afternoon drop.  I think it was better than a 900 point selloff.  Earlier this morning the Dow Jones was up about 350 points, and I think halfway through the final hour, we were down as much as 560 points.  Now, we managed to recoup a good chunk of those late day losses in the final half hour, with the Dow down just 245 points. Just over 1%. The NASDAQ trimmed its loss to 116 points - 1.63%.  Of course, all the analysts are focusing on the fact that we didn't close on the lows!  "Hey, it's strong; look, we had a huge rally, impressive rally off the lows!" A Downside Reversal There was nothing impressive about that rally. This actually was a downside reversal. Remember we were all talking last week about the upside reversal that wasn't?  When the market was way down, and then it only closed a little bit down? That's not a reversal. Today was a reversal.  We were way up, and we closed way down. That is a real downside reversal, and that's far more significant than the meaningless, fictitious reversal that we had last week. Warning Signs Ignored Look at some of these individual stocks: Boeing, last week, which was one of the only Dow stocks that actually had a good day - remember it had better than expected earnings, and Boeing went up?  It was down almost over 7% today - Boeing getting killed.  IBM, though, a much bigger deal: down 4%.  A new 52-week low - multi-year low. This should have been a warning sign right out of the gate. It's kind of amazing that people ignored the news that came out over the weekend on IBM and they bought the market anyway. Red Hat Hail Mary IBM announced that it was buying a company called, Red Hat, and it's an all cash deal.  They are way over-paying for this company. Now IBM is the poster child for stock buybacks. And the fact that they are throwing this Hail Mary by over-paying for this company really shows you that time is running out.    Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

RATE AND REVIEW this podcast on Facebook. https://www.facebook.com/PeterSchiff/reviews/ Look Carefully at the Price Index The GDP number came out yesterday; 3/5% did slightly beat the consensus of 3.3%, but remember, for a while the Atlanta Fed was looking for a print in the 4's.  But the New York Fed was at 2.2%, so the print was much higher than what the  New York Fed was looking for.  But if you look at the internals, the biggest reason that we got 3.5% was because of the price index - the "deflator". Last quarter, when we had 4.2%, the government said that prices rose at an annualized rate of 3%. But in Q3, they said that prices only rose at an annualized rate of 1.7%. Calling B.S. on that Number Now I call B.S. on that number. I don't think we had that significant a slowdown in the annualized rate of inflation between the second quarter of the year and the third quarter of the year. If the 3% inflation rate had held steady, then Q2 GDP would have been just 2.2%. So, obviously not nearly as good a headline as 3.5%.  We'll see if they revise this thing down after the election.  Obviously the Republicans can still campaign on 3.5% even if it turns out that 3.5% was an over-estimate. Largest Trade Deficit in History I think new data is going to come out - particularly on trade.  Donald Trump is out there again bragging about how we're winning the trade war.  I talked about that.  That was the topic of my last podcast because we just printed the worse Merchandise Trade Deficit on a monthly basis in U.S. history. Trade Deficit Amounted to the Largest Subtraction from GDP in 33 Years The trade deficit was so large in the third quarter that it subtracted 1.78 percentage points from the GDP number. That is the largest subtraction from GDP that we have had from trade during a quarter in 33 years.  What happens, when you calculate GDP, you take government spending, you take consumer spending and business spending and then you add in your trade surplus or you subtract out your trade deficit. Now, since we never have a trade surplus, trade is always a net subtraction from the GDP.  Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

RATE AND REVIEW this podcast on Facebook. https://www.facebook.com/PeterSchiff/reviews/ Merchandise Trade Deficit Largest Trade Deficit on Record Today's rally had to overlook the bad news that came out today. I was watching CNBC this morning just before the news was announced and the anchor said, "We've got a lot of news coming out at 8:30 and I am going to go over the news items in order of importance. The first news item was the Durable Goods numbers (+0.8%), and then they went over the weekly jobless claims (202,000) and wholesale inventories (+1%). That was it. That was all they reported.  They left out the most important number that came out at 8:30, which was the Merchandise Trade Deficit ($26 billion - largest trade deficit on record). But as far as CNBC is concerned, the trade deficit is immaterial. It doesn't even matter what the trade deficit is. In a way, they are right. because the markets couldn't give a damn. People Don't Recognize that the Trade Deficit is a Bad Thing At one point in time, the trade deficit was the most important number that came out every month.  It was more important than the Non-Farm Payroll number. That's when people were smart enough to recognize that a trade deficit is actually a bad thing. But Donald Trump has made the trade deficit a big part of his Presidency. It was a big part of his campaign. You would think that maybe CNBC would consider the trade deficit important enough to even mention. If they were presenting the numbers in order of importance, at least mention it 4th, but they don't even mention it at all.  That's how unimportant the trade deficit is. Durable Goods Up Only Because of Defense Spending But the Durable Goods number that came out (+0.8%) was reported as a good number because it was a beat.  They were looking for -.5%. But the main reason that the headline beat was because of military orders - defense spending: aircraft.  But if you take all that stuff out and you just looked at core capital goods, they were looking at an increase of .5% and we got a decrease of .1%. So the only reason the number went up is because the U.S. government took on more debt to buy more military equipment.    Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

RATE AND REVIEW this podcast on Facebook. https://www.facebook.com/PeterSchiff/reviews/ Bearish Signal So much for yesterday's dead cat bounce.  All of the U.S. stock market averages came plunging down today, in fact they all closed below yesterday's lows. So even though we had those big rallies off the lows, today, we lost the entire gain and closed lower than yesterday's low point.  That is is the most bearish signal you can get. Yesterday's Short Covering Remember on yesterday's podcast, I was not impressed with yesterday's rally. I thought it was a typical "reversal Tuesday" rally that should be ignored. To me, it looked like a lot of short covering, particularly if you look at the type of stocks that were being bought.  They seemed to me that they were the stocks that had a lot of shorts, so the shorts saw a big gap down and decided to take an opportunity to cover. But, when you have a lot of shorts who cover, that's actually bearish, because during the next decline, they are no longer there to buy. That's why this next decline could be particularly vicious.  I don't think the decline is finished; as I said, I think it is just getting started, unless the Federal Reserve is going to come in and change the nature of the game, Biggest Single NASDAQ Decline since 2008 Financial Crisis The Dow was down over 600 points today - 608 points. That is a percentage decline of  2.41%.  Of course there were a lot of stocks that did a lot worse.  Earnings today from AT&T - that stock was down just over 8%.  I think there were also some worries concerning the slow growth of subscribers at DirecTV, a recent AT&T acquisition.  Also, UPS, came out with disappointing earnings today. The stock was down 5.5% today.  Boeing might be the only stock that was positive today, up 1.3% - a beat. The fact that this was the biggest single day decline in Nasdaq since the 2008 financial crisis means that today's drop is larger than any point drop that we had during the 2008 financial crisis. You have to go all the way back to the bursting of the dot com bubble.  Something big is happening when you see this kind of drop. The market technically couldn't be weaker.  Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

RATE AND REVIEW this podcast on Facebook. https://www.facebook.com/PeterSchiff/reviews/ A Big Constituency of Highly Indebted People The fact that you have created this big constituency of highly indebted young people - they're like indentured servants. The government now loans them the money and now they are in debt to the government for the rest of their lives. But now the government can say, "Vote for me and we'll let you off the hook!" You Don't Have to Repay Your Loan as Long as You Keep Re-Electing Me Or they might have some other program where they do not completely wipe out the debt; maybe if you work for government for a certain number of years - maybe they will try to craft the program in such a way to make sure that these young people constantly vote for whichever politician promises to keep the wolves at bay: "You don't have to repay your loan as long as you keep re-electing me." It is another group of bought voters. Just like Social Security. Why does Trump want to pander to Social Security?  Why does he want to say, "We're never going to cut Social Security."? He wants all the people who are on Social Security to vote for him, or to vote Republican. At Least the Democrats Say the Rich Are Going to Pay for It No one wants to take anything from anybody. Nobody wants to give anybody the bad news.  Trump wants to be all things to all people. Everybody gets everything; no one has to sacrifice.  No one has to pay. Everybody eats free lunch - no one has to cook it. At least the Democrats say the rich are going to pay for it.  Trump says nobody's going to pay for it. It's all going to magically appear because of this booming economy which isn't even booming. At least the Democrats' lie seems a little more believable. They are not saying the money's coming from nothing, it's coming from these rich people who are lucky enough to have all this money and we can just take this money from them - they're not going to miss it because they don't need it anyway, and somehow it's enough for everybody to have everything that they want.  Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Rate and Review This Podcast on iTunes Overwhelming Evidence of a Weakening Economy The Dow Jones was the only one of the major indexes to close the day higher.  The S&P was down slightly, we had larger declines in the Nasdaq and the Russell 2000.  More importantly than the movements that we've just seen on the day, or even the week, look at what's happened thus far during the month of October, which I had been warning on my podcast. It looked like there could be a weak October, given where we were in the market, given how ridiculous the sentiment was in the face of overwhelming evidence that the economy was weakening Russell 2000 Down 9.2% If you look at the numbers, the Dow Jones is down 3.8% so far on the month. That's the best performing of the averages. The S&P, down about 4.7% on the month, Nasdaq Composite down 7.4%; the transport down 8.3% and the Russell 2000 - 9.2% decline. Remember, the Russell 2000 is where everybody wanted to buy. Earlier last month the talk was that you needed to be in the Russell 2000 because the rest of the world was in trouble, you needed a safe haven from all the turmoil around the world, that the U.S was going to win the trade war, and of course, the companies that had the least vulnerabilities to the trade war were the domestic companies that weren't multinational and those are the companies that you would find in the Russell 2000. Small-company U.S. stocks - so people were piling in. Those are the stocks that have done the worst. Down 9.2% on the month. Gold, Gold Stocks Up; Bond Yields Continue to Rise While stocks were going down, gold was going up. Gold is up about 3% so far during the month of October.  Gold stocks doing even better - GDX and GDXJ each up about 8% so far on the month. Bond yields continue to rise; they were higher today; higher on the week; higher on the month and as bond yields are rising, the dollar is also rising, but ever so slightly. We're not seeing that much of a gain in the dollar. But ultimately, the dollar is going to turn around when people finally what should have been obvious all along: that the U.S. economy is not nearly as strong as is generally believed. It is certainly not as strong as the Federal Reserve is claiming. Markets Fall as Fed Shrinks Balance Sheet The FOMC minutes were out earlier  this week and once again, the Fed is displaying extreme confidence in the U.S. economy as it continues to maintain its stance that it will continue to raise interest rates; that it is going to continue with its plan to shrink its balance sheet.  Of course that is the real reason that the markets continue to fall.  The Fed continues to threaten the markets with higher interest rates. When You're in a Bear Market, You Don't Need an Excuse for the Market to Go Down Yesterday, we had a pretty big drop in the markets intra-day; the Dow surrendered some gains and a lot of the people in the media were trying to figure out what was to blame.  They were pointing to speeches that Larry Kudlow made where he was talking tough against China or Trump talking tough or even European Union getting tough with Italy - I forget all the various excuses. But, you know what? the market would have probably fallen even if none of those things had happened. When y0u're in a bear market, and I think there's a very good chance we're in a bear market, you don't need an excuse for the market to go down. The market just goes down.  Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Rate and Review This Podcast on iTunes Thanks to Listeners for 400 Episodes of The Peter Schiff Show Podcast For those of you who say that Peter Schiff does Podcasts when the Dow is down, Dow Jones was up 547 points today.  This is my 400th episode of the Peter Schiff Show Podcast. I want to take a moment to thank my audience - everybody who has been listening to the podcast.  Especially to the people who have listened to all 400 episodes.  By the way,  if you missed a few, they're all archived. Check out all the Archived Episodes of the Shows Some people have been listening for a lot longer.  I was doing a daily talk show for 3 years or so. I started it after my failed Senate campaign to continue to get my ideas out there.  But I eventually did not have enough hours in the day to commit to be at a mic for 2 hours each day doing a live show, even though I enjoyed it - we had a lot of guests and I took a lot of calls. Before I ran for Senate, I did a once a week call-in show, Wall Street Unspun. Some people who are listening to the podcast go all the way back to the Wall Street Unspun days. A Special thanks to the people who have listened all of these years. Please Take the Time to Rate and Review my Podcast Remember, if you have been listening to my podcasts, certainly if you've listened to all of them, do me a favor and rate the podcast on iTunes or whatever platform you use to access my podcast.  Rate the podcast, make comments about the podcast, put 5 stars down there. Market Up, But We May Still be in Bear Territory There is so much overwhelming evidence that the bull market is over, and that's what I want to focus on. The housing stocks had a rally today but the auto stocks are still very weak. The economic data that I've been seeing has been weak but nonetheless, as I said earlier, the Dow was up 547 points, that was 2.17%.  But the NASDAQ Composite was up 214 points - 2.89% on the day. The Russell 2000, which had been getting beaten up was up 43 points today - 2.82%. Gold Steady, Dollar Negative Most of the Day Gold was only off a couple of bucks.  It started the day higher, 5-6-7 dollars, but in the face of this tremendous rally, gold kind of lost its bid.  But it didn't really sell off. It was only down a little bit.  So gold stocks in general were down, but not much.  The dollar spent almost the entire day negative.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

JOIN PETER at the New Orleans Investment Conference https://neworleansconference.com/conference-schedule/ A Very Volatile and Technically Weak Trading Day for the Dow Here I am for the third day in a row doing a podcast. It's market volatility that has brought me to the mic yet again. The Dow Jones down 525 points; a very volatile and technically weak trading day for the Dow. The market opened down, we quickly sold off, a couple of hundred, but then we rallied back! We got positive.  I think we were up a hundred, maybe more, and then going into the last hour or near the last hour we sold off hard.  the Dow was down I think close to 700, I'm not sure exactly, but then, we got a rally. Not all the way back to unchanged, but then in the final 15 minutes of so the Dow rolled over once again to close just off the lows. Down 525 points. Over 2% down. Not as big a drop as yesterday's drop, but coming on the back of yesterday's drop, it adds up. Some of the Tech Stock Actually Rallied Today The transports, not down as much, another 1.5% added to yesterday's loss. NASDAQ - some of the tech stock actually rallied today, so that helped the NASDAQ; some were down, though. NASDAQ down 93 points, 1.25%.  Russell 2000 down 30 points. That was just under 2%. If the Stock Market Went down Enough, There Would Be a Bid in the Bond Market The Bond market was actually up today.  Finally we had a day where people were buying bonds.  But I said this was going to happen. Eventually, if the stock market went down enough, there would be a bid in the bond market. That's exactly what happened. If the stock market stops falling, then the bond market is going to resume its descent. This is the same dance that we were doing earlier in the year, that eventually came to an end, but we're back where we started from. So if we get stocks going up, then interest rates are going to go back up, which is going to scare the market. Now they're going to go back down, and so now people will buy bonds.  Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

JOIN PETER at the New Orleans Investment Conference https://neworleansconference.com/conference-schedule/ 831 Point Rout in the Dow Jones Industrial Average If you listened to Friday's podcast, I mentioned that I thought I would probably be doing a lot of podcasts this week. I did one yesterday, and I am doing another one today because my feeling about the stock market was confirmed today with an 831 point rout in the Dow Jones Industrial Average, down 3.15%. This is the biggest decline that the Dow has had since that 1000+ point drop that we had in February. I think it is maybe the third biggest down day ever, point-wise. Percentage-wise it's not even close. NASDAQ Down Over 4% The DJIA actually did a lot better than a lot of the other averages.  The Dow Jones transports were down just over 4%; 445 points.  the NASDAQ was down over 4% as well - 315 points. Weakness across the board in the stock market today.  And it's not just the homebuilders and the autos. I've been talking about those sectors as leading indicators and, yes, many of those stocks made new 52-week lows today as well. But they were not the worst performers on the day. Financials Helped Lead the Declines The financials were helping to lead the decline.  Again we have Morgan Stanley at a new 52-week low, down 3.3%. Goldman Sachs down 3.6%, a new 52-week low.  But really, the biggest losers on the day were the tech stocks. These have been the stand-outs. This is what has been holding up the market - the FAANG stocks, all of these technology infotech stocks - and a lot of people were actually describing them irrationally as a "safe havens".  I couldn't believe it when people were saying that tech stocks were the new "safe havens". When you hear stuff like that, you know you're close to the end. FAANG Stocks Selling in After-Hours Trading If you look at what some of these darlings did today, and I'm looking at the after-hours prices, too, because they're selling.  More selling is going on now, after the bell. But look at NVIDIA, down over 9%, Amazon down 7.3%, Netflix down 10% on the day. AMD down 11% - Twitter down almost 9%, Apple down 5.5%, Intel 4.5%, Cisco, 4.7%, Facebook down almost 5%. this is  basically one day plus an hour of aftermarket trading.  Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

JOIN PETER at the New Orleans Investment Conference https://neworleansconference.com/conference-schedule/ Democrat Women Screaming in Agony Brett Kavanaugh, over the weekend was confirmed by the Senate, and there were some Democrat women in the gallery watching the vote and they were just screaming in agony; that this was such a terrible thing. I don't think we've ever seen anything like that.  They had to have the Sargent at Arms constantly removing people during the vote. The vote passed 50-48, on party lines. These women were not screaming in pain because they think that a sexual predator is now on the Supreme Court, but apparently they think that Roe v. Wade will be overturned, and that abortions will be illegal in the U.S. This is all a bunch of nonsense. This is not going to happen. This is all much ado about nothing. Liberal Judges Who Make the Constitution Be Anything They Want It to Mean What it really all boils down to is that the Left wants a certain type of  judges on the Supreme Court. They want liberal judges who believe in big government and all these social programs. They want these judges on the court to have a loose view of the Constitution, that the Constitution means whatever you want it to mean. What the Republicans want is to appoint justices who will uphold the Constitution - NOT their political agendas. There's a reason for that. If you are a Conservative, you like the Constitution the way it is written. You like the law. If you are a Liberal,  you hate the Constitution. The Constitution is a roadblock to everything you want to accomplish. The Constitution Was Written to Limit the Power of Government Remember: the Constitution was written to limit the power of government. That's where the laws apply. The Constitution is not about individuals. The Constitution is a law that was meant to apply to the government. to limit the power of the Federal government. To a lesser extent the states, because the Constitution does prohibit the states from doing certain things, but whatever is not prohibited, the states are free to do unless they are barred by their individual constitutions. The Whole Principle Was to Have Weak Federal Government What the Constitution does do is that it gives the U.S. government specific powers that are very few and enumerated.  The Constitution says that if the Federal government doesn't have the power to do something, if it is not written in the Constitution that the government can do it, then they can't do it. The whole principle was to have weak Federal government and most of what governments do was on the state level. They didn't even want big government at the state level. Most of what the Federal government would do was in war time. A Small Government Can't Give People Free Stuff So if you are a Conservative and you believe in limited government, well then you like the Constitution. But if you are a Democrat or a "Liberal", you want to use the government to right wrongs of society. You want it to even things out, to redistribute wealth, to provide a social safety net, if you believe in giving people free stuff (free education, healthcare). A small government can't give people free stuff. If you believe in Social Security and Medicare and Obamacare and the minimum wage, all that stuff is unconstitutional.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

RATE AND REVIEW this podcast on Facebook. https://www.facebook.com/PeterSchiff/reviews/ The Catalyst is Rising Interest Rates October is just one week old and the carnage on Wall Street has already begun. I wonder if the October complacency is beginning to be shaken with the down move that we see.  Now, the Dow Jones is not down very much; in fact, it barely fell on the week; but the S&P was down about 1%.  But the NASDAQ was down more than 3% on the week. The catalyst is rising interest rates, which of course, the markets have been ignoring up until Wednesday afternoon, when all of a sudden somebody started to worry about the markets. A Weak Thursday and Friday Led to 1987 Black Monday The big declines happened on Thursday and then again today. The declines are not really big; not by the standards of an October crash, but we still have several weeks left for a big down move in October.  We had a weak Friday, a weak Thursday - that's exactly what we had in October of 1987, which led to Black Monday. Economy Far More Vulnerable to a Rate Shock Remember, the backdrop there was rising interest rates. We have interest rates rising now, of course they're not nearly as high as they were back then.  But percentage-wise, this is probably even higher, given where we're starting from. Of course, the economy is much more highly leveraged now than it was in 1987 and it's actually far more vulnerable to a rate shock now, than it was then.  Of course, back then, people were worried about rising trade deficits - they're even bigger now than they were back then. Investors Not Smart Enough to Worry About Trade In fact, we got the trade deficit out today for August. Another jump following the jump we had in July.  I think it was the biggest increase in 6 months.  Imports are rising, exports are falling.  It's bad news on trade. People were worried about trade back in 1987.  They're not smart enough to worry about it now, but they should.  The trade deficit is probably more important today than it was back then.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

JOIN PETER at the New Orleans Investment Conference https://neworleansconference.com/conference-schedule/ NAFTA was the Worst Deal in World History? I want to talk about Donald Trump's new trade deal. When Donald Trump was running for President, he said that NAFTA (North America Free Trade Agreement) was the worst trade deal ever negotiated ever by anyone in world history. It wasn't just the worst trade deal that America got into, it was the worst trade deal that anybody ever got into. I don't know how many trade deals Donald Trump actually studied, and whether he compared them to NAFTA to know that NAFTA was worse than any other deal that had ever been negotiated, but that was his claim. In fact, even in the ceremony where he took credit for the new deal that he negotiated he repeated that NAFTA was the worst deal ever negotiated. We Went from a Good Name to a Lousy Name Then he unveiled his deal, which he now calls the greatest deal ever negotiated.  So we went from the worst deal in the history of deals to the best deal in the history of deals. The problem is, it is basically the same deal! The only thing that has really changed is the name. We went from a good name to a lousy name, and the funny thing about it is Donald Trump is claiming that the name is better. The old name was NAFTA. The new name is USMCA. Us-ma-ca! Us-ma-ca? What kind of name is that? We basically went from a nice name to a ridiculous name. NAFTA Re-Branded with a Worse Name But the bottom line is that's probably the most substantive difference between the two deals.  Pretty much, it is the same deal. Yet this is the greatest deal in history and the old deal was the worst deal ever. This is standard operating procedure for Donald Trump. Everything is great now that he is President. Donald Trump pretended everything was awful before he was elected, and now, he's made everything fantastic, but he hasn't done anything. You listen to Fox News, they're talking about this thing like it is the greatest thing since sliced bread. It is NAFTA re-branded with a worse name.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

JOIN PETER at the New Orleans Investment Conference https://neworleansconference.com/conference-schedule/ Ominous October Today was the end of the month of September; it's also the end of the third quarter we are now beginning the final quarter of the year.  When we come back to trading next week, we will be in the month of October, and as I mentioned on my last podcast, we have had some substantial stock market declines in October, obviously not every October has a big drop, in fact most of the Octobers don't, but some of the most notable declines have occurred in the month of October, including the crash of 1987 and the crash of 1929. You'd Think There Would Be More Concern But given that our valuations are probably higher now than they were at those prior peaks, you would think that there would be more concern right now about the possibility of another October surprise in the way of a major decline in the stock market.  But the stock market finished the day positive - on the week it was a mixed picture.  The Dow Jones was down a bit and the NASDAQ was up on a week that the Federal Reserve did, in fact, raise interest rates yet again, as expected. Now we're at 2-2.25%. Italy's Economy Putting Pressure on the Euro The yield, though, on the long bond actually went down, in fact, it was down a little bit again today (Buy the rumor sell the fact). The dollar continued to rise and I thought that maybe we would have seen a dollar sell-off following the rate hike. But I think the reason is because of the weakness in the euro, the result of what's going on in Italy. The Italian market is under a lot of pressure because the Italian government is running deficits that exceed 2% deficit guideline imposed by the Eurozone.  I think that Italy's proposed new budget deficit is 2.4% of Italian GDP. This puts pressure on Italy which is also putting pressure on the euro. Our Debt to GDP Is Twice That of Italy It's interesting that if America tried to get into the EU, we couldn't because out debt to GDP is about 5% and that's now. It will soar well over 10% in the next recession. Our debt is twice as high relative to our GDP as Italy's. If we keep running trade deficits like the trade deficit that we printed this month, we are going to be having a serious crisis in the dollar. It was bad trade deficits and concerns about the dollar was one of the biggest reasons we had the 1987 stock market crash.  Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Eighth Interest Rate Hike As expected, the Federal Reserve raised interest rates for the eighth time, today. The rate is now 2 to 2.25 percent, so I guess the midpoint is 2.125%.  The move was highly anticipated, of course, even I expected the Fed to raise rates.  At this point I had been expecting that for some time ever since the Fed first began raising interest rates it became apparent that they would continue to move rates higher. "Accommodative" is Out The only thing that was potentially significant about this rate hike was the removal of the word "accommodative" by the Fed in their official statement to describe the current state of monetary policy.  I initially thought that that was a significant removal of the word.  Obviously, the Federal Reserve thinks very carefully about the written statements, so if they chose to remove a word, that was there, and they know that people parse through these words with a microscope.  The fact that the word was missing, obviously by intention - it wasn't just an accident - that they're trying to send a message. Maybe Neutral? What I first thought the message was, and I still believe that was in fact the message (even if the Fed is trying to backpedal), but that the Federal Reserve views a 2% as neither accommodative nor restrictive.  Maybe neutral. The Fed now believes that rates are high enough that they would no longer be described as accommodative. Interest Still Below Inflation: Negative Rates Meanwhile, rates are at 2%. Two percent in my mind is still a highly accommodative monetary policy, especially when the annual rate of inflation, even the way the government measures it, is above 2%. That means you still have negative rates of interest. How can you describe negative real rates as anything but accommodative? Powell:  "Don't Read Anything Into The Omission of Accommodative" Powell was specifically asked about the removal of the word accommodative from the statement during the Q&A period that followed the official announcement.  Basically, what Powell said was, "Don't read anything into the removal of that word".Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

JOIN PETER at the New Orleans Investment Conference https://neworleansconference.com/conference-schedule/ Divided Government is Good? If the Democrats get control of Congress, which is a likely occurrence, what I'm hearing now is that this is bullish for the stock market! The stock market bulls are saying that if we have divided government that this is historically positive for the markets.  So even if the Republicans lose control of the House, and maybe even the Senate, it's OK, because it's divided government and that is good. Hoping for More Deregulation This is a bunch of nonsense. Has divided government historically been a positive? I think so, in that when you have a divided government you are less likely to make progress in legislation and since most legislation is harmful, the less legislation you get is better. But in the situation we have now, the hope is that we will have deregulation. That the progress that Trump will make will be in removing regulation.  Obviously if the Democrats take control of Congress, if you were hoping for more deregulation then your divided government will put a stop to that. So if divided government keeps government from getting smaller then it is not a good thing. If divided government stops the government from getting bigger, then maybe you could say it is positive. Building an Entire Stock Market Rally on Trump's Agenda But if you have built an entire stock market rally off of the supposed success of Donald Trump and his agenda, and his ability to get his agenda through Congress, that ability is going to be substantially curtailed, if not completely eliminated if the Democrats control Congress. Nothing that Trump wants to do will get through Congress so if you've been betting that it would, then the Republicans losing control of Congress is definitely a bad thing. Not The Contract with America This is not Newt Gingrich and The Contract with America, when Republican control of Congress forced Bill Clinton to move to the right and maybe stopped some of his big government agenda that would have gotten through a Democratic Congress.  When you had the Republican Congress putting a brake on Clinton's agenda, moving the nation more to the center, yes, that was a positive for the markets. We Don't Want to Even Fathom a Negative Influence on the Stock Market But why would losing a business-friendly Republican Congress to the Democrats, to Socialist Democrats, why is that bullish for stocks? How could you possibly think that is bullish for stocks if you think what we have now is bullish, and we lose a chunk of that, that just shows you that it doesn't matter what happens, these analysts are always going to say it's bullish. No matter what happens, it's bullish for stocks, because stocks are going up.  We don't want to even fathom the possibility that anything happening would be negative for stocks.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

JOIN PETER at the New Orleans Investment Conference https://neworleansconference.com/conference-schedule/ Illusion will be Replaced with Harsh Reality This is dangerous stuff.  This is the same thing thing that was being said when George Bush was President. Just because you're a Republican you don't have to claim that anything that was done by another Republican is great, in order to make the Democrats look bad. Ultimately that comes back and bites you because you loose credibility when the economy turns down. When it turns out that it was just a bubble, it was just an illusion, and when the illusion is replaced with harsh reality, you've got nothing and it makes it easier for the other side to scapegoat Capitalism for the problems and to hold out more government as the solution. The Trump Tariff Put One of the more ridiculous ideas that are floating around now is the existence of the so-called "Trump Tariff Put". I've heard a lot of talk about that and basically, it goes like this: Trump is very concerned about the stock market; yes, he is threatening these tariffs - we have additional tariffs.  If the tariffs actually prove to be harmful to the economy or to the stock market or to both, Trump can simply soften his stance, or maybe just surrender in the trade war. Just give up on the tariffs and the stock market will come roaring back. If the stock market is falling because of the tariffs and then we take the tariffs away, there's no reason the stock market won't just rally back up. So in other words, there's this put. It' s heads, the market wins, tails nobody loses. Even If the Market Goes Down, You're Going to Get Bailed Out As long as the tariffs aren't doing any damage, the markets keep going up, but if it turns out that the tariffs do damage, then they get rid of them, and the market resumes, even if it temporarily went down. So that is the Trump put, just like the Greenspan put, which became the Bernanke put, the Yellen put (whether or not there's a Powell put...).  The idea was, "Hey, if the market ever falls, the Federal Reserve will slash rates to make it go back up again. So you can't lose, even if the market goes down, you're going to get bailed out - whether by the Federal Reserve or by Donald Trump. If You're Looking to Invent Another Reason to Be Bullish and Not to Be Worried… I think this type of attitude is more just wishful thinking.  It's the kind of attitude that permeates a mania, a bubble. It's the fearless, "Hey if you're looking to invent another reason to be bullish and not to be worried…" If this stock market really starts to fall, it's not going to matter if we call off the tariffs. If the market is falling, chances are it is falling not simply because of the tariffs. The tariffs might be one element that is a problem for the markets, but it may simply be one of a number, and just getting rid of the tariffs will not be enough to turn around a bear market in stocks, which is long overdue.  Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

RATE AND REVIEW this podcast on Facebook https://www.facebook.com/PeterSchiff/reviews/ Sacrificed on the Altar of Political Correctness I want to spend the rest of this podcast talking about politics; in particular, what's going on with Brett Kavanaugh and his fading chances of sitting on the Supreme Court.  It appears that he may be sacrificed on the altar of political correctness. I also blame the Republicans for allowing this to happen - to have fallen into this trap; not just with Kavanaugh. No Sense of Proportion This has been slowly building, the camel's nose under the tent, and once the Democrats play this card - and this is not the racist card this is the rape card, the violence against women card. there's a zero tolerance now.  You can't even create the appearance that one is somehow tolerant of any kind of sexual abuse against women. There is no sense of proportion. Allegation About a 35-Year Old Event There was an allegation that became more significant 2 days ago when a previously unnamed woman who claimed that BrettKavanaugh assaulted her when they were in high school.  Now, of course, Kavanaugh is 53 years old now, so this is over 35 years ago. There Was a Lot of Alcohol at This Party Kavanaugh denied the initial allegation. Initially, the identity of the woman was unknown, as was the nature of the "sexual assault".  So Kavanaugh denied it. Now we actually have a name: Christine Blasey Ford, 51, a professor of Psychology, a registered Democrat. She has come forward now with the details of the encounter and the lack of details, because much of it she does not recall. After all, it happened 35 years ago, and according to the accuser, there was a lot of alcohol at this party.  She says that Kavanaugh was drunk, so she was probably drunk herself. I don't know if she has admitted to being drunk - there was alcohol at the party and the boys were drinking it.  It stands to reason that she probably had some alcohol herself.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

RATE AND REVIEW this podcast on Facebook https://www.facebook.com/PeterSchiff/reviews/ Making the Rich Pay Julia Salazar, another Democratic Socialist defeated Martin Dilan in the NY Senate primary.  The only reference to taxes on her website was to "make the rich pay their fair share".  That's it.  Nothing about what specifically she wants to raise, by how much she wants to raise it and how much money is going to come it.  This is going to be provided, that is going to be provided, and the people vote for her! This is how dumb the electorate has become. Shift to Democratic Socialism This is what I have been warning about on this podcast.  This shift in the political spectrum. The Democrats are moving to the left.  Democratic incumbents are going to be replaced by Socialists or will have to openly embrace Socialism themselves in order to maintain their seats. This is very dangerous, because when it does hit the fan, and it should hit the fan before the next elections a Democrat is going to be the next President, and the Democrats are going to control Congress. It's not going to be the Democratic party of Bill Clinton or even Barack Obama. It will be the Democratic party of Bernie Sanders. Sovereign Debt Crisis and Dollar Crisis We're going back to the anniversary of the Financial Crisis and the collapse of Lehman Brothers, and the next crisis, which will be a sovereign debt crisis and a dollar crisis.  It's going to be much much worse.  Bailouts are not going to work; stimulus is not going to work. Injecting Stimulus Directly into the Rears of the Democratic Voters But they're not going to try the same type of stimulus. They're not going to talk about injecting monetary heroin into the banking system to create a wealth effect. They're going to inject the stimulus right into the rear ends of the Democratic voters. They're going to want to give the money directly to the people, whether it is through some kind of basic income program or government make-work or forgiving student loans.  Whatever they do, it will be about showering money that the Fed creates out of thin air and putting it directly in the pockets of the voters. That is just pure unadulterated inflation.  Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

CHECK OUT Buying Bitcoin is Like Buying Air https://youtu.be/XmMQAuO62gI Another Round of Tax Cuts Now the Republicans are talking about another round of tax cuts. Just in time for the November election. Whether or not these tax cuts actually get passed is anyone's guess, but it will be an issue on the campaign trail, either because they delivered the tax cut or because the only thing standing in the way of a tax cut is the Democrats. Remember the individual tax cuts were passed the last time are temporary - they phase out. The corporate rates do not phase out. Of course, all tax cuts are temporary because any Congress can raise taxes any time it wants, so it's just semantics. Temporary Tax Cuts Were a Lie The reason they had to make the individual tax cuts temporary was so that they can pretend that the increase in the budget deficits was not going to be as high as everybody knew that it was. The presumption was that Congress would vote to extend them.  Here we are, not even a year has gone by and the Republicans already want to come back and make them permanent, which shows that the temporary tax cuts were a lie. Government Revenues up 1% - Government Spending Up 7% The August budget deficit was $211 billion - nearly double the deficit that we had in the same month last year. In the first 8 months of the year, the deficit is $895 billion. This is a trillion dollar deficit during a supposedly booming economy. If we can't generate surpluses in a booming economy, imagine the enormity of the deficits when the economy is not booming,. Imagine how bad the deficits will be when the economy is actually in a recession. In this most recent year, the deficit is $222 billion higher than the previous year and government spending is up 7%, yet revenues only rose 1%. So it is not closing the gap, not by a long shot. Too Big to Bail The U.S. government is too big to bail - not too big to fail - too big to bail. Of course the government technically does not need a bailout; it just prints more money. Of course, that's the problem. They will print money that nobody wants and the currency is going to collapse. Saying Yes to Socialism Says No to Prosperity Recently on the Bill Maher show Jim Carrey said, "Socialism is great, so why don't the Democrats just embrace it?  Say yes to Socialism, already. Now they can come out and openly declare that they are Socialists now because everybody likes it.  When you say yes to Socialism, you're saying no to some very important things, like individual liberty, freedom, prosperity. Voters don't know that.  They just think Socialism is a bunch of free stuff, and they get more free stuff under Socialism than under Capitalism. People want stuff.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

CHECK OUT Buying Bitcoin is Like Buying Air https://youtu.be/XmMQAuO62gI GM Hit New Low for the Year If you want to look at some of the signals you're getting from the markets, look at the automobile stocks: General Motors and Ford, which are basically the only 2 automobile companies we have left. (Chrysler is now owned by Fiat.) They both hit 52-week lows today and they're both in bear markets. General Motors closed at $33.91 - a new low for the year.  The stock was as high as $46.76 in June. The stock is down almost 30% in the last couple of months. It's a bear market. Ford at a Six-Year Low The story at Ford is even worse. Ford was up at around $12 a couple of months ago.  It is down to $9.27. If you look at its high - it was at $16 in September of 2014.  Ford is down to where it was the summer of 2012 - 6 years ago. It's at a 6-year low.  If we go any lower we'll be at an . 8-year low. Two Auto Companies Solidly in Bear Market So you've got our 2 automobile companies solidly in bear market territory, making new lows. These are vital parts of the economy. There are many industries that feed off these companies, the aftermarket industries.  These are the good jobs, the high paying jobs that Trump promised to bring back.  Remember he was really campaigning in Detroit and other places where they make cars. These companies are hitting multi-year lows. Tariffs Aren't Helping Auto Industry So the tariffs aren't working. The tax cuts aren't working. The auto companies are going down.  Remember, stocks are forward looking, so the stocks are basically saying that there is a big slowdown coming in the automobile sector. Profits are not going to be there. Tax cuts are not going to be very valuable if there aren't any profits. Industry Slowdown in Home Building Also look at what is happening with the home building companies. All these stocks getting killed - some down over 5% today alone. They are pretty much all in bear market territory. So now the homebuilders are also saying, "The industry is going to slow down." Autos and Housing Are Not Booming Those are 2 very important sectors of the economy: housing and autos. If they are on the verge of recession.  If the stocks in those sectors are forecasting recession, how is it possible that the U.S. economy is experiencing a "historic boom"? "It's booming like it's never boomed before!" Yet autos and housing are not only not part of the boom, they're actually having a bust. Riddle me that, Batman. How is it that the economy is so strong when these two key sectors are so weak? Interest Rates and Inflation Why are these sectors so weak?  Well one reason, of course, is rising interest rates.  Everybody believes that interest rates are going to keep rising which means more nails in the coffin of the auto sector and the housing sector. And of course, both housing and autos are being hit by inflation because of raw material costs.  It's more expensive to build cars - it's even more expensive to build homes. Tariffs Attacking Our Vendors and Bankers The tariffs are getting higher.  Trump was out today saying he is going to put another $240 billion of tariffs on Chinese products in addition to the $200 billion we already have queued up and yesterday he was talking about going after Japan and we're the ones who have the most to lose by picking all these fights with all the countries that are supplying us the goods we need and loaning us all the money we need.  We're basically attacking our vendors and our bankers and somehow think this is a good strategy. Big Leading Indicators Say Something is Wrong So you can't have a recession in autos and housing simultaneously and somehow the rest of the U.S. economy is impervious.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Another Bear Market Before the Election The odds are that we are going to have another bear market and we're going to have another recession and the odds are that both are going to start before the next election. What are the odds that Trump can be re-elected if we are in a recession and in a bear market? The only thing that Trump's got going for himself is to talk about how great the economy is, and how high the stock market is. You take that out and what does he have left? Trump Claims Most Accomplishments Than any other President in History I was listening to a press conference with the President today, and one of the false claims he made is that he said, "I've accomplished more in the first two years of office than any President in history." Now, I don't know where he is getting this; what exactly has he accomplished as compared to other Presidents' accomplishments.  I'll agree, most modern Presidents, to the extent that they accomplish, they accomplish larger government. We Started with Perfect Government - Small! We started from a perfect place. We started with limited government, and most of what Presidents have accomplished was to accomplish more government by allowing more legislation to be passed, making government bigger and restricting individual liberty. From that perspective, I like a President who accomplishes nothing.  We started with maximum liberty and minimal government.  What I want to accomplish is maintaining minimal government. Shrink Government and Enable Private Sector to be Great Again When Donald Trump talked about "Making America Great Again", if he actually wanted to do it, restoring our greatness means shrinking government and enabling the private sector to be great again by removing all the burdens that have been placed on it.  Has Trump actually done more, good or bad, than any other President?  I doubt it. Who Saved Social Security? But one of the things that Trump claimed credit for, is that he said he "saved Social Security and Medicare". He said the Democrats wanted to ruin it or get rid of it, and I saved it.  What Democrat wants to get rid of Social Security?Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

RATE AND REVIEW this podcast https://www.facebook.com/PeterSchiff/reviews/ What About Employers' Day? Labor Day is coming up on Monday it it annoys me that we just have a Labor Day and we don't have an Entrepreneur Day.  We don't have a day to celebrate the employer. Why is that? The entrepreneurs are the unsung heroes of the American economy. I'm not saying that the workers don't make a contribution, but the assumption, when you talk about workers is that the boss doesn't work.  If you look at small businesses, in general, the owner of the business works harder that anybody else. They're usually the first one there and the last one to leave. Employers Don't All Get the Luxury of a Paycheck When someone owns a business, they don't have the luxury of collecting a paycheck.  They get paid only if there is a profit. They get paid only after all the workers get paid, the landlord gets a check, and if they borrowed money they have to pay interest to the creditor, they have to buy all the equipment, they have to pay all the bills.  Sometimes businesses lose money for years while the owner works 18-hour days.  So that's who we should be celebrating, but we don't do that. Politicians Know Where the Votes Are Why is that? Why do politicians try to get the votes of the employees? That's where all the votes are. Most people are employees. Few people have the know-how to run a business. Try to make a business run, try to organize all the pieces and get it to work, that's a very difficult thing to do, and that's why most people don't even try. Everybody gets a day off with pay, which is great for the worker, but the money to pay everybody not to work comes from the boss. Thank Your Boss But want to wish everybody a happy Labor Day, especially all you employers out there.  If you have a boss, thank him or her. Express thanks for all the hard work it takes to make sure your paycheck doesn't bounce.  Anybody can sign the back of a paycheck.  It is much harder to sign the front of a paycheck and to make sure that there is money in the bank so that those paychecks don't bounce.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

RATE AND REVIEW this podcast on Facebook https://www.facebook.com/PeterSchiff/reviews/ Fed Responsible for Most Recent Move Up I think what's really responsible for this most recent move up is the Fed comments.  Now maybe Trump can take credit for those, maybe President Trump was able to get Jerome Powell's mind right after all, when it comes to rate hikes, although, if you look at the coverage from Jackson Hole, most people think that Powell stood strong and was resisting the calls from Trump to go easy on rate hikes and he was standing by the Fed's commitment to raising rates.  But that was not really what was said. Not just by Powell, but by other Fed officials who were there who were giving interviews from Jackson Hole. 2% Today Is Not the Same Thing as 2% in the 1990's To me it was clear, and I mentioned this on my previous podcast about the Fed being willing to let the inflation genie out of the bottle, that the Fed is basically back-tracking on rate hikes that the markets may have anticipated for 2019, by talking about how interest rates are closer to normal now.  That 2% today is not the same thing as 2% in the 1990's, not wanting to invert the yield curve, waiting for the whites of inflation's eyes before they actually come out blasting by doing everything that it takes. Pound of Cure Beats an Ounce of Prevention I think that the Fed has basically said we are going to sit back, we're not going to be pre-emptive on inflation fighting, we don't think inflation is going to break out, but if we're wrong, then we'll do whatever it takes. Basically the Fed's new attitude is, "Why take an ounce of prevention when you can always use a pound of cure?" Because when it comes to inflation, that ounce of prevention, given how frail the economy actually is and what a big bubble we have, that ounce of prevention could be lethal so let's just forget about that.  Somehow we're going to be able to slam the economy with a pound of cure, we're going to be able to get aggressive on fighting inflation if for some reason it ends up being much worse than we thought.  Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

RATE AND REVIEW this podcast on Facebook https://www.facebook.com/PeterSchiff/reviews/ Dovish Speech Given by Jerome Powell The catalyst for the rise in gold and the decline in the dollar, I believe, was the dovish speech given by Jerome Powell today in Jackson Hole. Whether or not the speech is perceived as dovishly as I believe it is, I think we're going to have to see if we are going to get some follow through in the dollar and in the gold market next week. It is critical to see how the markets follow through to today's actions. If I'm right, we could see a big move up in the price of gold next week and a big move down in the dollar. Hedge Funds Are Net Short Gold Remember we've got a lot of people who are short gold now for the first time since 2001, the hedge funds were net short gold and I think they could get caught in a losing trade and have to scramble to buy back the gold that they sold. Also, lots of people are now loaded up long the dollar, short the emerging market currencies.  But the impetus for this trade, the momentum, had to do with the bullish posture of the Fed and the anticipation that the Fed will continue to raise interest rates and shrink its balance sheet. Second-Guessing Assumptions But if what Jerome Powell said today causes traders to second guess those assumptions and maybe dial back their expectations for rate hikes - maybe not necessarily the 2 rate hikes that everybody believes are coming in the balance of 2018 - but potentially the idea that there may be no rate hikes at all coming in 2019, that 2018 may be the end of it. In fact, maybe, we won't even get the December rate hike.  I think to the extent the traders start to re-price the odds of future rate hikes this could be a big move in the dollar, a big move in gold and again, we have got to see what happens, because maybe this was a one day event… maybe traders are not going to read into Powells comments what I think he meant. But, given the reaction that we had today, I think there is a reasonable chance that that is exactly the way the markets are going to take it. We have so many people on the wrong side of this trade right now that it's a perfect time for the market to swing the other way.  Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

RATE AND REVIEW this podcast on Facebook. https://www.facebook.com/PeterSchiff/reviews/ Trump Suffers Huge Double Blow Yesterday, two key people - one the President's former campaign manager Paul Manafort was convicted of multiple counts of serious financial crimes, and later that day, Michael Cohen, the President's personal attorney, copped a plea to multiple financial crimes. So you have two key figures in Trump's campaign who are not criminals. Violation of Campaign Finance Laws Now, obviously, the President has not admitted to a crime, he has not been convicted of a crime, but still - guilt by association. The most problematic, at least thus far, is the fact that one of the crimes that Micheal Cohen pled guilty to had to do with violation of campaign finance laws. He made two large payments ($100,000+) to two women, one was a porn star and one was an ex-Playboy playmate. Both of these women claimed that they had had affairs with Donald Trump. In order to buy their silence, to pay them off, Donald Trump funneled some money, through Michael Cohen, to these two women. Trump's Original Story Doesn't Make Sense Of course, Donald Trump claims that he knew nothing about it - that Michael Cohen just decided on his own to make these payments and Donald Trump didn't even know about it. That was his original story until he changed his story and said he found out about it later. Although, they even have a tape recording of Donald Trump and Michael Cohen discussing how to make the payments before they were made. Guilt By Association Of course, Trump's version of the story doesn't make sense. But now Michael Cohen, as part of his plea, said that the payments that he made were made at the direction of the President. Donald Trump asked him to make the payments, he made the payments, and he has now pled guilty to the crime of making those payments. So if it was criminal for Michael Cohen to pay off these women the way he did, well then obviously the President conspired to commit that crime.  Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

RATE AND REVIEW this podcast on Facebook. https://www.facebook.com/PeterSchiff/reviews/ Strong Dollar Policy? There used to be a lot of talk about the so-called Strong Dollar Policy. We had the Strong Dollar Policy when Bill Clinton was President, George Bush; I guess when Barack Obama was President, as well.  I've talked about it, I've written about it in Crash Proof, How to Profit from the Coming Economic Collapse; I talked about it like it was the Loch Ness monster.  Everybody knows about it, everybody's heard about it but no one has actually seen it. We Like the Strong Dollar. A Strong Dollar is Good for America We didn't actually have an official policy that constituted the strong dollar policy.  It was simply talking about the strong dollar being in the national interest, and that was just the mantra that was repeated often by the Secretary of the Treasury or by the President. "We like the strong dollar. A strong dollar is good for America… and that pretty much constituted the policy. The Trend Was Your Friend But nonetheless, having the belief that there was some kind of hidden strong dollar policy helped to create confidence in the dollar, even in periods of time when the dollar was declining. Perhaps it would have declined even more had it not been for the belief that there was some kind of strong dollar policy. And of course, when the dollar was rising, the "strong dollar policy" really helped add fuel to the increase because after all, you were riding the policy.  So the dollar was going up and that was what the U.S. government wanted, so it was all good. The trend was your friend. Donald Trump's Weak Dollar Policy Well, it should be obvious that Donald Trump has a weak dollar policy, whether he wants to name it or not, that's the policy. Of course, the weak dollar policy will not involve actually doing anything, just as the strong dollar policy didn't involve doing anything, but I think the rhetoric will have the same impact in that when the dollar finally starts to fall, it will fall even faster when people think it's a deliberate policy.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

The Accountable Capitalism Act Elizabeth Warren unveiled her new idea in an op-ed in the Wall Street Journal.  It is her new bill, called the Accountable Capitalism Act.  Of course, I have said this before, there is no truth in advertising when it comes to legislation. Whenever Congress passes a bill, the name of the bill is generally the opposite of what the bill actually does. So if they pass a bill called, "Tax Simplification", that means that they just complicated the tax code. But nobody wants to vote for a bill that's called "Tax Complication", so you can't label it "Tax Complication" when that's what we're doing, so you label it Simplification so everybody will like it. This is All About Socialism That's what Elizabeth Warren is doing in her Accountable Capitalism Act.  This is not about Capitalism. This is about Socialism. The idea here is that Capitalism is not accountable, and so this act is going to hold Capitalism accountable. In reality, capitalism holds everybody accountable. Under a Capitalist system, everybody is accountable for their own actions.  If you screw up, then you have to suffer the consequences. If you make a mistake, it's on you.  If your business fails, there's not bail-out. Capitalism is the Ultimate in Accountability So Capitalism is the ultimate in accountability. It's fair and everybody is held accountable for their own decisions and their own actions.  What Elizabeth Warren wants to do is to take that accountability away.  She wants to have the government get in there and take away the accountability inherent in the Capitalist system. The Socialist Un-Accountability Act Not only is the act mislabeled, it is actually the Socialist Un-Accountability Act. It wants to take people who would normally be accountable and make them unaccountable. It's all Socialism wrapped up in a Capitalist bow. What she wants to do is: * She wants to force corporations with over $1 billion in revenue, regardless of their profit, to appoint at least 40% of their board from the ranks of their workers * She wants to re-install the stakeholder accountability that existed until the 1980's Warren: Profits have Screwed Up the Country I read the op-ed and I listened to her interview with Kramer on CNBC and according to Elizabeth Warren's revisionist version of American History, corporations cared about their stakeholders, meaning their employees, customers, communities up until the 1980's. Then all of a sudden, in the 1980's, everything changed. All of a sudden, it was all about profits. It was all about maximizing shareholder value.  And that's what screwed up the country.,Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

RATE AND REVIEW this podcast wherever you listen. https://itunes.apple.com/us/podcast/the-peter-schiff-show-podcast/id404963432?mt=2&ls=1 Turkey's Current Account Deficit The "Turkey baste" continued on Monday, although Tuesday we did have a bit of a reversal, Tuesday bounce in the lira, rising about 7 percent or so, in today's trading.  But still, it is down considerably from where it was a few weeks - a few months ago. But I do believe that the financial media is exaggerating the problems that existed in Turkey prior to the crisis reaching the headlines.  Yes, Turkey has a current account deficit, but the current account deficit is not nearly as large as the media is making it out to be.  In fact, it is similar in size to the current account deficit that the United States is running, if you look it as a percentage of GDP. In fact, Turkey's trade deficit is a much smaller percentage of its GDP than is the American trade deficit. Dollar Strength Hurting Emerging Markets The problem in Turkey is twofold:  one is the strengthening dollar, which is putting pressure on all of the emerging markets' currencies and economies. It's just that Turkey was a weaker link in that chain, so Turkey is being disproportionately impacted by the outlook that the dollar is going to keep rising. This puts a lot of pressure on economies where there has been a lot of foreign investment. A lot of loans are in dollars.  A lot of the money that has been coming into the Turkish economy has been private investment, fueling capital investment within the Turkish economy. It 's not the government borrowing all this money; it's businesses borrowing money. The international community was willing to lend.  After all, interest rates were really low for a long period of time and so capital was chasing a higher yield and some of that capital went into emerging markets, including Turkey. But obviously, you have a lot of loans that are dollar denominated and that's one reason that a rising dollar is so bad for emerging market economies. Erdogan's Populist Policies Critical of High Interest Rates What really elevated the problem for Turkey was not simply that the currency was falling, but look at what President Erdogan was saying: he is a populist leader who is saying things that appeal to voters. He's also appealing to nationalism. Trying to make it "Turkey against the world". Pursuing policies that put Turkish interests first. He has been critical of the Central Bank raising interest rates.  He has been particularly critical of the whole concept of raising interest rates.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

RATE AND REVIEW this podcast wherever you listen. Turkey is the Epicenter of Emerging Market Concerns Right now, the epicenter of the concerns about the emerging markets is coming from Turkey. What is the problem with the Turkish lira?  Turkish President Erdogan is veering off into some very dangerous territory with his stance with the Central Bank of Turkey and now the political battle of egos that he is having with President Trump over the release of an American pastor who is imprisoned in Turkey. As a result of this, the President is now turning up the heat on Turkey with sanctions, which is compounding Turkey's problems.  Today was probably the biggest one day drop in the Turkish lira.  Today, the Turkish lira might have been down about 20% intra day. Trump Doubling Down on Tariffs with Turkey Throwing fuel on the fire, early in the morning, when the lira was already down 12%, Trump announced that he would be doubling the existing tariffs on Turkish steel and aluminum. Turkey has a trade surplus with the U.S. like just about everybody else.  Is this going to hurt Turkey?  A little bit. Obviously it hurts Americans more because now Turkish steel is that much more expensive. Speculative Frenzy Shorting the Turkish Lira All of this is adding fuel to the speculative frenzy to short the Turkish lira. I think you have a lot of hot speculative money that has been leaning down on that currency. It is basically fueling an even bigger problem.  They have high inflation, they have very high bond yields. The yields in Turkey up until recently, even though inflation was high, you had 400-500 basis points of positive bond yields. Turkish Economy Essentially Strong The Turkish economy has actually been quite strong over the years. As a result of that a lot of international money has been invested in Turkey. Foreign direct investment has been going into the Turkish economy, participating in the Turkish equity market, lenders have been loaning money.  Some of that debt of course, is dollar denominated and euro denominated which is the problem now, because if you are a company generating revenue in Turkish lira, if you have dollar or euro debt. Now a lot of people hedge; if your obligations are in a different currency, you would hedge that currency to the lira. But the weakness in the lira drives inflation even higher, because  as the lira loses value, you need more lira to buy stuff and as inflation goes higher, there is more pressure on the central bank to raise interest rates to try to fight that inflation. But higher rates also feed into inflation by increasing costs. Turkish Debt to GDP Much Lower than in the U.S. President Erdogan is putting pressure on the central bank not to raise interest rates high enough to crush all the speculators who are shorting the Turkish lira. What also should be done is they should dramatically reduce government spending in Turkey. Not that it was out of control to begin with, but they want to make sure they don't have deficits.  If you look at the debt to GDP in Turkey it is considerably lower than in the U.S. The U.S. Dollar is Not the Subject of a Run - Yet The U.S. is in far worse shape than in Turkey, in fact it's not even close.  But the difference is the U.S. dollar is not the subject of a run right now. But if you think about the predicament that Turkey is in, this is the same predicament that the U.S. is going to be in - we're just not there yet.  Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

RATE AND REVIEW This Podcast https://itunes.apple.com/us/podcast/the-peter-schiff-show-podcast/id404963432?mt=2&ls=1 Alex Jones  Banned Alex Jones was banned from iTunes, Facebook, YouTube - his entire YouTube Channel is gone! He had over a million subscribers.  The Alex Jones videos on my YouTube channel where I appeared as a guest are still up, but the ones on Alex's site are no longer there. What About the First Amendment? This raises a lot of very interesting and disturbing questions. First of all, you have a lot of people talking about censorship. What about the first amendment?  The most important thing to remember about freedom of speech is that all of that has to do with government. Government cannot infringe on your freedom of speech. This has nothing to do with a private business. So, Facebook or YouTube are private companies. I don't have a right to have a YouTube channel.  When you sign up for YouTube, they have the terms & conditions and you agree... YouTube doesn't charge me to have a YouTube channel; I don't have a right to demand one - it's private property. I can still do videos and get them out on this website and on other channels. I can listen to the Alex Jones Show podcast, even though it is not on iTunes. Banning an Opinion I don't think YouTube and Facebook taking Alex Jones off is a First Amendment issue, or is censorship.  It certainly is a double standard.  Why are Alex Jones' videos being taken down? Supposedly because it is hate speech or fake news. It is his opinion, and if you don't want to listen to it, don't. I don't think he is out there inciting violence.  There are actually sites on YouTube and Facebook that do advocate violence.  There are Communist YouTube channels.  Why is that allowed on YouTube? What is Communism?  That is where the government forcibly steals private property. Communism is a much bigger threat to the families in Newtown than Alex Jones denying that there was a shooting there. Intolerance for Any Opinion that Disagrees The Alex Jones channel made a lot of money for YouTube. Why would they want to get rid of it? YouTube is about selling ads and they need content, and Alex Jones some very good content. I think the reason was pressure from advertisers who were getting pressure from consumers saying. 'We're not going to use your products if you keep selling ads on this channel." This is the type of society we live in, where the left is so intolerant of any opinion that they disagree with that they will do anything they can to shut it down. Whether it is trying to use the power of government or trying to use their power as consumers to organize and put pressure on companies to silence people who are saying things they don't like. Slanting Content Invites Fairer Competition As long as it is not the government silencing free speech, the message is still out there. Alex Jones will still be out there, just not on YouTube, Facebook or iTunes. Ultimately, if places like Facebook or YouTube started to censor enough people, it would destroy the value of their franchise. If they slant their content it leaves the door open for a competitor to come in and offer free speech. Where you see massive hypocrisy is the same people who are up in arms about a small bakery who does not want to decorate a cake for a gay wedding and use the full force of the U.S. government to force them to so something they disagree with, have no problem with a trillion dollar company (Apple) denying service to Alex Jones because they don't agree with what he is saying. You either defend private property and liberty or you don't. I don't think we can force a baker to bake a cake for a gay wedding and we can't force YouTube to provide service to Alex Jones. Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

RATE AND REVIEW this podcast Wherever you listen. https://itunes.apple.com/us/podcast/the-peter-schiff-show-podcast/id404963432?mt=2&ls=1 Ridiculous Rhetoric in Tariffs One of the drivers behind the increasing cost of living is going to be the tariffs.  The rhetoric here is really ridiculous.  Talking heads on the mainstream media say, "We've got China by the balls..." "We're going to make them feel some pain..." "They're going to give in..."  We're going to force them to play fair because they have so much to lose..." We Have More to Lose and China Has More to Gain The reason that the Chinese stock market is suffering more than the American stock market is because investors are clueless. They believe all the nonsense that China is going to lose the trade war and America is going to win. It couldn't be further from the truth. We have a lot more to lose, in fact China has a lot to gain, if they would only figure it out. Why have the Chinese for so long been willing to subsidize the U.S. economy? That is what they have been doing.  They have been artificially suppressing the standard of living of their own people so they can prop up the standard of living in America. They have been denying their own citizens the production they otherwise would have been entitled to by diverting that production to exports. Economists Made Same Faulty Analysis After WWII This is the same type of argument that economists made, and I pointed this out on my first book, Crash Proof: The Second World War was nearing an end.  There were economists who were worried  that the end of the war would bring about a recession because there would be lots of unemployment. All of the factories that were producing military products wouldn't have anything to make anymore. And all the soldiers and factory workers would be unemployed. Everybody was worried that there would be a big economic downturn. U.S. Postwar Economy Boomed Because the Government Dramatically Cut Spending Fortunately nobody took the advice of those economists.  We ended the war anyway and rather than an economic downturn, we had an economic boom. In fact, you hear all these economists today who like to say that WWII got us out of the Great Depression. That's not correct. Yes, the GDP went up during the war because of all the military production, but if you look at the standard of living of American citizens during the war, compared to that of the post-war era, it was when the war ended that the economy boomed. Why?  Because the government dramatically cut spending.  Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

RATE AND REVIEW this podcast on Facebook! https://www.facebook.com/PeterSchiff/reviews/ Abolish the Capital Gains Tax? If we simply had no capital gains tax, but wen are still taxing the worker on the value of his labor without any deductions whatsoever, I just don't think that's a fair system. That's one of the reasons I would not want to just abolish the capital gains tax. I would want to abolish the entire income tax and go to an indirect tax, such as sales tax or tariffs.  We would obviously have a much smaller government if it had to survive on indirect taxes, on excise taxes. This is what the framers of the  (of the Constitution) originally envisioned.  They thought that direct taxes, like an income tax, would only be used during times of war. That's why they made it so hard to enact. Indirect Tax Rather than Direct Tax During peacetime, the government was supposed to operate on excise taxes.  Of course, the whole idea of income tax to me is inconsistent with free people. Free people do not have to report everything to the government.  They don't have to fill out paperwork under penalty of perjury and file all these tax returns, keep all these records.  If the government is forcing us to do all this, the government is the master and the people are the servants. That is not what America is supposed to be about. Is Government the Master and We the Servants? Of course, the biggest problem I have with the capital gains tax cut is that government spending is not also being cut. So we're talking about another tax cut without reducing the size of government. Since government spending needs to be paid for, if we're going to cut the capital gains tax, how are we going to pay for government spending that capital gains taxes used to pay for? Obviously we are going to borrow it. And borrowed money is going to do more damage to the economy than any benefit we get from reducing the capital gains tax.    Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

RATE AND REVIEW this podcast on iTunes! U.S. GDP Growth Reported at 4.1% Today we finally got the highly anticipated first look at U.S. economic growth, or really GDP growth, because the GDP is not that great a barometer of the economy.  Nonetheless, thats the one that everybody uses to measure it, and that's the one that we're going to talk about. Perhaps I can get into why the GDP is such a flawed measure in a different podcast; I really don't want to get into it today.  I just want to talk about the numbers that are being spoon-fed. Atlanta Fed Forecast of 3.8% Might Be Closer to Final Number In any event, we got the number today, and there was initially a loth of estimates that we could just blow it away this quarter, that we could have a number north of 5%, and we got 4.1%. So, we at least are above 4%, which lets Donald Trump brag about the number being over 4%, although we'll see how long it stays over 4%. You know, we did get a lot of data that was coming out this week, and in recent weeks.  In fact, the Atlanta Fed lowered its forecast, which at one point was as high as 5.4% and it lowered it down to 3.8% yesterday. I think that 38 might end up being more accurate than the 4.1%.  In fact, we may end up being below 3.8% by the time they make the final revisions. Celebration May Be Premature They actually revised the first quarter back up to 2.2%. So they revise these things constantly.  The first number is rarely the correct number.  In theory, they could revise it up but I think it's more likely that the revision is going to be down, so the celebration is premature. New Home Sales Lowest in 8 Months Two numbers that came out this week that caused the Atlanta Fed to move down to 3.8%: one was new home sales.  It was the lowest in 8 months. In fact, they revised down some prior months.  I had already reported in a previous podcast the weak numbers for existing home sales, which is a bigger number because most of the homes that are bought already exist. But the ones that are being built have a bigger impact on the economy proportionately because of all the construction jobs.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

POST YOUR REVIEW OF THIS PODCAST ON iTunes Voting Responsibly for Freedom I am "pro" young people because I want them to grow up in a free country. I want them to have every opportunity to be as prosperous as possible.  Democracy is actually an enemy of freedom.  Young people have a better chance to achieve their goals if the 18-19-20 year old generation aren't voting for leaders who pass policies that will actually undermine our success and our progress. They're not sophisticated enough yet; they don't know enough yet about the real world to understand the real role of government. Socialism Masquerading as Capitalism The goal is to have the best government. that's why we don't let elementary kids vote. Why? because they are not sophisticated enough and even 18-year olds who have never had a job are not able to discern what we need for good government. I am trying to reach more and more young people to help them understand the benefits of freedom and capitalism and understand the dangers of socialism and of socialism that is masquerading as capitalism, crony capitalism and corporatism. We have the U.S. government controlling the economy with regulation and taxes and then blaming everything that goes wrong on the free market. Everything that goes right is because of the free market. Everything we achieve is despite all of the road blocks that government creates and the level to which they go to undermine success. Turn on to Liberty So the more young people who can listen to this podcast (younger people are more likely to listen to podcasts) the more knowledgeable voters we'll have to vote for good government. The higher this podcast is ranked, the more people will discover it.  I have heard this story many times: first time listeners who have found me.  Once I turn them on to liberty, once I appeal to them,  I open their eyes. They then do their own research; they start to read. They start to tune out all the propaganda and start thinking for themselves. I can change people's mind. Help Me Get the Word Out You can help me change people's minds by posting your rating and review this podcast on iTunes. Put the stars on there and write up a review and help me get my podcast to more people.  That's the way to win this political war. There is a giant move to the left. People have misinterpreted the results of the last election.  The electorate is moving left. That left wave is going to affect the moderates and even the Republicans in this next election. The coming recession will be worse than the last one and is going to be entirely blamed on free market capitalism. Pierce the Smokescreen of Mainstream Media We need to make as many people as possible realize that they are being lied to. The media can repeat a lie often enough that people believe it is the truth. The point of my podcast is to get the real truth out there and to pierce the smokescreen of lies that is being blown by the government, by Wall Street, and by the mainstream media.  Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Presidential Tweets Express Anger at the Fed The catalyst today was more tweets from President Trump where he is expressing anger, not only at the Federal Reserve, and at the ECB and at the Bank of China, because he is accusing both Europe and China of being currency manipulators; taking advantage of us by weakening their currencies. He's saying that a weak currency gives you an advantage.  It doesn't. Strong Currency Provides Trade Advantage When it comes to trade, it is a strong currency that gives you the advantage because trade is all about imports.  How do you get more stuff for your own citizens, and the way you pay for that stuff is by exporting. But the goal is to export as little as possible and to import as much as possible.  If you're a buyer, you always want to pay the least and get the most. So you pay for stuff when you export because you're using resources to produce stuff for other people. But you're not producing stuff for other people because you're charitable, you're trying to earn the money to buy stuff for yourselves that other people made. Is Trump Firing Back? Having a strong currency is a huge advantage because it means you can claim a greater portion of the global output. Because the dollar has been so over-valued thanks to the generosity or the stupidity of our trading partners, Americans enjoy greater consumption than what would otherwise be available to them if we were limited by our own collective production. So we actually have the advantage. But by calling out China and the ECB for deliberately weakening their currency, you would think that Trump may want to fire back. Weakening the Dollar Donald Trump doesn't control the Fed, but the Treasury Department can intervene in the foreign exchange markets. Maybe, if Donald Trump really believes that these other countries are deliberately weakening their currency and if he has no control over the Fed but he does have control over the U.S. Treasury, he can have the Secretary of the Treasury intervene, go into the Foreign Exchange Market and start dumping dollars, trying to drive the dollar down so that we can reclaim the advantage.  At least the way he looks at it.  Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Trump Driver is Suing the Trump Organization On thing I talked about on the Joe Rogan podcast was a story that broke the same day of my last podcast, which I thought was very interesting.  It was about Donald Trump being sued by his former personal driver, who still works for the Trump organization, by the way, he's worked there for over 25 years until Trump became President and got a tax-payer provided driver, he had to pay his own driver.  I think the guy was getting a $70K/year salary, which to me seems about right. Diver Claims He is Due Overtime The driver sued the Trump organization because he claims that he was due overtime, and he didn't get paid overtime. Now he's worked for the Trump organization for 25 years.  He has known his pay all these years and never once complained and now after 25 years he wants to use the labor laws to retroactively force the Trump organization to give him a pay hike. Terms and Conditions of Employment First of all, he is not an hourly employee.  It's not like he is punching a clock and the organization asks him to work overtime. According to the article I read, the driver needed to be on call for Trump something like 10-11 hours a day. Maybe 55 hours a week he was on call in case Trump needed him. That does not mean he was driving all that time; he just had to be accessible to Trump. He couldn't go on a vacation or leave town, but he could watch a movie, he could read a book, he could trade stocks on the internet, he could do whatever he wanted.  He had plenty of free time between times he drove for Trump. He knew exactly what the deal was and he chose to work under these conditions. What happens in America is that employees like to go back in time and re-write the deal more favorably to them. If this driver did not like the terms of his employment, he had two options: * He could have gone to Donald Trump and said, "I'm working on call 10 hours a day - that's more than a normal 8-hour job, you're paying me $70K/year, If you want me to be on call that many hours, you need to pay me more money. Then Trump would have had two options - pay more money or find another driver. * If the driver did not like his employment conditions of that job, the compensation package, the amount of hours he had to be available, he was free to drive for somebody else.    Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Misguided Tweet About Pfizer Another misguided tweet that came out today from the President had to do with drugs: Pfizer & others should be ashamed that they have raised drug prices for no reason. They are merely taking advantage of the poor & others unable to defend themselves, while at the same time giving bargain basement prices to other countries in Europe & elsewhere. We will respond! So here's the President, threatening businesses for raising prices; for making a profit.   If Obama were calling out big business like this, the Republicans would be all over him, or if Hillary Clinton were saying this:"You don't understand capitalism! This is an assault on private enterprise!" Trump's Protectionism Tolerated by Republicans But Trump says it and it's no big deal.  Can you imagine if Hillary Clinton had launched these recent tariffs? Can you imagine the backlash by the Republicans? "This is terrible, the President doesn't understand capitalism; the President doesn't understand free trade; this is going to backfire; this is going to lower our standard of living; this is going to raise prices!"  The Republicans would be all over Hillary Clinton.  They would have been all over President Obama. Republicans have generally been known to be in favor of free trade.  It's the Democrats who wanted some protectionism because they wanted to protect workers.  They think free trade will lower wages, hurting the blue collar worker. So you would generally associate Democrats with protectionism. The Republicans wanted to be Free-Traders. Get Rid of FDA Red Tape Now, of course, since President Trump is advocating protectionism, the Republicans don't want to attack him because they are blindly loyal to the party. So now he's bashing Pfizer and other private companies for "gouging" the consumer, just raising prices for no reason.  This is all misplaced. I agree that drug prices are too high; they should be a lot lower. It is not that Pfizer is rising prices for no reason. One of the reasons drugs are so expensive is the FDA. This is something President Trump can do something about.  He is the President.  The FDA is a Federal agency. Why not get rid of all that red tape?  It takes an average of 10 years and $2.6 billion for a drug company to develop a drug and get it to market. The drug has to recoup those costs when they finally get a drug to market.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

"Bring on the Trade War!" Today is Jobs Friday, but before I get to the jobs report, I want to talk a little bit about the escalation of the trade war,  In fact, some stories I'm reading are that the trade war began today, or last night.  A lot of the tariffs are finally being imposed.  The market reacted positively; the Dow was up 100 points today.  The NASDAQ was up 100 points as well, which is percentage-wise a much bigger increase - 1.34% move - so who cares about a trade war?  "Bring it on! America is going to win the trade war because we've got the least to lose because we've got the biggest deficits. Dollar Sold Off Despite Trade War and Jobs Number The dollar, meanwhile, sold off today. The dollar index closed at 94, barely held the 94 handle.  It traded below briefly, despite what many people consider a stronger Nonfarm Payroll report. So, the dollar went down despite the beginning of the trade war and despite the supposed strong jobs number. To me, the dollar topped out at 95; I expect us to crack below 94 next week, and if we break below 93, if we get into the 92's I am pretty sure the rally is over, technically speaking and we're heading for new lows relatively quickly. Who is the Industrial Powerhouse? Let me get back to the trade war that we are supposedly going to win.  One of the most interesting things about it, is when you look at the goods each side is imposing tariffs on.  When you look at that, you can see which country is the industrial powerhouse and which country is a third world country masquerading as an economic power. Here are the goods made in China that Trump wants to tax the American citizens on: Aircraft tires Scales Nuclear reactors Cranes Boat motors Bulldozers Aircraft engines Boring machines Aircraft engine parts Construction vehicles Air & gas compressors Oil & gas drilling platforms Combine harvesters Plows Industrial heating equipment Chicken Incubators Dairy milkers Plows Livestock equipment Machinery for processing meats Paper making machinery Machinery for molds, cements Printer & copy machine parts Machinery for glass products Printer & machinery for making rubber Industrial ovens Industrial magnets AC & DC generators Lithium batteries Electric transformers Radar & radio equipment Equipment for circuit breakers Television parts & video recorders LED's Electronic traffic signs Trains & rail parts Large vehicles Diesel cars & trucks Motorcycles Helicopters Microscopes Airplanes Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Market Closed Early for July 4th Holiday The U.S. stock market closed early today, ahead of tomorrow's Fourth of July holiday when the markets are of course closed and Americans are out celebrating Independence Day, the birth of the nation, July 4, 1776.  I love the Fourth of July as a holiday; it is purely American. Framers of the Constitution Risked it All One of the problems I have with the Fourth of July is that it makes me feel both good and bad about what happened on July 4, 1776.  I am honored to have been born in a nation that was conceived in liberty and I think about the sacrifices made by the people who signed their names beneath John Hancock's name to that document. These men risked it all to put their names on the Declaration of Independence, committing treason against the British government.  If we had lost that war, the King would have killed our founding fathers, as traitors. The American Experience is Unique and Privileged So you think back on the accomplishments and the sacrifices that were made and the incredible republic that our founders created.  I'm proud that, but at the same time, I'm sad that it has all been lost.  We no longer have the nation that our founders created for us. We have lost all that it means to be an American. It used to be so special to be American, based on the type of nation that we were, and the type of individuals that Americans were; what it meant to be an American, how unique and privileged it was. The Role of Government in America And today, even though the American economy is regarded as at the top, a lot of that is a function of debt and it's all an illusion. The difference  between an American and any European these days is not nearly as great as it was. If you have never read the Declaration of Independence, and I am sure most of you probably had at some point, you might want to take another look at it, and give the entire document a read.  I am going to read just a part of the second paragraph, because this is the most important aspect to understand the essence of what America is supposed to be, and what the American government is supposed to do.  This is important because there are all these Socialists out there who want to re-define America - Democratic Socialism.  This paragraph helps you understand the role of government in America. We Hold These Truths to Be Self-Evident Governments can have different roles in different countries, but in America, there is a certain role that government is supposed to have. It had it for a long time, but it no longer fills that role: We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness. — That to secure these rights, Governments are instituted among Men, deriving their just powers from the consent of the governed, —    Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

 Dow Ending a Down Week on a Positive Note The Dow managed to finish a down week on a positive note; the Dow Jones was up about 55 points - 24,270-ish is where we closed.  Although intra-day, we were up better than 250 points, so most fo the losses came toward the end of the day, as the Dow was not able to hold on to all those gains.  It held on to some of the gains, but Russell 2000, not as lucky. That index ended up finishing a down week down on the day. Probably the difference is the oil stocks, which are really helping out the Dow, to a lesser extent maybe the S&P 500 and that also closed positive on the day, but just barely, and well off the intra-day highs. I Predicted Oil Would Be Heading Toward $80/Barrel While we're talking about crude oil, we were up again today, in fact, we haven't even finished trading as I'm recording this, but as I am looking at it, it is at 74.40, up .$.95 - right near the high of the day. I think so far that was $74.46, so, almost 74.50.  Oil is just a powerhouse.  For those of you who say, "Hey Peter Schiff, you haven't gotten anything right since 2008!", I beg to differ.  I've gotten some things right; I've gotten some things wrong, but one of the things I nailed this year is the oil market. I was very bullish on oil early in the year.  I was saying that oil prices were headed up to $80-$100/barrel at the beginning of the year.  When the year started, we were barely above $60, so $80 still looked like it was far away, but I was pretty sure we were going there. And, obviously, we're not there yet, but the year is only half over, and we're a lot closer to $80 than half way. I don't think we're going to stop at $80.  I think it will be somewhere between $80 and $100/barrel. What is Driving Crude Oil Right Now? The question is, what is driving crude oil right now, because the dollar is rising. Today, it did not rise.  Today the dollar index got smoked.   Some of that had to do with political news announced last night in the Eurozone regarding immigration, but the dollar wasn't just weak against the euro today, it was across the board.  All the currencies scored big gains.  The dollar index is back down below 95 - 94.63.  Remember I said on my last podcast I did not think there was much room above 95 for the dollar index to rise. So far I'm right about that.  Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Election Results in N.Y.C. Indicate Political Backlash Trump has already said that he's "Made America Great Again", so whatever problems he inherited, he's already claimed to have solved, which means any problems that arise now are brand new, under Trump's watch, and he and the Republicans are going to take the blame. An early warning sign of just how big a disaster this can be arrived yesterday in a N.Y.C. Congressional primary. You had a 10-term incumbent Democrat - the guy's been in Congress for 20 years. These guys are impossible to get rid of - trying to get rid of them is like trying to get rid of herpes. Joseph Crowley had been unopposed for 14 years.  28-year old Alexandria Ocasio-Cortez is going to be, if she wins, will be the youngest woman ever elected to the House of Representatives.  She is a former bartender with no real political experience other than being a member of the Democratic Socialists of America. They believe in the abolition of capitalism in favor of an economy run by either the workers or the government. Oil Prices Prop up DJIA, but not Broader Markets Even the surge in oil stocks was not enough to keep the U.S. stock market in the black today. The Dow Jones finished in the red by 165 points. That is a drop of .68 percent, but the broader markets which don't have the exposure to the energy sector faired much worse.  You had the composite down 116 points - 1.5% - and the Russell 2000 down almost 1.7%.  Oil prices had a huge day today.  They closed off the highs, but still up $1.80. $72.33 per barrel for the price of oil. We did get as high as $73.06 on West Texas earlier today, so this is a new high for the year. Remember, this is what helped the market avoid an 8-day losing streak when we got that 9th day rally, thanks to oil stocks; and I said at that time that I didn't think that was good news for the markets because higher oil prices may be good for companies, but they're not good for the overall economy. They're even higher now and it will be an even bigger drag on the economy. Trade Wars and Deficits Bearish for the Dollar More importantly than the oil price in dollars is the oil price in euros, which continue to weaken against the dollar and other currencies,  The dollar index had another strong day.  We're back above the 95 handle: 95.26. I think this is where the resistance is for the dollar, so I don't expect much headway above 95 on the dollar index.  I still think that the markets have this all wrong; a trade war is not a positive for the dollar.  So everybody who is betting that all of these trade tensions escalating is somehow dollar positive, they're wrong. Just as the people who are betting larger budget deficits are dollar bullish. Both of these events are dollar bearish, as the dollar bulls are soon going to find out. Oil Prices Threaten Inflation in the Eurozone In the meantime, the increasing price of oil is going to send Eurozone inflation blowing through the 2% ceiling.  I talked about that in this podcast. They don't have a 2% target in the Eurozone, like we supposedly have in the U.S. Here, the Fed is targeting 2%. They've even said they're targeting higher than 2% to be symmetrical around 2%. But in the Eurozone, 2% is the ceiling. That's why Draghi keeps saying we want to get close to, but below 2%, because it's a hard ceiling. Why they're trying to get close to it is beyond me because if you get too close to it you're in danger of going above it.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Stagflation Nobody realized just how bad the economy is, but they're about to find out.  All of the economic data that came out this week points to stagflation, if you look at the data.  Look at the Philly Fed - dropped down to 19.  It is the biggest drop in 4 years; the lowest since the election. Look at the manufacturing PMI - those numbers came out yesterday - dropped to a 7-month low, the lowest since November 2017.  If you look at the actual numbers - new orders fell sharply but input cost rose to their highest since September 2013.  So you have rising input costs, yo have falling orders; to me this is all stagflation. The Fed's Stress Test was too Easy As I pointed out, even Alan Greenspan, not too long ago on CNBC talking about stagflation. He can see it.  But you know who can't see stagflation?  anyone at the Federal Reserve.  The Federal Reserve announced the results of their stress tests, and surprise, surprise! Everybody passed. So the Federal Reserve designed tests to measure the banks that they regulate would perform under adverse economic scenarios. First of all, if a teacher gives a test, and everybody gets an A, then the test was too easy.  Clearly the Federal Reserve designed this test so that everybody would pass, which of course, is why the test means nothing. Obviously they don't want to announce that the banking system is not sound, so they want to run these bogus stress tests to create a false sense of confidence in the banking system. Look at the Fed's Assumptions I want to actually look at the stress test.  You really can't tell anything unless you look at the assumptions.  What type of stress is the Federal Reserve assuming the economy might encounter? First of all, you have the most likely scenario they assume - their base case.  Their base case scenario, which is their forecast is that everything is great. The economy continues to grow 2 - 2.5%/year - a little bit more this year but then it slows down.  Inflation stays right at 2%, interest rates stay about where they are, unemployment goes a little bit lower - everything is great, right? Now, their adverse scenario goes as follows:  the U.S. has a mild recession, and during that mild recession the Federal Reserve is able to lower interest rates down to about zero again.  The yield on the 10-year falls to about .75%, so 10-year yields fall below 1%; Inflation falls; they don't say how low but it falls below 2%, unemployment rises and peaks at 7%. This is their adverse scenario.  Interest rates go back down to zero. That doesn't sound that horrible. Inflation goes down - what is so horrible about lower inflation? This is not that bad. The Elephant in the Room is Stagflation But then, you've got to look at their extreme.  In that scenario, we have a bigger recession, and according to the Federal Reserve, there is a global aversion to buying government debt, like bonds.  So because of that aversion, the yield on the 10-year doesn't fall to .75% the way it does under the adverse scenario, it stays where it is - right around 3%. So because interest rates do not fall, there is a bigger decline in asset prices - I think they have a 65% decline  in stock prices, a 30% decline in real estate prices, unemployment rises to 10%, and inflation falls to 1%. I can't help but laugh at this severely adverse scenario, where inflation is only 1% and the Fed is able, again to lower interest rates down to zero. What is the Fed missing? The elephant in the room: stagflation. The 2008 Financial Crisis Was Not Even Close to the Worst Case Scenario There's an old saying that generals always prepare to fight the last war, and the same is true with central bankers.  What was the last war? It was the 2008 Financial Crisis. What happened during that crisis? Interest rates went down, inflation went down,  the dollar went up (by the way, the adverse scenario also assumes appreciation of the dollar,Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Upping the Ante The shot heard around the world in the ever-escalating trade war was fired last night by Donald Trump, threatening to impose another $200 billion of tariffs on American consumers wishing to buy Chinese goods. This followed the $50 billion in tariffs.  And, remember, when Trump announced the first $50 billion tax on Chinese goods, he threatened that if China retaliated by taxing its own citizens, that Trump would up the ante with even more taxes on American citizens, although he did not use those terms. He's acting as if the guns are pointed in the other direction. But, the Chinese, of course, not to lose face, immediately went tit for tat with Trump and now Trump had no choice but to follow through with $200 billion more in taxes.  Now, I guess the ball is in China's court. We'll see where they take it. Dow Closed Down for Sixth Consecutive Day The markets obviously didn't take it very well.  They sold off.  In fact, the decline in the U.S., as seems to be typical, was much more muted than the reaction was around the world. The Dow was down, it closed down for the 6th consecutive day. This was the longest losing streak for the Dow since March of 2017; down 287.  The lows were down about 415-430 or so, but not that big a decline. And the Russell 2000 was up again. Another all time high.  I think on the 6 days that the Dow has been down, the Russell 2000 has only been down 2 of those days. So it keeps going up, and this shows you that traders have convinced themselves that America is going to win the trade war - or at least, take the fewest casualties. Because the reason that the Russell 2000 is doing better than the Dow or the S&P is that you don't have the multi-nationals. Trump: Greatest Economy in the History of the World The theory is that the domestic economy can easily weather the trade war.  That it is no big deal, that trade is a small part of the U.S. economy, and so we have nothing to worry about! But if you are worried, well maybe worry about the multinationals that stand to lose, so just focus on all these small companies that are benefitting and basking in the glow of the greatest economy in the history of the world, and if you don't believe it, just ask President Trump.  Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

ECB Announces Dovish Tightening The big market-moving central bank announcement this week was not the Fed.  They came out with their so-called "hawkish hike", but yesterday, the ECB came out and they were supposed to announce the end of their Quantitative Easing program, their own version of the taper, which they did.  But they surprised the market by indicating that they would not raise rates above zero, where they are stuck, until the summer of 2019. The markets had not expected such a delay in rate hikes, so it was a dovish tightening announced by the ECB. The ECB Effectively Eased When the Fed raised rates, the reaction was pretty much what I expected.  The dollar did not strengthen. Gold did not go down. All of that had been priced into the market.  What caused the dollar to rally and gold to sell off was the ECB and their unexpected ease, which put a bid into the dollar.  We got a huge rise in the dollar yesterday.  We got a 2 percent or so drop in the value of the euro against the dollar.  And the weakness in the euro, along with the strength in the dollar caused a lot of the emerging market currencies to sell off, so it was a huge dollar rally, not because the Fed hiked, but because the ECB effectively eased. Initially, yesterday, gold jumped 2% in terms of the euro. In fact it jumped up the the high end of the range that had been trading against the euro and it was very close to a breakout against the euro. It was only up a couple of bucks against the dollar, so all of the rise was in terms of euros, and of course, other currencies also fell against the dollar. Unexpected ECB Move Caused Gold Sell-off This morning, the traders came out huge. When we couldn't get above that key level in terms of the euro, there was massive selling of gold this morning right out of the gate, and gold finally dropped about $20. Remember on Wednesday I talked about the fact that gold had been in a $12 range all month, and I knew that that wasn't going to persist.  Gold was going to have to break out one way or the other.  I anticipated gold to break to the upside because I expected gold to rise after the Fed hiked rates, which is what has been happening.  What I did not expect was for the ECB to come out with an effective ease, and that's what caused gold to break out of that range.  So I was right about the breakout but I was wrong about the direction due to the unexpected ECB move.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Fed Raises Rates for the 7th Time The Federal Reserve raised interest rates today.  I think this is the 7th rate hike. Six of these rate hikes have now taken place since Donald Trump was elected; five of them since he was inaugurated. The official rate now is 1.75% to 2%.  The Federal Reserve targets the midpoint of that range.  But the Fed has been tightening a lot longer than those 7 rate hikes, because, remember, before they hiked rates, they talked about it and they were tapering.  And the tapering was a De Facto tightening, because interest rates were effectively negative while the fed was doing QE. So, as it was tapering those purchases, it was reducing how much rates were actually negative, and that was, in fact tightening. Press Conference After Every Meeting? So the Fed has been tightening for a lot longer than the markets believe, which is why the recession is probably going to come a lot sooner and be a lot deeper than what anyone believes. There were rumors that came out earlier in the week that Powell thinks there should be a press conference after every single meeting. Right now, they just do it quarterly, and when they initially announced that, the reaction in the markets was, "Oh, maybe that means more rate hikes." because every time the Fed hikes rates, they have a press conference. So the thinking was, if they have more press conferences, they would have more rate hikes. Powell's Bullish Comments Contrarian Indicator I don't think it means that at all, in fact, there is no rule that says that the Fed needs a press conference to hike rates. They can hike rates at any meeting; in fact, they don't even need a meeting! They can hike rates between meetings.  They just haven't been doing it, but there's nothing that says they can't. So, I don't think having more press conferences means anything, but people are always looking for an excuse to do something, so that might have been an excuse.  But if you listen to what Powell said at this press conference, he sounded bullish on the economy.  Listen to the words he chose.  Given the fact that he is so bullish and the fact that the Fed is a pretty good contrarian indicator, if Powell is extremely bullish, it likely means that the best days of our so-called growth are behind us, and it is all down hill from here.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Market Movers: Singapore Summit We've got a lot of potentially market-moving events going on this week; we've got the Summit which I think is getting underway this evening with North Korea's President Kim Jong Un and President Trump meeting in  Singapore. No Market Move Expected on Rate Hike We've got the Federal Open Market Committee Meeting beginning tomorrow, it's a 2-day meeting ending on Wednesday.  The odds of a rate hike are 100%! So in all probability there will be a rate hike.  Eventually the Fed is going to reverse course and that will come as a surprise; odds are the surprise won't happen on Wednesday. Right now we are at one and a half to one and three quarters, so  the next hike will be one and three quarters to two. I think what might surprise the markets, is if the Fed dials back expectations for later hikes. A lot of people are still looking for 2 more hikes this year in addition to the one we will get on Wednesday.  They may indicate that they are closer to the end of their rate-hiking cycle.  Maybe they will dial back their anticipated "Quantitative Tightening". I don't think the Fed is going to deliver much at all in the way of Quantitative Tightening but they may indicate to the markets that they're not going to do as much as what the the markets believe.  But in any event, given a 100% probability of a hike this time, the hike itself will not move markets at all. What If They Don't Hike? If the Fed does not hike, that would provide a big boost to gold and a big drop in the dollar. If they do not hike, that would be an indication that there may not be as many future hikes.  But, again, if you look at how gold has traded in the past, if you look at how gold has traded in this cycle, it has generally been bullish for gold, if not the very day, then within the next few days.  Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Focusing on Emerging Markets I'm going to spend most of today's podcast talking about what is going on in the emerging markets, in the currency market and in the stock markets; what the speculators are doing, why they are doing it and why I think they are wrong and why I think it creates an excellent opportunity for investors to fade this trade and prepare for the ultimate reversal of these moves. Freedom Fest in Las Vegas But before I get into that, I want to talk about a few other topics of interest that happened after my last podcast.  I also want to talk about Freedom Fest in July.  I am going to Freedom Fest again, as I do every year in July. Not the greatest time of the year in Las Vegas - not that there's really a bad time to be in Las Vegas, you're going to have fun in Las Vegas whenever you go - but it is quite hot in July.  Of course I spend almost all my time indoors, so the heat really does not affect me.  And when I do go out, it is at night, and it is not so hot. The event is July 12-14 and if you have not already registered you can do it now.  It will be at the Paris Hotel & Casino; I will be there with my entire family - my wife and 3 kids.  We'll be at our booth, you can come by and have a chance to meet my wife and kids and say hello. Presentation on Tax Incentives of Working and Moving to Puerto Rico I am going to be participating in several events; I am going to be doing a talk on Puerto Rico and the tax incentives of working from and moving to Puerto Rico. Most of you should know by now, I am Puerto Rican. Puerto Rico is my main residence; I summer in Connecticut, but I am a resident of Puerto Rico. Euro Pacific Asset Management and Euro Pacific Bank are both  based in Puerto Rico. Bitcoin Debate Moderated by Naomi Brockwell Also I am going to be doing a Bitcoin debate against Jeffrey Tucker and Gary Smith - is it real, or is it Tulipmania? All of you realize what side I am on.  The debate will be moderated by Naomi Brockwell, who is known as "The Bitcoin Girl" in fact she appeared on my old radio show, the Peter Schiff Show, and I sure wish I'd listened to her and bought a bunch of bitcoin - obviously I would have a lot more money today.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Current Events Not much has been going on in the economy or the financial markets the last couple of days.  Its been  pretty quiet, so I'm going to take an opportunity to record a podcast more on current events and politics, so if you're not interested in those topics, then maybe just wait for my next podcast, although, when I did the Peter Schiff Radio Show 5 days a week, there were people who complained when I did not talk about the markets, or even the economy.  But I always enjoyed talking more about politics and current events, and I think the feedback I got was more engaging, so the show was more interesting. Supreme Court Wedding Cake Case So, I am going to talk about a couple of topics today; one has to do about that ruling that came out of the Supreme Court yesterday on the baker in Colorado who had refused to bake a cake for a gay wedding.  I know I have talked about this topic in the past; it is not the first time it has come up, but it has come up again in the wake of this ruling so I want to revisit that topic. No More Swimsuit Competition for Miss America Before I get to that topic, I would like to address a lighter topic, but nonetheless just as interesting.  The Miss America Pageant is no longer going to consider beauty as the criteria for the pageant.  In other words, it is a beauty pageant, but beauty doesn't count.  It's not outer beauty, it's just going to be, I guess inner beauty. They are going to get rid of the swimsuit competition, they are going to get rid of the evening gown competition and they will select a winner based on other characteristics.  I'm really not sure what.  I know they've got the talent competition; no one really paid too much attention to talent. Some of the women actually had some talent. Usually the most humorous part of the Miss America Pageant was the Q&A where there were often political questions asked and the contestants would try to give the most politically correct answer they could come up with.  Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Jobs Friday Today is the first day of June and it's also jobs Friday. But before we get to the always highly-anticipated nonfarm payroll number, I want to talk about some of the economic data that came out yesterday, on Thursday. Personal Income and Spending I think the most significant release was the Personal Income and Spending number for the month of April. The spending numbers were so strong that it prompted the Atlanta Fed to adjust its estimate for Q2 GDP all the way up to 4.6% and I think they notched it up another tenth today to 4.7%, so this is the highest estimate they've had since they had that 5.4% estimate for Q1.  Of course we now know that we got 2.2%, so they were much too optimistic on Q1 and my gut is they're equally overly optimistic on Q2. Spending Went Up as Income Went Down Let's talk about this Personal Income and Spending data.  The surprise was not on the income, but on the spending. In fact, the revisions, when they went back to March. the original report was for a .3% gain in income and a .4% gain in spending. They ended up revising the income number down, so income rose only by .2%, but they revised spending up. Spending went up by .5%. What does that mean? That means savings went down quite a bit, because, where did the money come from to finance the extra spending?  It didn't come from income, so it came from savings, or it came from debt. Either people depleted their existing savings, or they went deeper into debt by putting their purchases on the credit card. Spending Money Twice as Fast as They Are Earning It But then, for the month of April, we got a .3% increase in income, which was anticipated, but spending, instead of rising by .4%, rose by .6%. So consumers are spending money twice as fast as they are earning it for the month of April: .6 up on spending, .3 up on earnings . So, again, what does this tell you? People are tapping into an already shallow savings pool or they are running up m0re credit card debt to buy stuff.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Economy Slowing Down We got quite a bit of economic data that was released today, pretty much all of it confirming what everybody seems to be denying, and that is that the U.S. economy is, in fact, slowing down, at least the way we like to measure it.  We will get more data later in the week, of course we get the big number, the nonfarm payroll number, on Friday. We always get that number the first Friday of the month; this Friday is June 1, so we are going to get the May jobs number. Last Month's ADP Jobs Number Revised Down We got the ADP number that came out this morning.  It was weaker than expected.  In fact, there was a significant downward revision to the prior month, which was originally reported at 204,000 jobs.  That was revised down to 163,000 jobs, so about a 20% reduction.  This month, the consensus was 187,000 and we got 178,000; of course, that number will also be subject to revision next month.  But, to me, that shows that we can potentially get a weaker number on Friday as well. Decline in Refinances at an 18-Year Low Earlier this morning, we got some data on mortgage re-fi's, which we get every week.  We get the numbers on new mortgages and mortgage re-fi's.  Everything is down.  This makes sense, because mortgage rates are going up. In particular, the decline in refinances is to an 18-year low in mortgage re-fi's. One of the reasons that the inability to refinance your mortgage is going to become a problem is that re-fi's have been providing a lifeline to consumers to enable them to continue to spend. Refinances Available as Property Values Rise When you refinance your mortgage, you're generally doing it to reduce your monthly payment because you are able to qualify for a lower monthly payment.  Some people who perhaps could not qualify a couple of years ago because they did not have enough home equity, but as real estate prices have risen that has enabled people who have been unable to refinance in the past to re-fi now.  Especially for those who are doing a re-fi and are also doing a cash out.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Biggest Move in Crude Oil Not much action today in the stock markets on this Friday before a 3-day Memorial Day holiday weekend.  The action was really in the oil markets, the bond markets and the foreign exchange markets. The biggest move happening in crude oil.  Crude was down just over $3/barrel today; one of the biggest declines I've seen in some time.  We're back down to $67.50. Earlier in the week, we almost hit $73/barrel for crude, and here we are now at $67.50 - a pretty big drop today. We were down yesterday, also. Speculation in the Market The rumors today were that Russia and Saudi Arabia may be upping their production and it was that news that sent the market falling. But remember, markets don't move in a straight line.  You get a lot of speculators who get into the market and generally they're not there for the long run; they're there to catch a trend, and they're there to ride it as long as they can.  They tend to put stop orders in beneath the market.  In the case of oil, if you're long, you'll have a sell stop and many of those stops likely got triggered today. Technical Noise You probably had some people trying to minimize their exposure.  Either they limited their loss to the extent that they got in recently and they got stopped out with a loss or maybe they've been long for a while and they've been moving their stops higher to protect their profits and now they got stopped out of the trade.  But I think this is more technical noise.  I don't think this uptrend in the price of oil has changed based on this pullback from $73 now to $67.50.  Maybe we've got a little more downside, but if you look at the chart, you can barely see the decline.  The more recent uptrend that goes back to July - you look at this uptrend and it is holding perfectly.  We're not even down to the line yet.  We still have a little bit to fall before we hit that line.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Markets Rallied on Fed Minutes Interpreted as Dovish Earlier today we got the release of the latest Federal Open Market Committee minutes and before the minutes came out (they come out at 2pm Eastern Time). Prior to the release, all the stock markets were down; the Dow was down maybe about 150 points or so, and when the minutes came out, we got a rally, and the Dow closed up about 50 points.  So, a 200-point rally on the minutes, and the reason the minutes acted as a catalyst for the rally is that they were interpreted to be a bit more dovish than expected. The Fed's Symmetrical Inflation Target To me, the minutes were as expected; I had already been talking about the Fed's view that inflation can go above 2%. That they were willing to allow for some kind of "symmetrical" inflation.  The symmetry in this case meaning, we were below 2% for a long time and so now we can be above 2%. I guess for some reason the markets focused in on that. Specifically, the minutes read that "A temporary period of inflation modestly above 2 percent would be consistent with the Committee's symmetric inflation objective and could be helpful in anchoring longer-run inflation expectations at a level consistent with that objective." What does "Modest" Mean? Now, I don't know why allowing inflation to be higher than 2% is somehow helpful toward achieving their 2% objective. To me, It would be more helpful if they just kept it at 2%, if indeed that was their real objective.  But, even if you look at the language that they use, they don't really define what symmetrical could mean.  They talk about inflation being "modestly" above 2%: What is "modestly"? Is is 2.1%? What about 2.5%? Is .5% "modest"? They don't really define what "modest" is.  I have a feeling, again, that there's never going to be a definition, that it is going to be an ever-moving goal post.  Even 3% could be "modest".  "Hey, it's only 1%, right that's "modest", right? Fed Is Impotent When It Comes to Inflation But on a percentage basis, you wouldn't consider 3% modest.  You're above 2% by 50%.  50% is not a modest percentage, but they could say 1% is a modest percentage. Who knows?  I think the Fed is going to be looking for every excuse not to raise interest rates aggressively, no matter how high inflation gets.  Of course, they're not going to be that transparent. The last thing they would want to do is to let the markets know that they are that impotent when it comes to inflation.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Solid Gains Today in the Major Stock Market Averages We had solid gains today in the major stock market averages; the DJIA putting in the largest percentage gain, just over 1.2% or 298 points.  I think at the highs, the Dow was up 370 and change, so a strong day, S&P, NASDAQ also up not quite as much calculated as percentages. The Russell 2000 was not up as much as the other averages but it is at a record high again today.  I think it's the Russell 2000 that ultimately could make the biggest percentage drop once stock market traders start to figure out what's actually going to happen. A Lot of Saber Rattling and Not a Lot of Fencing But in the meantime, today, they were celebrating the cease fire in the trade war.  Although, I don't think I should call it a cease fire because nobody actually fired a shot.  It has been more of a war of words than a real conventional battle, I mean there was basically a lot of saber rattling and not a lot of fencing.  But I think what happened today is that we callee a truce.  Both sides sheathed their sabers and agreed that there is not going to be a war. The Markets Have Not Adequately Priced in the Cost of a Trade War And I think the markets were relieved, and so we got a relief rally based on that good news.  Although I don't think the markets sufficiently priced in the cost of a hot trade war.  I know Donald Trump said, "Oh, trade wars are easy to win." Believe me, if they were easy to win, we would have waged one.  They're not easy to win.  I don't think the markets really discounted how bad it would have been had the cold war turned hot. Peace Dividend Nonetheless, the fact that it wasn't going to happen - I think most people would agree that a trade war would be bad, and if now there is going to be trade peace, well there is a peace dividend and so we got that today.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Las Vegas to Vancouver to Las Vegas I'm recording today's podcast from my hotel room in Vancouver, Canada.  I'm up here for a couple of days at the 2018 Vancouver Resource Investment Conference and actually I left Las Vegas to come here; I am at the Las Vegas Money Show, I was there yesterday and I will be back again tomorrow for another talk, and on Thursday I am flying to Puerto Rico for another conference before heading back to Weston, Connecticut for the summer. Debating Bonds with Gary Shilling I was on a panel yesterday in Las Vegas at the Money Show and it was moderated by Mark Skousen, and one of the guys on the panel with me was Gary Shilling. And I've been arguing with Gary Shilling for a long time; there are plenty of YouTube videos of Shilling and myself over the years, arguing. He is basically a perma-bull when it comes to U.S. Treasuries. He is always bearish on the stock market and he's always bullish on the bond market.  For a while, he was right to be bullish on the bond market, because we had a huge bull market in bonds. But the bull market appears to be over, yet Gary Shilling is as bullish as I have ever seen him on the U.S. bond market. He is also bullish on the dollar; I guess if you are always bullish on the bond market you are also bullish in the dollar because bonds are dollar I.O.U.'s. Shilling: China Would Never Sell U.S. Bonds Now I think this is one of the times when Gary Shilling is dead wrong.  One if the points that he made that I challenged him on was when he started talking about China.  He said the Chinese would never sell their U.S. Treasuries because if they sold them, the prices would collapse, and they would be destroying their own portfolio; therefore they are not going to sell because they do not want to destroy the value of the assets they might want to sell. China Can Just Let Their T-Bills Mature I pointed out to Gary that the Chinese don't have to sell any Treasuries to get out of them.  They simply have to let them mature. Then it is not China who has to sell the Treasuries, but the U.S. Treasury who has to find a new buyer to replace China.  If China were dumb enough to own a lot of 30-year government bonds, then they would have to put those bonds on the market.  That would affect the price.  In fact, if you were China, and you owned a trillion dollars worth of 30-year bonds, and you did try to sell, the price would collapse.  China may be dumb, but they are not that dumb. They own a lot of T-bills, so they will mature in 30 days, 60 days, 90 days; they don't have to sell anything.  Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

[button link="https://www.youtube.com/watch?v=mANOqcnLtqA" color="lightgray" size="medium" stretch="" type="" shape="" target="_self" title="" gradient_colors="|" gradient_hover_colors="|" accent_color="" accent_hover_color="" bevel_color="" border_width="1px" icon="" icon_divider="yes" icon_position="left" modal="" animation_type="0" animation_direction="down" animation_speed="0.1" animation_offset="" alignment="left" class="" id=""]Mr. Schiff Goes to Washington[/button] [button link="https://www.youtube.com/watch?v=mANOqcnLtqA" color="lightgray" size="medium" stretch="" type="" shape="" target="_self" title="" gradient_colors="|" gradient_hover_colors="|" accent_color="" accent_hover_color="" bevel_color="" border_width="1px" icon="" icon_divider="yes" icon_position="left" modal="" animation_type="0" animation_direction="down" animation_speed="0.1" animation_offset="" alignment="right" class="" id=""]Mr. Schiff Returns to Washington[/button]  The Bear Market Rally The big story continues to be the bear market rally that has been going on in the U.S. dollar. The dollar index  closed above 93.  The low this year was just above 88, so we've risen above 5% so far in the U.S. dollar index.  Year to date we're up on the dollar a little over 1%.  We're still down about 6% from where the dollar ended 2016, but we've had this considerable rally in a relatively short period of time.  To me, it has the makings of a bear market rally, a short-covering rally.  There hasn't been any good economic news that would explain the strength of the dollar.  In fact, I talked about Fed comments from last week which to me, are quite dovish when you have the Federal Reserve indicating a tolerance toward inflation above 2% talking about "symmetrical inflation" rather than keeping it below 2%, So to me, those are statements that would normally be negative for the dollar. Technical Rally for Short-Covering The economic data, the jobs numbers that came out last week - much weaker than expected, so all the information would actually argue against a more aggressive Fed, in favor of a more dovish Fed, yet the dollar is rising anyway.  I think it's technical, I think it's short-covering and I think it is short-sighted. Dollar Strong against Emerging Market Currencies One of the areas where the dollar is the strongest is actually against the emerging market currencies.  Not the currencies that are in the U.S. dollar index - that's dominated by the euro, the pound, the yen - but the emerging market currencies, they're the ones that are bearing the brunt of  this sell-off, and it's a self-perpetuating problem, because as these emerging currencies go down, it puts upward pressure on their already increasing inflation rate. I think inflation is picking up all around the world, but if your currency is going down, that puts even more pressure on consumer prices, and the politicians of these emerging economies are resisting higher interest rates, both to combat increasing inflation and to support a weakening currency which is only adding fuel to the fire. Currency Traders Have It Backwards What's so ironic about all this is that traders are missing the bigger point. The United States is in the exact same predicament (only worse) than the emerging economies. We are going to be faced with the same set of dynamics, in that we are going to have risingOur Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Fed is Willing to Tolerate Higher Inflation Today is the first Friday in May and that means we got the April Jobs Report released today, and before I actually get into the details of the jobs report, I want to talk about what happened with the Fed this week. I think that is the most significant news of the week.  The Fed's statement on Wednesday and the comments from today are the real reasons we had the 300+ point rally in the Dow today, that's why we had the 400+point turnaround in the Dow on Thursday.  It's all about the Fed and its willingness to tolerate higher inflation. Fed Inserted the word "Symmetrical" So we got the FOMC announcement on Wednesday after their 2-day meeting, and as expected, they left interest rates unchanged. The most significant part of the statement that accompanied the Fed's decision not to raise rates was inserting the word, "symmetrical" in their description of inflation.  Up until Wednesday, the Fed was always worried that we didn't have enough inflation. The inflation rate was too low, and their goal was to get it up to their 2% level. We Can Go Above 2% to the Same Extent We Were Below 2% Now the Fed is saying that they are at 2% and they expect the rate to actually go above 2%, and they're OK with it. What they mean by symmetrical is that inflation was below 2%, at least the way they measure it. It's probably always been well above it, but let's just look at the government statistics.  Based on the government statistics we had inflation of 1.4, 1.5, 1.6; it was always below 2.  So now what they're saying is we can have some symmetry on the upside, meaning, all right, we can have 2.5, because 2.5 and 1.5. the average is 2. The Fed is Actually Lifting Their Inflation Target So what the Fed is really saying is their goal is not to have 2% inflation, their goal is to have inflation that averages 2%.  So if we've had inflation of under 2% for all these years, we can have inflation of over2% by the same proportion for the same number of years and they we would have averaged 2% inflation for the entire time.  So, in reality, what the Fed is really doing, and I have been saying this all along - for years and years - they are actually lifting their inflation target.    Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Market Tends to Produce Better Returns in the First 4 Months of the Year There is an old Wall Street adage: "Sell in May and Go Away". The reason for that saying is that seasonally, the market tends to produce better returns in the first 4 months of the year, January through April, and then, historically, beginning in May and throughout the summer, the market can generally go down, and I think the time to buy back in is typically September/October.  There are a lot of big down days, down months, crashes, so get out of the market in May, go away and then come back later in the year and buy back what you sold. Selling Started Right out of the Gate Today was May 1 and it looked like a lot of people were not going to wait to sell; they were selling right on the open.  The Dow was down all day.  At the worst, it was down better than 300 points but it pared its losses significantly, down just 64.  But the NASDAQ, which was never actually down that much (when the Dow was down 300 the NASDAQ was down only about 25) the NASDAQ ended up positive 64.  The S&P was up just under 7 points. Facebook Getting into the Dating Business Stocks were under pressure all day. I think the turnaround in Facebook - Facebook ended up a couple of percent.  Mark Zuckerberg announced plans to try to clamp down - I think he said he would have 20,000 people working in compliance.  They also announced that they are going into the dating business.  I'm surprised it has taken Facebook so long to get into that space.  It seems such an obvious fit. They already have everybody's profile. I think some of the other online sites, Match Group which owns Plenty of Fish are falling.  It's like Amazon stepping into your market. Heading toward 20,000 The market turned around and maybe that news lifted the NASDAQ, but to me, it was a weak day, the market was generally under pressure.  The Dow did manage to hold onto the 20,000 mark.  We were well below it - we were close to 23800.  It is really going to get interesting is when the Dow gets down to 20,000.  I think that's where we're headed.  Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

Markets Down But Not by as Much as Expected All the major U.S. stock markets were down on the week, but not by as much as I thought. We got that big drop on Monday, where we got the very bad reaction to even better than expected earnings.  Plus, with interest rates rising, I thought we would have had more selling, but we didn't we actually rallied back most of the week from the big Monday decline, not enough to recover all of the losses, but the total losses on the week were not that bad.  The Dow was down today, actually, by about 11 points. The NASDAQ eked out a small gain as did the S&P 500. Yield on the 10-Year Highest Since Financial Crisis Interest rates were moving up.  In fact, the yield on the 10-year on Wednesday hit 3.035%. This is the highest it has been since before the Financial Crisis and I think one of the reasons that the stock market recovered a bit this week was because investors breathed a sigh of relief that the yield didn't stay above 3%.  We closed above 3% on that Monday, I think it was 3.024%, but then we dropped on Thursday and dropped again on Friday; we went out at 2.957%, and that's only a slight increase from the 2.951% that yields closed at the prior week. Existing Rates High Enough for Significant Damage I think the markets are lulling in a false sense of security if they think that it's just one and done. "We finally took out 3%, maybe we cleared out some stops, and that's it. Yields have peaked, so there's nothing to worry about." As I said on my last podcast, even if this is the peak, I think it is already high enough to do significant damage to the economy, to the financial markets, to U.S. government finances.  But - it's not the peak. Rising Bond Yields Are Not Bullish for the Dollar Rates have barely begun to rise and I think they are going a lot higher.  Higher rates did continue to support the dollar.  The dollar actually had a strong week; the dollar index closed up just over 1% on the week.  It was down slightly today, so we surrendered some gains earlier this morning, but it was still an up week for the dollar.  Again, I think those people who are buying the dollar are going to lose a lot of money if they don't turn around and sell. I think this is a sucker rally.  As I said in my last podcast: Rising bond yields are not bullish for the dollar.Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy

The Correction is Over and the Bear Market is Resuming As I have been speaking about in my last couple of podcasts, it looks like the period of relative calm in the markets is over and the next leg down has begun.  So the correction is also over - not the downward move - that is not the correction - this is the bear market.  The upward move was the correction. It was the first correction in this young bear market.  Technically it is not a bear market yet because we're not down 20% but that is only a matter of time. So I think the correction is over and the bear market is resuming, the primary trend being down. Dow Transports Big Losers In fact, the U.S. stock market was down for its fifth consecutive day, although today was the biggest decline.  The Dow ended down 424 points.  We managed to close just above 24,000 at 24,024. But we were well below.  At the lows of the day we were down about 600 points.  Percentage wise we were down 1.74%. The NASDAQ, about the same, down 1.7%.  At the lows it was down close to 150 points on the NASDAQ.  Percentage wise, the Dow transports were the big losers, down 221 points - 2.08%. Earnings Don't Matter Now, one of the things that investors have been counting on to support stock prices and, in fact, drive them higher, were earnings.  Everybody's been saying, "Earnings are going to be higher!" Now what have I been saying on my podcasts, over the last several months?  I've been saying that it doesn't matter, because all these great earnings, if they materialize, are already baked into the cake. They are already discounted into the price of the stocks. So in other words, they don't matter. It's "buy the rumor, sell the fact". Double Whammy of Faster Growth and Lower Taxes If everybody knows that earnings are going to be good, well, they've priced in those expectations into the market.  Why do you think the market has gone up so much since Trump was elected President? It was on the anticipation of all these earnings that were going to come from a combination of faster growth and lower taxes. In fact, the lower taxes are why we were going to get the growth, so it was going to be a double whammy.  Well, all that was priced into the market.  Our Sponsors:* Check out Justin Wine and use my code PETER15 for a great deal: https://www.justinwine.com/Privacy & Opt-Out: https://redcircle.com/privacy