Tina from Huntington Beach, CA: How could Sen. Schumer's plan to sell homes to foreign investors in exchange for a visa change the housing market for average middle-class Americans? My husband and I are waiting to buy our first house here in Orange County, CA. When would you buy? Would you?
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 to dump bitcoin and buy gold before the bottom really drops out on bitcoin.
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https://www.youtube.com/watch?v=JGCPzSdlzV4
Peter Schiff on RT Boom & Bust 6/8/2017
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https://www.youtube.com/watch?v=xcG9mzbgFZ8
The drop in oil prices is likely to be short-lived, veteran stock broker Peter Schiff told RT, since the deflation of the whole US debt bubble and crash of the dollar will make the prices of oil and other commodities bounce up.
Decline in demand for oil due to the coronavirus epidemic, further reinforced by the demise of the OPEC+ production cuts agreement, has crashed the US and world markets, sending traders into a panic-selling mode. The ongoing market turmoil will certainly hit the oil industry heavily, but the impact is likely to reach far beyond it, CEO and chief global strategist at Euro Pacific Capital Peter Schiff believes.
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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.
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Peter Schiff: "I think that if you judge it based on the price of gold, for example, I think the Dow Jones is still down on the year. I think that's a much better way of looking at when you're looking at it in a very inflationary time period. The big news of the day that's driving the markets is the news coming out of the home-building sector, and that news is only going to get worse. Home builders are reducing their forecasts, they will be reducing them a lot more. Anyone who is tempted to buy these stocks, because they think they are cheap, because they have fallen so much; they are still very expensive. I expect all of the home price appreciation for the last five or six years to be erased in this market, and unfortunately, the mortgage debt associated with those purchases will not be erased, in fact, in many cases, because of negative amortization, the mortgages will be higher and because of higher of higher interest rates, they will be much harder to finance."
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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.
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https://www.youtube.com/watch?v=mp0k8kk1110
Peter Schiff and Jay Martin discuss the economy, inflation, jobs, crypto, Bitcoin, Sam Bankman-Fried, FTX, Binance, stocks, investing, and gold.
#SBF #FTX #bitcoin
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https://www.youtube.com/watch?v=gpiRrvVShck
The Peter Schiff Show Podcast - Episode 428
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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 -
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https://www.youtube.com/watch?v=NLwsNvkSxs0