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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.
#Dogecoin traders 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.
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The Peter Schiff Show Podcast - Episode 495
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.
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The Peter Schiff Show Podcast - Episode 333
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The Peter Schiff Show Podcast - Episode 336
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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.
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The Peter Schiff Show Podcast - Episode 223
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