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Peter’s Podcast

POSTED ON September 24, 2020  - POSTED IN Peter's Podcast

The markets got clobbered again on Wednesday (Sept. 23) with the exception of the US dollar, which hit a 2-month high. Not even the bond market managed to rally even with the stock market selling off and a strong dollar. Gold was down nearly $40 on the day and silver hit a 7-week low.

One of the big drivers of the sell-off was the perception that the Fed might be done with stimulus. In his podcast, Peter said this notion is wrong — at least in the long-term. But even if the markets were right, the stock market needs Fed stimulus a lot more than gold and silver do.

POSTED ON September 22, 2020  - POSTED IN Peter's Podcast

Monday (Sept. 21) looked a lot like March with everything selling off as the dollar rallied. There was a sudden burst of risk-off sentiment due to worries that a spike in coronavirus cases could lead to new economic lockdowns coupled with significant political uncertainty after the death of Supreme Court Justice Ruth Bader Ginsburg. Peter Schiff talked about the big selloff in his podcast, and he thinks there a deeper underlying reason for the sudden volatility. Markets are worried that the Fed and the US government aren’t stimulating enough.

POSTED ON September 16, 2020  - POSTED IN Peter's Podcast

Even as the fiscal 2020 budget deficit surged past $3 trillion, more than double the previous record deficit, US Treasury Secretary Steve Mnuchin called for more federal spending, saying   “now is not the time to worry about shrinking the deficit.” Of course, he wasn’t worried about shrinking the deficit before the pandemic either. Peter Schiff talked about the looming debt crisis during his podcast.

POSTED ON September 13, 2020  - POSTED IN Peter's Podcast

Wildfires are raging out of control in western states doing millions of dollars in damage and disrupting countless lives. In a recent podcast, Peter Schiff said the Federal Reserve has set an even fiercer wildfire – inflation. And we are in danger of it burning out of control through the entire US economy.

POSTED ON September 2, 2020  - POSTED IN Peter's Podcast

The S&P 500 charted its best August since 1986. Both the Nasdaq and the S&P 500 made new highs last month. Peter talked about the surging stock market in his podcast, saying that it is the biggest bubble ever. And despite what people seem to think, there will be consequences.

POSTED ON August 31, 2020  - POSTED IN Peter's Podcast

The Fed has moved the inflation goalposts.

The central bank will no longer focus on keeping a lid on inflation. In his podcast, Peter Schiff said this policy will simply speed up the destruction of the dollar and the economy.

Jerome Powell announced the new policy during his speech in Jackson Hole last Thursday. In the past, the central bank has targeted a 2% inflation rate as measured by CPI. Now it will shift to “average inflation targeting.” In effect, the Fed will allow the CPI to run “moderately” over 2% “for some time” to balance out periods where it runs under that level.

POSTED ON August 26, 2020  - POSTED IN Peter's Podcast

New home sales blew away expectations in July, coming in at the highest level since 2006. A lot of people take this as a sign of a strengthening economy. Peter Schiff begs to differ. In his podcast, he argued that surging homes sales are actually a sign of a weak economy.

Single-family new home sales rose 14% between June and July to an annual rate of 901,000, according to Commerce Department data. Sales were up 36% on a yearly basis.

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