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Peter’s Podcast

POSTED ON May 21, 2020  - POSTED IN Peter's Podcast

Earlier in the week, gold sold off on the announcement that initial trials on a coronavirus vaccine looked promising and on Thursday, gold was selling because, as CNBC put it, the yellow metal was “pressured by hopes of a swift recovery from the coronavirus-driven recession.” During a recent podcast, Peter Schiff said this just goes to show that people don’t understand gold or why its price is generally rising and why they need to buy gold now.

POSTED ON May 18, 2020  - POSTED IN Peter's Podcast

Despite Fed Chair Jerome Powell throwing cold water on the prospect of a quick economic recovery last week, there is still a lot of optimism out there. There is also an appalling lack of concern about all of the debt and money printing going on. In a recent podcast, Peter said nobody expects this to lead to an inflation crisis or a dollar collapse. But what can’t last forever won’t. And it won’t be a crisis — until it becomes one.

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

The consumer price index fell 0.8% in April, according to the latest Labor Department data. It was the biggest plunge in consumer prices since December 2008. year-over-year, the CPI is up 0.3.

By all indications, it appears inflation is the least of our problems despite massive Federal Reserve money-printing and unprecedented government spending. But in his podcast, Peter Schiff said you need to ignore the CPI because despite what it might indicate, inflation is a huge problem.

POSTED ON May 11, 2020  - POSTED IN Peter's Podcast

The US Labor Department released its April non-farm payroll report on Friday and it was as bleak as expected. As Peter Schiff put it, it was the weakest jobs report in the history of jobs reports. And even worse, a lot of these jobs are never coming back.

A record 20.5 million Americans lost their jobs last month and the unemployment rate surged to 14.7%. It was the largest and most sudden rise in joblessness since the government started tracking the numbers.

POSTED ON May 7, 2020  - POSTED IN Peter's Podcast

The Federal Reserve is creating a massive amount of money out of thin air and injecting it into the economy. Pretty much everybody believes this is the only choice given the economic emergency we face. But we’re told once the emergency is over, the Fed will take the excesses away. In his podcast, Peter Schiff explains why this will never happen. Once the drug addict is hooked, you can’t just take the drug away.

POSTED ON April 29, 2020  - POSTED IN Peter's Podcast

We’re starting to get data revealing just how bad the coronavirus government shutdowns have impacted the economy. One commentator called it a “house of horrors.” But markets have barely shrugged.  There doesn’t seem to be much concern. Peter Schiff said there’s a pass now on economic data.

POSTED ON April 27, 2020  - POSTED IN Peter's Podcast

It seems like everybody is getting a bailout right now. The government is handing out money it doesn’t have left and right. This is all justified because of coronavirus. Even conservatives who normally oppose government bailouts have jumped on the stimulus train. “This is a crisis!” they cry. The government has to step in. But as Peter Schiff explains in his podcast, the government crippled the economy in the first place. A government crutch isn’t the solution to the problem.

POSTED ON April 21, 2020  - POSTED IN Peter's Podcast

The price of oil turned negative on Monday for the first time in history.

Of course, that doesn’t mean that somebody will soon pay you to put gas in your car. We’re talking about the price of oil futures contracts. Nevertheless, it does indicate just how out of whack the oil market has become.

POSTED ON April 20, 2020  - POSTED IN Peter's Podcast

There seems to be growing optimism that we’re nearing the end of the coronavirus lockdown. Stocks have rallied despite dismal economic numbers. But Peter Schiff says there are some important questions nobody is asking, especially when it comes to the insane Federal Reserve monetary policy.

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