DiscoverThe Peter Schiff Show PodcastIt’s not the oil, it’s the debt – Ep 543
It’s not the oil, it’s the debt – Ep 543

It’s not the oil, it’s the debt – Ep 543

Update: 2020-03-101
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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.

 



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Comments (1)

Nobody

So timely Mr. Schiff. Please keep us in the loop

Mar 10th
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It’s not the oil, it’s the debt – Ep 543

It’s not the oil, it’s the debt – Ep 543

Peter Schiff