Gold’s 50-Dollar Sunday Night Collapse Explained – Ep. 97

Gold’s 50-Dollar Sunday Night Collapse Explained – Ep. 97


* Today's Podcast is entirely devoted to gold and gold stocks
* Last night, in just a few minutes, gold dropped $50
* One or more major sell orders hit the market at the same time and gold went down below $1100
* It was down $20 by the time New York trading opened and by market close gold was down around $37 on the day
* Silver was down only about .15 today
* Why was all that gold dumped? The goal could not have been to get a good price - the goal was to knock the price down
* The HUI was down 10% on the day
* This bear market in gold stocks is now bigger than the one from 1996 to 2000
* Gold stocks are much cheaper today than they were at the end of the dot com bubble
* If this a measure of trust in central bankers, the market is expressing greater confidence in Janet Yellen than it did in Alan Greenspan in 1999-2000,
* We know how badly that turned out for stocks and how bullish it turned out for gold
* The timing of this selloff comes on the heels of the media's spin on Janet Yellen's recent Congressional testimony
* But the real news that ignited the sell-off was China's admission that they have gold reserves and in fact they intend to add to those reserves, surprising the market
* If China was lying about how much gold they have had for the last six years, why does anyone believe they are telling the truth now?
* I think they are still lying - being strategic
* They want to get the price of gold down because they still want to buy a lot more gold
* If China still needs more gold, eventually this will bring the price of gold up
* Also a very negative WSJ article compared gold to the "pet rock" craze
* This is the same nonsense that proliferated in the 1990's
* The WSJ article describes gold investment as "a leap of faith" relative to dollar or stock investments
* Gold should not be compared to stocks - it is currency, a commodity
* Gold has intrinsic value, whereas the dollar is a fiat currency, backed by faith alone
* Gold has had value for 5,000 years - you don't need ot have faith, you just own it
* There will always be a use for gold
* Why have faith in central bankers when everybody who has put their faith in central bankers in the past has been burned
* An article on Zero Hedge compared the WSJ op-ed to a similar one from 1999
* The title was, "Who Needs Gold, When You Have Alan Greenspan?"
* They called him "the maestro"
* He gave us the dot com bubble, the real estate bubble and the financial crisis of 2008
* That's what happened to the people who put their faith in Alan Greenspan
* Over the next 12 years after that article was written, gold appreciated 650%
* Who needs gold when you have Alan Greenspan? Everybody
* Today Alan Greenspan recommends gold
* If we've got Janet Yellen, then we need gold
* Greenspan wrote the playbook that Bernanke and Yellen are expanding and he knows it does not work
* When you have Janet Yellen, you need all the gold you can get
* Fortunately, it's a lot cheaper to buy gold and it is a lot cheaper to buy the companies that mine it
* What could go wrong? Everything - what went wrong in 1999 and in 2008?
* The same thing that went wrong then will go wrong now, because it is the same central bankers
* And the same players on Wall Street either don't recognize the danger or are pretending it doesn't exist and abandoning everything we know about monetary policy
* This is the biggest bubble yet - the entire economy is dependent on bubbles
* Just when people trust the central bankers the most, that's the best time to buy gold
* When this market turns it's going to be vicious
* Once the market turns, Our Sponsors: * Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD * Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.com Privacy & Opt-Out: https://redcircle.com/privacy

Jaksot(1081)

The Biggest Crisis Is the One Few See Coming - Ep 921

The Biggest Crisis Is the One Few See Coming - Ep 921

Reserve your free ticket for The 2023 Expat Money Summit. Online, October 2-6. https://2023.expatmoneysummit.com/?ref=ps112Take back your privacy! Register for the free data security webinar on October 12th at https://schiffradio.com/actionJoin my Locals community to get The Peter Schiff Show ad-free! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member.Invest like me: https://schiffradio.com/investSIGN UP FOR MY FREE NEWSLETTER: https://www.europac.comSchiff Gold News: http://www.schiffgold.com/newsBook Store: https://schiffradio.com/booksFollow Peter Schiff on Twitter: http://www.twitter.com/peterschiffFollow Peter Schiff on Instagram: https://instagram.com/peterschiffFollow Peter Schiff on TikTok: https://www.tiktok.com/@peterschiffofficialFollow Peter Schiff on Facebook: http://www.facebook.com/peterschiffOur Sponsors:* Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD* Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.comPrivacy & Opt-Out: https://redcircle.com/privacy

30 Syys 20231h 4min

The Entire Economy Is About to Implode - Ep 920

The Entire Economy Is About to Implode - Ep 920

Reserve your free ticket for The 2023 Expat Money Summit. Online, October 2-6. https://2023.expatmoneysummit.com/?ref=ps112Take back your privacy! Register for the free data security webinar on October 12th at https://schiffradio.com/actionJoin my Locals community to get The Peter Schiff Show ad-free! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member.Invest like me: https://schiffradio.com/investSIGN UP FOR MY FREE NEWSLETTER: https://www.europac.comSchiff Gold News: http://www.schiffgold.com/newsBook Store: https://schiffradio.com/booksFollow Peter Schiff on Twitter: http://www.twitter.com/peterschiffFollow Peter Schiff on Instagram: https://instagram.com/peterschiffFollow Peter Schiff on TikTok: https://www.tiktok.com/@peterschiffofficialFollow Peter Schiff on Facebook: http://www.facebook.com/peterschiffOur Sponsors:* Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD* Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.comPrivacy & Opt-Out: https://redcircle.com/privacy

27 Syys 202354min

Inflation Is Strong, Not the Economy - Ep 919

Inflation Is Strong, Not the Economy - Ep 919

One-of-a-kind financing program at https://netsuite.com/goldCut your wireless bill to $15 a month at https://mintmobile.com/goldJoin my Locals community to get The Peter Schiff Show ad-free! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member.Invest like me: https://schiffradio.com/investSIGN UP FOR MY FREE NEWSLETTER: https://www.europac.comSchiff Gold News: http://www.schiffgold.com/newsBook Store: https://schiffradio.com/booksFollow Peter Schiff on Twitter: http://www.twitter.com/peterschiffFollow Peter Schiff on Instagram: https://instagram.com/peterschiffFollow Peter Schiff on TikTok: https://www.tiktok.com/@peterschiffofficialFollow Peter Schiff on Facebook: http://www.facebook.com/peterschiffOur Sponsors:* Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD* Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.comPrivacy & Opt-Out: https://redcircle.com/privacy

21 Syys 202355min

The Inflation War Has Already Been Lost - Ep 918

The Inflation War Has Already Been Lost - Ep 918

Go to https://bambee.com and type in Peter Schiff under PODCAST when you sign upVisit https://indeed.com/peter to start hiring nowJoin my Locals community to get The Peter Schiff Show ad-free! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member.Invest like me: https://schiffradio.com/investSIGN UP FOR MY FREE NEWSLETTER: https://www.europac.comSchiff Gold News: http://www.schiffgold.com/newsBook Store: https://schiffradio.com/booksFollow Peter Schiff on Twitter: http://www.twitter.com/peterschiffFollow Peter Schiff on Instagram: https://instagram.com/peterschiffFollow Peter Schiff on TikTok: https://www.tiktok.com/@peterschiffofficialFollow Peter Schiff on Facebook: http://www.facebook.com/peterschiffOur Sponsors:* Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD* Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.comPrivacy & Opt-Out: https://redcircle.com/privacy

15 Syys 202350min

Fed Money Magicians Running Out of Rabbits - Ep 917

Fed Money Magicians Running Out of Rabbits - Ep 917

Sign up for a $1/month trial period at https://shopify.com/goldVisit https://indeed.com/peter to start hiring nowGet an extra 3 months. https://expressvpn.com/goldJoin my Locals community to get The Peter Schiff Show ad-free! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member.Invest like me: https://schiffradio.com/investSIGN UP FOR MY FREE NEWSLETTER: https://www.europac.comSchiff Gold News: http://www.schiffgold.com/newsBook Store: https://schiffradio.com/booksFollow Peter Schiff on Twitter: http://www.twitter.com/peterschiffFollow Peter Schiff on Instagram: https://instagram.com/peterschiffFollow Peter Schiff on TikTok: https://www.tiktok.com/@peterschiffofficialFollow Peter Schiff on Facebook: http://www.facebook.com/peterschiff Our Sponsors:* Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD* Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.comPrivacy & Opt-Out: https://redcircle.com/privacy

9 Syys 202353min

Job Market Cools as Inflation Heats Up - Ep 916

Job Market Cools as Inflation Heats Up - Ep 916

Reserve your free ticket for The 2023 Expat Money Summit. Online, October 2-6. https://2023.expatmoneysummit.com/Get 25% off + a FREE bottle of Premium Pure CBD ($50 value, limit 1 use per customer) at https://nextevo.com/goldJoin my Locals community to get The Peter Schiff Show ad-free! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member.Invest like me: https://schiffradio.com/investSIGN UP FOR MY FREE NEWSLETTER: https://www.europac.comSchiff Gold News: http://www.schiffgold.com/newsBook Store: https://schiffradio.com/booksFollow Peter Schiff on Twitter: http://www.twitter.com/peterschiffFollow Peter Schiff on Instagram: https://instagram.com/peterschiffFollow Peter Schiff on TikTok: https://www.tiktok.com/@peterschiffofficialFollow Peter Schiff on Facebook: http://www.facebook.com/peterschiffOur Sponsors:* Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD* Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.comPrivacy & Opt-Out: https://redcircle.com/privacy

1 Syys 202356min

Powell’s Jackson Hole Speech Is Full of Holes - Ep 915

Powell’s Jackson Hole Speech Is Full of Holes - Ep 915

Reserve your free ticket for The 2023 Expat Money Summit. Online, October 2-6. https://2023.expatmoneysummit.com/Join my Locals community to get The Peter Schiff Show ad-free! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member.Invest like me: https://schiffradio.com/investSIGN UP FOR MY FREE NEWSLETTER: https://www.europac.comSchiff Gold News: http://www.schiffgold.com/newsBook Store: https://schiffradio.com/booksFollow Peter Schiff on Twitter: http://www.twitter.com/peterschiffFollow Peter Schiff on Instagram: https://instagram.com/peterschiffFollow Peter Schiff on TikTok: https://www.tiktok.com/@peterschiffofficialFollow Peter Schiff on Facebook: http://www.facebook.com/peterschiff Our Sponsors:* Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD* Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.comPrivacy & Opt-Out: https://redcircle.com/privacy

28 Elo 202353min

Peter Schiff's Reaction to the 2024 Republican Party Presidential Debate - Ep 914

Peter Schiff's Reaction to the 2024 Republican Party Presidential Debate - Ep 914

First 2024 Republican Party presidential debate reaction.Cut your wireless bill to $15 a month at https://mintmobile.com/goldOne-of-a-kind financing program at https://netsuite.com/goldJoin my Locals community to get The Peter Schiff Show ad-free! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member.Invest like me: https://schiffradio.com/investSIGN UP FOR MY FREE NEWSLETTER: https://www.europac.comSchiff Gold News: http://www.schiffgold.com/newsBook Store: https://schiffradio.com/booksFollow Peter Schiff on Twitter: http://www.twitter.com/peterschiffFollow Peter Schiff on Instagram: https://instagram.com/peterschiffFollow Peter Schiff on TikTok: https://www.tiktok.com/@peterschiffofficialFollow Peter Schiff on Facebook: http://www.facebook.com/peterschiffOur Sponsors:* Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD* Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.comPrivacy & Opt-Out: https://redcircle.com/privacy

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