Gold’s 50-Dollar Sunday Night Collapse Explained – Ep. 97
The Peter Schiff Show Podcast21 Heinä 2015

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

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· The Fed will surrender to inflation in 2023.· Recession will be the Fed’s next battle, and they’ll lose that too.· Inflation is expanding with money supply and credit supply.· Consumers in debt are going out with a bang.· Republican compromises continue to err on the side of big government.Go to https://bambee.com and type in Peter Schiff under PODCAST when you sign upJoin my Locals community to get The Peter Schiff Show ad-free and a day early! 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/investRATE AND REVIEW on Facebook: https://www.facebook.com/PeterSchiff/reviews/SIGN UP FOR MY FREE NEWSLETTER: https://www.europac.com/Schiff Gold News: http://www.SchiffGold.com/newsBuy my newest book at http://www.tinyurl.com/RealCrashFollow me on Facebook: http://www.Facebook.com/PeterSchiffFollow me on Twitter: http://www.Twitter.com/PeterSchiffFollow me on Instagram: https://Instagram.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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· 2023 is gearing up for a lot of volatility and weakness in the stock market.· 2023 stock market highs may have already been made.· NASDAQ stocks will implode when Cathie Wood turns from being biggest buyer to biggest seller.· 2023 will likely be the year Bitcoin collapses and gold shines.Get an extra 3 months. https://expressvpn.com/gold.Join my Locals community to get The Peter Schiff Show ad-free and a day early! 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/investRATE AND REVIEW on Facebook: https://www.facebook.com/PeterSchiff/reviews/SIGN UP FOR MY FREE NEWSLETTER: https://www.europac.com/Schiff Gold News: http://www.SchiffGold.com/newsBuy my newest book at http://www.tinyurl.com/RealCrashFollow me on Facebook: http://www.Facebook.com/PeterSchiffFollow me on Twitter: http://www.Twitter.com/PeterSchiffFollow me on Instagram: https://Instagram.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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· The days of low inflation are over.· Jerome Powell threw cold water on investors’ hope.· Terminal rate of interest continues higher.· Mr. Schiff Goes to Washington: https://youtu.be/mANOqcnLtqA· Mr. Schiff Returns to Washington: https://youtu.be/UvMGHzB37loGet an extra 3 months. https://expressvpn.com/gold.Go to https://shopify.com/gold for a FREE trial.Join my Locals community to get The Peter Schiff Show ad-free and a day early! 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/investRATE AND REVIEW on Facebook: https://www.facebook.com/PeterSchiff/reviews/SIGN UP FOR MY FREE NEWSLETTER: https://www.europac.com/Schiff Gold News: http://www.SchiffGold.com/newsBuy my newest book at http://www.tinyurl.com/RealCrashFollow me on Facebook: http://www.Facebook.com/PeterSchiffFollow me on Twitter: http://www.Twitter.com/PeterSchiffFollow me on Instagram: https://Instagram.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 Joulu 202256min

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· 2023 will see a new high-water mark in producer prices.· Declining Coinbase stock is an ominous sign for crypto market.· Kevin O’Leary is culpable in the FTX scam.· Americans on the hook for Teamsters pensions.Thanks Raycon! For a limited time, go to https://buyraycon.com/gold and use code HOLIDAY for 15% off your entire Raycon order.Join my Locals community to get The Peter Schiff Show ad-free and a day early! 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/investRATE AND REVIEW on Facebook: https://www.facebook.com/PeterSchiff/reviews/SIGN UP FOR MY FREE NEWSLETTER: https://www.europac.com/Schiff Gold News: http://www.SchiffGold.com/newsBuy my newest book at http://www.tinyurl.com/RealCrashFollow me on Facebook: http://www.Facebook.com/PeterSchiffFollow me on Twitter: http://www.Twitter.com/PeterSchiffFollow me on Instagram: https://Instagram.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

11 Joulu 202248min

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· Weakening economy will expand inflation· Bitcoin is building a trapdoor, not a bottom.· Jobs under Biden were returned, not created.Cut your wireless bill to $15 a month. For a limited time, buy any 3-month Mint Mobile plan and get 3 more months FREE at https://mintmobile.com/goldJoin my Locals community to get The Peter Schiff Show ad-free and a day early! 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/investRATE AND REVIEW on Facebook: https://www.facebook.com/PeterSchiff/reviews/SIGN UP FOR MY FREE NEWSLETTER: https://www.europac.com/Schiff Gold News: http://www.SchiffGold.com/newsBuy my newest book at http://www.tinyurl.com/RealCrashFollow me on Facebook: http://www.Facebook.com/PeterSchiffFollow me on Twitter: http://www.Twitter.com/PeterSchiffFollow me on Instagram: https://Instagram.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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