Janet Yellen Channels Scott Nations – Ep. 142

Janet Yellen Channels Scott Nations – Ep. 142


* Big day in gold today; gold broke over $1200 for the first time in almost over a year, in fact we hit a new 1-year high
* I saw gold trading above 1260 at one point in the morning, that was up better than $60 on the ounce; It closed up 49.10, I believe at $124.90
* Remember, I was on CNBC "Futures Now" earlier in the week and gold was around $1180-$1190 and they were trying to press me on where I thought it would go, and I said, it's going to go higher, I'm bullish in the short term, the medium and the long term
* But I'll tell you one thing: when gold brakes through $1200, it's going to move to $1300 very quickly and people are going to be surprised
* It's just been one day and we're halfway there
* Gold stocks still reflect a lot of skepticism on this rally; Gold stocks were up about 7% on the day
* Gold stocks have a long way to go to catch up
* I mentioned on the last podcast, Dennis Gartman, who got bullish on gold, told people not to buy, he said wait for a pull back
* Well the people who are waiting f or a pull back are still waiting and they missed this entire $50 move
* The stock market was the mirror image of the gold market today; at one point, with less than an hour to go, the Dow was down 400 points again, the NASDAQ was maybe down about 60
* Then all of a sudden there was a rumor floated that the United Arab Emirates was considering meeting with other OPEC nations about a production cut and all of a sudden the market rallied
* The NASDAQ actually rallied positive; the Dow got to about -170 and then they rolled over on the close, Dow down 254, NASDAQ down 16.76 - horrible close
* Of course the weakest stocks on the day continue to be the financials getting decimated to new lows
* Goldman Sachs down about 4.5%, Morgan Stanley down 4.5%, Bank of America down 6.8% - many of these companies making new 52-week lows
* But outside the financials, the debacle du jour, in the stock market is Boeing, which is a Dow component, was down 7% on the day, near a 3-year low; the lowest I saw inter-day was -12%
* The news is that the SEC will investigate their accounting practices - that can't be good
* Also they reported that they are going to be laying off workers in an effort to contain their costs
* It's not just about bad oil loans, that's part of the story, that's just the tip of a huge iceberg
* In fact, the market rallied because of the rumor of OPEC is making moves to support oil prices
* We hear people saying that what the stock market needs is higher oil prices. No we don't!
* Higher oil prices will help oil stocks, but they're not going to help the overall market market because some guy writes an algorithm that runs a program that says, "Buy stocks when oil goes up"
* Steve Liesman said on CNBC recently that he never would have believed the market would be so dependent on oil prices

* A lot of people make that mistake, assuming that oil is driving the stock market but the same factors are dominating both: fear of higher interest rates and weakness in the U.S. economy
* But eventually, I think oil prices will go up, and the stock market will continue to go down
* Many people are hopeful that Janet Yellen's second trip to Capitol Hill, this time talking to the Senate, might save the market; apparently that was not the case
* Janet Yellen, this time, in the Q&A was closer to admitting that negative rates are coming
* She actually said they would consider doing it if the economy needed it
* All the discussion is going straight to negative rates and skipping over zero interest rates and QE
* There was no discussion about reversing December's .25 rate hike
* If Janet Yellen is thinking about negative rates, she has ready considered zero rates and QE
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Media Spins Horrible Holiday Sales as Reflecting Economic Strength: Ep. 28

Media Spins Horrible Holiday Sales as Reflecting Economic Strength: Ep. 28

Media Spins Horrible Holiday Sales as Reflecting Economic Strength: Ep. 28 * This holiday shoppers had more shopping hours * 5% less traffic than last year * 11% less money spent than last year * The economy can't support robust holiday sales * Despite big drop in gas prices * Our Sponsors: * Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com * 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

1 Dec 201424min

Black and Blue Friday for Oil Producers and Gold Miners: Episode 27

Black and Blue Friday for Oil Producers and Gold Miners: Episode 27

Black and Blue Friday for Oil Producers and Gold Miners: Episode 27 * Oil and gold stocks down * OPEC announced no decline in oil production * Crude trading below $66/barrel * Bump to the Dollar * Mining sector takes a hit * Gold down * A no vote on Swiss Gold initiative bullish for gold Our Sponsors: * Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com * 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

30 Nov 201435min

Despite Higher GDP, U.S. Economic Data Continues to Disappoint: Episode 26

Despite Higher GDP, U.S. Economic Data Continues to Disappoint: Episode 26

Despite Higher GDP, U.S. Economic Data Continues to Disappoint: Episode 26 Missing expectations on all economic indicators * Chicago Fed index .14 * PMI flash services 56.3 * Dallas Fed Manufacturing 10.5 * Case Shiller Index slows down to 4.9% * Consumer Confidence number down to 88.7M * Oil prices continue to fall * Big drop in Richmond Fed 75% below estimate * Optimism fueled by debt, consumption and bubbles Our Sponsors: * Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com * 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

26 Nov 201428min

The Real Outrage in Ferguson is the Reaction Not the Verdict

The Real Outrage in Ferguson is the Reaction Not the Verdict

The Real Outrage in Ferguson is the Reaction Not the Verdict: Episode 25A * Riots are not the caused by the Grand Jury * The Grand Jury's statement did not address Michael Brown's culpability * All evidence points to officer's innocence * Media fears addressing Michael Brown's violent behavior * Young men are not raised to respect the law * This will happen again because there is no recourse to violence and false witness< Our Sponsors: * Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com * 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

25 Nov 201417min

Paul Krugman Runs Premature Victory Lap: Episode 24A

Paul Krugman Runs Premature Victory Lap: Episode 24A

Paul Krugman runs premature victory lap: Episode 24A * Assumes that money-printing works because there is "no inflation" * Krugman's cure for the stock market bubble was the real estate bubble * The test is when the printing presses stop Our Sponsors: * Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com * 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

25 Nov 201417min

SchiffRadio Podcast Episode 24

SchiffRadio Podcast Episode 24

Big News out of the Central Banks * U.S. FOMC * Primary concern - inflation is too low * no policy to "correct" the problem * Preparing markets for additional stimulus * Japanese Central Bank Doublespeak * Japanese sales tax hike postponed * Continued calls for more inflation * Why is sales tax is different than inflation? * Euro Decline * Mandating "stability" by increasing inflation? * Chinese Central Bank * Cut interest rate to 5.6% * Money flows to the dollar as a hedge because the market believes the Fed * Gold has not dropped much against the dollar and has risen against other currencies Our Sponsors: * Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com * 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

22 Nov 201431min

SchiffRadio Podcast Episode 23

SchiffRadio Podcast Episode 23

Episode 23: Going to Extreme to Prove a Point: Two articles about Peter Schiff: * MarketWatch - writer refused to address corrections before going to print except for my official title - The point of my forecasts is to help people avoid problems ahead of time - I did not call for a stock market crash; I predicted QE4 - The Fed can prevent a Dollar Crisis - I said hyperinflation is unlikely, but a possibility * New Republic - Writer quotes selectively from a Reason article to prove his own spin - Points to the CPI to refute real inflation - The price of a Big Mac mirrored the CPI until 2002 - Now price of Big Mac rises 2x as fast as CPI - This illustrates how the government measures inflation Our Sponsors: * Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com * 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

21 Nov 201427min

SchiffRadio Podcast Episode 22

SchiffRadio Podcast Episode 22

Episode 22: Lessons from the Michael Brown Case: * Don't rob a convenience store. * Don't rob a convenience store while high. * Don't be conspicuous after robbing a convenience store while high. * If a policeman then stops you, obey the policeman. * Do not try to take the policeman's gun away from him. * But if you get shot in the hand going for the gun and run away, do not charge the policeman when he says, "freeze!" * The political narrative hides the real problem: unhealthy family life. Our Sponsors: * Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com * 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

20 Nov 201421min

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