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 to dump bitcoin and buy gold before the bottom really drops out on bitcoin.
Monte in Plano, TX
I noticed in a recent article that the value of payments using the Yuan increased 171% from 2012 to 2013 according to a press release by SWIFT. In light of the Fed's dollar debasing, would the rise in Yuan exchange presage the decoupling of the Chinese and other economies from the US economy?
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https://www.youtube.com/watch?v=tBwpnc9KXbg
Peter Schiff: "We've been owning silver and buying it for our clients for years. This is a real bull market in metals. It is a reflection of inflation; a loss of confidence in fiat currencies and paper assets. That's why you're seeing bond prices here and in Asia dropping sharply. Inflation is driving metals higher and bonds lower. Corporate earnings and stock prices are not outpacing inflation. Year to date, the Dow Jones is down about 7%, priced in gold. The public is confused by pricing their assets in paper currency."
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https://www.youtube.com/watch?v=cjE77XkkmMk
Mike from Paris, TX
If China keeps all the gold mined within China and even imports more- then how are China Panda coins made and sold into the United States?
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https://www.youtube.com/watch?v=GoMBPnEjRwo
Jim Bullard undoes Jerome Powell’s damage control.
Fed goes from not thinking about thinking about raising interest rates to now talking about talking about raising interest rates.
Fed’s monetary tightening is as believable as George Costanza’s house in The Hamptons.
Bitcoin looks for lower support.
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https://www.youtube.com/watch?v=aq1tJrykvL8
Bonds are never a safe haven against inflation.
Consumers can’t afford to buy houses for what it costs builders to construct them.
Zillow bails on home flipping business.
Biden describes inflation as a high class problem.
US government now using Soviet propaganda tactics to explain inflation.
Bitcoin futures ETF BITO is the antithesis of what Bitcoin is supposed to stand for.
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https://www.youtube.com/watch?v=HsrGULXS0xg
Renewed momentum out of Covid stay-at-home stocks and into value stocks.
Crude oil, industrial metals, and other commodities move higher.
Tesla slips back into a bear market.
Can Elon Musk convince Peter Schiff to buy Bitcoin?
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The Peter Schiff Show (8/27/13)
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Mark from Rochester, MN: It seems like air travel is the same whether you fly US Air or Delta or United or Southwest. Why is this? Has the FAA so over regulated the industry that each company has no room to differentiate their services...and therefore can only compete on price alone? Also, why is it that none of these airlines that file bankruptcy ever go out of business?
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https://www.youtube.com/watch?v=ogFCsORR-CY
Volatile day and week for the Dow, which ended down almost a thousand today..
The sacrifices we made in WWII are completely different than the sacrifices we’re making now
Milkshake theory is working, for now.
IRS deadlines should be postponed to Election Day.
Gold seeing more buyers; Bitcoin seeing less.
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https://www.youtube.com/watch?v=tcMlHkNTJYs