Recorded August 30, 2019 Don't miss my upcoming appearances: The Las Vegas Trading Conference, Oct. 4-5 The Dallas Money Show October 13-14 and the New Orleans Investment Conference, Nov. 1-4 Waiting for Hurricane Dorian When I recorded my last podcast on Tuesday evening, we were getting ready for Hurricane Dorian, which was supposed to pass by the south coast 0f Puerto Rico on Wednesday. But when I woke up on Wednesday morning, the meteorologists had the hurricane pretty much coming right over ...
Aug 31, 2019•1 hr 2 min
Recorded August 27, 2019 Real Significant Action in the Market: Gold and Silver The real significant action today was in the gold & silver market. I wanted to mention today that on Friday, the U.S . dollar sold and then today we're back at 98. So the dollar is not weakening against other foreign currencies. In fact, most people are still talking about the strong dollar. Even Donald Trump talks about the fact that we have a strong dollar. Now, Trump is bothered by the fact that we have a stro...
Aug 28, 2019•58 min
Recorded August 23, 2019 A Bad Day for Everybody Except the Democratic Candidates If you are one of the Democrats running for President, today was a pretty good day for you. But it was a bad day for just about everybody else; I guess other than gold investors, which I clearly am, but I'm also an American and I hate to see bad things happening to my country, even though I know bad things are going to happen. I would just rather be among those who profit from these events than suffer additional mo...
Aug 24, 2019•50 min
Recorded August 20, 2019 The Day the Yield Curve Inverted I am finally back in the United States - well, in Puerto Rico, technically is part of the United States, it's a territory - after my extended trip through Italy. I recorded that one podcast, and on the very next day, we had probably the most volatile day in memory. What happened that morning was that we got some weak economic data that came out of China and then we got some more weak economic data that came out of Germany and that immedia...
Aug 21, 2019•53 min
Catch Peter on Simon Black's podcast, "Sovereign Man" recorded yesterday in Italy. https://www.sovereignman.com/category/podcast/ Catch Me on Sovereign Man There's been a lot of action over the last couple of days in the U.S. stock market. In fact, the market just closed a few minutes ago, as I am recording. It is now after 10pm in the evening here in Italy. If you don't already know by now, I am out here in Italy with my son, and that's why I'm not recording as many podcasts as I normally would...
Aug 14, 2019•42 min
Recorded August 6, 2019 Trade War: New Tariffs and Accusation of Currency Manipulation Yesterday was the worst day of the year for the Dow Jones. At one point, we were down about 950-odd points. I think we closed down under 800; 767 points. But it was a follow-though from the weakness that we had on Friday and the news, too, that we had on Friday about the escalation of the trade war, where Donald Trump announced the imposition of new tariffs on China. Normal Movements in a Currency Market But w...
Aug 06, 2019•37 min
Recorded August 2, 2019 July NonFarm Payroll Report: Great? Not so Great This morning we got the release of the July NonFarm payroll report, and the general consensus among the analysts seem to be that it was s strong report, a solid report. I saw Larry Kudlow this morning on Fox Business talking about another "solid performance" in job creation. But once again, once you look beneath the surface, and you don't have to look too deep, this is not a good report. The Bar Was Set Pretty Low First of ...
Aug 03, 2019•56 min
Recorded August 1, 2019 Trifecta Podcasts this Week I hadn't planned on recording a podcast today; I did one yesterday and I figured I'd wait until Friday, get the … payroll numbers and finish up the week with a Friday podcast. But so much action in the markets today, that I just couldn't resist. I knew there would be a lot of people who would be excited to get a podcast today, so we're going to have a trifecta - we're going to have three days in a row of podcasts. Nobody on CNBC saw the Rate Cu...
Aug 02, 2019•43 min
I Bet an Ounce of Gold that Fed would Cut Rates Today I officially won an ounce of gold! I am referencing a bet that I made back in January of this year. During a panel discussion, I said that I though that the Fed was more likely to cut rates in 2019, than hike them. I was the only person on the panel who believed that. Everybody else thought that the Fed would be raising rates, which pretty much was the conventional wisdom in early January. Check out My Forecasts in December and January on You...
Aug 01, 2019•50 min
Two Camps: Inflation vs Deflation I did the first live stream a couple of weeks ago; that was on bitcoin. I got a lot of feedback on that one and a lot of people were coming up with potential topics for the next one. I think the most common request was for inflation or deflation: which one is it going to be? Because there are a lot of people out there who see the world similar to the way I do, as far as the problems that are confronting the U.S. economy in particular but the global economy, but ...
Jul 30, 2019•2 hr 45 min
Participate in my next YouTube Live Challenge next Monday, July 29, 9pm EDT The Topic: It’s Inflation, NOT Deflation What is Really Happening to Corporate Profits? Both the S&P 500 and the NASDAQ rose to all-time record highs today; nominal highs, of course. The Dow Jones didn't quite make it to a new high, it did close better than 50 points higher - 27,192.45, but probably the most interesting thing about the record high, is what's actually happening to corporate profits. I'm talking about ...
Jul 27, 2019•56 min
Participate in my next YouTube Live Challenge next Monday, July 29, 9pm EDT The Topic: It's Inflation, NOT Deflation Not to Praise the Tea Party but to Bury It President Trump originally won the Republican nomination by appealing largely to what used to be the Tea Party. A lot of Tea Party Republicans ended up embracing Donald Trump; in fact I think a lot of the support that might have otherwise gone to Rand Paul (a Tea Party favorite who went to Washington in 2010 as part of the Tea Party movem...
Jul 24, 2019•49 min
A Podcast from Freedom Fest in Las Vegas I'm still here in Last Vegas at Freedom Fest, but I wanted to take some time out to come up to my hotel room here and record a short podcast - otherwise I'd have to wait until Tuesday. There's been a lot of stuff that's happened over the last few days, so I definitely wanted to record something; the quality might not be up to snuff. But I figured I'd talk a little bit about what's been going on in the market. The Action Was in the Metals Markets Really, t...
Jul 20, 2019•22 min
See Peter at the Las Vegas Freedom Fest – July 17-20 https://www.freedomfest.com/ Save $50 using promo code SCHIFF 93 Ounces of Silver for One Ounce of Gold I think the most interesting development today in the market was in the metals market. I've been talking on the podcast for some time about the spread between gold and silver, and the fact that silver has never been this cheap, in terms of gold. The spread got to almost 93:1, where you can buy 93 ounces of silver for one ounce of gold - whic...
Jul 17, 2019•42 min
First Live YouTube Event Welcome to the Peter Schiff Bitcoin Challenge. First of all, I have to make a confession. I really was not familiar with YouTube live streaming and live chatting, and so the way I thought about this in my head; I thought that people were going to be able to talk. Like a Skype group conversation. People would be able to actually engage me and make their case in their own voice, and to be able to have a little back and forth. Post a Cogent Argument I didn't realize that th...
Jul 16, 2019•3 hr 6 min
Tune in to my first live YouTube event Monday, July 15, 9pm Eastern time U.S. Call in and convince me that I’m wrong on bitcoin! DJIA Record High Today Dow Jones set a record high today, closing above 27,000 for the first time ever. We added 227.88 points on the day. We closed at 27,088.08. The record high, 27,088.45 set just before the close. You know, we added to yesterday's gains, the S&P 500 was also up again - not taking out the record that was set yesterday, but we did, for the second ...
Jul 12, 2019•1 hr 1 min
Tune in to my first live YouTube event Monday, July 15, 9pm Eastern time U.S. Call in and convince me that I'm wrong on bitcoin! More Market News after Powell's Congressional Testimony The markets have been pretty quiet over the last couple of days, so I really don't feel like spending a lot of time on today's podcast talking about the markets. I probably will have more to say, maybe on Thursday when I'll probably do another podcast because Jerome Powell is making his way up to Capitol Hill tomo...
Jul 10, 2019•1 hr 5 min
See Peter at the Las Vegas Freedom Fest – July 17-20 https://www.freedomfest.com/ Save $50 using promo code SCHIFF Markets Up on Low Volume A lot of people on Wall Street probably took today off; after all yesterday was the Fourth of July, the market was closed. On Wednesday they closed the markets early in preparation for the July Fourth holiday. So when you have a Friday where the markets are open, but you have a Thursday when they're closed… most people probably left for the Hamptons on Wedne...
Jul 06, 2019•48 min
Recorded July 2, 2019 See Peter at the Las Vegas Freedom Fest – July 17-20 https://www.freedomfest.com/ Save $50 using code SCHIFF Markets Worried About Slowing Domestic Economy If you just looked at the U.S. stock market averages, you would conclude that not much happened today, but you would be wrong. Even though the S&P and the Dow and the NASDAQ were only up about a quarter of a percent, or maybe .3% - pretty small days. Although, as has been typical recently the Russell 2000 was down .6...
Jul 03, 2019•46 min
See Peter at the Las Vegas Freedom Fest – July 17-20 https://www.freedomfest.com/ Save $50 using code SCHIFF Recorded June 28, 2019 Dow Jones Had Best June Since 1938 U.S. stocks finished a down week on an up note, but the gains were not that large today. But of course, they were very big for the month of June. In fact, the Dow Jones just had its best June since 1938. That was during the Great Depression. S&P, not as big a record; you only have to go back to 1955 to find a June where the S&a...
Jun 29, 2019•55 min
See Peter at the Las Vegas Freedom Fest – July 17-20 https://www.freedomfest.com/ Save $50 using code SCHIFF Gold: Six-Year High Overnight Overnight the price of gold rose to a six-year high. We almost got to $1440. I think the high I saw was maybe $1438 - 39… we were up about $19 at the high point. Then it became a very volatile session overnight into the wee hours of the morning. But I think by the time we got into the New York time zone, gold was still up about $10-$12-$13 dollars on the day ...
Jun 26, 2019•56 min
Recorded June 21, 2019 See Peter at the Las Vegas Freedom Fest - July 17-20 https://www.freedomfest.com/ Save $50 using code SCHIFF S&P Record High: Why? U.S. stock market averages finished an up week on a down note. In fact, the S&P 500, before closing negative on the day made a new all-time record high. The S&P is the only major index that did make a new record high this week, in fact Donald Trump tweeted about the record high in the S&P twice yesterday. As soon as the market g...
Jun 22, 2019•49 min
Visit me at the Benzinga Trading Conference, NYC tomorrow Fed Tweaking Language to Officially Adopt Easing Bias Keeping with its tradition of having a tendency to act incrementally, the Federal Reserve Open Market Committee today announced that it was leaving interest rates unchanged - which was the consensus. There was an 80% probability that the Fed would leave interest rates unchanged. The other 20% was that they would cut rates. So there was a zero percent probability that the Fed would incr...
Jun 20, 2019•1 hr 8 min
Recorded June 14, 2019 Gold: Up Today When I recorded my podcast last Friday, I speculated that the price of gold might gap up the following Monday above $1350/oz., but that didn't happen because over the weekend Donald Trump managed to tweet out a face-saving way in which to not impose the tariffs on Mexican products that may have gone into effect on Monday. The markets breathed a sigh of relief. So, instead of gapping up. the price of gold went the opposite direction and gapped down. Fourteen ...
Jun 15, 2019•1 hr 5 min
Recorded June 10, 2019 Tariffs Off, Gold Gapped Down On Friday's podcast, I speculated that potentially we could see a gap up in the price of gold, gapping above the $1350 resistance level that has capped every gold rally for the past 6 years. But gold actually gapped in the other direction. It gapped down about $13 and it was down all day - never filled that gap. Catalyst for Sell-off The catalyst for the gold sell-off was Donald Trump calling off the tariffs that were supposed to go into effec...
Jun 11, 2019•58 min
Recorded June 7, 2019 Dow Finished the Week with a 4.7% Gain The Dow Jones soared 263 points today, although at one point the index was up better than 350 points. But it managed to finish the week with a 4.7% gain. That is the best showing for the Dow Jones Industrials in 6 months and in fact we snapped a six-week losing streak this week. All of the major averages had positive weeks. The NASDAQ - the best gainer on the day; up 1.7% - not quite as strong on the week because it took a shellacking ...
Jun 08, 2019•45 min
Recorded June 5, 2019 Volatility Led by NASDAQ There's been a lot of volatility in the stock market since I recorded my last podcast on Friday. In fact, on Monday, the tech stocks in particular got beaten up. The NASDAQ dropped by better than 150 points, led lower by the so-called FANG stocks (Facebook, Amazon, Netflix, Google). Google and Facebook, the biggest drop - I think it was something like 6-8%. Part of that had to do with the Justice Department investigating Google. Enlisting the Power ...
Jun 06, 2019•55 min
Sell in May and Go Away U.S. stocks closed out the week and the month of May with heavy losses; the DJIA down 354.84 points. Pretty much going out near the low of the day. That's a drop of 1.4%. NASDAQ also getting killed - 114.57 down - that was a 1.5% decline on the day. The Russell 2000 continues to melt down. That index falling 20 points - down 1.35% on the day. But the biggest losses continue to be in the Dow Jones Transports. That index was down almost 2% - 1.9% - 188.4 points. This is the...
Jun 01, 2019•58 min
Recorded May 29, 2019 The End of the Bear Market Rally Back on May 1, when I did my podcast, I officially called for the end of the bear market rally that so many people had confused for a new bull market, and the impetus for that call was the Fed coming out and not living up to Wall Street's expectations for just how dovish the Fed was. Remember, the market was starting to factor in rate cuts, not just an end to the tightening cycle, but the beginning of the next easing cycle. And Jerome Powell...
May 30, 2019•51 min
Recorded May 22, 2019 Low Inflation is Transitory Today we got the release of the most recent minutes of the Federal Open Market Committee, and I guess it was a bit of a mixed bag for people who were looking for whether the Fed was going to be more hawkish or more dovish with respect to its next move on interest rates. One thing that was revealed in the minutes that the governors still maintain, they are still saying that they feel that this "low inflation" that we've been experiencing is transi...
May 23, 2019•58 min
