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The Peter Schiff Show Podcast
Data Revisions Confirming What Voters Already Knew - Ep 993
Nov 24, 2024
Dive into the contrasting sentiments at a recent gold conference amid rising prices and a cautious economic outlook. Delve into job creation revisions that challenge reported employment data and explore the impact of recent elections on economic narratives. Consider Bitcoin's future with a new Treasury secretary and skepticism towards its government backing. Also, discover the economic challenges Trump might face if re-elected, especially regarding fiscal policies during a recession. Expect humorous critiques of current economic absurdities too!
53:05
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Quick takeaways
- Despite higher gold prices, investor enthusiasm remains low, indicating ongoing skepticism within the gold market despite significant gains.
- A major downward revision in non-farm payroll figures may reshape perceptions of the labor market, questioning the credibility of Federal Reserve policies.
Deep dives
Gold Market Sentiment
Despite a significant surge in gold prices, market sentiment remains subdued among investors according to recent discussions at a gold conference in New Orleans. The conference, marking its 50-year anniversary, had a relatively low turnout, reflecting a lack of excitement about gold's performance this year, even though prices reached around $2,715. This marked a notable increase, especially since gold was previously discussed concerning its potential to break above $2,000. The puzzling mood amidst rising prices suggests ongoing skepticism or fear within the gold market that has yet to fully reconcile with the commodity's upward trend.
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Discover
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