peter schiff peter welcome back to the show what do you make of this messy situation with venezuela'sgold reserves and this default would do it your bank. well you know that as well is that a lot of trouble they unfortunately adopted democratic socialism and now they are paying the price and now they're you know losing their gold which is something that venezuela is going to badly need if they want to try to reestablish some type of viable currency they're going to need gold reserves to do it and it appears that they're going to lose you know what that portion of their reserves the key is that they actually have the gold that they pledged and are is a do it your banker to get the loan as collateral or is there not quite enough gold there to satisfy the loan. and also serbia and the philippines are among the other countries apparently taking steps to bolster their gold reserves serbia is working to increase their gold reserves from 20 to 30 tons. by the end of this year with the goal of holding 50 tonnes of bowling and by the end of 2020 and last week the central bank of the philippine

as we see global markets in are uncertain jittery stories one precious metal regain that shine peter schiff of euro pacific capital will be joining us to begin to gold as recent chair and what's causing the glow got a bad show today should go and dive right in. drug maker abby announced it will the choir botox maker allegheny for about $63000000000.00 gaining control of the biggest name in medical as set x. in order to reduce its reliance on key arthritis treatment humira as the has been under pressure to diversify its portfolio as humira the world's best selling drug posted its 1st ever drop in worldwide sales this year as a face competition from cheaper biosimilars in europe under the terms of the deal at the well pay point $86.00 of its shares and $12030.30 in cash for each share of allergen marking a 45 percent premium on allergen share price this deal comes as the latest in a string of acquisitions for the pharmaceutical industry as they begin consolidating earlier this year bristol myers purchased sela jeans for $74000000000.00 and eli lilly bought locks on college e. for 8000000000 d

apple's potential plan to dodge the trade war the federal reserve meeting has markets on the move peter schiff of euro pacific capital is on hand to break down the details and wall to get a glance at global bond sales and later while china has seen souring ties with some american companies they've also been opening their capital markets to some other foreign firms ford which of the british. business association joins us to break down what the openings mean for the united kingdom in the wake of bread products its impact on business we've got a packed show today so let's go and died right in. a big rally for markets in china and hong kong leads our global report today is presidents donald trump and she jinping confirmed they will meet during the g 20 in osaka japan to resume trade talks the c.s.i. 300 index which indexes the performance of the top 300 stocks on the shanghai and shuns and stock exchanges rose by 2.22 percent on wednesday meanwhile the shanghai composite index rose by 1.5 percent following the announcement of the meeting in hong kong the hang seng spiked 2.4 percent over the same

here to weigh in and make his next bold prediction is peter schiff himself, live in studio.just be clear. we haven't seen a rate cut yet. you predicted it was coming in december, that it will come soon. what are the odds that you say we will see a rate cut? >> well, i don't think that powell would even open the door to the possibility of a rate cut if he wasn't prepared to walk through it. in fact, the reason that i knew in december that that was their last hike and that the next move by the fed would be a cut was because the stock market was falling in december and you know, the only way the fed could stop the carnage was taking the rate hikes off the table. now it's falling again and so now all they've got left in their quiver is to actually cut rates. liz: i'm sorry, the market falling again? look at it today on the mere idea, peter, that the fed will cut rates. it's jumping. >> exactly. but you know, i think people are wrong if they think it's going to work again. the fed was able to inflate an enormous bubble with qe 1, 2 and 3 and keeping rates at zero for as long as t

be the outlook for met the metal going forward here to help us break it all down into gold is peter schiff c.e.o. of euro pacific capital peter welcome back. thanks for welcoming me back peter i'm sure you are eager to dig into this development you made an interesting point on twitter you said both gold and bitcoin prices have risen recently causing many to iranian slee conclude that the 2 are rising for the same reason but stock and bond prices are also rising bitcoin and stocks are rising as speculative assets while gold and bonds are rising is safe havens peter can you explain on that important clarification. sure i don't think that anybody who is buying the coin thinks they're doing something safe or conservative there are buying big congress they think the price is going to go to the moon so in other words they're speculating now some of the speculation is that one day in the future be quiet it will somehow evolve into a safe haven asset like gold but it's clearly not there yet and so some people might are are betting that that will be the case in the future but i think that's part of

percent despite calls from president trump to lower borrowing costs joining us for a consultant is peter schiff sea of euro pacific capital peter it's expected that will see repo rate cut at some point this year something fed officials have now pointing to as uncertainty increases in the attempt to do whatever possible to protect growth the u.s. had witnessed what do you make of the results of this latest meeting. well you know the fed up. likes to work incrementally so i think before they cut rates they want to officially adopt a bias to cut and that's exactly what they did today that's why the pop probability that the fed cuts interest rates addicks next meeting in july is now 100 percent and i'm pretty sure that is exactly what they're going to do a good hard take their 100 percent likelihood of a rate cut at the next meeting we know president trump was critical of the latest rate hike in december which was the 4th increase of 2018 and of course he's been putting the fed chair jerome powell on notice noticeably on twitter on tuesday he asked whether he would ask whether he would keep jerome

economic collapse this is why bitcoin which is the virtual digital version of gold a matter what peter schiff says no matter what michelle has it is gold to point out best now definitively been the case don't come at me with all of your crazy conspiracy nonsense and so we enter into another phase of the global financial crisis right now deutsche bank the tip of the spear as we've been saying for years . only keep money in deutsche bank you're willing to lose the banking system is about to implode we're on the cusp of. of a nightmare. and it's easy to predict if you're willing to look at some simple facts this show kaiser report has been airing for 10 years we started back in 2009 during the midst of the crisis this is the deutsche bank share price this is in 2008 down to 2009 while all the intervention by the central banks as been keeping some of it afloat now down 95 percent since this 2008 high one thing that has been happening since the beginning of the financial crisis this early on we had this debate of inflation versus deflation. you know we had a split evenly split between our gas some

finally as we see global markets in are uncertain territory one precious metal regain that shine peter schiff of euro pacific capital will be joining us to dig into gold's recent tear and what's causing the glow that got a bad show to those who let's go and dive right in. drugmaker abbey announced there while the choir botox maker for about $63.00. 1000000000 dollars gaining control of the biggest name in medical aesthetics in order to reduce its reliance on key arthritis treatment humira as the has been under pressure to diversified portfolio as humira the world's best selling drug posted its 1st ever drop in worldwide sales this year as a face competition from cheaper biosimilars in europe under the terms of the deal at the well pay point 866 of its shares and 12030 dollars and $0.30 in cash for each share of allergen marking a 45 percent premium on allergen share price this deal comes as the latest in a string of acquisitions for the pharmaceutical industry as they begin consolidating earlier this year bristol myers purchased sell a gene for $74000000000.00 and eli lilly bought locks on co

with a shaky bridge ahead for the overall markets sancho banks are beginning to ramp up old war peter schiff of euro pacific hopeful began to live nations are stockpiling the precious metal they have packed as a day and. an intersection of political and economic some intrigue leads are global reports today as the presidents of russia and china meet in moscow before the the it's and these st petersburg economic forum president xi. talks with his russian counterpart vladimir putin kick off a 3 day state visit that also commemorates their 70th anniversary of the establishment of diplomatic relations the 2 leaders will sign economic cooperation agreements on issues including finance and energy in 2018 trade between china and russia grew by 25 percent to a new record of $108000000000.00 china is russia's top trading partner did it begin a little deeper into the details of the meeting as r.t. correspondent alex mahela it so alex what was discussed so far by the chinese and russian leaders related related to their fall term relationships with the u.s. what can you tell us.

had in the history of the world and this is not solidifies that argument this is if anything if peter schiff can say the corner is now no value blah blah blah but there is a huge value and begin to study one of the largest social economic experiments and the history of humankind. obituary one eating jamie diamond says if you're stupid enough to buy fish oil and you'll pay the price well yeah $100000.00 a coin so all the headlines leading up to august 1st when we had a soft hard fork all the headlines were again that was dead because he was dying would not survive august 1st we were on the edge of our sea everybody was on the edge of the sea waiting to see what happened basically it was like y2k it all survived we survived everything was ok and from there we saw. of course from august 1st till the end of december we saw an epic parabolic move in big queen and it went up to $19000.00 by the end of the year that is correct once released from this controversy the price started a. hyperbolic move north toward this 20000 price and i remember being quoted in the press that you know once we got past

apple's potential plan to dodge the trade war the federal reserve meeting has markets on the move peter schiff of euro pacific capital is on and off break down the details and wall to get a glance at global sales and later while china has seen souring ties with some american companies they've also been opening the capital markets to some other foreign firms. hillary ford which of the british. business association joins us to break down what the openings mean for the united kingdom in the wake of bread products its impact on business we've got a packed show today so let's go and dive right in. a big rally for markets in china and hong kong leads our global report today as presidents donald trump and she jinping confirmed they will meet during g. 20 the g. 20 in osaka japan to resume trade talks the c.s.i. 300 index which indexes the performance of the top 300 stocks on the shanghai and shuns and stock exchanges rose by 2.22 percent on wednesday meanwhile the shanghai composite index rose by 1.5 percent following the announcement of the meeting in hong kong the hang seng spiked 2.4 percent over

i want to make a point to something that was said earlier this week by frequent boom bust gas peter schiff when there was doubt that big point is a store of value and he said. i don't think they're correlated to reality i think people are gambling with crypto currency is just the way you would gamble with a casino but that doesn't mean i would advise portfolio managers to take allocation to buying lottery tickets or or going to las vegas now where all the naysayers that say that bitcoin is not an emerging store of value let's take a look at the definition a store of value is an asset in which you can exit out of out at a later on time at the same value if not more and the comparative currency bit coins has been around for less than 10 years and in this short period of time there is only 40 days when you would be in the red buying into it 40 days that's nothing and that means for the rest of its existence you would be positive and that's incredible that's an emerging store of value the last few days we see real institutional volume coming in and we saw a buys from a client 8000 vacant yeste