Transcript
Eric Bolling (0:00)
This is an iHeart podcast.
Narrator/Announcer (0:02)
Guaranteed Human post people keep going even when life gets busy. At Post University, online learning is built for busy schedules with support from real people who care. Become a post person. Learn more at post Edu.
Eric Bolling (0:28)
All righty folks, four o' clock markets are closed. What a wild 24 hour. Wow, 48 hours, 72 hours it's been because everything is hinging on the price of oil. Oil prices were extremely high. We $119 a barrel yesterday got down to $73 a barrel today. And then there was a new story that came. CBS ran the news story that said that Iran is looking to put underwater mines in the Strait of Hormuz which will in essence shut down shipping. Because if they do that, even if they threaten to do that, they no captain is going to bring 2, 300 men on a ship through the Strait of Hormuz and risk their lives. Doesn't matter how much insurance they offer them. And then Trump has said if you do this, what they just said they're going to do, they're going to hit, get hit 20 times harder. So it went from 73 to almost $90 a barrel in five minutes and now it's backing off around 87. My point, expect a lot of volatility in everything from oil. Gas prices are going to $4, folks. Just get used to it right now, Tom, you're going to see $4 no matter what happens, even if they declare peace tomorrow, you're going to see $4 in a gasoline pump. We can talk about that another time. Just prepare, be prepared for a lot of volatility. So Dow ends up almost unchanged. S and P, almost unchanged. Nasdaq almost unchanged. Well, oil price down $8, but like I said, it got down to $73 a barrel two hours ago. Two hours ago. All right, what can I tell you? All right, think about this for a second. In 2006, $20,000, 20 grand equaled roughly 33 ounces of gold at the SP. At today's prices, those same 33 ounces would be worth about $165,000. Smart Americans diversify a portion of their savings into precious metals. And that's why you need to consider buying gold from our friends at Birch Gold Group. For thousands of years, gold has been a store of wealth and value. And today it's a crucial part of any balanced strategy. Even better, Birch Gold Group can help you convert an existing IRA or 401k into a tax sheltered retirement account in gold. Just text the word America to the number 9, 89898. To receive your free info kit on gold. There's no obligation, just useful information with an A plus rating. With a Better Business Bureau and tens of thousands of happy customers, let Birch Gold Group help you diversify with gold. That is what we call peace of mind. Get some of it. Text the word America to 989-898. Again. America. Text that nine name to 989-898. All right. Okay. It's a tale as old as time. The people with the least amount of money and assets are paying for the people with the most. Welcome Back to Washington D.C. folks, the swamp. Where a proposal that maybe sounds a bit technical at first could actually mean that you and your tax dollars would bail out the richest of the rich. So it's like this. Let's just say, I don't know, Nancy Pelosi's hard earned millions of insider trading illegal dollars were somehow compromised by a bank. Well then your tax dollars, if this plan goes through, would help sort it all out for the Pelosi's. Ain't that nice? Don't you want to help Nancy Pelosi? Don't you want to bail her out if she needs it? Isn't that a nice plan? So what is this, besides diabolical? Well, it's a plan to expand federal deposit insurance from the current $250,000 to. Wait for it, $10 million. And that could quietly open the door to more bank bailouts, more government control of the banking system. Here's a rule of thumb in life, by the way, when you hear the phrase government bailouts and more government control, nothing good is coming our way. Nothing. And the Senator leading the charge? Well, she had a few, let's just say, issues with her own little paperwork, because of course she has. So every once in A while, the D.C. swamp comes up with a proposal so wrapped in technical jargon that normal people, we just tune it out immediately and then that's not an accident. That's the plan. They love words like banking regulations, deposit insurance, financial stability frameworks. Sounds really important, you know, typical fodder for those intelligent ladies of the View.
