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Hello everyone.
It's been quite an interesting day!
Here's a quote from Peter Schiff talking about the stock buyback binge that corporations have been indulging in over the last few years.
In 2016, G.E. bought back about $20 billion worth of stock,
and the stock was around $30. It is now under $8.
The stock is down 75%. That means, if they bought $20 billion worth of stock,
that stock now has a market value of just $5 billion.
$15 billion of shareholder wealth up in smoke!
And that is how you destroy a company from the inside!
You can listen to Peter's podcast HERE.
Lets get into it shall we.
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