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I think we're going down in the stock market. We're going down in the bond market and we're going down in the dollar and we're going up in gold. In the meantime, people should be buying gold. They should be buying silver. I think we go up regardless of what happens. And I know a lot of people are still um worried about about buying gold and silver, right?
There are people that are still waiting for a pullback. Oh, I don't want to buy $3,300 gold. I don't want to buy $36 silver. Well, if you don't want to buy $3,300 gold, be prepared to buy $3,600 gold or $4,000 gold, right? Because it's more likely to go up than down. I think we're near the bottom in both gold and silver.
Uh so don't pressure luck. Peter Schiff, a well-known financial expert, believes the US economy is heading toward a downturn in the stock market, bond market, and US dollar. At the same time, gold is positioned for a significant rally. In this uncertain economic climate, he strongly urges investors to buy gold and silver now before prices move even higher.
Geopolitical tensions, concerns about the US dollar, and uncertainty surrounding Federal Reserve policy are all contributing to market volatility. Technical indicators suggest strong support near the 50-day EMA. And if gold breaks above its current resistance, the $3,400 level could be the next target.
Shift sees $3,200 as the floor and $3,500 as the ceiling in the current range. A breakout beyond this could signal a move toward $3,800 with long-term charts supporting this bullish outlook. On the trade front, Shiff criticizes the recent UDA S.E.V. Vietnam tariff agreement. While Vietnam complied with earlier demands by reducing tariffs on US goods to nearly zero, the US responded with higher tariffs, 20% on Vietnamese exports and 40% on goods suspected of originating from China but rerouted through Vietnam.
Vietnam, now the second largest manufacturer of apparel, footwear, and accessories after China, will see many of its products sold widely in American department stores affected by these new rates. Although the current 20% tariff is lower than Trump's earlier proposed 46%, it still significantly raises prices for US consumers.
Schiff emphasizes that despite political rhetoric, it's American consumers who bear the burden of these tariffs through higher prices. He warns that this combined with a weakening economy and potential Federal Reserve responses could lead to even greater inflation in the months ahead. Before we dive into this video, make sure to like and share it.
y of our updates. I think one of the most significant things that's been happening are the trade deals, right? The supposed trade deals that Donald Trump uh has been negotiating. Uh because, as you remember, there was a 90-day pause after the reciprocal tariffs resulted in a crash in the stock and bond market in the dollar.
a crash that stocks recovered from, bonds, you know, mostly recovered and the dollar didn't recover at all. In fact, the dollar made new lows. Uh, but the reason that we got the recovery is because we got the pause. Trump called the tariffs off and in fact, he earned the nickname of taco, right? Trump always chickens out, taco.
And I think that the markets are expecting another helping of taco uh because Trump has been announcing uh some very bad deals. Uh and the NASDAQ still finished at a new high today, right? The markets are still rising despite the fact that we're now learning that the Liberation Day tariffs, the reciprocal tariffs are coming back.
I mean, they may not be quite as high as they were originally proposed, but they're almost there. And in some cases, they're higher, but they're much higher than what investors expected when they bought that dip. Now, the first sign of this happened last week and I actually did a a a Twitter spaces or ex spaces and discussed it, you know, on Friday, but I talked about um the Vietnam deal uh because that really shows uh where Trump is going and it really exposes a lot of the BS that a lot of people were talking about uh when Trump first announced these tariffs because remember there are a lot of free traders uh that normally wouldn't like tariffs and so they had to justify what Trump was doing.
One I recall was, you know, Larry Cuddlo. I was listening to him on his show on on Fox Business, but he was saying, "Look, Trump's a free trader. Trump wants free trade. He's just going to leverage these tariffs. He's coming up with a high tariff, hoping that other countries will drop their tariffs to zero.
And then we'll reciprocate and do the same thing, right? They tariff us zero, we tariff them zero." Because supposedly these high tariffs were there to reciprocate the high tariffs that other countries had on us. Except they didn't have high tariffs on us. They were all make believe. But people thought, well, you know, if other countries go to zero, well, maybe we'll go to zero.
Well, that's exactly what Vietnam did. Vietnam dropped their tariffs on US imports basically to zero. Now, they weren't very high before. I think they were still less than 10%. I mean, so they were there. I mean, you know, nine 10% isn't nothing, but it's certainly not, you know, a big wall of protectionism that's going to keep our products out of their markets.
But there were some tariffs. Well, Vietnam said, "Okay, Trump, we'll go down to zero." Now, what did Donald Trump do? Did Donald Trump say, "Great. That's exactly what I wanted. Now, we're going to go to zero, too, and we're going to have free trade." No, that's not what Trump did. Trump raised tariffs on Vietnam to 20%.
hardly zero. And that's higher, much higher than the tariffs were on um Vietnamese imports before Liberation Day. And if it turns out that goods came through Vietnam via China, so China sends goods to Vietnam and then via Vietnam reexports them to us, that's going to be a 40% tariff. Now, you know, I'm not really sure how we, you know, prove that what we're getting from Vietnam originated in China.
So maybe there'll be uh some cheating to to get the lower tariff. Uh but we're going to be paying 20 to 40% tariffs. That's not zero. That's not free trade. So, you know, Vietnam lived up to its end of the bargain and we did not. Now, of course, Trump is touting this as this big win because when you hear the way he, you know, he presented it on Truth Social and the way he talks to the media, he said they're going to be paying uh 20 to 40% tariffs and we're not paying any tariffs.
But he's got it backwards. They're not paying our 20 to 40% tariffs. We're paying those tariffs. The Vietnamese are paying no tariffs because their government lowered their tariffs to zero. I think we're going down in the stock market, we're going down in the bond market, and we're going down in the dollar, and we're going up in gold.
In the meantime, people should be buying gold. They should be buying silver. I think we go up regardless of what happens. And I know a lot of people are still um worried about about buying gold and silver, right? There are people that are still waiting for a pullback. Oh, I don't want to buy $3,300 gold.
I don't want to buy $36 silver. Well, if you don't want to buy $3,300 gold, be prepared to buy $3,600 gold or $4,000 gold, right? Because it's more likely to go up than down. I think we're near the bottom in both gold and silver. Uh so don't press your luck. Don't hope for a big drop so you could buy more.
Just buy more right now. And if you don't own any gold and silver, well, you better make sure and buy some right now. Peter Schiff criticizes Trump's politically motivated 50% tariff on Brazilian imports, emphasizing that it penalizes American consumers despite the US running a trade surplus with Brazil.
He explains that tariffs don't burden foreign governments. They tax Americans. This criticism aligns with broader concerns from economists, researchers, and analysts who have warned that President Donald Trump's sweeping trade policy, which involves applying steep tariffs on most imported goods, will result in higher prices for consumers.
Trump's announcement on Wednesday of a 50% tariff on Brazilian products, tied to what he described as the witch hunt trial against Jaier Balsinaro underscores Schiff's point. Trump clarified that these tariffs would be separate from all sectoral tariffs. Following the news, Brazil's reel dropped over 2% against the US dollar, showing the immediate market impact.
Schiff also points to Trump's planned 25% tariffs on imports from Japan and South Korea, countries that already impose minimal tariffs on US goods, as further evidence of a policy that taxes Americans under the guise of punishing foreign nations. While the Council of Economic Adviserss, CA, part of the Executive Office of the President, claims that tariffs haven't fueled inflation, Schiff and others argue the economic burden still falls squarely on US consumers.
Despite relatively tame inflation in recent months, a point the Trump administration highlights as a success. Critics remain wary. Schiff's critique underlines the disconnect between political messaging and the realworld costs of tariffs borne by American households. Let's get back to the interview.
Americans are now being told everything you buy from Vietnam is going to be maybe 20 to 40% more expensive. Now, sure, uh, the business may not pass along 100% of that tariff. Maybe the business will eat some of it and and take a lower profit. Who knows? But Americans are going to be paying these tariffs.
So, we lost the deal. It's not a good deal for us. It's a rotten deal for us. I mean, maybe in Donald Trump's mind, uh, it's a great deal because he, you know, he gets to pretend that we won something because he gets to pretend that Vietnam is paying these tariffs when they're not. We're paying the tariffs.
But more important, it proves that the whole idea that we were trying to be sold, that Trump's real goal was a level playing field of zero tariffs, is complete BS. And in fact, more proof of that was just announced earlier today. Donald Trump announced that we're going to have 50% tariffs on Brazilian imports.
We don't even have a trade deficit with Brazil. I didn't even realize that, but we have a small surplus with Brazil. But now we want to make Americans pay a 50% tariff to buy Brazilian products. And Trump said that we're going to do this for political reasons. So because Trump has some kind of political beef with Brazil, he's going to make Americans pay 50% more to buy Brazilian products.
I mean, why why is he taking out uh his his frustration on the Brazilians with the American? But again, this is part of his misunderstanding of who pays his tariffs. I mean, we we we we're not able to push off our costs on the rest of the world, right? That's just not the way uh tariffs work. Now, in addition to uh the deal he made with Vietnam, later than that, he made a deal with Japan and Korea, or he didn't make a deal, excuse me.
He started sending out letters. Trump went public and said, "Look, nobody's making a deal with me. We're not getting good deals. I'm just going to send out letters telling people what they're going to pay for the privilege of doing business in the United States, right? I'm just going to assign these tariffs and that's what every country is going to pay." No, it's not.
The countries aren't paying these tariffs. What he's doing with these letters is he's informing other countries how much he's going to tax Americans when they buy their products. That's what he's doing. He's not telling them what they're going to pay. He's letting them know what we are going to pay.
So he sent letters out to Japan and South Korea saying 25% tariffs uh on Americans who import stuff from Japan and Korea. Now even though their tariffs on us right now are almost non-existent, I think the average tariff rate in South Korea is under 2% and in Japan it's under 1%. Right? So these are small numbers, right?
They're they're there to raise revenue more than anything else. uh they're not there to close down their markets to our products yet we're going to slap these countries with these 25% tariffs. Now of course Trump always likes to pretend that well there's these non-tariff barriers and if all these countries are facing tariffs well they all pass them on because it doesn't put anybody at a competitive disadvantage because everybody's got to build tariffs into their price structure.
But the bottom line is prices are going up. You know, a lot of people are looking at the tariffs we have so far and they're saying, "Oh, you see the CPI hasn't really shot up, so tariffs aren't causing inflation." Now, tariffs don't cause inflation directly. Indirectly, there's going to be a lot more inflation as a result of these tariffs because of what the Fed does uh to monetize the larger deficits that the weaker economy.
And in part, the tariffs are going to weaken the economy, are going to produce, and the fact that these tariffs will trap more of our dollars in the US, so we'll export fewer dollars abroad, and so those dollars won't come back to buy our bonds and to buy our stocks. They'll stay in America to buy whatever products and services we have, bidding up those prices.
So, we are going to see higher inflation. But one of the main reasons that a lot of the goods that are impacted by the tariffs haven't seen bigger price increases yet is because there is a lag. A lot of the goods that Americans have been buying the last couple of months were imported before the tariffs were in effect.
And so businesses didn't have to pay the cost yet on those goods. Well, now, you know, more goods are coming in that have been subject to the tariffs. and now you're going to start to see those higher costs uh being passed on to the consumer. In conclusion, Peter Schiff argues that tariffs, despite being framed as strong trade measures, are effectively taxes on American consumers.
He criticizes Trump's 50% tariff on Brazilian imports and planned 25% tariffs on Japanese and South Korean goods, noting they raise costs for US households rather than harming foreign governments. While the Trump administration cites stable inflation as proof of success, Schiff and other analysts point to hidden economic costs, higher consumer prices, reduced purchasing power, and weaken trade, arguing that these factors are not reflected in the official inflation rate.
In this climate of uncertainty, Schiff highlights the growing appeal of gold and silver as safe haven assets. As tariffs disrupt markets and shake investor confidence, more Americans are turning to gold and silver to protect their wealth and preserve long-term value. Do you think tariffs help or hurt the American economy in the long run?
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