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Peter Schiff the sale on gold is coming to an end expect gold to move up at the faster pace some stock market investors are finally starting to figure out the bubble and move into gold but Peter says we're only getting started here's more Peter Schiff F either Schiff podcast a very volatile and technically weak trading day for the Dow here I am for the third day in a row doing a podcast its market volatility that has brought me to the Makia again the Dow Jones down 525 points a very volatile and technically weak trading day for the Dow the market opened down we quickly sold off a couple of hundred but then we rallied back we got positive I think we were up a hundred maybe more and then going into the last hour or near the last hour we sold off hard the Dow was down I think close to 700 I'm not sure exactly but then we got a rally not all the way back to unchanged but then in the final 15 minutes of so the Dow rolled over once again to close just off the lows down 525 points over 2% down not as big a drop as yesterday's drop but coming on the back of yesterday's drop it adds up some of the tech stock actually rallied today that transports not down as much another 1.5% added to yesterday's loss Nasdaq some of the tech stock actually rallied today so that helped a Nasdaq some were down though Nasdaq down 93 points 1.25% Russell 2000 down 30 points that was just under 2% if the stock market went down enough there would be a bid in the bond market the bond market was actually up today finally we had a day where people were buying bonds but I said this was going to happen eventually if the stock market went down enough there would be a bid in the bond market that's exactly what happened if the stock market stops falling then the market is going to resume its descent this is the same dance that we were doing earlier in the year that eventually came to an end but we're back where we started from so if we get stocks going up then interest rates are going to go back up which is going to scare the market now they're going to go back down and so now people will buy bonds you Peter Schiff warns Trump tariffs put on the stock market is worthless the Dow Jones pushed into record high territory again late last week as Peter Schiff pointed out in his latest podcast pres Trump was out there pointing out the record run on Wall Street and claiming responsibility for this bull market just turn on Fox News and hardly a segment will go by that somebody isn't reminding you about how great the economy is Peter said it reminds him how people were talking up george w bush before the great recession us because you're a Republican you don't have to claim that anything that's done by another Republican is great in order to make the Democrats look bad because ultimately that comes back and bites you because you lose all credibility when the economy turns down and you've been gushing over how great it is and how successful the Republican president is and when it turns out it was just a bubble it was just an illusion and when the bubble bursts and the illusion is replaced with a harsh reality well you've got nothing and it makes it easier for the other side to scapegoat capitalism for the problems and hold out more government as the solution nevertheless the markets are going up one of the reasons is the so-called Trump tariffs put the idea is that Trump will keep an eye on the stock market and the economy and if the tariffs actually start to have negative impact he can just soften his stance and perhaps even lower the tariffs that will rescue the stock market and everything will be fine in other words there's this put so it's heads the market wins tails nobody loses right because as long as the tariffs aren't doing any damage the markets keep going up but if the tariff has turned out that they do damage well they get rid of them in the market resumes going up even if it has temporarily gone down so that is the Trump put just like the Greenspan put we had which became the Bernanke put in the Yellen put whether or not there is a power put beneath the market the idea was hey if the market ever Falls the Federal Reserve is going to slash rates to make it go up again so you can't lose even if the market goes down you're going to get bailed out whether it's by the Federal Reserve or whether it's by Donald Trump but Peter said he thinks this is just wishful thinking it's the kind of attitude you get during a bubble a mania and wishful thinking won't change reality if the stock market really starts to fall it's not going to matter if we call off the tariffs because if the market is falling chances are it's falling not simply because of the tariffs I mean the tariffs might be one element that is a problem for the markets but it may simply be one of a number and just getting rid of the tariffs isn't going to be enough to turn around a bear market in stocks which is long overdue actually the whole Trump foot thing may work exactly opposite let's say Trump does surrender in the trade war a lot of people have priced to trade war went into the market the tariffs are a stick Trump is using to beat the Chinese over the head the payoff is the u.s.
is supposedly going to get these fantastic trade deals when the Chinese finally given but if Trump has to take the tariffs away because he has to admit that we're losing because the market is going down maybe the market is already pricing and all of these promised benefits that are waiting for us at the other side of this trade war and if the trade war is over and we surrender if the benefits have already been priced into the market well now we've got to price those benefits out whatever they were so it's even possible that if the market is falling and then Donald Trump's reaction to a falling market is to back away from the tariffs the market could actually fall even more it could accelerate the decline Peter also offered an interesting analysis of cannabis stocks there is a great deal of volatility in that market right now Peter said it reminds him of the dot-com era it's not that cannabis is a bad industry but there is a lot of speculation there right now he said it's indicative of what you see overall during periods of market mania make sure you listen to the whole podcast Peter also gets into home sales the impact of tariffs on consumer prices here in the US and a GQ article on Puerto Rico you
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