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Peter Schiff Quotes
born 1963 United States
Peter David Schiff (born March 23, 1963) is an American businessman, financial commentator and author noted for his predictions of the housing market crash in 2005, support for unregulated markets and reduction of the powers of federal government. He was a Republican candidate for one of the Connecticut Senate seats, against veteran politician Democrat Chris Dodd.
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Mutual funds are an overrated investment heavily promoted by Wall Street.
Printing money is merely taxation in another form. Rather than robbing citizens of their money, government robs their money of its purchasing power.
The Constitution denies the states the power to make anything other than gold or silver coins legal tender in payment of debts.
If you think mutual funds aren’t a flagrant enough example of conflict of interest, try hedge funds.
Non-dividend-paying growth stocks can be attractive but should be viewed as speculation rather than investing.
Inflation is the unhappy result of our monetary mismanagement and the ultimate cause of the coming economic collapse.
It can be argued that the U.S. brokerage and investment banking industry has transformed the modern American stock market into nothing more than a mechanism for transferring wealth from shareholders to management.
The real bubble in China is in US Treasuries, in US dollars.
What America has succeeded in creating is not an economy impervious to shocks, but merely one which enables their consequences to be postponed to a later date.
Real economic growth emanates from increased productivity, which tends to hold prices down.
Schiff likes to say he 'predicted' the financial collapse, but with ludicrous theories like these, we're predicting that he'll never be a U.S. Senator.
Legitimate economic expansions, financed by actual savings, do not need busts. It is only the inflation-induced varieties that sow the seeds of their own destruction.
In the perspective of previous bear markets, notably those of the 1930s and the 1970s, the prospects look even worse. Economic conditions now are as bad as or worse than what existed then.
It is a common misconception that low wages are the main factor influencing prices. The reality is that low capital costs, and the absence of taxation and regulation, are far more important.
Transferring regulatory authority from one unaccountable agency to another will not solve any problems.
If Enron had been forced to pay cash dividends, it could never have pulled that caper off!
Dodd's proposal takes regulatory authority away from one unaccountable institution and gives it to another even bigger one. This will not solve our problems.
One of the biggest attractions of the euro is that it is seen as the most likely candidate to replace the dollar as the reserve currency.
Today, of course, our current inflation problem is firmly rooted in the irresponsible monetary policies of maestro Greenspan.
While it's refreshing to see Chris Dodd finally realize that we need to end the politicization of the Federal Reserve, his latest proposal merely repeats the mistakes that have created this crisis.
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