Peter Schiff Quotes

Peter Schiff is an American businessman, investor, broker, author, and financial commentator. Schiff is the CEO of Euro Pacific Capital, which is a gold and silver dealer based in New York City. Schiff was born March 23, 1963. He also is the host of The Peter Schiff Show. He usually shows up at Occupy protests and other political functions to show his point of view.

Peter Schiff Quotes

“The Fed's study is flawed as the comparisons are not relevant, ... When the world dumps dollars, they will also dump Treasuries, sending rates soaring.”
Peter Schiff

The Federal Reserve causes US dollars to be worth less by printing money. They are the reason the economy has bubbles and those bubbles burst. They print money and direct to areas of the economy, such as, housing, education, healthcare, and energy. The prices of those areas become inflated, cause a bubble, and a depression. Eventually they will print too much, the value of the dollar will be worthless and the world will no longer except 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.”
Peter Schiff

The US has succeeded in being able to postpone these bubbles from being burst. They can't stop the bubbles from popping, but they are able to hide it for a while.

“Global financial markets, not any government body, determine long-term interest rates through their bond trading each day. High demand for bonds pushes up their price and drives down their yield, yield being their effective interest rate after factoring in their purchase price. A combination of factors keep driving demand and pushing rates down, forces that have much more to do with speculation, hedging and politics than . . . with actual investment merit, ... Once these forces reverse, expect bond prices to plunge and interest rates to soar.”
Peter Schiff

High demand for bonds push their price up, making more people invest. This is an illusion and eventually the bond market will collapse. Interest rates will soar and bond prices will go down drastically.

“Unfortunately the situation in New Orleans is a microcosm of our nation as a whole. Although our reliance on foreign savings and production are widely known, and most economists accept the fact that a real economic disaster would ensue should foreigners discontinue such subsidies, dump their hoards of U.S. treasuries, and refuse to exchange real goods for paper dollars. However, rather than perusing policies to rebalance our economy, we simply do nothing, and hope that day of reckoning never arrives. However, just as that strategy backfired in New Orleans, so, too, will it for America as a whole.”
Peter Schiff

Our economy is run off of the savings of foreign countries. The US refuses to restructure our economy, the only thing that can happen is the world refuses our paper currency. It is already happening with countries using our dollars to buy up gold, silver, and oil. These are commodities with real value.

“borrowing to create cash flow ... The personal 'savings' rate has fallen to a new all time record low of minus 6%. Rather than curtailing consumption, Americans have merely responded to higher gas prices by borrowing more money. Therefore, the immediate damage isn't reduced consumption by increased debt. As a result, the actual damage is only being postponed, but with even greater consequences for future consumption, as not only will Americans be required to pay more for energy tomorrow, they will have to pay interest and principal associated with today's purchases as well. 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. Unfortunately, that date may have finally arrived.”
Peter Schiff

The government believes we just need to spend more money to fix the economy. Yes, you want money to be spent, but not by the government. The government can only borrow money at this point. Borrowed money is debt. You can't have prosperity with debt. You can only create prosperity with savings. We need to realize we can't just keep spending money, we need to live within our means. Which means cutting taxes, cutting spending, and stop purchasing goods. We need to invest in things of real value.

“the Philadelphia Feds manufacturers report for September revealed that despite a sharp slowdown, its prices paid index surged 257 points.”
Peter Schiff

The economy is an illusion. Fake money is just an illusion, it is debt. I may use a credit card and buy many nice things, and on the outside I look like I have money, but it is an illusion.

“It's up to the legislature to determine whether marriage should be extended to same-sex marriage,”
Peter Schiff

If you have the right to contract laws, then anyone should be allowed to get married. They can create a contract, called a marriage contract, that allows anyone to get married. You don't need the government involved in marriage. Marriage is a religious ceremony not a government event.

“There is nothing the Fed can do to combat inflation unless they hike rates aggressively.”
Peter Schiff

The Federal Reserve can not reduce inflation unless they stop printing. If they stop printing interest rates will rise drastically. This may cause a recession for a little bit, but in the long run it will increase prosperity to the economy. When governments print money they prolong the agony.