Peter Schiff Quotes

If you think mutual funds aren’t a flagrant enough example of conflict of interest, try hedge funds.

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.

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.

The Constitution denies the states the power to make anything other than gold or silver coins legal tender in payment of debts.

Too many people in Connecticut are struggling right now, and the last thing we need is meddling politicians making things worse. Only by cutting deficit spending, reducing burdensome regulations, and letting people keep more of their hard-earned dollars will we get our economy back on track.

Real economic growth emanates from increased productivity, which tends to hold prices down.

[Consumer credit] is like giving yourself a blood transfusion from your left arm to your right. Nothing is accomplished, except the possibility of spilling blood on the floor. But it's not even that benign.

Authors@Google: Peter Schiff (2009)

Here’s why I would recommend against [selling the U.S. stock markets short]....Retail brokers normally require investors to hold any short-sale proceeds in U.S. dollars, usually earning no interest. The dollar, seen through my famously jaundiced eye, could lose more purchasing power than the security you sold short lost value....I’ve got a much better idea, which is to borrow dollars and spend them to acquire foreign income-producing assets, using the income to pay the interest.

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.

And the reason the federal government wasn’t given that power [to create paper money or issue bills of credit] was because the framers didn’t want it to have the power to create inflation. They had just experienced it firsthand with the Continental dollar, which ended up being worth around 10 cents and gave rise to the expression “not worth a Continental.”

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.

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.

By historical standards and given the gloomy corporate profits outlook in an environment of high corporate debt and rising interest rates, the Dow Jones Industrial Average is considerably overvalued at late-2006 levels and should be avoided. I say that, even setting aside the imminent prospect of a collapsed dollar and the recession and hyperinflation that would accompany it.

If anyone was questioning whether or not Peter Schiff was truly a Republican, he's certainly made it clear today. After eight years of the Bush Administration's lax regulation and market-first mentality, the last thing we need is to further reduce regulation and allow Wall Street to run the show. Chris Dodd is leading the way to put a balance back into a system that for years has been too far out of whack and ensure that consumers are protected first and foremost.