Peter Schiff Quotes

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.

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.

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.

The real bubble in China is in US Treasuries, in US dollars.

Paying attention to the CPI and the others is like leaving your house on a rainy day without carrying an umbrella because a government weather report told you it was sunny.

Existing regulators had all the powers they needed, and more, and they failed miserably to foresee and prevent this crisis. Chris Dodd is now asking us to put all our eggs in one basket and trust a "super regulatory agency." He should know better than to centralize power in the hands of Washington bureaucrats - it's precisely the arrangement that caused our current problems. I think most Connecticut voters know that we need fewer czars in Washington, not more. As long as Fannie and Freddie and Congress are meddling with the economy, changing the structure of the regulators is basically rearranging deck chairs on the Titanic.

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.

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.

There are no checks and balances if the gov is wrong, if a private entrepreneur makes a mistake, he goes bankrupt, the losses are cut, if he bets wrong, he loses, if the gov bets wrong, they just get bigger, they just appropriate more money, it's a bottomless pit, because they either get it from the tax payers or run it off a printing press.

While we’ve been buying time, things have gone from bad to worse. We have debased our currency so much it is already beyond control. We just haven’t felt the full impact yet because we have had massive artificial support from abroad.

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

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.

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.

Authors@Google: Peter Schiff (2009)

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