Peter Schiff
Peter Schiff
Peter David Schiffis an American stockbroker, author, and one-time Senate candidate. He has appeared as a guest on numerous financial television shows and has been quoted in major print publications as a financial analyst. He is host of The Peter Schiff Show, an audio show broadcast on terrestrial and Internet radio, and he was formerly host of an Internet podcast called Wall Street Unspun, now archived as podcasts...
NationalityAmerican
ProfessionBusinessman
Date of Birth23 March 1963
CountryUnited States of America
gold debt able
Gold has intrinsic value. The problem with the dollar is it has no intrinsic value. And if the Federal Reserve is going to spend trillions of them to buy up all these bad mortgages and all other kinds of bad debt, the dollar is going to lose all of its value. Gold will store its value, and you'll always be able to buy more food with your gold.
printing-money giving debt
At some point, the dollar has to give. You can't just keep printing money, and monetizing debt, and buying bonds, without the dollar imploding.
money smaller stocks
Some of the smaller stocks have been moving, but the big stocks are going to take real money to move.
belief bought company price upset
I would be upset if I bought a company (stock) on the belief that it was a play on the price of copper.
advice avoid lose wealth
You are going to lose wealth in U.S. stocks. My advice is to avoid them if at all possible.
main
Wall Street is in trouble because Main Street is broke.
agenda government reason wants
The left-wing agenda wants us to think that the reason there was a depression was because the government didn't do anything. That's not true.
dollar loses power purchasing relative somebody
When the dollar collapses, it's not doing it in a vacuum. If the dollar loses value, it's doing so relative to some other currency. So the purchasing power that we lose, somebody else gets.
bail companies cost hundred millions prop taught wall wrongs
My mother always taught me that two wrongs don't make a right. We shouldn't bail out Wall Street. We shouldn't bail out Detroit. It will cost the economy more than the cost of the bailout which is more than the politicians think. We'll run into the hundred of millions to prop these companies up.
accept although america disaster dump economic economists exchange fact foreign foreigners goods hope microcosm nation orleans paper policies production rather reckoning refuse reliance savings simply situation strategy widely
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.
accept although america disaster dump economic economists economy-and-economics exchange fact foreign foreigners goods hope microcosm nation orleans paper policies production rather reckoning refuse reliance savings simply situation strategy widely
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.
determine extended marriage whether
It's up to the legislature to determine whether marriage should be extended to same-sex marriage,
dump flawed rates sending study
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.
america consequences creating economy enables impervious later merely postponed succeeded
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.