Peter Schiff Quotes - Page 2

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• Contrary to the rhetoric emanating from the American left, the 'rich' are currently paying a lot more than 'their fair share.' It is only a handful of mega-rich, those whose entire incomes are derived from dividends and capital gains, rather than salaries or business profits, who have the ability to pay lower tax rates than some members of the middle class. The left knows this but continues to build their 'freeloading millionaire' straw man because it makes good politics.

  Peter Schiff

  Men, Class, Salary

  "There's A Hidden 9 In Herman Cain's 9-9-9 Plan". www.businessinsider.com. October 18, 2011.

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• I don't want the technology of the 1950s, but I want the free market of the 1950s.

  Peter Schiff

  Technology, Want, Free Market

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• The primary factor that enables our government to peddle economic snake oil is the dollar's unique role as the world's reserve currency, and our creditors' willingness to preserve its status. By buying up dollars and loaning them back to us through Treasury debt, productive countries give American politicians cart blanche to play Santa Claus.

  Peter Schiff

  Country, Unique, Play

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• Once the dollar begins to collapse beneath the weight of all this new deficit spending, accumulation of contingency liabilities and the socialization of our economy, commodity prices and interest rates will head skyward.

  Peter Schiff

  Commodity Prices, Weight, Dollars

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

  Peter Schiff

  Real, Dollars, China

  "Wall Street Unspun" with Peter Schiff, March 03, 2010.

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• Fifty-dollar oil is just another stop on the road to much higher crude prices.

  Peter Schiff

  Oil, Dollars, Fifty

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• 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.

  Peter Schiff

  Gold, Dollars, Debt

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• Once the government runs out of foreign and private sector bidders for new Treasurys, the Federal Reserve will be the only buyer, and the hyper-inflation cat will be completely out of the bag.

  Peter Schiff

  Running, Cat, Government

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• Most paper money initially existed as a substitute for gold. That's what gave it value. But right now what gives a currency value is other currency. Most countries hold reserves and the reserves are other currencies. If you are a backing up the euro with the dollar, what's backing up the dollar? I don't think it is going to go to a point where all you have is coins and bars of gold, but I do think that we are going to have to go back to a monetary system based in gold, not based on paper.

  Peter Schiff

  Country, Thinking, Giving

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• Mutual funds are an overrated investment heavily promoted by Wall Street.

  Peter Schiff

  Wall, Mutual Fund, Investment

  Peter D. Schiff (2011). “Crash Proof 2.0: How to Profit From the Economic Collapse”, p.135, John Wiley & Sons

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• In a speech at the just-concluded G20 summit in London, President Obama urged Americans not to let their fears crimp their spending. It would be unwise, he argued, for Americans to let the fear of job loss, lack of savings, unpaid bills, credit card debt or student loans deter them from making major purchases. According to the president, 'we must spend now as an investment for the future'....instead of saving for the future, we must spend for the future.

  Peter Schiff

  Jobs, Loss, President

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• The Fed is the biggest enemy of this economy. In fact, Ben Bernanke, as far as I'm concerned, he's public enemy No. 1. We're never going to have a recovery while this guy's in charge.

  Peter Schiff

  Recovery, Guy, Enemy

  FaceBook post by Peter Schiff from Mar 27, 2012

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• We are an indebted family going out for an expensive meal to celebrate getting approved foe a new credit card. It might feel good (at the time), but we're still simply delaying the inevitable.

  Peter Schiff

  Feel Good, Meals, Going Out

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• You're worth what you're worth

  Peter Schiff

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• The president says we need to raise the debt ceiling because America pays its bills. No if we paid our bills we wouldn't have all this debt. The reason we have to raise the debt ceiling is because we can't pay our bills and we have to borrow money because we don't have any money to pay our bills.

  Peter Schiff

  Philosophy, America, Political

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• Confidence by itself, unless it has a valid basis, can get us into trouble.

  Peter Schiff

  Trouble, Bases

  Peter D. Schiff, John Downes (2011). “Crash Proof 2.0: How to Profit From the Economic Collapse”, p.52, John Wiley & Sons

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• There is simply no way to sustain an economy based on consumer credit.

  Peter Schiff

  Credit, Way, Economy

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• I think there are a lot of people out there that are speculating in the stock market. They have all kinds of tech stocks or social media stocks. If you want to gamble in the stock market, I would much rather gamble on a mining stock than a social media stock.

  Peter Schiff

  Thinking, People, Social Media

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• Well, I don't like the UK. I haven't ever been a fan of the pound (sterling),
  and even though they are taking some steps in the right direction - more so than the US - in addressing some of their problems, I still think they're doing it much too slowly. So, I think that the pound will continue to lose value relative to some of these other currencies. I ultimately expect the pound to rise against the dollar, but that's not the best way to take advantage of dollar weakness.

  Peter Schiff

  Thinking, Weakness, Fans

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• Over the past decade or so, you have seen the flip side of that as you've seen stock prices have come down a lot relative to gold. Now you are getting a change where people are more comfortable holding gold because in the rear-view mirror it doesn't look so bad for gold. Bonds have not come down as much relative to gold, but I think the bond bubble is going to burst and will be falling for years too. And gold will look that much better.

  Peter Schiff

  Fall, Past, Thinking

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• Gold is not overvalued at $500, and gold will not be overvalued at $1,500 or $2,000. The real money is buying gold and putting it away.

  Peter Schiff

  Real, Gold, Buying Gold

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• What got us out of the depression was capitalism, and we would have gotten out a lot quicker had the government not intervened.

  Peter Schiff

  Government, Capitalism

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• The Philadelphia Feds manufacturers report for September revealed that despite a sharp slowdown, its prices paid index surged 257 points.

  Peter Schiff

  Philadelphia, September, Feds

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• Often President Obama's worst critics are Senator Obama and candidate Obama.

  Peter Schiff

  President, Worst, Critics

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• All those commodities are going to have to rise in value as we are in short supply and we are printing too much money.

  Peter Schiff

  Too Much, Commodity, Printing

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