Schiff was an economic advisor to the Libertarian Party nominee, Ron Paul, for his 2008 presidential campaign.

His parents’ divorce made him move from Connecticut to Southern California. He is critical of the US government's efforts to "ease the pain" with economic stimulus packages and bailout, as he believes that replacing "legitimate savings with a printing press" would result in asset price inflation, eventual consumer price inflation, and if left unchecked, could potentially result in hyperinflation. Deregulation and lower taxes would stimulate the economy. Listening to Peter Schiff on how an economy grows and why it crashes may be good entertainment, but it won’t get you very far. [63], The general election was won by the Democratic Party primary winner, Richard Blumenthal. Trade deficit in manufactured goods hits all time record high. Michael Shedlock once analyzed Schiff portfolio performance and wrote “I have talked with many who claim they have invested with Schiff and are down anywhere from 40% to 70% in 2008.”. He is perhaps best known as a businessman, stockbroker, commentator and investor, but is also a published author.
Schiff earned his high school degree from Beverly Hills High School, and he earned his Bachelor of Science and a double major in accounting and financing, in 1987, from the University of California.

"[15] On December 31, 2006, in a telecast debate on Fox News, Schiff forecast that "what's going to happen in 2007 is that real estate prices," which had peaked in December 2005,[16] "are going to come crashing back down to Earth. [20] He attributed the low savings rate to what he asserts are high inflation and artificially low interest rates set by the Federal Reserve.[21]. [60][61], At the May 2010 Republican convention, Linda McMahon received the most delegate votes but not enough to prevent an August primary election from Rob Simmons. He understands the value of technology as a payment platform rather than a currency. Its investment strategy focuses on long-term wealth savings in the face of a declining US dollar with emphasis on emerging market and commodity focused investments.

Caution is a virtue for investors, specifically in a lengthy bull market such as the one we’re currently enjoying. Required fields are marked *.

Lower-skilled government workers retiring with multimillion dollar pensions paid for by private sector. . He also hosts his own radio and television shows and runs a video blog on financial matters that is heavily subscribed. Almost any mention of Schiff’s name on the internet is not far from a repetition of that fact, and it continues to buoy his reputation to this day. "[54] In June 2009, Schiff commissioned a poll of likely voters which indicated that he trailed Dodd in popularity by only four percentage points. Peter Schiff has appeared four[72] times as a guest on Joe Rogan's YouTube series and podcast.

Schiff started his career as a stock broker and went on to establish various financial establishments including a brokerage firm and bank. Schiff failed to qualify for the primary at the convention but became the only Republican candidate to successfully petition on to the ballot. Here's a photo of us standing with our good friend, Rand. All rights reserved. Schiff is one of the few Libertarians who is sceptic about Bitcoins. He is also involved in various roles in other financial services companies, including Euro Pacific Asset Management, an independent investment advisor,[3] Schiff Gold (formerly Euro Pacific Precious Metals),[4] a precious metals dealer, and Euro Pacific Bank, a full-reserve bank. His comments on the stock market in the year 2018 are on point and profound where a spectator would find himself eager to know more about the economy through the eyes of Peter Schiff. Shownotes. Download. "[34] Later that week, an article appeared in the Wall Street Journal reporting that Schiff's broker-dealer firm had "advised its clients to bet that the dollar would weaken significantly and that foreign stocks would outpace their U.S. peers" but the dollar later advanced against most currencies, "magnifying the losses from foreign stocks. [24], In a March 2009 speech, Schiff said that it would be impossible for the US public debt to China to be repaid unless the US dollar's value is substantially diluted through inflation.

That will be the toxin that completely destroys the economy. His firm has its current headquarters in Westport, Connecticut and has several branches in Arizona, Florida, California, Los Angeles and New York City. He, within five years, obtained a thriving brokerage firm with a partner and called it Euro Pacific Capital where the office was located in Connecticut but had several branches in Florida, Los Angeles, New York City, etc. In September 2009, with gold below $1,000 per ounce, Schiff said that he foresaw gold at over $5000 per ounce in the future, and that the stock market rally which began that year was a "rally in a bear market. Schiff's critics point out that although asset price inflation has been significant, consumer price inflation rates have remained very low in the five years that followed despite his predictions. The Peter Schiff Show Podcast. Today’s investors need to be intensely thoughtful about the composition of their portfolios, as tech stocks continue to froth up and the housing market starts to resemble that of a decade ago. Prior to the financial crisis Peter frequently appeared on CNBC, Fox News and Bloomberg to voice his opinions on the US economy and financial markets. Schiff did not endorse McMahon in the 2012 Republican primary but rather her opponent, former Representative Christopher Shays.