Peter Schiff Quotes

#1. The strength in gold is revealing the general weakness in the dollar.

Peter Schiff

#2. 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

#3. Minimum wage laws make it illegal for a worker to accept a job that pays less, even if the worker needs that job.

Peter Schiff

#4. 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

#5. Printing money is merely taxation in another form. Rather than robbing citizens of their money, government robs their money of its purchasing power.

Peter Schiff

#6. 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.

Peter Schiff

#7. 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.

Peter Schiff

#8. 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.

Peter Schiff

#9. Perhaps the most important reason to be skeptical of government inflation numbers is that the government, like a fox campaigning to guard a hen house, has many reasons to be disingenuous. As the world's largest debtor, the Federal Government is inflation's primary beneficiary.

Peter Schiff

#10. It is production that creates purchasing power, not the printing press!

Peter Schiff

#11. The real story of Detroit [ ... ] can be summed up in seven words. Private enterprise built it, government destroyed it.

Peter Schiff

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

Peter Schiff

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

Peter Schiff

#14. Keynesians are to economics what witch doctors are to medicine.

Peter Schiff

#15. People should have an escape valve for their money, their assets. If you have substantial financial assets, the government is going to confiscate the purchasing power of those assets and spend it.

Peter Schiff

#16. Printing money creates inflation, which weakens an economy. Unfortunately, this kind of common-sense thinking never seems to penetrate academic circles.

Peter Schiff

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

Peter Schiff

#18. 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.

Peter Schiff

#19. The U.S. dollar is in terminal decline. America is tragically bankrupt, unable to pay its lenders without printing the dollars to do so, and enmeshed in an economic depression. The clock is ticking until the dollar faces a crisis of confidence like every other bubble before it.

Peter Schiff

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

Peter Schiff

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

Peter Schiff

#22. 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

#23. The United States is like the Titanic, and I'm here with the lifeboat trying to get people to leave the ship ... I see a real financial crisis coming for the United States.

Peter Schiff

#24. The only way to buy more is to produce more.

Peter Schiff

#25. Greed is normally balanced by fear.

Peter Schiff

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

Peter Schiff

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

Peter Schiff

#28. 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.

Peter Schiff

#29. Wall Street is in trouble because Main Street is broke.

Peter Schiff

#30. We share management's vision that the recent regulatory changes, the large presence of Sprint Nextel in the 2.5 GHz band, and the near-term implementation of 4G systems make Oneida the right company in the right place at the right time.

Peter Schiff

#31. 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

#32. You're worth what you're worth

Peter Schiff

#33. We're on a collision course for disaster. All we can do, all your viewers can do is brace for impactBuy gold. Buy silver Get as far away as you can from U.S. currency and the U.S. economy.

Peter Schiff

#34. One day we're going to look back at $1,700 with nostalgia. People are going to be shocked at how inexpensive gold was when it could be snapped up for such a bargain price.

Peter Schiff

#35. 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

#36. You don't drive an economy by consuming - the consumer is not the engine, the consumer is the caboose.

Peter Schiff

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

Peter Schiff

#38. The government can't create jobs; they'll destroy jobs trying to do it. The government doesn't have any money; all they have is a printing press. We need to free markets to create jobs; if the government wants to help, they should reduce their burden on the economy.

Peter Schiff

#39. 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