Peter Schiff Quotes

17 Sourced Quotes

The Founding Fathers, those who wrote the Constitution and founded the American Republic, they understood the benefits of sound money and the evils of paper money. They've put America on a gold standard from the very birth of the republic and we should heed their wise - they were very learned men. I think they were much more educated and understanding about economics then the people who lead the U.S. today.

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

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

Peter Schiff
Borrowing to build factories is not the economic equivalent of borrowing to buy television sets, and it's amazing just how few modern economists can see the difference... Borrowing to produce is the way poor countries become rich. Borrowing to consume is the way rich countries become poor. A vivid example of the latter is the stream of container ships unloading at U.S. ports and going back empty because we have nothing to ship.

Peter Schiff
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.

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

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

Peter Schiff
In the long run, the euro as a fiat currency may very well fail like the U.S. dollar.
On 2006, before Greece Crisis

Peter Schiff
The process of dumbing people down so they'll buy official figures showing inflation "under control" at levels of 1 to 2 percent or so (when it is actually more like 8 to 9 percent) is actually a fairly recent development.

Peter Schiff
Think about all the rules and regulations American businesses have to deal with. How can we compete with nations that don't impose those excessive burdens? Does anyone think that the United States could ever have become a great power with all the rules, regulations, and taxation that exist today?

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

Peter Schiff
[Consumer credit] is like giving yourself a blood transfusion from your left arm to your right. Nothing is accomplished, except the possibility of spilling blood on the floor. But it's not even that benign.

Peter Schiff
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.

Peter Schiff
Nobody is entitled to someone else's money, that is the bottom line. People think they are entitled to it because hey think they paid into it, nobody paid into anything, it was a fraud. Every single dollar that the gov collected in social security taxes, has already been spent, there is nothing there, there is no money, so the only money the government gets to make current payment is the money it can take from people who are still working.

Peter Schiff
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.
On 2006, before Greece Crisis

Peter Schiff
The Constitution denies the states the power to make anything other than gold or silver coins legal tender in payment of debts.

Peter Schiff