Peter Schiff quotes - page 2

By historical standards and given the gloomy corporate profits outlook in an environment of high corporate debt and rising interest rates, the Dow Jones Industrial Average is considerably overvalued at late-2006 levels and should be avoided. I say that, even setting aside the imminent prospect of a collapsed dollar and the recession and hyperinflation that would accompany it. (Peter Schiff)
Real economic growth emanates from increased productivity, which tends to hold prices down. View quote
Peter Schiff
Transferring regulatory authority from one unaccountable agency to another will not solve any problems. View quote
Peter Schiff
In the long run, the euro as a fiat currency may very well fail like the U. S. dollar. (2006, before Greece) View quote
Peter Schiff
The Constitution denies the states the power to make anything other than gold or silver coins legal tender in payment of debts. View quote
Peter Schiff
If anyone was questioning whether or not Peter Schiff was truly a Republican, he's certainly made it clear today. After eight years of the Bush Administration's lax regulation and market-first mentality, the last thing we need is to further reduce regulation and allow Wall Street to run the show. Chris Dodd is leading the way to put a balance back into a system that for years has been too far out of whack and ensure that consumers are protected first and foremost. View quote
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. View quote
Peter Schiff
Too many people in Connecticut are struggling right now, and the last thing we need is meddling politicians making things worse. Only by cutting deficit spending, reducing burdensome regulations, and letting people keep more of their hard-earned dollars will we get our economy back on track. View quote
Peter Schiff
I'm interrupting my career. It's not like I want my new career in politics. But I'm willing to interrupt it the same way that somebody interrupted their career and joined World War II and went off to fight the Nazis. I don't think that I'm that heroic, and I don't think I'm risking as much as a soldier. But it's the same principle. View quote
Peter Schiff
Paying attention to the CPI and the others is like leaving your house on a rainy day without carrying an umbrella because a government weather report told you it was sunny. View quote
Peter Schiff
Today, of course, our current inflation problem is firmly rooted in the irresponsible monetary policies of maestro Greenspan. (Peter Schiff)
And the reason the federal government wasn't given that power [to create paper money or issue bills of credit] was because the framers didn't want it to have the power to create inflation. They had just experienced it firsthand with the Continental dollar, which ended up being worth around 10 cents and gave rise to the expression "not worth a Continental.”. View quote
Peter Schiff
Legitimate economic expansions, financed by actual savings, do not need busts. It is only the inflation-induced varieties that sow the seeds of their own destruction. View quote
Peter Schiff
Inflation is the unhappy result of our monetary mismanagement and the ultimate cause of the coming economic collapse. View quote
Peter Schiff
Stocks that are selected conservatively and pay high cash dividends [higher than bonds] are, in fact, my favorite investment alternative, especially where there is the prospect of currency profits.... View quote
Peter Schiff
Non-dividend-paying growth stocks can be attractive but should be viewed as speculation rather than investing. View quote
Peter Schiff
... it is precisely because it is not a democracy that China will likely be so successful...What is of vital importance for economic success is economic freedom, meaning the protection of private property, the rule of law, and minimal regulation and taxation, not the right to vote. View quote
Peter Schiff
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. View quote
Peter Schiff
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. View quote
Peter Schiff
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. View quote
Peter Schiff
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)
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. View quote
Peter Schiff
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. View quote
Peter Schiff
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. View quote
Peter Schiff