Peter Schiff Famous Quotes
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Printing money creates inflation, which weakens an economy. Unfortunately, this kind of common-sense thinking never seems to penetrate academic circles.
When private industry makes a mistake, it gets corrected and goes away. As governments make mistakes, it gets bigger, bigger and bigger and they make more, more and more because as they run out of money, they just ask for more and so they get rewarded for making mistakes. In the meantime that is exactly what we are doing by subsidizing companies which are failing, we have a reverse Darwinism, we've got survival of the unfittest, the companies and people that have made terrible mistakes are being rewarded and other people are being punished and being taxed.
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.
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.
The strength in gold is revealing the general weakness in the dollar.
The real story of Detroit [ ... ] can be summed up in seven words. Private enterprise built it, government destroyed it.
The real bubble in China is in US Treasuries, in US dollars
A federal bailout would spare California from having to make spending cuts needed to bring its budget into balance. The matter has become urgent since California voters rejected several tax-hiking ballot initiatives. Rather than taking the vote as a signal to dramatically curtail spending, the state turned to the feds. If they get a free pass, the politicians can avoid fixing any of their past mistakes or preparing California for the future.
Printing money is merely taxation in another form. Rather than robbing citizens of their money, government robs their money of its purchasing power.
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.
Confidence by itself, unless it has a valid basis, can get us into trouble.
You don't drive an economy by consuming - the consumer is not the engine, the consumer is the caboose.
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.
All those commodities are going to have to rise in value as we are in short supply and we are printing too much money.
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.
Mutual funds are an overrated investment heavily promoted by Wall Street.
Keynesians are to economics what witch doctors are to medicine.
The only way to buy more is to produce more.
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.
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.
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.
Wall Street is in trouble because Main Street is broke.
I don't want the technology of the 1950s, but I want the free market of the 1950s.
Greed is normally balanced by fear.
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.
Often President Obama's worst critics are Senator Obama and candidate Obama.
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.
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.
Minimum wage laws make it illegal for a worker to accept a job that pays less, even if the worker needs that job.
It is production that creates purchasing power, not the printing press!
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.