37 Peter Schiff Quotes to Inspire You On The Road to Financial Freedom

Updated: Jul 28, 2020

Birth: March 23, 1963, New Haven, Connecticut, USA

Peter Schiff is an American libertarian, stockbroker, financial commentator, economist and radio personality. Westport is the CEO and global strategist of Euro Pacific Capital Inc., a Connecticut-based broker. Most people know him as an economist who is against Bitcoin and strongly defends gold.

He is also an author with worldwide best-selling books:

“If the value of the dollar goes down faster than the value of an hour of work, your nominal wages will go up. But that’s still a wage reduction, because this inflation will drive up the price of consumer goods even faster. If your wages rise slower than your cost of living, you’re getting poorer, but you might not notice it as easily, which is good for the politicians.” /Peter Schiff
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./Peter Schiff
“Because the private sector originated subprime loans without any official government backing, many like to blame capitalism, or more specifically Wall Street greed, for the problem. But take the Fed and Fannie and Freddie out of the picture, and subprime would have been a trivial part of the mortgage market.” /Peter Schiff
“Most important, though, was the way this string of bailouts fit the government pattern: prevent the economy from correcting itself. Once again, rather than let an inefficient allocation of resources shake itself out, politicians and central bankers decided that the right cure for a drinking binge was “the hair of the dog that bit you.” That is, when confronted with a crisis caused by government-created moral hazard, cheap money, and central planning, Washington responded with more moral hazard, even cheaper money, and heightened central planning.” /Peter Schiff
Printing money creates inflation, which weakens an economy. Unfortunately, this kind of common-sense thinking never seems to penetrate academic circles./Peter Schiff

“We are headed for a much morse financial crisis than the one we experienced in '08 [2008] and we are headed for a much greater recession than we lived through following that crisis; the one we called the Great Recession. And what's going to make it so much worse is, it's going to be inflationary. Consumer prices are gonna be going up as the economyis going down.” /Peter Schiff
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
“If you have a workplace openly antagonistic to meritocracy, you will (a) attract the unmotivated, (b) drive out the motivated, and (c) suck the motivation out of those who remain./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./Peter Schiff
“(You can watch this highly entertaining video, “Is a College Degree Worth the Cost, You Decide,” either by going to my YouTube channel, “The Schiff Report,” or by searching for the title on YouTube.) The reason that so/Peter Schiff

“Former Federal Reserve chairman Alan Greenspan has actually argued that the federal government should buy and destroy surplus houses as a solution to the housing crisis. According to Greenspan, the problem is that prices are too low. If we reduced the supply of houses, prices would rise. While Greenspan is correct, the destruction of our housing stock so that the remaining homes will be more valuable is the ultimate in economic folly./Peter Schiff
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
“I don’t expect policymakers to adopt my plan any time soon. I think it will take some serious economic pain before politicians are willing to do anything outside of the ordinary. When the situation is ugly, Washington will have to consider the sorts of ideas I prescribe./Peter Schiff
“For those still looking for a real-world example of how a minimum wage destroys jobs, there is no better example than American Samoa. In 2007 the U.S. Congress applied the federal minimum wage to Samoa, a U.S. territory. The increases walloped the Samoan economy, with the unemployed rate soaring to 30 percent and inflation hitting double digits. Its largest employer, Chicken of the Sea, shut down its Samoan canning operation completely in 2009, laying off 2,041 employees. The island’s second largest employer, StarKist, laid off 400 workers the following year with plans to lay off 400 more./Peter Schiff
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

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
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
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
“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
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./Peter Schiff

You have countries that have lived beyond their means, with bloated governments, huge trade deficits, and people living off the government. Then you have others where poor people are working hard and underconsuming and their governments are buying all this debt and propping up the extravagant countries. All of this has to change. There's a tremendous moral hazard involved with this system./Peter Schiff
I don't want the technology of the 1950s, but I want the free market of the 1950s./Peter Schiff
Once the dollar begins to collapse beneath the weight of all this new deficit spending, accumulation of contingency liabilities and the socialization of our economy, commodity prices and interest rates will head skyward./Peter Schiff
Greed is normally balanced by fear./Peter Schiff
You don't drive an economy by consuming - the consumer is not the engine, the consumer is the caboose./Peter Schiff

There are no checks and balances if the gov is wrong, if a private entrepreneur makes a mistake, he goes bankrupt, the losses are cut, if he bets wrong, he loses, if the gov bets wrong, they just get bigger, they just appropriate more money, it's a bottomless pit, because they either get it from the tax payers or run it off a printing press./Peter Schiff
Perhaps the most impo-rtant 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
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
It is production that creates purchasing power, not the printing press!/Peter Schiff
Often President Obama's worst critics are Senator Obama and candidate Obama./Peter Schiff

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