Peter Schiff

Peter David Schiff ( born March 23, 1963) is an American economist, economic commentator, author and stock broker. He is the president of Euro Pacific Capital Inc., an investment company from Darien, and was a candidate for the U.S. Senate in 2010.

He is known especially for his gloomy analyzes the future of the U.S. economy; in particular, he has predicted the financial crisis in 2007.

Life

After completing his studies at the University of California, Berkeley, began his career as a stockbroker ship at Lehman Brothers.

Later ship acquired the company Euro Pacific Capital, a brokerage firm founded in 1980 with no customers or revenues. Today the company thousands of clients nationwide and has six offices. The headquarters is located since 2003 in Westport (Connecticut).

According to a 2005 published in the newspaper The Advocate of Stamford items ship moved the firm to Darien, Connecticut to find brokers who " think like him ". The New York Metropolitan Area has the highest concentration of brokers in the country, what it lighter, according to the ship to find staff. The company has offices in both Newport Beach, California, as well as in Scottsdale, Arizona, Palm Beach, Florida, Los Angeles and New York. Euro Pacific Capital also holds exclusive rights to the mediation of Perth Mint gold products in the United States.

Ship is a recurring guest in American television news and operates an internet radio.

For his book How an economy is growing ... and why he will crash in 2011 received the International Corine Literature Prize.

Policy

Peter Schiff was an economic policy advisor Ron Paul during his candidacy for the presidential election in the United States in 2008, he expressly supported Ron Paul's economic plan and said:. "We need a plan that stimulates the formation of savings and production, not more of this ruthless lending and consumption that has led us into this mess. Ron Paul's plan is the only one facing in the right direction. If you want a significant change, then Ron Paul is the only candidate for that. "

Candidacy for the U.S. Senate in 2010

In December 2008, some supporters ship from California created a web page, where they wanted to encourage Peter Schiff to the incumbent Senator in Connecticut, Chris Dodd challenge. 21 February 2009 donations totaling $ 20,000 for the campaign were collected.

In May 2009, the ship said in his video blog that he is seriously considering to run for the Senate. On May 26, he responded to the question of the Washington Post for his candidacy that it was " better than 50-50 " stand and he will decide shortly.

A ship commissioned survey of voters in Connecticut revealed in June 2009 that he was lying only four percent behind incumbent Chris Dodd. On 9 July 2009 called ship in a video blog this on to donate to his campaign. According to the company to find out this way, if people who really cares about freedom, sound money and the constitution are prepared to contribute to his campaign. He subsequently received over 10,000 donations and many e-mails from all over the world.

Then, pointing his ship possible candidacy in the program The Daily Show on 9 June 2009. On September 17, 2009, he announced in the MSNBC Morning Joe show officially his candidacy. He strives for a nomination as the Republican candidate.

In response, he received more than 10,000 telephone calls and letters from supporters and raised over 1,950,000 U.S. dollars donations. Peter Schiff explains, he intended to bring his experience and his commitment to the taxpayers of Connecticut. He may make mistakes in this campaign, but he would not commit any error in the representation in the Senate. He looked forward to an exciting campaign, in which he wanted the people of Connecticut closer to bring his vision.

A spokeswoman for the Democratic Party, Colleen Flanagan, commented by saying that Peter Schiff despite his groupiehaften followers hardly qualifying as a candidate for the U.S. Senate bring along. He had even admitted publicly that he could no longer remember when he had last used. To which ship that the fact that he had no experience when you shut economies of the country and the banking system, was his greatest quality feature.

In the primaries, 30 August 2010 ship lost with 23% of the vote against Linda McMahon ( 49%) and Rob Simmons ( 28%).

Opinions on economic policy

In an interview in 2002 with Southland Today said ship, that the funds of the dotcom bubble move on and he still foresee much bigger problems for the future.

In an interview in August 2006, ship said: "The United States economy is like the Titanic and I am here with the lifeboat and try people from leaving the ship to convince, I see a real financial crisis on the United States to come. " On 31. December 2006, in a debate on Fox News, Ship predicted that house prices would crash.

During these appearances on Fox News or in the financial news of CNBC criticized ship questionable factors such as the lack of guidelines for lending and property speculation. In a television interview to the Bloomberg 13 December 2007 ship added that he believed in an extension of the crisis on the credit card industry.

Ship also addresses the role of U.S. consumers, many of whom think they would do the world a favor by consuming the things that made ​​the rest of the world. He makes it clear that this relationship will go faster still, as many think, to end - with negative consequences for the United States. Ship is quoted: "Consumption is the reward of production" - by which is meant that the United States can not afford to not have their own production further consumption. Ship represents - as well as other well-known Supported by the Austrian school of economics - the view that not consumption, but saving and production promote sustainable economic growth.

In an article published on the website of the Ludwig von Mises Institute Interview ship reported that it was his father, Irwin Schiff, been, had made him familiar with the Austrian School of economics.

Peter Schiff also considers the current financial crisis would not be the problem, but the solution, if not the U.S. government would do all in our power to prevent the emergence of this crisis, but what they just delaying and increasing the national debt immense. He explains the transition from the old practice of Leihens and consumption down to save and produce could not be done without a deep recession, given the instantaneous imbalance in the U.S. economy. Ship criticized in this train the efforts of the government, " to alleviate pain " with economic stimulus programs and grants. According to Peter Schiff, this will only worsen the situation and could even result in hyperinflation, the government should continue its policy.

Ship supports the reduction of business regulation. He is concerned that Barack Obama's administration could even increase this regulation.

He criticized the low savings rate of the United States as a deep-seated evil and refers to the transformation of the United States from the largest creditor nation in the world in 1970 through to the largest debtor nation in 2000. The low savings rate can be noisy ship of inflation and artificially low interest rates attributed by the Federal Reserve.

During a speech in March 2009 in Omaha, Nebraska, said ship, that it was impossible for the U.S. to repay the huge debts to China before it would devalue the U.S. dollar is not significantly influenced by inflation. Ship is convinced that the gold price will climb in a few years to 5000 U.S. dollars, and that the recovery of the U.S. stock market will be in 2009 was short-lived. Since 2007, Peter Schiff has repeated several times that the U.S. government brings about hyperinflation if you do not leave the current price.

Works

Ship is the author / co-author of the following books:

• Crash Proof: How to Profit from the Coming Economic Collapse. 2007, ISBN 978-0-470-04360-8.
• The Little Book of Bull Moves in Bear Market. 2008, ISBN 978-0-470-38378-0.
• Crash Proof 2.0: How to Profit From the Economic Collapse. 2009, ISBN 978-0-470-47453-2.
• How to Economy Grows and Why It Crashes. 2010, ISBN 978-0-470-52670-5. German: How an economy is growing ... and why they crash. Stock market book publishing, Kulmbach 2011, ISBN 978-3-941493-75-9.