Peter D. Schiff: Dollar

Peter D. Schiff is American entrepreneur, economist and author. Explore interesting quotes on dollar.
Peter D. Schiff: 80 quotes0 likes

“Nobody is entitled to someone else's money, that is the bottom line. People think they are entitled to it because they 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. Its a transfer from the working poor in many cases to the retired rich. We don't have the money, I feel bad for the fact people made promises we can't keep, I feel bad for the people that invested with Bernie Madoff and lost their money, but its the same principle, its the same Ponzi scheme. We have to put an end to it, we have to find real solution to these problems because if we keep on denying that they exist and keep on spending money, we're going to destroy the value of everyone's benefits.”

Peter D. Schiff

RTC, Avon, CT, 10th May 2010

“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 D. Schiff

Quotes from Crash Proof (2006)

“The real bubble in China is in US Treasuries, in US dollars.”

Peter D. Schiff

Wall Street Unspun, 3 March 2010

“In the long run, the euro as a fiat currency may very well fail like the U. S. dollar. (2006, before Greece)”

Peter D. Schiff

Quotes from Crash Proof (2006)

“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.””

Peter D. Schiff

Quotes from Crash Proof (2006)

“Here’s why I would recommend against [selling the U. S. stock markets short]…. Retail brokers normally require investors to hold any short-sale proceeds in U. S. dollars, usually earning no interest. The dollar, seen through my famously jaundiced eye, could lose more purchasing power than the security you sold short lost value…. I’ve got a much better idea, which is to borrow dollars and spend them to acquire foreign income-producing assets, using the income to pay the interest.”

Peter D. Schiff

Quotes from Crash Proof (2006)

“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.”

Peter D. Schiff

2010 Senate Campaign

“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.”

Peter D. Schiff

Quotes from Crash Proof (2006)