Peter D. Schiff: Quotes about thinking

Peter D. Schiff is American entrepreneur, economist and author. Explore interesting quotes on thinking.

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

“The Founding Fathers, those who wrote the Constitution and founded the American Republic, they understood the benefits of sound money and the evils of paper money. They’ve put America on a gold standard from the very birth of the republic and we should heed their wise - they were very learned men. I think they were much more educated and understanding about economics then the people who lead the U. S. today. So, to try to suggest that we will have less robust economy if we went back to gold standard - mostly, that’s propaganda from Central Bankers and politicians, who want to scare us from going back to something that works, because when you go back to free market, the politicians and bankers will lose their power, and they want to maintain their power by scaring people into thinking that if we just go back to freedom and market forces, that’s somehow is going to be bad and we have to surrender our freedoms to politicians and bankers because they know much better than the market. They can define the proper rate of interest and they can manage the money supplier, centrally planning the economy, and it’s going to be more effective than free market capitalism - and that is just not the case.”

Peter D. Schiff

http://blogcritics.org/politics/article/peter-schiff-for-us-senate/http://rt.com/shows/sophieco/190800-economy-dollar-financial-armageddon/
Economic Views

“If you think mutual funds aren’t a flagrant enough example of conflict of interest, try hedge funds.”

Peter D. Schiff

Quotes from Crash Proof (2006)

“Think about all the rules and regulations American businesses have to deal with. How can we compete with nations that don’t impose those excessive burdens? Does anyone think that the United States could ever have become a great power with all the rules, regulations, and taxation that exist today?”

Peter D. Schiff

Quotes from Crash Proof (2006)

“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.”

Peter D. Schiff

2010 Senate Campaign <br class="br">Source: Hard-Core Free-Marketeer A Conversation With Peter Schiff: Investor, Critic, Candidate, Ahran, Frank, Sunday, October 4, 2009, Outlook & Opinions, 2009-10-03 http://www.washingtonpost.com/wp-dyn/content/article/2009/10/01/AR2009100103890.html,

“Existing regulators had all the powers they needed, and more, and they failed miserably to foresee and prevent this crisis. Chris Dodd is now asking us to put all our eggs in one basket and trust a "super regulatory agency." He should know better than to centralize power in the hands of Washington bureaucrats - it's precisely the arrangement that caused our current problems. I think most Connecticut voters know that we need fewer czars in Washington, not more. As long as Fannie and Freddie and Congress are meddling with the economy, changing the structure of the regulators is basically rearranging deck chairs on the Titanic.”

Peter D. Schiff

2010 Senate Campaign, Remarks regarding Christopher Dodd