Category Archives: Interviews

Peter Schiff appeared on CNBC this afternoon to explain why the United States is not immune to the problems Cyprus is experiencing.

“Because we have this deposit insurance, American depositors don’t care how reckless their banks are, and the banks don’t care, because the depositors don’t care. So it’s a terrible system, and eventually it is going to implode. People who have money on deposit in US banks are going to take huge losses one way or another. Either they’re going to lose their deposits, or their deposits are going to lose value because of all the inflation that is going to have to be created to bail out the banks.”

Yesterday, Fox Business interviewed Peter Schiff about the latest report on retail sales and the false confidence of stock market investors.

“The increase in retail sales is mainly the result of prices going up. Sure, people are spending more money, because things cost more. In fact, the increase in import prices matched the increase in retail sales. Of course, if you look at the savings data that came out last week, where the savings rate plunged – how are Americans supporting higher priced gasoline and higher priced food? They’re borrowing money, they’re digging into their savings. They’re struggling just to make ends meet.”

With Rand Paul in the news, we wanted to bring to your attention one of Peter Schiff’s recent interviews with the Kentucky Senator, conducted in December of 2012. They spoke about the value of capitalism and the lack of will in Washington to pass a balanced budget or to even consider tax or entitlement reforms. Listen to the Peter Schiff Show on Monday through Friday, from 10 AM to Noon ET, at SchiffRadio.com.

“Here’s the problem: we lurch from one deadline to the next, but in between the deadlines, nobody’s doing a damn thing. There’s no committee up here to reform social security, no committee action on medicare, no committee action on tax reform. But when a deadline comes up, they…throw their hands up, ‘We’ll just have to raise some taxes.'” -Rand Paul

Peter Schiff appeared on Al Jazeera’s Inside Story last week to comment on the high bonuses offered by banks that received bailout money.

“If we remove the moral hazard, if the central banks make it clear that they’re not going to bail out anybody, and if they stop force-feeding cheap money into the economy, which makes it so attractive for financial institutions to speculate, all these problems will be solved on their own. Government doesn’t have to get involved. Government is the source of all these problems, it’s not going to solve them.”

Peter’s Appearance Begins at 6:19

Peter Schiff appeared on Fox Business yesterday, talking about the ineffectual sequester, the rising stock market, and the real crisis that will come in the bond market. Look out for the bottom before Obama is out of office.

“I’m more confident of this call than I was about the call I made regarding the housing bubble and the financial crisis. And I think this should be even more obvious. What’s amazing to me is the same people that missed the last crisis are oblivious to this one. They’ve learned nothing from their past mistakes. They just keep on repeating them.”