Category Archives: Peter’s Commentaries

Peter Schiff appeared on Yahoo! Finance yesterday to explain how an international currency war harms average citizens by allowing government to inflate away its debt. Unfortunately, this is one war the US is aiming win.

“What’s unique about a currency war, is that unlike a conventional war, the object in a currency war is to kill yourself. The country that wins is the country that inflicts the most damage on its own citizens, because when you debase your currency…you diminish the standard of living of your people. Because now their savings have less value, their wages have less value. Everything they need to buy is more expensive.

The real winner in a currency war is gold, because central banks can’t print that. They can’t debase gold. So as everybody is trying to destroy the value of their currency, the value of real money will continue to go up.”

Watch the Full Video Interview Here

Peter Schiff appeared on Yahoo! Finance last week to talk about Obama’s plan to raise the minimum wage, and how disastrous that would be for the economy:

“The president is talking about all the extra purchasing power that minimum wage workers are going to have. Well, where is that all coming from? Somebody has to pay those higher salaries. Either the employer takes less in profits or the customers pay higher prices. Either way, that damages the economy…The irony of raising the minimum wage is that the people it hurts the most are the very people Obama claims to be championing: the poor, the unskilled, the middle class.”

Watch the Video Interview Here

Peter Schiff appeared on Fox Business this morning to talk about gold, and its bright future when the world wakes up to the real state of the economy.

“I think [gold] is preparing for another big move up. A lot of people just don’t understand the situation. People think that the problems have been solved…that the global economy is out of the woods, that the worst is over for the US…They think there is no reason to own gold…I don’t know exactly when, but I would be shocked if we went for another two or three years and we did not have an explosive move up in the price of gold.”

Yesterday, Peter Schiff appeared on Russia Today to share his thoughts on Jack Lew, Obama’s nominee for Treasury Secretary.

“He’s not there to actually give the president solid advice on the finances of the country. He’s there to rubber-stamp the president’s agenda and make sure there’s enough buyers for our debt, so we can finance this massive expansion of government…”

Peter Schiff appeared on mrcTV to comment on Obama’s state of the union address, and reiterate the need for the government to embrace even larger spending cuts than those scheduled for the end of the month.

“[The middle class] came from productivity. You get productivity when you have limited government. When you have low taxes, low government spending, and minimal regulation. But the president wants the opposite of that, and so he’s going to destroy the middle class.”

Yesterday, Peter Schiff appeared on Fox Business to talk about what the future holds for American retirees with fixed incomes or savings denominated in US dollars.

“Healthcare costs, food, energy. Everything is getting more expensive. And even if you have these depreciating dollars, what kind of yields can you have? You can’t even get 1% from your money in the bank…What you can do is recognize the dollar is going to go down dramatically…Your money is going to retire before you do. So what you need to do is get out of dollars.”