Category Archives: Videos

Peter Schiff’s latest appearance on Fox Business puts him alongside another investment advisor who agrees that the Cypriot bailout is a signal for investors to move their savings out of banks and into hard assets, like precious metals.

“Why leave your money in the bank, especially in today’s environment where interest rates in general are so low? Why take a chance? And you know, it’s not just on that side of the Atlantic. We’ve got 0% interest rates here in America. Why leave your money on deposit in a bank to get 0% when there’s inflation?”

Yesterday, Peter Schiff appeared on Russia Today America to talk about America’s phony economy, and what we can learn from the Cyprus bailout.

“We are definitely headed for a real economic crisis in the United States. What happened in 2008 was just the opening act… We have created a phony economy that is completely dependent on the ability to keep borrowing more money we can’t pay back. We have this phony economy that can’t create productive jobs, that is dependent on the Fed printing, on borrowing, on trade deficits. But we can’t do this forever, and the longer we do it, the bigger the disaster when it ends.”

Peter Schiff appeared on TheBlaze TV’s Wilkow last week to speak about the new housing bubble, the Fed’s stimulus efforts, and the phony inflation and employment numbers.

“The Federal Government is more involved now in the housing market than it was when the last bubble was inflating, and the Fed’s monetary policy is even more reckless. And the Fed’s specifically saying that it’s goal is to artificially prop up real estate, to get people building houses we don’t need, to get people buying houses they can’t afford… The Fed has created an economy that is completely dependent on this monetary heroin. They can never stop, of course, until we die of an overdose.”

In his last appearance on Yahoo! Finance with Laura Lyster, Peter Schiff counters the claims of Ben Bernanke that there is no bubble in the stock market and that inflation is still under control. He went on to defend his bearish long-term forecast for the US dollar.

“The dollar is going to collapse if Ben Bernanke doesn’t reverse course. And if he does, the whole phony economy that has been built on the foundation of stimulus is going to collapse as well. See, Ben Bernanke believes that somehow he can withdraw the stimulus and the economy will keep on expanding. It’s impossible, because we have an economy that is of stimulus, by stimulus, and for stimulus.”

Click Here to Watch Peter Schiff on Yahoo! Finance

On Friday, Peter Schiff appeared on The Willis Report on Fox Business to talk about the crisis in Cyprus. Afterwards, Lou Dobbs suggested Peter’s bearish analysis of the European and American economies was simply an attempt to attract more clients. Peter’s rebuttal to Lou Dobbs appears below the video.

“I think in those other countries, they’re going to resort to a more insidious deposit tax: inflation. I think you’re going to see money printing all around the world, and that is going to destroy the value of bank deposits. I think savers need to realize that no matter what form it comes, savers are going to be sacrificed on the altar of stimulus… I think inflation is going to take much more than 10% of the purchasing power out of bank accounts all around the world, not just in Europe, but here in the United States.”

“Following an interview on Fox Business during which I discussed the situation in Cyprus and the potential broader implications of the crisis, Lou Dobbs, apparently now more optimistic about the U.S. economy, was very dismissive of my comments. But instead of just countering my arguments, he also impugned my character. He effectively accused me of being a charlatan, stating that my real objective was to scare people into opening accounts at my offshore bank. As I am often the bearer of bad economic news, I understand the tendency to shoot the messenger. Of course, Mr. Dobbs had no way of knowing that my offshore bank does not accept accounts from U.S. citizens or residents (Fox Business does not have an international audience yet) and therefore for this particular interview the only purpose for my bringing up my bank was to illustrate how the crisis was affecting the offshore banking industry; from the unique perspective of the owner of such an institution.”

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.”