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Peter Schiff Interview - Washington Post

Peter Schiff's day job is running Euro Pacific Capital, a Connecticut-based investment fund. But he's better known as the guy who called the housing collapse and recession back in 2006. Schiff, a hard-core free-marketeer and an adviser to Rep. Ron Paul (R-Tex.) during his 2008 presidential run, now moonlights as a cable news analyst and has become a YouTube fixture, thanks to the "Peter Schiff Was Right" mashups of his predictions. His latest job: seeking the Republican nomination to run against Sen. Chris Dodd (D-Conn.), chairman of the banking committee. Washington Post business reporter Frank Ahrens spoke with Schiff about abolishing the Fed, why housing prices must fall further and how many millions he'd spend to win a Senate seat. Excerpts:

What made you step off the sidelines of politics and decide to run for office?

About 5,000 people contributed to this Web site that was set up by a few kids in California. And then I set up my own exploratory site and said: "Well, you know, I'm thinking about running. If anyone wants me to run, send me some money and maybe I'll run." And over 10,000 people sent me money. I got a lot of e-mails from people, too, especially from young people, not just from America, all around the world.

Continue:

http://www.washingtonpost.com/wp-dyn/content/article/2009/10...

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Michael Nystrom's picture

WTF Peter?

There's nobody on Capitol Hill whom you can point to as a defender of liberty?

Well, Ron Paul is there, but he's one congressman. And he's an old guy. If I can take a Senate seat, there's a lot more power in a Senate seat than a House seat. And most of the other senators spend 90 percent of their time trying to get reelected -- raising money, doing what it takes to stay in the Senate, right? I'm not going to spend any of my time on that. So I'll be, like, 10 senators all by myself.

You have said you want to abolish the Federal Reserve.

I'm a little leery. The Fed has done a horrific job; if any agency deserves to be abolished, it's the Fed. But you've got to be careful what you wish for. I think it's probably better to try to reform the Fed. I want to strip some of the powers and bring it back to the way it used to be.

Should it be setting interest rates?

I think the market should be setting interest rates. Let the Fed worry about money supply, and let the market set the interest rates.

To be mean is never excusable, but there is some merit in knowing that one is; the most irreparable of vices is to do evil out of stupidity. - C.B.

Nice article!

Good find! Thisnovember5th donate to schiff!
http://www.youtube.com/watch?v=UMNI0i4I3CI
_________________________________________________
A recent history of the US economy - http://www.youtube.com/watch?v=Wzze9xCPuok

bump

http://www.youtube.com/watch?v=OO18F4aKGzQ

'Peace is a powerful message.' Ron Paul

Reform the Fed?

In the interview Shiff answers to the question, "You have said you want to abolish the Federal Reserve."

I'm a little leery. The Fed has done a horrific job; if any agency deserves to be abolished, it's the Fed. But you've got to be careful what you wish for. I think it's probably better to try to reform the Fed. I want to strip some of the powers and bring it back to the way it used to be.

Has Peter been talking with Barney Frank?

End The Fed

Make it the way it used to be? You mean, a creation of large banking interests seeking to monopolize the nation's monetary system, and fostering institutionalized inflation?

Yeah, let's reform it. I'm sure they'll be nice if we only ask politely.

Schiff's already getting mealy-mouthed.

_____________________________
"Make the lie big, make it simple, keep saying it, and eventually they will believe it." -- Joseph Goebbels

_____________________________
"Make the lie big, make it simple, keep saying it, and eventually they will believe it." -- Joseph Goebbels

Abolishing the Federal

Abolishing the Federal Reserve outright would be dangerous. It needs to be phased out in a carefully crafted and reasoned manner. Auditing is just a first step. There needs to be a transition period between FRNs and legal currency. Without this, I fear that the upheaval will cause the sheep to vote for a more statist government to "do something".

Drain the swamp!

Well killing it outright could be somewhat dangerous...

it might trigger the devaluation of our currency. Which, though it would quickly shrink the size of government and reign the more aggressive aspects of our foreign policy, would leave us with a rather bad mess.

I personally advocate:

  1. opening the Fed's books to public scrutiny
  2. creating a gold backed currency to compete with the dollar and
  3. phasing the Federal Reserve out entirely once the good money drives the bad money out of the system.

We're Already In A Bad Mess, And We've Been Looted

For clarity on this issue, I suggest reading:

http://www.amazon.com/dp/0446549193/?tag=yahhyd-20&hvadid=57...

_____________________________
"Make the lie big, make it simple, keep saying it, and eventually they will believe it." -- Joseph Goebbels

_____________________________
"Make the lie big, make it simple, keep saying it, and eventually they will believe it." -- Joseph Goebbels

"adviser to Rep. Ron Paul

"adviser to Rep. Ron Paul (R-Tex.)"

In the political world this gives real credibility to him in regards to economics. Even Ron Paul's colleagues regard the good doctor as the most knowledged in economics; and to be his adviser shows that Peter Schiff is one of the few brightest minds in economics that deserves such a title.

Thanks for the link.

Excerpt:

Hard-Core Free-Marketeer

Sunday, October 4, 2009

Peter Schiff's day job is running Euro Pacific Capital, a Connecticut-based investment fund. But he's better known as the guy who called the housing collapse and recession back in 2006. Schiff, a hard-core free-marketeer and an adviser to Rep. Ron Paul (R-Tex.) during his 2008 presidential run, now moonlights as a cable news analyst and has become a YouTube fixture, thanks to the "Peter Schiff Was Right" mashups of his predictions. His latest job: seeking the Republican nomination to run against Sen. Chris Dodd (D-Conn.), chairman of the banking committee. Washington Post business reporter Frank Ahrens spoke with Schiff about abolishing the Fed, why housing prices must fall further and how many millions he'd spend to win a Senate seat.
Excerpts:

What made you step off the sidelines of politics and decide to run for office?

About 5,000 people contributed to this Web site that was set up by a few kids in California. And then I set up my own exploratory site and said: "Well, you know, I'm thinking about running. If anyone wants me to run, send me some money and maybe I'll run." And over 10,000 people sent me money. I got a lot of e-mails from people, too, especially from young people, not just from America, all around the world.

People had seen you on TV?

Well, I think most of the young people, it's not even so much on TV because I don't even think they watch CNBC. They're seeing me on YouTube. I spoke in Poland at an economic conference, and people were coming up to me wanting a picture with me. I was the only person, really, that got any applause. And my applause was when I was talking about capitalism and the beauties of the free market. I got applause from people who were born in a communist country.

Well, that plays well in a young democracy, right?

I really do believe that this country is headed for a major crisis. We didn't just have the crisis. The crisis is still in front of us, and I think it's going to be horrific. And my fear is that the government is going to continue to make the same mistakes that have made this crisis inevitable. Every time there's any kind of crisis, the government responds to it by seizing more power, and we surrender more liberties, and more of the Constitution is shredded, all in the name of trying to solve problems.

continued ...

What is an "artical?"

Please use spell check and please do not post bare links.

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