Peter Schiff Interview - Washington PostSubmitted by coloforpaul on Sun, 10/04/2009 - 04:14
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.