7 votes

What's up with Peter Schiff?

I have read most of Peter's books, and I listen to his show almost ever day. I think he is one of the most fervent advocates of liberty and sound money in the world. I like 90% of what he says, which leads me to some of the stuff that makes me raise an eyebrow...

In the past few weeks I have heard a number of callers on the Peter Schiff Show ask questions about metal manipulation. Each time I hear Peter reply he always beats around the bush, or just flat out says there is no manipulation. Peter is one of the most rational people I have ever heard speak, yet when the subject is raised he sounds like he's being cornered and makes no sense. Peter always talks about government meddling in the economy and how it distorts the free market. However, when it comes to the price of gold and silver the free market works just fine, he says. Why does he do this? I can only think of two reasons...he gets enough crap already for being a gold bug. Perhaps blaming low prices all on manipulation would make him sound too conspiratorial and alienate some of his audience. Maybe he's playing a different angle and knows something that most don't.

Peter always talks about the fundamentals being strong for gold and silver, and to hold on just a little longer. What I dont get is how anyone can deny that the Comex, JP Morgan and all the other big players manipulate the price with so called "paper metal". Since the very early days of gold merchants holding gold there has been more paper issued than gold on reserve. It's a pretty old game. Why in the world would anyone believe they aren't playing that game right now? He's right the fundamentals are strong, waaaay too strong for the prices we are seeing today. We need to demand an audit of these gold merchants just like an audit of the Fed.

Heres Eric Sprott talking about metal suppression


The main point is that with all the gold and silver contracts, especially shorts, its easy for these companies to manipulate the price. They can make huge sell offs whenever they want and freak out the market. It doesn't really reflect how much gold there is, just the fears of all the speculators. There are hundreds of thousands of contracts out there representing many millions of ounces. They have a lot of control over the price.

Found the audio from the show I was listening to that made me write this post: Friday 3/1 at 1:26
Couldnt find a youtube, and don't want to worry about copyright, I just wanted to post a reference.

He basically says the conspiracy couldn't last because there would have to be too much cooperation among those who are manipulating.

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maybe he only talks with

maybe he only talks with confidence on things he has proof. he had proof of fed manipulation of the housing market, he might not have verifiable proof of JP morgan manipulating the silver market, so it's best for him not to say, otherwise, it will be brought up during interviews and he'll have no solid evidence.

BEcause it fits into his

BEcause it fits into his investment strategy to say that the things HE invests in are not manipulated, and are safe.

Plan for eliminating the national debt in 10-20 years:

Overview: http://rolexian.wordpress.com/2010/09/12/my-plan-for-reducin...

Specific cuts; defense spending: http://rolexian.wordpress.com/2011/01/03/more-detailed-look-a


I think Peter ignores the question because in the long run, it doesn't make much difference (except that Gold will top out at a higher price when market forces finally do push the price skyward.) Manipulation can distort signals, but cannot drive the economy. All of the manipulation in the world cannot overpower the market forces in the end. They only serve to have the overall outcome be more dramatic. The manipulation of Gold and Silver in our eyes should be a benefit to us. The powers that be are manipulating the price to be lower than it would be on the market. This gives us (those in the know) a chance to buy the metal at a price that is far under the true marekt value of the metal. Manipulation to lower prices helps those who see it early, because they can get better prices. But don't wait, because when prices are lower than the true market value, shortages occur.

"Tu ne cede malis, sed contra audentior ito."

Perhaps he honestly believes what he says?

Since the year 2000, the price of gold has increased from less than $300 per ounce, to $1600 per ounce. If there is price suppression, it doesn't seem to be working too well.

I believe that there is a bunch of funny business that happens on the short scale with traders, but over the long term market fundamentals win out.

Physical metal and mining stocks have been proven for 5000 years

Paper promises have an maximum life less than 50 years.

Federal REserve Notes were concocted in 1913 by 1943 the system was replaced with Bretton Woods 30 years later.

Bretton Woods failed 28 years later and in 1971 Nixon closed tha Gold window.

It's been 42 years since Nixon and crew created the Petro-dollar.

If one is interested in creating sound wealth why waste time discussing paper promises of uncertain and unprovable value?

Free includes debt-free!

Peter's best asset is his

Peter's best asset is his ability to talk - but try shutting him up. So, his radio show and television appearances pull in business for him. But mostly he just loves to talk and be right. Don't we all.

He is highly intelligent. So why will he not speak about monetary policy fundamentals instead of monetary policy tinkering by the fed? Why won't he talk about foreign policy and how it is the biggest drain on the federal budget? Why won't he go into the COT reports, the London Gold Pool manipulation of the 60s, the precipitous drops in silver and gold at specific low volume times throughout the day and especially on Sundays at sixPM? Andrew MaGuire's whistle blowing? And then there is Adrian Douglas' discovery of calculating gains through buying gold at PM fix and selling at AM fix each day for the last 10 years, resulted in remarkable gains.

Anyway, I don't think he bothers to dig in deep to learn the inter-workings of metals markets or he is lying. As for ME wars, I have no idea.

I like most of what he says though.

Exactly! He has to know about

Exactly! He has to know about these things, he's got a whole firm to do research and analysis of this sort of thing. There is no way he could run several companies and be that ignorant.

Schiff is a brilliant man

He probably isn't aware of the overall power of the international banking conspiracy. In fact he may not believe there is a coordinated conspiracy at all. Just government corruption. However, just what is corruption anyway? It's always founded in conspiracy. He still needs to "Pierce the Veil" (see articles below). I'd recommend Schiff watch this interview with Aaron Russo who happened to be best friends with a shareholder of the Federal Reserve Bank (until he broke it off for moral reasons back in the year 2000). It would do wonders to his perspective of the big hidden picture:


In summary we are all at different levels of awareness based on our life's experience. Here are a couple articles that put a unique perspective on our journey to knowledge of what's happening in the world. The first was highly influenced by the second. Each have concepts worth contemplating. Read both:

1). http://www.newswithviews.com/Yates/steven156.htm

2). http://proliberty.com/observer/20011212.htm


One possiblility....

....is that he is right. I'm no expert on this topic, but is there any real evidence that this manipulation is going on? And I mean real evidence, not "It's a pretty old game. Why in the world would anyone believe they aren't playing that game right now".

Free market capitalism isn't right for America because it works better. It's right because it's free (and it works better).

You like 90% of what he says...

so why post about part of the 10%? I am not sure why the Liberty, Constitution-ists, or whatever name for movement you prefer, frequently calls out people.

Schiff is a huge asset to the ideological battle that needs to be won. He has talked about his dad quite a bit even did a video on a road trip to see him.

What good does it do to discuss the manipulation, it will be used to further marginalize him.

In his Senate campaign he made, what he called pragmatic, foreign policy statements regarding iran and nukes. I didn't like it, and disagreed, but in the end it his his decision and his opinion.

We need to understand who values Liberty, works for Liberty, and build coalitions with these people. Even if we dislike other views they may have - Liberty is about tolerating people with different views, and views we may find down right offensive.

Lets stay focused on the areas we agree with people and not fall into to the trap of thinking we have to "approve" people in the cause.


Liberty = Responsibility

I'm suppose to keep my mouth

I'm suppose to keep my mouth shut when something bothers me? That goes against every grain in my being.

Nope, not the point at all.

Nope, not the point at all.


Liberty = Responsibility

Two things bother me

Why does he not tell his father's story at every chance? And, when he showed up at Occupy with a sign saying he is the "1%" he proved to me that either he does not understand who the 1% are, or he is confessing that he is in cahoots with the elite, or that he is an idiot. Not sure which, but none of them played well for me.

Love or fear? Choose again with every breath.

Schiff actually is part of the 1%

But out of those who are the 1% he is in the smaller portion of that group which actually are honest. He may not be aware of a larger conspiracy among that portion of the 1% who are not honest and are also "in on it". See my post (3 posts above yours) for what I mean.



Peter has talked about his father a good deal. He's always talking about how he visits his father in jail and how he's trying to get a quicker trial. He talks about how he thinks his dad is a political prisoner and that it's related to taxes.

As for the 1% thing, I thought that was incredibly bold of him to do that. Maybe you didn't like it but, personally, I gave him a lot of credit for doing that. He tried to make a distinction between the 1% that produces stuff vs the 1% that is rich due to cronyism. Also, he had made some really good points to an angry crowd. A lot of people think an owner should raise their worker's wages but meanwhile, they shop around for the lowest prices.

I never heard it

I used to listen to him regularly, learned about his father through someone else. Maybe he talks about him more now than when I was listening.
The whole thing with Occupy is those people were objecting to corporatism (fascism) and using the "1%" as a slogan. Peter went in claiming he was "the 1%" rather than "joining" them and helping them further define it as an ally. I think that was incredibly short-sighted

Love or fear? Choose again with every breath.

Were they objecting just to corporatism?

I think Peter was under the impression they were objecting to capitalism. And from at least some of the responses he got that day, some of the people were. That's not to say those people represented the movement as a whole. I don't know if they did or didn't. And it's always tough to be fully unified when you have a large group of people. Same as in DP where people have disagreements on things (e.g. Rand).

The vast majority...

were against capitalism, not fascism. Only a small minority even understand the difference and they were not the driving force for that movement. Almost all interviews with them were anti-capitalist, the tiny minority who understood fascism and were there for that reason were indeed Paul supporters and libertarians but they were hardly a significant part of that awful movement (awful because of its socialist/communistic/fascist make-up).

He was saying that not all rich people are evil

crooked wall street thugs. I think you know that though, left anarchist.

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Those who make peaceful revolution impossible will make violent revolution, inevitable.

The Elite

are not the 1%. 1% of 337,000,000 = 3.37 million. There are not that many elite in our country, but there are that many rich people. We need to stop demonizing the 1%. Peter IS a part of the 1%.

Ron brought the Liberty movement together, Rand is expanding the crap out of it! :)

i think some wings of his

i think some wings of his family might be illuminati. The Schiffs. maybe i'm wrong. but he definitely won't cross those people and call them out.


Not the same

Jacob Schiff.

When a true genius appears in the world, you may know him by this sign: that the dunces are all in confederacy against him. ~J. Swift

Jacob Schiff?

Peter has like a great grandfather with that name but he's not *THE* Jacob Schiff. Peter is not from THAT lineage. He's brought it up on his show several times.

This is a joke right?

....I really hope so.

it was only a guess. i

it was only a guess. i haven't looked into it. i'm wrong then.


Protecting interests in.....

Other metals emerging as players in the metallurgist community.... See: Africa

One who sells gold

for a living, has to be careful what they say regarding manipulation.

I sell gold for a living. I have written one article on manipulation without being "conspiratorial." I can easily justify what I wrote because the information is available to anyone who does a little research.

Thoughts On Gold Price Manipulation


Author of Buy Gold and Silver Safely
Next book: Illusions of Wealth - due out soon
Also writing book We the Serfs!

Thanks for sharing. Good

Thanks for sharing. Good read.

Schiff has said that it could be happening!

But he can't prove it, so don't dwell on it
If it's happening then BUY.
If it's not then BUY.

Senator Peter Schiff 2016

Good observation

thanks for sharing.

"We can see with our eyes, hear with our ears and feel with our touch, but we understand with our hearts."