3 votes

Peter Schiff: Friend or Foe?

Don't get me wrong - I agree with 99 (if not 100) percent of everything Schiff stands for and believes. I would've given anything to see him win that senate seat a couple years back. BUT I also have to realize he owns Euro Pacific Capital, an investment firm that promotes investing through precious metals and other currencies which he is often touting. I guess the question I often have is - at what point is he trying to sell me something? I'm not hating on Schiff, just being cautious that's all.



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Jacksonian's picture

If you understand Economics...

...then you shouldn't be concerned about a business man trying to sell his products. Personally speaking, I can find cheaper precious metals elsewhere where i don't have to bother making a phone call and I buy my mining shares and other stocks via my personal brokerage account. Just because Peter is doing his best to grow his business doesn't mean you have to buy from him or that he's untrustworthy. Entrepreneurs create jobs when their businesses grow. If you agree with 99-100% of what he says, how could you have any concern about him being a salesman? Doesn't make any sense. But to answer your question:

Peter Schiff: FRIEND!

at what point are you trying to sell me something?

at what point is Michael Nystrom trying to sell DP memberships?

everybody sells something.

what do you sell?

...caution?

doubt?

Friend

There is enough enemies out there. Kind of makes me think that the persons who perceive him as an enemy do so because they are chicken shit towards the most powerful enemies that are apparent.

Schiff is real.

Although I do share your suspicion of many PM salesman on this site. You usually see wild predictions of $200 silver in 6 months. With every dip in prices, they are promoting the once in a lifetime opportunity to buy their beautiful non-US denominated silver coin for 20-30% over spot. With every rise in prices, they are telling you jump on the train.

I have never seen Peter Schiff hocking his own product, promoting get rich quick schemes or making ridiculous predictions of the price of PM's.

He is trying to sell you something...

...and he's also trying to educate you and advance liberty. The two are not mutually exclusive. Profit, as Schiff succinct explained in his recent response to Russel Brand, is not a dirty word.

"Alas! I believe in the virtue of birds. And it only takes a feather for me to die laughing."

upvote

Peter Schiff is awesome.

Yeah. Extra awesome.

What ricky said.

"Timid men prefer the calm of despotism to the tempestuous sea of liberty" TJ

Well

Ron Paul Talks about liberty and freedom and then writes books about liberty and freedom .. and often promotes these books too ... seems the same to me .. if you believe in something you walk the walk and talk the talk .. Don't think either of these guys are snake oil salesmen

Some

people here long ago said Ron Paul might have been saying stuff because he holds a lot of gold.

You have to ask yourself... would Dr. Paul have ran for Congress not really expecting or wanting to win over 30 years ago, stick to the same rigid principles all that time, when he already had a successful medical practice, just to try increasing the value of his gold holding?

Of course that sounds ludicrous. Now Peter Schiff may not have that kind of record, but I'm trying to show how easily people can claim biased promotional interest when there is probably nothing of the sort. Also, why take the minority contrarian view? It would be more profitable to go with market consensus on various issues. It's often very profitable to sell out without regard for morality.

EDIT: not to mention both men correctly predicting future events like the housing bubble while being called crazy etc.

And bias interest isn't always corruptive bias interest....

There's something called "confirmation bias", which is part of human nature, something also heavily exploited by the PTB.

It would be natural for Schiff to have some confirmation bias, since it's inherent in being human.

I listen to his radio show daily

The only money I have given him is the cost of a Schiff Radio Premium membership, because I wanted the podcast subscription and I like to support products I use.

From the many hours of radio time I have listened to, I can say he really doesn't have an agenda to push his company products. In fact, he cannot do so because of FINRA regulations. His message and philosophy are consistent. I don't agree with 100% of his views, but I think he is honest and genuine.

A lot of people are not qualified investors for his company because of the limits required. However, he has often given free advice in general terms to everyday people wanting to protect their wealth in an inflationary environment...things like stocking up on extra household items, buying junk silver, and getting a low interest 30 year mortgage if you can get a good price on a house.

Schiff

I met him (more than a handshake, hung out with him for a while, and for more than one day). He seems pretty genuine to me. His investment thesis directly lines up with what his political philosophy and economic beliefs are, so if you don't think his analysis is correct (economically), don't buy his products. Also, if you think his analysis is incorrect on the individual asset basis, don't buy his products. If you think that he is charging too much for his advice, don't buy his products. However, I wouldn't worry about his message being anything other than genuine. When I was with him, he read an article about the cost of printing money going up by some 67 or 68% (cost of cotton, etc) and a day later, he used that information at a speech he gave. So, I would say as far as utilizing new information in front of him, as a messenger for the philosophy of limited government and Austrian economics, he is to be trusted. The problem, or difficulty, of defending free markets is that every argument is nuanced and challenging to understand. The problem with defending Marxism or big government is its efficacy and its immorality, not its marketability - it's easy to sell free stuff. Having good spokespeople is important; we need as many people as possible that thoroughly understand the economics and can relay those complex ideas in a way that is digestible to the common American citizen. He has that specific talent, and seems to be utilizing it for his own benefit (as a commentator to promote his own business) as well as for the rest of our benefit (for those that find his services useful or his explanations of basic economics or current events helpful). So, until that stops, I choose to throw my full support behind his efforts. I just thought I'd share my analysis of him since I met and hung with the guy.

I am, by the way, not a EuroPac customer.

.

He's been around long enough and put himself out there enough that you can be pretty confident he's genuine.

I think he caters to higher dollar value clients but he's pretty much dedicated his life to helping people preserve their wealth (even if it's not with his company) and exposing the banking, government and media malfeasance.

But it's always good to keep these things in mind.

His business specialty is

His business specialty is completely in line with his belief system, isn't it, assuming you believe he's telling the truth about his belief system? If he's a fraud, it's a pretty elaborate hoax.

If you know anything about his father's situation you would know that he would have good reason to distrust government.

In other words, no he's not a fraud. He's a libertarian.

I must be willing to give up what I am in order to become what I will be. Albert Einstein

Can't it be both?

Not friend or foe, but someone with legitimate and honest views who is also, *honestly* trying to sell you on his service to help you invest in the way he sees fit. I don't see why it has to be one or the other. It's not a contradiction to state honest beliefs and self-promote yourself as a helpful solution.

The problem only lies in if Schiff were being dishonest about either his views or the idea that his company can help people from the financial issues associated with them.

http://lionsofliberty.com/
*Advancing the Ideas of Liberty Daily*

If I recall...

There's a $5000 minimum to purchase Gold from Euro Pacific. Turned me off.

Ron Paul Was Right

Not just gold

you purchase all their products /funds in $5K increments. They are set up for medium to high net worth investors. $200k-500k, once you get into 7 figures you can go from retail investment houses to hedge funds.

peAce

Liberty = Responsibility

Minimum

I just thought I'd share that he used to not have a minimum, but he has repeatedly said that he can't make a profit representing people with accounts less than that because of the regulatory burden in a highly regulated industry. I guess my point is that he doesn't like the minimum either.