Peter Schiff on the Economy, Gold, and the Coming Collapse of the Dollar

Peter Schiff is the Permabear who appears on all the financial shows as a foil to all the optimistic pundits. He’s told his clients to short sub-prime mortgages when everyone was buying, he told people to get out of tech stocks in 1998 and 99. Every financial call Schiff has made has turned out to be right, and this time he’s saying the stock market is headed even lower, gold prices are headed up around $1,500 by the end of the year, and at the minimum, the dollar will lose another 40 to 50 percent of its value. Schiff thinks we’re headed for a period worse than the Depression.

Schiff said, in a recent US News and World Report article:
“There will be a big increase in crime. People are going to be hungry. People are going to be cold. There’s a sense of entitlement in this country, and when a lot of people used to having things suddenly don’t, everybody looks for someone to blame. We’re going through a very rough period in our history.”

Arthur Laffer makes a 1 cent bet with Peter Schiff back in 2006. Schiff, of course, won.

Check out a whole slew of Peter Schiff videos, with tons of valuable information:

Peter Schiff talking on Bloomberg about the Moral Hazard and monetary policy.

Peter Schiff talking about the true definition of inflation on my favorite show, Squawk Box, back in 2006.

Here is the economic debate that the people should have heard, not McCain vs Obama, it’s Peter Schiff vs Stephen Leeb.

Schiff talking about where to be when the deep badness comes: Gold, euro stocks, etc…stay away from the dollar.

Peter Schiff talking about a possible mega-panic worse than 1987.

Schiff talking about Ben Bernanke willfully lying to the American public, and the failure of the current interventionist policy.

One of the best videos, Peter Schiff laying out exactly what the problem is and what the solution is. Well done.

Every time Peter Schiff appears on TV, other pundits always seem to get upset, and it invariably turns into a screaming match, but he’s always right. Time has always proven him correct, consistently on almost every call he’s made. Learn from it, realize it’s happening, and most of all, take his advice, buy gold and Euro stocks and foreign currency. His track record speaks for itself, it’s just Common Sense.