Quotes from Peter Schiff

Every time the market has corrected, since 2008, it's always been the Fed that's made the bottom. The Fed has always saved the market either by cutting rates, launching QE, or threatening to launch another round of QE.

The Fed is the biggest enemy of this economy. In fact, Ben Bernanke, as far as I'm concerned, he's public enemy No. 1. We're never going to have a recovery while this guy's in charge.

That's what's really bothering me about Trump is the hypocrisy, because when Trump was a candidate, and he got elected - because, by and large, he told the truth about the phony nature of the recovery.

To get great again, we need to recreate what made us great in the first place, and so we're going to have to let interest rates go up.

We are an indebted family going out for an expensive meal to celebrate getting approved foe a new credit card. It might feel good (at the time), but we're still simply delaying the inevitable.

I would say to people of a libertarian conservative position on an issue, do not do a taped interview. You're going to come out looking really bad. No matter what you say, no matter how eloquently you answer a question, your answer is not going to be what you said.

My mother always taught me that two wrongs don't make a right. We shouldn't bail out Wall Street. We shouldn't bail out Detroit. It will cost the economy more than the cost of the bailout which is more than the politicians think. We'll run into the hundred of millions to prop these companies up.

One day we're going to look back at $1,700 with nostalgia. People are going to be shocked at how inexpensive gold was when it could be snapped up for such a bargain price.

The government can't create jobs; they'll destroy jobs trying to do it. The government doesn't have any money; all they have is a printing press. We need to free markets to create jobs; if the government wants to help, they should reduce their burden on the economy.

Remember 'The Brady Bunch' TV show? That 1970s family had a full-time live-in housekeeper called Alice. Mrs. Brady worked at the PTA and did community work. She didn't clean her own house. That was middle class. Now you have to be very rich to employ a housekeeper. Everything it meant to be middle class has changed dramatically.

The middle class today would be poor by the standards of the 1950s. Today, with two people working, they would still live paycheck to paycheck.

We had a very upwardly mobile economy, and that peaked around the 1950s when the typical middle-class American family consisted of a father with a job and stay-at-home mom who took care of the kids.

You don't help the economy by spending money.

My investment advice is rooted in my understanding of economics.

The market needs to set prices, including interest rates and allocate resources. If it were up to me, we would abolish the Fed and return to the gold standard. Absent that, the Fed should be completely removed from the political sphere, its dual mandate replaced by a single mission to provide the nation with sound money.

Greed is normally balanced by fear.

Trade deficits are OK under certain circumstance. 1. An emerging nation imports capital goods necessary to enhance its productivity. 2. A developed nation, with a current account surplus, uses some of its investment income to finance the purchases of additional consumer goods from abroad.

When the dollar collapses, it's not doing it in a vacuum. If the dollar loses value, it's doing so relative to some other currency. So the purchasing power that we lose, somebody else gets.

Gold has intrinsic value. The problem with the dollar is it has no intrinsic value. And if the Federal Reserve is going to spend trillions of them to buy up all these bad mortgages and all other kinds of bad debt, the dollar is going to lose all of its value. Gold will store its value, and you'll always be able to buy more food with your gold.

Gold actually has properties - you can use gold for all sorts of things. People value gold for the metal. Nobody values bitcoin for the bitcoin; they value it because they believe that they can exchange it for something else.

Confidence by itself, unless it has a valid basis, can get us into trouble.