Peter Schiff: Bitcoin, Gold and Our Fragile Inflated Economy

Peter Schiff is an honorary chairman of SchiffGold, founder of Euro Pacific Asset Management, and host of The Peter Schiff Show. He is an economic forecaster & investment advisor influenced by the free-market Austrian School of economics. His latest best-selling book, “The Real Crash, “warns that the 2008 crisis was just the prelude to a larger sovereign debt crisis that may lead to a collapse of the US dollar.

In this interview with Natalie Brunell, Peter shares his insights on gold, Bitcoin, inflation and the state of our fragile economy.

Follow Peter at @Peter Schiff and on Twitter – @PeterSchiff.
Follow Natalie on Twitter at @NatBrunell

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Full bio via SchiffGold.com:

Background

Peter Schiff’s investment career began with Shearson Lehman Brothers in the early 1990s. In 1996, he and a partner started Euro Pacific Capital in Los Angeles, later moving the headquarters to Connecticut. The firm has since expanded, with offices in Scottsdale, Arizona, Boca Raton, Florida, Newport Beach, California, Los Angeles and New York City. Euro Pacific Capital’s investment strategy focuses on long-term wealth savings in the face of a declining US dollar with an emphasis on emerging market and commodity-focused investments.

Peter is best known for accurately forecasting the 2008 financial crisis. During a Fox News debate in December 2006, Schiff said, “What’s going to happen in 2007 is that real estate prices are going to come crashing back down to Earth.” Business news journals reported that Schiff accurately predicted the crisis, while “nearly all [macroeconomists] failed to foresee the recession despite plenty of warning signs.”

Peter has also worked in the political arena, first serving as an economic advisor for Ron Paul’s 2008 presidential campaign and later running for United States Senate in Connecticut in 2010 as a Republican. Politically, he leans Libertarian, with an emphasis on fiscal conservatism.

Peter started SchiffGold in 2010 after recommending for decades that investors allocate 10-20% of their portfolios to physical precious metals. Peter became concerned that some of his Euro Pacific Capital clients were being misled into purchasing overpriced “numismatic” gold and silver products from gold dealers with unsavory business practices. Peter started SchiffGold to provide a trustworthy alternative that would sell only the most liquid physical bullion products at the lowest possible prices. SchiffGold is backed by Peter Schiff’s Guarantee that it will only sell the most liquid physical bullion products at the lowest possible prices.

Peter’s expertise on money, economic theory, and international investing makes him a highly sought after as a speaker and analyst. He has been quoted and interviewed hundreds of times by media outlets around the world, including The Wall Street Journal, Barron’s, Die Zeit, Tokyo Shinbun, South China Morning Post, Investor’s Business Daily, The Financial Times, The New York Times, The Los Angeles Times, and The Washington Post. He regularly appears on CNBC, CNN, CBC, Al Jazeera, Fox News, and Fox Business Network.

Timecodes:
0:00 Introduction
1:50 Growing up & family life
3:50 Peter’s father and tax protests
7:24 Early economic influence
10:59 Peter’s early career
13:07 Austrian economist in a fiat system
15:29 Always a Gold bug
16:45 Occupy Wall Street Video
21:28 What is Austrian Economics?
25:38 Lessons from ’08/’09 crisis
28:21 How will “Real Crash” play out?
29:55 Inflation
32:49 America becoming poorer
37:00 Socialist Sentiment
41:11 Socialism Vs. Capitalism
42:56 Government spending & taxes
47:52 Corporations & Capitalism
48:57 Why CEOs are overpaid
53:23 Income inequality
59:45 Economics amid political divide
1:02:21 Congress today not like Founders
1:05:18 Quality of life vs corporate “profit”
1:10:18 Why is Gold underperforming?
1:14:58 Discovering Bitcoin
1:19:43 Bitcoin’s community
1:23:05 What would make Peter believe in BTC
1:24:51 Bitcoin & utility
1:28:16 Is it about stubbornness?
1:30:30 Bitcoin tech & sound money
1:33:55 Bitcoin as a medium of exchange
1:36:33 Bitcoin to $100k?
1:38:25 What Peter wish he knew
1:43:18 Final thoughts

Peter Schiff: Bitcoin, Gold and Our Fragile Inflated Economy

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