People should have an escape valve for their money, their assets. If you have substantial financial assets, the government is going to confiscate the purchasing power of those assets and spend it.
Peter SchiffWhat got us out of the depression was capitalism, and we would have gotten out a lot quicker had the government not intervened.
Peter SchiffThe real story of Detroit [...] can be summed up in seven words. Private enterprise built it, government destroyed it.
Peter SchiffThe president says we need to raise the debt ceiling because America pays its bills. No if we paid our bills we wouldn't have all this debt. The reason we have to raise the debt ceiling is because we can't pay our bills and we have to borrow money because we don't have any money to pay our bills.
Peter SchiffThere are no checks and balances if the gov is wrong. If a private entrepreneur makes a mistake, he goes bankrupt, the losses are cut; if he bets wrong, he loses; if the gov bets wrong, they just get bigger, they just appropriate more money. It's a bottomless pit, because they either get it from the tax payers or run it off a printing press.
Peter Schiff