Peter Schiff is CEO and chief global strategist of Euro Pacific Capital Inc., a broker-dealer based in Dorado, Puerto Rico. He is founder of Euro Pacific Canada Inc., a Canadian registered global brokerage firm headquartered in Toronto, He is also founder and chairman of Euro Pacific Bank Ltd., offshore bank based in St. Vincent and the Grenadines; founder, CEO, and chairman of Euro Pacific Asset Management, LLC
Peter Schiff was born to a middle-class family in New Haven, Connecticut. His father, Irwin, a Jewish immigrant from Poland served in the US Army during World War II.
His parents divorced when he was young, and he moved around the country with his mother and his brother.
Irwin was a prominent figure in the US tax protester movement. He refused to pay income tax and unsuccessfully argued that there was nowhere in the US constitution which stipulates that citizens must pay income tax.
Irwin famously said, “A small business person has Uncle Sam as a partner, who puts no money, does no work, and wants 30 or 40 percent.
So Irwin was locked up and the key was thrown away. In short, Irwin was charged and sentenced to 13 years for tax evasion. He died in prison. Peter Schiff accused the Federal Bureau of Prisons of inhumanely treating his father for not allowing the usual humanitarian release.
Peter Schiff was educated at Beverly Hills High School and obtained a Bachelor of Science with a double major in finance and accounting from University of California, Berkeley, in 1987.
Peter Schiff is a strong supporter for the Austrian School of economic thought, which was introduced to him by his father, Irwin
Peter Schiff has repeatedly held bullish views on long-term investments in foreign stocks and currencies in countries with sound fiscal and monetary policies, as well as global commodities. He recommends holding physical precious metals and has expressed bearish views on the US economy and the US dollar.
He is a strong support for the Austrian School of economic thought, which was introduced to him by his father, Irwin.
Perhaps Schiff has an ax to grind (in view of what happened to his father) which could explain why he is always bearish on US economy and US dollar.
Nevertheless, Peter Schiff easily dominates the stage with his intelligent viewpoints. While Schiff (along with so many bearish analysts) was caught out by the central bank’s massive monetary easing post-2008 financial crisis Schiff continues to remain bearish. It is based on a sound view that the first phase of the central bank’s plan to prop up the financial system with newly created money was the easy part. It is the latter part, returning to a path of monetary normalization which he believes will be more difficult. So Schiff could have his day of reckoning. If so, we will probably hear more about him going forward.
Greed is normally balanced by fear – Peter Schiff
Peter Schiff is the principal host of The Peter Schiff Show podcast.
He has appeared as a guest on numerous business and financial television shows and has been quoted in major print publications as a financial analyst. Schiff reckons that the financial crisis of 2008 was just the opening act for a coming Depression.
Who knows why the market was down? If anybody cared about higher interest rates, we would have had a much bigger drop in the stock market – Peter Schiff
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