Printing money is merely taxation in another form. Rather than robbing citizens of their money, government robs their money of its purchasing power.— Peter Schiff
The most unusual Peter Schiff quotes that are guaranted to improve your brain
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.
Printing money creates inflation, which weakens an economy.
Unfortunately, this kind of common-sense thinking never seems to penetrate academic circles.
At some point, the dollar has to give.
You can't just keep printing money, and monetizing debt, and buying bonds, without the dollar imploding.
The U.S. dollar is in terminal decline. America is tragically bankrupt, unable to pay its lenders without printing the dollars to do so, and enmeshed in an economic depression. The clock is ticking until the dollar faces a crisis of confidence like every other bubble before it.
It is production that creates purchasing power, not the printing press!
Keynesians are to economics what witch doctors are to medicine.
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.
Minimum wage laws make it illegal for a worker to accept a job that pays less, even if the worker needs that job.
The real story of Detroit [...] can be summed up in seven words. Private enterprise built it, government destroyed it.
We're on a collision course for disaster.
All we can do, all your viewers can do is brace for impactBuy gold. Buy silver Get as far away as you can from U.S. currency and the U.S. economy.
There 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.
The real bubble in China is in US Treasuries, in US dollars.
Printing money is merely taxation in another form.
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.
It can be argued that the U.S. brokerage and investment banking industry has transformed the modern American stock market into nothing more than a mechanism for transferring wealth from shareholders to management.
The Philadelphia Feds manufacturers report for September revealed that despite a sharp slowdown, its prices paid index surged 257 points.
The primary factor that enables our government to peddle economic snake oil is the dollar's unique role as the world's reserve currency, and our creditors' willingness to preserve its status. By buying up dollars and loaning them back to us through Treasury debt, productive countries give American politicians cart blanche to play Santa Claus.
Once the dollar begins to collapse beneath the weight of all this new deficit spending, accumulation of contingency liabilities and the socialization of our economy, commodity prices and interest rates will head skyward.
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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.
Perhaps the most important reason to be skeptical of government inflation numbers is that the government, like a fox campaigning to guard a hen house, has many reasons to be disingenuous. As the world's largest debtor, the Federal Government is inflation's primary beneficiary.
The 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.
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.
Gold is not overvalued at $500, and gold will not be overvalued at $1,500 or $2,000. The real money is buying gold and putting it away.
Mutual funds are an overrated investment heavily promoted by Wall Street.
Fifty-dollar oil is just another stop on the road to much higher crude prices.
The United States is like the Titanic, and I'm here with the lifeboat trying to get people to leave the ship... I see a real financial crisis coming for the United States.
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.
You don't drive an economy by consuming - the consumer is not the engine, the consumer is the caboose.
What got us out of the depression was capitalism, and we would have gotten out a lot quicker had the government not intervened.
Confidence by itself, unless it has a valid basis, can get us into trouble.
There is simply no way to sustain an economy based on consumer credit.
You're worth what you're worth
A federal bailout would spare California from having to make spending cuts needed to bring its budget into balance. The matter has become urgent since California voters rejected several tax-hiking ballot initiatives. Rather than taking the vote as a signal to dramatically curtail spending, the state turned to the feds. If they get a free pass, the politicians can avoid fixing any of their past mistakes or preparing California for the future.
Greed is normally balanced by fear.
The strength in gold is revealing the general weakness in the dollar.
Often President Obama's worst critics are Senator Obama and candidate Obama.
The only way to buy more is to produce more.
Once the government runs out of foreign and private sector bidders for new Treasurys, the Federal Reserve will be the only buyer, and the hyper-inflation cat will be completely out of the bag.
All those commodities are going to have to rise in value as we are in short supply and we are printing too much money.
I don't want the technology of the 1950s, but I want the free market of the 1950s.