Fiat Currencies, Gold & Bitcoins

What we have now, fiat currencies instead of real money, does not work. So, we need to go back to real money. Now, do I think bitcoin is real money? No, I don`t. It does not satisfy to me the definition of money, what money needs to be. It does not have any intrinsic value on its own. You can`t do anything with a bitcoin. You can do something with gold, gold has a value unique to itself.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

It`s Hard To Convince People To Vote For Less Government

There are a lot of solutions, the problems are easy to identify, and the solutions are simple. The problem is in a democracy, getting the solutions adopted. Because everybody wants something for free and everybody thinks the government can provide prosperity, the government can provide wealth. It can`t.  They can destroy that, but they can`t provide it. Yes, they can steal from one person and give it to somebody else but in the process of doing that they make everybody poor.

It`s hard to convince people to vote for freedom, to vote for less government. It`s much easier to convince them to vote for more. When it becomes difficult is when the government is so big and is destroying the economy so completely that the people finally wakes up to it. So I think the catalyst for change is extreme collapse, extreme despair and disaster when that message can no longer sell.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

The Whole U.S. Economy Is Based On Debt

Our whole economy in the U.S. is based on debt. Its based on borrowing to consume, borrowing to speculate. The government is financing itself based on debt, all these checks they are mailing out are based on debt.

The rates need to be practically zero in order for anybody to afford servicing the debt. That is how enormous the debt is and when the FED eventually lets interest rates rise, everything comes crashing back down, much worse than 2008.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

The Fundamentals Of The U.S. Economy

The fundamentals of the U.S. economy are much worse than they were when the FED began QE1. And you still have this idea that the FED can remove these supports and that the economy can somehow continue expanding on its own. It can`t. It is all a function of all that cheap money and artificially low interest rates that come with it.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

The Potential Growth In Asian Capital Markets

I do think that Asia, so Hong Kong, Shanghai, I think those center are going to grow in influence over time as more and more wealth is created in Asia, as more savings are accumulated that need to be invested. I think, the capital markets will grow in those regions. Right now, a lot of it is outsourced to places like London and New York but I think over time they will do more of that in-house.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Video: Economics, Politics & Monetary Policy

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.