Any Idiot Can Redistribute Wealth

Any idiot can redistribute wealth. The hard part is to create wealth in the first place. And the redistributors just get in the way of wealth creation.

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

Greece Is Broke, They Are Not Going To Pay The Money Back

It cannot work. You have to admit the obvious, that Greece is broke and trying to come up with ways to pretend that they are going to pay the money back is not going to work. They should never have bailed them out the first time.

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

Interest Rates: Damned If They Do, Damned If They Don`t

We are damned if they do raise rates and damned if they don`t. If they do raise interest rates they prick the bubble that they have inflated. Because we have so much debt, the only reason the bubble has not already bursted is because rates are still at zero. So, if they move them back up to 2 or 3 percent, which is still historically very low, given how much debt we have, it is impossible to sustain 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.

United States: If Interest Rates Go Up...

If interest rates go up, we are Greece, we are Porto Rico.

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: Discussing The Greek Collapse

Related trading instruments: National Bank Of Greece (NBG), EuroStoxx 50 Index, Dax Index;

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

What Is Better For Greece

In an ideal world it might be better for Greece to leave the Eurozone. If they wanted to set themselves up as some kind of limited government tax heaven, some kind of bastion of free market capitalism in Europe. Then Greece would come back strong. But given the electorate there and the way the political winds are blowing, if they were to leave the Eurozone they would be even more to the left. They would be even more to the left. They would be even more socialist. But the problem is socialism only works in Greece as long as you have Germany`s money.

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