Peter David Schiff (; born March 23, 1963) is an American

stock broker A stockbroker is a regulated broker, broker-dealer, or registered investment adviser (in the United States) who may provide financial advisory and investment management services and execute transactions such as the purchase or sale of stocks an ...

, financial commentator, and radio personality. He is

CEO A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especially ...

and chief global strategist of Euro Pacific Capital Inc., a

broker-dealer In financial services, a broker-dealer is a natural person, company or other organization that engages in the business of trading securities for its own account or on behalf of its customers. Broker-dealers are at the heart of the securities and ...

based in

Westport, Connecticut Westport is a town in Fairfield County, Connecticut, United States, along the Long Island Sound within Connecticut's Gold Coast. It is northeast of New York City. The town had a population of 27,141 according to the 2020 U.S. Census. History ...

. He is also involved in various roles in other financial services companies including Euro Pacific Asset Management, an independent investment advisor; Schiff Gold (formerly Euro Pacific Precious Metals); a

precious metals Precious metals are rare, naturally occurring metallic chemical elements of high economic value. Chemically, the precious metals tend to be less reactive than most elements (see noble metal). They are usually ductile and have a high lu ...

dealer; and Euro Pacific Bank, a

full-reserve bank Full-reserve banking (also known as 100% reserve banking, narrow banking, or sovereign money system) is a system of banking where banks do not lend demand deposits and instead, only lend from time deposits. It differs from fractional-reserve ban ...

Personal life

Schiff was born to a middle-class

Jewish Jews ( he, יְהוּדִים, , ) or Jewish people are an ethnoreligious group and nation originating from the Israelites Israelite origins and kingdom: "The first act in the long drama of Jewish history is the age of the Israelites""The ...

familyThe American Conservative: "Dr. Doom Runs for Senate" By Michael Brendan Dougherty
October 1, 2009 in

New Haven, Connecticut New Haven is a city in the U.S. state of Connecticut. It is located on New Haven Harbor on the northern shore of Long Island Sound in New Haven County, Connecticut and is part of the New York City metropolitan area. With a population of 134 ...

. His father,

Irwin Irwin may refer to: Places ;United States * Irwin, California * Irwin, Idaho * Irwin, Illinois * Irwin, Iowa * Irwin, Nebraska * Irwin, Ohio * Irwin, Pennsylvania * Irwin, South Carolina * Irwin County, Georgia * Irwin Township, Venango County ...

, who was the son of Jewish immigrants from

Poland Poland, officially the Republic of Poland, is a country in Central Europe. It is divided into 16 administrative provinces called voivodeships, covering an area of . Poland has a population of over 38 million and is the fifth-most populou ...

, served in the

US Army The United States Army (USA) is the land service branch of the United States Armed Forces. It is one of the eight U.S. uniformed services, and is designated as the Army of the United States in the U.S. Constitution.Article II, section 2, cla ...

during

World War II World War II or the Second World War, often abbreviated as WWII or WW2, was a world war that lasted from 1939 to 1945. It involved the World War II by country, vast majority of the world's countries—including all of the great power ...

. Schiff's parents divorced when he was young and he moved around the country with his mother and his brother, Andrew, from

Connecticut Connecticut () is the southernmost state in the New England region of the Northeastern United States. It is bordered by Rhode Island to the east, Massachusetts to the north, New York (state), New York to the west, and Long Island Sound to the ...

Manhattan Manhattan (), known regionally as the City, is the most densely populated and geographically smallest of the five boroughs of New York City. The borough is also coextensive with New York County, one of the original counties of the U.S. state ...

Florida Florida is a state located in the Southeastern region of the United States. Florida is bordered to the west by the Gulf of Mexico, to the northwest by Alabama, to the north by Georgia, to the east by the Bahamas and Atlantic Ocean, and ...

and finally to

Southern California Southern California (commonly shortened to SoCal) is a geographic and cultural region that generally comprises the southern portion of the U.S. state of California. It includes the Los Angeles metropolitan area, the second most populous urban ...

. Peter Schiff credits his father for introducing him to the

Austrian School The Austrian School is a heterodox school of economic thought that advocates strict adherence to methodological individualism, the concept that social phenomena result exclusively from the motivations and actions of individuals. Austrian scho ...

of economic thought. Irwin Schiff was a prominent figure in the US

tax protester A tax protester is someone who refuses to pay a tax claiming that the tax laws are unconstitutional or otherwise invalid. Tax protesters are different from tax resisters, who refuse to pay taxes as a protest against a government or its policie ...

movement. He died in federal prison in October 2015 while he was serving a sentence of at least 13 years for

tax evasion Tax evasion is an illegal attempt to defeat the imposition of taxes by individuals, corporations, trusts, and others. Tax evasion often entails the deliberate misrepresentation of the taxpayer's affairs to the tax authorities to reduce the tax ...

. Peter Schiff did not share his father's radical stance and by 1980, had urged him to stop his tax protest activities which he saw as "futile resistance". He later stated that while he had come to find his father's intellectual case "compelling", he was disinclined to follow his methods and his "idealism". Schiff commented, "The problem with my father is that he’s not practical. He was always going to lose". On October 20, 2015, which was four days after the death of his father, Schiff accused the

Federal Bureau of Prisons The Federal Bureau of Prisons (BOP) is a United States federal law enforcement agency under the Department of Justice that is responsible for the care, custody, and control of incarcerated individuals who have committed federal crimes; that i ...

of inhumanely treating his father and not allowing the usual humanitarian release.

Business career

Schiff began his career as a stockbroker at a

Shearson Lehman Brothers Shearson was the name of a series of investment banking and retail brokerage firms from 1902 until 1994, named for Edward ShearsonEuropac.net – Peter Schiff
. Retrieved November 3, 2010. In 1996, Schiff and a partner acquired an inactive

brokerage A broker is a person or firm who arranges transactions between a buyer and a seller for a commission when the deal is executed. A broker who also acts as a seller or as a buyer becomes a principal party to the deal. Neither role should be con ...

firm renamed it Euro Pacific Capital, and began operating it from a small office in

Los Angeles Los Angeles ( ; es, Los Ángeles, link=no , ), often referred to by its initials L.A., is the largest city in the state of California and the second most populous city in the United States after New York City, as well as one of the world ...

. They relocated the firm to

Darien, Connecticut Darien ( ) is a coastal town in Fairfield County, Connecticut, United States. With a population of 21,499 and a land area of just under 13 square miles, it is the smallest town on Connecticut's Gold Coast. It has the youngest population of any ...

, in 2005,
"Prophet of Doom? Darien market bear says U.S. investors' ship is sinking," article by Julie Fishman-Lapin in ''The Advocate'' of Stamford, Business section, August 6, 2006, pp. F1, F6 and later to

where it is currently headquartered with branch offices across the US in

Scottsdale, Arizona , settlement_type = City , named_for = Winfield Scott , image_skyline = , image_seal = Seal of Scottsdale (Arizona).svg , image_blank_emblem = City of Scottsdale Script Logo.svg , nic ...

;

Boca Raton Boca Raton ( ; es, Boca Ratón, link=no, ) is a city in Palm Beach County, Florida, United States. It was first incorporated on August 2, 1924, as "Bocaratone," and then incorporated as "Boca Raton" in 1925. The population was 97,422 in the ...

Newport Beach Newport Beach is a coastal city in South Orange County, California. Newport Beach is known for swimming and sandy beaches. Newport Harbor once supported maritime industries however today, it is used mostly for recreation. Balboa Island draws ...

Manhattan Beach, California Manhattan Beach is a city in southwestern Los Angeles County, California, United States, on the Pacific coast south of El Segundo, west of Hawthorne and Redondo Beach, and north of Hermosa Beach. As of the 2010 census, the population was 3 ...

; and

New York City New York, often called New York City or NYC, is the List of United States cities by population, most populous city in the United States. With a 2020 population of 8,804,190 distributed over , New York City is also the L ...

. Schiff founded Euro Pacific Bank, a full reserve banking operation originally in St. Vincent and the Grenadines.

Investigation

In October 2020, a joint collaboration by the Australian newspaper ''The Age'', the Australian version of ''60 Minutes'' and ''The New York Times'' reported that a team of international investigators were scrutinizing Euro Pacific Bank. On October 18, 2020, the ''

60 Minutes ''60 Minutes'' is an American television news magazine broadcast on the CBS television network. Debuting in 1968, the program was created by Don Hewitt and Bill Leonard, who chose to set it apart from other news programs by using a unique st ...

'' Australia episode "Offshore bank at the centre of enormous worldwide tax evasion investigation" said that tax authorities in Australia, the United Kingdom, Canada, America, and the Netherlands believed Euro Pacific Bank was facilitating tax evasion and serious organized crime. ''The Age'' reported that Euro Pacific Bank became the target of Operation Atlantis, the world's largest tax evasion probe. Asked why the US Internal Revenue Service visited him on January 24, Schiff refused to elaborate, saying, “I've already answered the question that we're not involved in any illegal activity,” and adding the bank “turns down far more accounts than we approve because our compliance is so rigorous". The Age reported that "Schiff threatened to sue the publication, ripped off his microphone and stormed out of his own living room." In June 2022, the Puerto Rico Office of the Commissioner of Financial Institutions ordered Euro Pacific Bank to be shut down due to insufficient capital. Schiff claimed this was due to the allegations by 60 Minutes Australia and the subsequent investigations, saying, "There was no way those allegations were true, but once those stories broke, the bank's business imploded." However, Operation Atlantis yielded no charges of money laundering or any other illegal activity, which Schiff views as a vindication.

Economic and public policy views

Financial crisis forecast

In an August 2006 interview, Schiff said, "The United States is like the ''

Titanic RMS ''Titanic'' was a British passenger liner, operated by the White Star Line, which sank in the North Atlantic Ocean on 15 April 1912 after striking an iceberg during her maiden voyage from Southampton, England, to New York City, Unite ...

'' and I am here with the lifeboat trying to get people to leave the ship.... I see a real financial crisis coming for the United States." On December 31, 2006, in a telecast debate on

Fox News The Fox News Channel, abbreviated FNC, commonly known as Fox News, and stylized in all caps, is an American multinational conservative cable news television channel based in New York City. It is owned by Fox News Media, which itself is o ...

, Schiff forecast that "what's going to happen in 2007 is that real estate prices," which had peaked in December 2005, "are going to come crashing back down to Earth." In his 2007 book '' Crash Proof'', Schiff wrote that US economic policies were fundamentally unsound. Since then he has said many times that without a change in US government economic policy, there will be hyperinflation and that the imbalance between the number of goods the US consumed and what it produced would eventually lead to problems for the

US economy The United States is a highly developed mixed-market economy and has the world's largest nominal GDP and net wealth. It has the second-largest by purchasing power parity (PPP) behind China. It has the world's seventh-highest per capita GD ...

. As a remedy, he favored increased personal savings and production to stimulate economic growth. Schiff cited the US's low personal savings rate as one of the causes of its transformation from the world's largest creditor nation in the 1970s to the largest debtor nation in 2000. He attributed the low savings rate to what he asserts are high

inflation In economics, inflation is an increase in the general price level of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduct ...

and artificially low interest rates set by the

Federal Reserve The Federal Reserve System (often shortened to the Federal Reserve, or simply the Fed) is the central banking system of the United States of America. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a ...

. In 2008 and 2010 appearances on Fox News and financial news network

CNBC CNBC (formerly Consumer News and Business Channel) is an American basic cable business news channel. It provides business news programming on weekdays from 5:00 a.m. to 7:00 p.m., Eastern Time, while broadcasting talk s ...

, Schiff mentioned factors such as speculation and "the absence of lending standards" as factors that had contributed to the housing crisis, which began in 2007. On December 13, 2007, in an interview on the

Bloomberg TV Bloomberg Television (on-air as Bloomberg) is an American-based pay television network focusing on business and capital market programming, owned by Bloomberg L.P. It is distributed globally, reaching over 310 million homes worldwide. It is hea ...

show "Open Exchange," Schiff added that he felt that the crisis would extend to the

credit card A credit card is a payment card issued to users (cardholders) to enable the cardholder to pay a merchant for goods and services based on the cardholder's accrued debt (i.e., promise to the card issuer to pay them for the amounts plus the ...

lending industry, and he called consumer credit "a cancer on the free-market economy." Schiff said that interest rates would rise, that the dollar would "collapse," and that all classes of dollar-denominated assets would fall in value relative to non-US assets. He predicted "a huge crisis" and "the blow-up of credit card finance" in 2008, with the result that consumer credit card spending limits would be "slashed" by card issuers. He added that Americans would no longer be able to make purchases using their credit card lines. This prediction went unrealized. Referring to the housing market, Schiff went on to criticize the policy of the Bush administration to "vilify and threaten the lenders" for reckless borrowing. In a March 2009 speech, Schiff said that it would be impossible for the

US public debt The national debt of the United States is the total national debt owed by the federal government of the United States to Treasury security holders. The national debt at any point in time is the face value of the then-outstanding Treasury secu ...

China China, officially the People's Republic of China (PRC), is a country in East Asia. It is the world's List of countries and dependencies by population, most populous country, with a Population of China, population exceeding 1.4 billion, slig ...

to be repaid unless the US dollar's value is substantially diluted through inflation. In September 2009, with gold below $1,000 per ounce, Schiff said that he foresaw gold at over $5000 per ounce in the future, and that the stock market rally which began that year was a "rally in a bear market."

Taxation

In March 2011, Schiff stated that a national

sales tax A sales tax is a tax paid to a governing body for the sales of certain goods and services. Usually laws allow the seller to collect funds for the tax from the consumer at the point of purchase. When a tax on goods or services is paid to a gove ...

should replace both personal and corporate

income taxes An income tax is a tax imposed on individuals or entities (taxpayers) in respect of the income or profits earned by them (commonly called taxable income). Income tax generally is computed as the product of a tax rate times the taxable income. Ta ...

, as he believes that the latter discourages work as opposed to a

consumption tax A consumption tax is a tax levied on consumption spending on goods and services. The tax base of such a tax is the money spent on consumption. Consumption taxes are usually indirect, such as a sales tax or a value-added tax. However, a consumpti ...

. His second choice is a

flat tax A flat tax (short for flat-rate tax) is a tax with a single rate on the taxable amount, after accounting for any deductions or exemptions from the tax base. It is not necessarily a fully proportional tax. Implementations are often progress ...

rate, which would abolish all deductions including the very popular home mortgage tax deduction, as he believes that the state should not subsidize buying homes as opposed to renting.

Medicare

In August 2012, Schiff criticized

Paul Ryan Paul Davis Ryan (born January 29, 1970) is an American former politician who served as the 54th speaker of the United States House of Representatives from 2015 to 2019. A member of the Republican Party, he was the vice presidential nominee i ...

's '' Path to Prosperity'' by saying that it is "too little, too late." Referring to Ryan's plan to reform Medicare, Schiff said, "Why would we want to preserve it? It's a

Ponzi scheme A Ponzi scheme (, ) is a form of fraud that lures investors and pays profits to earlier investors with funds from more recent investors. Named after Italian businessman Charles Ponzi, the scheme leads victims to believe that profits are comin ...

... What we really need is real Medicare cuts today for people who are already on the system."

Bitcoin

Peter Schiff is a vocal

Bitcoin Bitcoin (abbreviation: BTC; sign: ₿) is a decentralized digital currency that can be transferred on the peer-to-peer bitcoin network. Bitcoin transactions are verified by network nodes through cryptography and recorded in a public distr ...

sceptic. At times he has remarked that he sees Bitcoin as resembling the

tulip mania Tulip mania ( nl, tulpenmanie) was a period during the Dutch Golden Age when contract prices for some bulbs of the recently introduced and fashionable tulip reached extraordinarily high levels. The major acceleration started in 1634 and then d ...

bubble. On Sunday, Jan 19, 2020, Schiff claimed that his Bitcoin wallet got 'corrupted' and that he had therefore lost all the bitcoin he ever owned, through no fault of his own. "My wallet got corrupted somehow and my password is no longer valid. So now not only is my Bitcoin intrinsically worthless; it has no market value either. I knew owning Bitcoin was a bad idea, I just never realized it was this bad." This claim turned out to be false as later explained by Erik Voorhees, as he confirmed that he had, indeed, helped Schiff to set up his Bitcoin wallet, and wrote that Schiff "forgot (the) pw, and never recorded (his recovery) phrase". "If I gave him an ounce of gold and he dropped it on the sidewalk would he similarly condemn the precious metal as a foolish monetary system?"

Responses

Schiff's warnings of a coming

economic collapse Economic collapse, also called economic meltdown, is any of a broad range of bad economic conditions, ranging from a severe, prolonged depression with high bankruptcy rates and high unemployment (such as the Great Depression of the 1930s), to a ...

earned him the

moniker A nickname is a substitute for the proper name of a familiar person, place or thing. Commonly used to express affection, a form of endearment, and sometimes amusement, it can also be used to express defamation of character. As a concept, it is ...

"Dr. Doom", but later articles in ''

Business Week ''Bloomberg Businessweek'', previously known as ''BusinessWeek'', is an American weekly business magazine published fifty times a year. Since 2009, the magazine is owned by New York City-based Bloomberg L.P. The magazine debuted in New York City ...

'' and other business news journals reported that Schiff "more or less accurately" predicted the

financial crisis of 2007–2010 Finance is the study and discipline of money, currency and capital assets. It is related to, but not synonymous with economics, the study of production, distribution, and consumption of money, assets, goods and services (the discipline of fi ...

while the "easiest criticism of macroeconomists is that nearly all failed to foresee the recession despite plenty of warning signs." A

YouTube YouTube is a global online video sharing and social media platform headquartered in San Bruno, California. It was launched on February 14, 2005, by Steve Chen, Chad Hurley, and Jawed Karim. It is owned by Google, and is the second mo ...

fan video, "Peter Schiff was right," became popular in late 2008 and 2009. It contained a compilation of his appearances on various financial TV news programs between 2005 and 2007. Depending on the point at which they adopted his strategies, followers of Schiff may have had strong, average or poor returns. In January 2009, economic

blogger A blog (a truncation of "weblog") is a discussion or informational website published on the World Wide Web consisting of discrete, often informal diary-style text entries (posts). Posts are typically displayed in reverse chronological order ...

and investment adviser Michael Shedlock wrote, "I have talked with many who claim they have invested with Schiff and are down anywhere from 40% to 70% in 2008." Later that week, an article appeared in the ''

Wall Street Journal ''The Wall Street Journal'' is an American business-focused, international daily newspaper based in New York City, with international editions also available in Chinese and Japanese. The ''Journal'', along with its Asian editions, is published ...

'' reporting that Schiff's broker-dealer firm had "advised its clients to bet that the dollar would weaken significantly and that foreign stocks would outpace their U.S. peers" but the dollar later advanced against most currencies, "magnifying the losses from foreign stocks." In response to Shedlock's criticism, Schiff wrote that "to examine the effectiveness of my investment strategy immediately following a major correction by looking only at those accounts who adopted the strategy at the previous peak is unfair and distortive." In December 2012 Schiff wrote an article entitled "Mish Shedlock exposed" in which he criticized Shedlock for selective use of short-term data in the financial crisis and argued that his investment strategy had made strong returns over the long-run. Schiff's views have been criticized several times by economist

Paul Krugman Paul Robin Krugman ( ; born February 28, 1953) is an American economist, who is Distinguished Professor of Economics at the Graduate Center of the City University of New York, and a columnist for ''The New York Times''. In 2008, Krugman was t ...

, who defines

very differently from Schiff, focusing on CPI increases rather than monetary and asset price inflation. Schiff believes inflation eventually leads to increases in consumer prices after an indefinite waiting period. In October 2010, Krugman wrote, "I keep being told that Peter Schiff has been right about everything; so, how's that hyperinflation thing going?" In December 2011, Krugman quoted Peter Schiff's statement from December 2009: "I know inflation is going to get worse in 2010. Whether it's going to run out of control or it's going to take until 2011 or 2012, but I know we're going to have a major currency crisis coming soon. It's going to dwarf the financial crisis and it's going to send consumer prices absolutely ballistic, as well as interest rates and unemployment." Krugman noted that inflation had instead remained low and concluded that Schiff's type of economic "model is all wrong" since it predicts that a tripling of the

monetary base In economics, the monetary base (also base money, money base, high-powered money, reserve money, outside money, central bank money or, in the UK, narrow money) in a country is the total amount of money created by the central bank. This include ...

, such as had just occurred, must lead to "dire effects on the price level." In January 2012, Schiff stated that a US debt crisis and high consumer price inflation had been delayed merely by government policy. In November 2012 and again in November 2014, Krugman repeated his criticisms of Schiff's predictions of eventual high consumer price inflation and rising interest rates in America. In November 2008, Schiff said he supported the reduction of government economic regulation and was concerned that the Obama administration might instead increase such regulation. He said that the late-2000s financial crisis provided an opportunity to transition from borrowing and spending to saving and producing. He was critical of the US government's efforts to "ease the pain" with economic stimulus packages and bailout, as he believed that replacing "legitimate savings with a printing press" would result in asset price inflation, eventual consumer price inflation, and if left unchecked potentially hyperinflation. For example, in 2009, Schiff predicted a "protracted period of economic decline accompanied by rapid increases in consumer prices." Schiff's critics pointed out that although asset price inflation has been significant, consumer price inflation rates remained very low in the five years that followed despite his predictions. When the Fed ended the

quantitative easing Quantitative easing (QE) is a monetary policy action whereby a central bank purchases predetermined amounts of government bonds or other financial assets in order to stimulate economic activity. Quantitative easing is a novel form of monetary pol ...

program in October 2014, the general opinion was the Fed would conduct multiple rate hikes in the year 2015. In contrast, Schiff predicted that the market could not withstand even a minor interest rate increase, thus the Fed announcing a higher rate would be very unlikely. However, he did open up the possibility of a few basis point rate hike but anticipated that it would have major impact on the equity market and would lead the US into recession, therefore the Fed would be forced to reverse its policy and resume the QE program.

Political career

2008 Ron Paul presidential campaign

Schiff was an economic adviser to

Ron Paul Ronald Ernest Paul (born August 20, 1935) is an American author, activist, physician and retired politician who served as the U.S. representative for Texas's 22nd congressional district from 1976 to 1977 and again from 1979 to 1985, as we ...

's 2008 presidential campaign.

2010 US Senate campaign

In December 2008, some Connecticut citizens created a website encouraging Schiff to campaign against incumbent senator

Christopher Dodd Christopher John Dodd (born May 27, 1944) is an American lobbyist, lawyer, and Democratic Party politician who served as a United States senator from Connecticut from 1981 to 2011. Dodd is the longest-serving senator in Connecticut's histor ...

. Approximately 5000 people made campaign contributions using the web site. On February 21, 2009, a moneybomb raised over $20,000 for Schiff's campaign. In a May 2009 video blog, Schiff said that he was seriously considering a run for the Senate, and when questioned by a ''

Washington Post ''The Washington Post'' (also known as the ''Post'' and, informally, ''WaPo'') is an American daily newspaper published in Washington, D.C. It is the most widely circulated newspaper within the Washington metropolitan area and has a large na ...

'' reporter, he said the chance of him entering politics was "better than 50-50." In June 2009, Schiff commissioned a poll of likely voters which indicated that he trailed Dodd in popularity by only four percentage points. On July 9, 2009, Schiff launched an

exploratory committee In the election politics of the United States, an exploratory committee is an organization established to help determine whether a potential candidate should run for an elected office. They are most often cited in reference to candidates for pre ...

and an official campaign website. After giving some hints he would run on ''

The Daily Show ''The Daily Show'' is an American late-night talk and satirical news television program. It airs each Monday through Thursday on Comedy Central with release shortly after on Paramount+. ''The Daily Show'' draws its comedy and satire form fr ...

'', Schiff officially announced his candidacy for the Republican nomination on September 17, 2009, during the

MSNBC MSNBC (originally the Microsoft National Broadcasting Company) is an American news-based pay television cable channel. It is owned by NBCUniversala subsidiary of Comcast. Headquartered in New York City, it provides news coverage and political ...

Morning Joe ''Morning Joe'' is an American morning news and liberal talk show, airing weekdays from 6:00 a.m. to 10:00 a.m. Eastern Time on the cable news channel MSNBC. It features former Republican Congressman Joe Scarborough reporting and discu ...

'' show. By October 2009, Schiff had received more than 10,000 donations and many e-mails from around the world. Schiff's campaign received endorsements from

and

Steve Forbes Malcolm Stevenson Forbes Jr. (; born July 18, 1947) is an American publishing executive and politician who is the editor-in-chief of ''Forbes'', a business magazine. He is the son of longtime ''Forbes'' publisher Malcolm Forbes and the grandso ...

. At the May 2010 Republican convention, Linda McMahon received the most delegate votes but not enough to prevent an August

primary election Primary elections, or direct primary are a voting process by which voters can indicate their preference for their party's candidate, or a candidate in general, in an upcoming general election, local election, or by-election. Depending on the ...

challenge from

Rob Simmons Robert Ruhl "Rob" Simmons (born February 11, 1943) is an American politician and retired U.S. Army colonel who served as a member of the United States House of Representatives from 2001 to 2007, representing Connecticut's second congressional d ...

. Schiff failed to qualify for the primary at the convention but became the only Republican candidate to successfully petition on to the ballot. McMahon won the primary with 49% of the vote. Simmons came in second with 28% of the vote, and Schiff came in third with 23% of the vote. The general election was won by the Democratic Party primary winner,

Richard Blumenthal Richard Blumenthal (; born February 13, 1946) is an American lawyer and politician who is the senior United States senator from Connecticut, a seat he has held since 2011. A member of the Democratic Party, he is one of the wealthiest members of ...

Other endorsements

In April 2008, Schiff endorsed

Murray Sabrin Murray Sabrin (born December 21, 1946) is a professor of finance in the Anisfield School of Business at Ramapo College and a perennial candidate for public office in New Jersey. Family, education, and affiliations Sabrin was born in Bad Wörish ...

for the U.S. Senate seat in

New Jersey New Jersey is a state in the Mid-Atlantic and Northeastern regions of the United States. It is bordered on the north and east by the state of New York; on the east, southeast, and south by the Atlantic Ocean; on the west by the Delawa ...

. Schiff did not endorse McMahon in the 2012 Republican primary but rather her opponent, former representative

Christopher Shays Christopher Hunter Shays (born October 18, 1945) is an American politician. He previously served in the United States House of Representatives as representative of the 4th District of Connecticut. He is a member of the Republican Party. Sha ...

. Shays lost in the primary to McMahon, who lost in the general election to Democrat

Chris Murphy Christopher Scott Murphy (born August 3, 1973) is an American lawyer, author, and politician serving as the junior United States senator from Connecticut since 2013. A member of the Democratic Party, he previously served in the United States H ...

Media career

Radio

Prior to the financial crisis, Schiff frequently appeared on CNBC, Fox News and

Bloomberg Bloomberg may refer to: People * Daniel J. Bloomberg (1905–1984), audio engineer * Georgina Bloomberg (born 1983), professional equestrian * Michael Bloomberg (born 1942), American businessman and founder of Bloomberg L.P.; politician and m ...

to voice his opinions on the US economy and financial markets. However, after the financial crisis, his bookings dropped by 75 to 85% on these networks. In August 2012, Schiff replaced G. Gordon Liddy in the 10 a.m.–12 p.m. time slot on the Radio America network Internet broadcast.

Webcast

Schiff is also a video blogger in the internet and distributes his media through

, Euro Pacific Capital, and

iTunes iTunes () is a software program that acts as a media player, media library, mobile device management utility, and the client app for the iTunes Store. Developed by Apple Inc., it is used to purchase, play, download, and organize digital mu ...

. He has appeared four times as a guest on Joe Rogan's YouTube series and podcast.

Television

Schiff has been a commentator on

and

Fox Business Fox Business (officially known as Fox Business Network, or FBN) is an American business news channel and website publication owned by the Fox News Media division of Fox Corporation. The channel broadcasts primarily from studios at 1211 Avenu ...

. He is a frequent guest on Boom Bust.

Books

* '' Crash Proof: How to Profit From the Coming Economic Collapse'', 2007, * ''The Little Book of Bull Moves in Bear Markets: How to Keep your Portfolio Up When the Market is Down'', 2008, * ''Crash Proof 2.0: How to Profit From the Economic Collapse, 2nd Edition'', 2009, * ''The Little Book of Bull Moves, Updated and Expanded: How to Keep Your Portfolio Up When the Market Is Up, Down, Or Sideways'', 2010,
澳门威尼斯人官网开户
* ''

How an Economy Grows and Why It Crashes ''How an Economy Grows and Why it Crashes'' (2010) is an illustrated book on various economic topics by Peter Schiff and Andrew Schiff. The book allegorically explores such topics as inflation, deficit spending, central banking, international ...

'', 2010,
How an Economy Grows and Why It Crashes , Wiley
* ''The Real Crash: America's Coming Bankruptcy – How to Save Yourself and Your Country'', 2012,
Book details

References

External links

SchiffGold
* * * * Appearances on

The Joe Rogan Experience ''The Joe Rogan Experience'' is a podcast hosted by American comedian, presenter, and UFC color commentator Joe Rogan. It launched on December 24, 2009, on YouTube by Rogan and comedian Brian Redban, who was its sole co-host and producer unti ...

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{{DEFAULTSORT:Schiff, Peter 1963 births Living people 20th-century American businesspeople 20th-century American male writers 20th-century American non-fiction writers 21st-century American businesspeople 21st-century American male writers 21st-century American non-fiction writers American business writers American chairpersons of corporations American chief executives of financial services companies American columnists American commodities traders American corporate directors American currency traders American derivatives traders American economics writers American finance and investment writers American financial analysts American financial commentators American financial company founders American financiers American investment advisors American investment bankers American investors American male bloggers American bloggers American male non-fiction writers American money managers American people of Polish-Jewish descent American podcasters American political commentators American political philosophers American political writers American radio producers American stock traders American stockbrokers American web producers American YouTubers Anti-corporate activists Austrian School economists Businesspeople from New Haven, Connecticut American businesspeople in metals Connecticut Libertarians Connecticut Republicans Haas School of Business alumni Jewish American bankers Jewish American entertainers Jewish American writers Libertarian economists Libertarian theorists American male YouTubers Monetary reformers Non-interventionism Radio personalities from Connecticut Stock and commodity market managers Writers from New Haven, Connecticut