Peter Schiff: Before the Congressional Committee of Oversight & Reform [Precision Edit] [HD]

Peter Schiff: CEO of Euro Pacific Capital: Testimony before Congressional Committee of Oversight & Reform's Sub-Committee on Regulatory Affairs & Fiscal Oversight [Precisely Edited] [HD] [9/13/11]

Precisely edited to capture all of Peter Schiff's comments, arguments, and discussions.

Peter David Schiff is an American investment broker, author, and financial commentator. President and chief global strategist of Euro Pacific Capital Inc., a broker-dealer based in Westport, Connecticut; Schiff supports the Austrian business cycle theory, a theory which proposes that market regulatory and monetary manipulation is a fundamental tool for the misappropriation of investment capital.

He is known for his bearish views on the dollar and dollar denominated assets, while bullish on investment in tangible assets, as well as foreign stocks and currencies.

http://www.europac.net/
http://www.schiffradio.com

"You see, the only way a society can really increase it's future consumption is to save. and by definition saving is under-consumption, it is a lack of consumption, it represents self sacrifice. But when you save and reduce your consumption today, you have money that you can invest, compound interest, and returns, ultimately you can enjoy enhanced future consumption. In America, we have indulged ourselves in the present at the expense of the future." - Peter D. Schiff 2006

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[yaahme]

Funny how this "hearing" refuses to "hear" what Peter has schooled them on.

Buckle up boys and girls.

[msungs]

Peter Schiff shrugged.

[IBloodSweatTears]

17:40 - I THINK PETER HANDED HER A TAX STATEMENT. LOL GREAT MOMENT.

[preppy187]

Seems like everyone knows the government needs to get out the way but NOBODY is DOING IT!!!

[TorontoLibertarian]

Dr. Boushey is a dim bulb.

[2eelShmeal]

We may need to just cause a run on the banks. The legal system is too deep in corruption to get new people in and amend the constitution. It won't happen in 100 years.

Buckle up is right.. We are in for HELL. Be ready to fight that's all I'm saying.

[WheresBraveheart]

That bitch got powned!

[Aquiliae]

Why aren't there more representatives attending this hearing? Committee meetings on economic policy with input from business owners like Peter should be a top priority. Instead, when our deluded government destroys our country, they'll have no one to blame but themselves.

[SeppLainer]

@emp0rizzle

Yep. To prevent turn-over? I'm surprised Peter didn't scream "DUH! THAT"S THE POINT!"

That's how wages naturally increase, when JOB CREATORS are COMPETING FOR EMPLOYEES. That's how the free market cures the stupid argument that we need minimum wages and such nonsense.

Why should a worker at McDonalds be paid the same as a mechanical engineer? The income inequality argument is void of any rational reasoning, just jealousy.

[FreeMarketForces]

16:27

good question, and I like how Peter writes down how pays and explains how he much people are already taxed.

[FreeMarketForces]

Nice job Peter!