Peter Schiff

“The only thing I can do with my bitcoin is give it to somebody else.”

“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.”

“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.”

“There is no such thing as agflation. Rising commodity prices, or increases in any prices, do not cause inflation. Inflation is what causes prices to rise. Of course, in market economies, prices for individual goods and services rise and fall based on changes in supply and demand, but it is only through inflation that prices rise in aggregate.”

“Gold actually has properties - you can use gold for all sorts of things. People value gold for the metal. Nobody values bitcoin for the bitcoin; they value it because they believe that they can exchange it for something else.”

“You don't help the economy by spending money.”

“When Trump was a candidate, he talked about the stock market, because, oh, the stock market was going up when Obama was president.”

“What got us out of the depression was capitalism, and we would have gotten out a lot quicker had the government not intervened.”

“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.”

“The American middle class used to be envy of the world. It was a byproduct of economic freedom. We had a very dynamic free-market economy and limited government. People were out there pursuing their own self-interest and creating employment opportunities.”

“The left-wing agenda wants us to think that the reason there was a depression was because the government didn't do anything. That's not true.”

“Greed is normally balanced by fear.”

“Wal-Mart creates entry level jobs for people who don't have a lot of skills; those jobs don't pay a lot.”

“In a free market, businesses compete for customers by keeping prices down and for labor by keeping wages up.”

“When the dollar collapses, it's not doing it in a vacuum. If the dollar loses value, it's doing so relative to some other currency. So the purchasing power that we lose, somebody else gets.”

“That's what's really bothering me about Trump is the hypocrisy, because when Trump was a candidate, and he got elected - because, by and large, he told the truth about the phony nature of the recovery.”

“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.”

“Trade deficits are OK under certain circumstance. 1. An emerging nation imports capital goods necessary to enhance its productivity. 2. A developed nation, with a current account surplus, uses some of its investment income to finance the purchases of additional consumer goods from abroad.”

“My investment advice is rooted in my understanding of economics.”

“Gold has worked for thousands of years, but now with the Internet, it works even better.”