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Line 29: \| box_width = }} '''Peter David Schiff''' ({{IPAc-en\|ʃ\|ɪ\|f}}; born March 23, 1963; nicknamed "Dr. Doom")<ref>{{cite ~~web~~news \|url=https://www.thestreet.com/opinion/dr-doom-zeroes-in-on-inflation-10404530 \|title='Dr. Doom' Zeroes in on Inflation \|date=February 22, 2008 \|~~website~~work=[[TheStreet]] \|last=Worden \|first=Nat \|access-date=December 16, 2023 \|archive-date=March 6, 2023 \|archive-url=https://web.archive.org/web/20230306203052/https://www.thestreet.com/opinion/dr-doom-zeroes-in-on-inflation-10404530 \|url-status=live }}</ref><ref>{{cite news \|url=https://jewishbusinessnews.com/2014/08/05/dr-doom-peter-schiff-goes-off-the-air/ \|title='Dr. Doom' Peter Schiff Goes off the Air \|date=August 5, 2014 \|website=[[Jewish Business News]] \|last=Weiss \|first=Vered \|access-date=December 16, 2023 \|archive-date=December 7, 2023 \|archive-url=https://web.archive.org/web/20231207061242/https://jewishbusinessnews.com/2014/08/05/dr-doom-peter-schiff-goes-off-the-air/ \|url-status=live }}</ref><ref~~>{{cite~~ ~~web \|title~~name=~~The Man Who Predicted The Economic Meltdown \|date=2008~~"Folkenflik-~~12-04 \|website=[[NPR]] \|url=https://www.npr.org/~~2008~~/12/04/97801606/the-man-who-predicted-the-economic-meltdown~~" ~~\|access-date=March 6, 2023 \|archive-date=March 6, 2023 \|archive-url=https:~~/~~/web.archive.org/web/20230306203050/https://www.npr.org/2008/12/04/97801606/the-man-who-predicted-the-economic-meltdown \|url-status=live }}</ref~~> is an American [[stockbroker]], financial commentator, and radio personality. He co-founded Echelon Wealth Partners in Canada (formerly Euro Pacific Canada).<ref>{{Cite web \|title=Echelon Wealth Partners website \|url=https://www.echelonpartners.com/ \|access-date=December 7, 2023 \|archive-date=July 2, 2023 \|archive-url=https://web.archive.org/web/20230702211716/https://www.echelonpartners.com/ \|url-status=live }}</ref> He is involved in other financial services companies including Euro Pacific Asset Management, as an independent investment advisor,<ref>{{Cite web\|url=https://europacificfunds.com/about/\|title=The Company\|publisher=Euro Pacific Asset Management\|access-date=October 4, 2020\|archive-date=October 10, 2020\|archive-url=https://web.archive.org/web/20201010074455/https://europacificfunds.com/about/\|url-status=live}}</ref> and Schiff Gold (formerly Euro Pacific Precious Metals).<ref>{{Cite web \|url=https://schiffgold.com/about/ \|title=About SchiffGold \|date=April 16, 2015 \|access-date=October 4, 2020 \|archive-date=October 8, 2020 \|archive-url=https://web.archive.org/web/20201008034120/https://schiffgold.com/about/ \|url-status=live }}</ref> He ~~predicted~~has ~~the~~criticised ~~[[2008~~US ~~crash\|2008~~banking ~~financial~~and ~~crisis]]~~credit practices.<ref name="Folkenflik-2008">{{Cite ~~web~~news \|last=Folkenflik \|first=David \|date=December 4, 2008 \|title=The Man Who Predicted The Economic Meltdown \|~~website~~work=[[NPR]] \|url=https://www.npr.org/2008/12/04/97801606/the-man-who-predicted-the-economic-meltdown \|access-date=March 6, 2023 \|archive-date=March 6, 2023 \|archive-url=https://web.archive.org/web/20230306203050/https://www.npr.org/2008/12/04/97801606/the-man-who-predicted-the-economic-meltdown \|url-status=live }}</ref> ==Personal life== Schiff was born to a middle-class [[Jewish]] family<ref name="Dougherty-2009">{{Cite web\|last=Dougherty \|first=Michael \|title=Dr. Doom Runs for Senate \|publisher=[[The American Conservative~~-2015">[http~~]] \|date=October 1, 2009 \|url=https://www.theamericanconservative.com~~/articles~~/dr-doom-runs-for-senate/ ~~The~~\|access-date=June ~~American~~28, ~~Conservative:~~2024 ~~"Dr. Doom Runs for Senate" By Michael Brendan Dougherty] {{Webarchive~~\|archive-url=https://web.archive.org/web/20150402105738/http://www.theamericanconservative.com/articles/dr-doom-runs-for-senate/ \|archive-date=April 2, 2015 \|url-status=live}} ~~October 1, 2009~~</ref> in [[New Haven, Connecticut]]. His father, [[Irwin Schiff]], who was the son of Jewish immigrants from Poland, served in the [[US Army]] during [[World War II]]. Schiff's parents divorced when he was young and he moved around the country with his mother and his brother, Andrew, from [[Connecticut]] to [[Manhattan]] to [[Florida]] and finally to [[Southern California]].<ref name="~~The American Conservative~~Dougherty-~~2015~~2009" /> Peter Schiff credits his father for introducing him to the [[Austrian School]] of economic thought.<ref>{{Cite web\|last=Swanson\|first=Tim\|title=Interview with Peter Schiff\|publisher=[[Ludwig von Mises Institute]]\|date=April 21, 2008\|url=http://mises.org/blog/interview-peter-schiff\|access-date=April 11, 2010\|archive-url=https://web.archive.org/web/20150626233232/https://mises.org/blog/interview-peter-schiff\|archive-date=June 26, 2015\|url-status=live}}</ref> Irwin Schiff was a prominent figure in the US [[tax protester]] movement. He died in federal prison in October 2015 while he was serving a sentence of at least 13 years for [[tax evasion]].<ref>{{Cite news\|url=https://www.nytimes.com/2006/02/25/business/antitax-advocate-receives-13-years.html\|title=Anti-Tax Advocate Receives 13 Years\|date=February 25, 2006\|work=The New York Times\|access-date=July 23, 2013\|archive-url=https://web.archive.org/web/20170927000324/http://www.nytimes.com/2006/02/25/business/antitax-advocate-receives-13-years.html\|archive-date=September 27, 2017\|url-status=live}}</ref><ref>{{Cite press release\|url=http://schiffforsenate.com/?q=news/peter-schiff-announces-bid-us-senate\|title=Peter Schiff Announces Bid for US Senate\|date=September 17, 2009\|publisher=Peter Schiff for Senate 2010\|access-date=November 17, 2009\|url-status=dead\|archive-url=https://web.archive.org/web/20150626111724/http://schiffforsenate.com/?q=news%2Fpeter-schiff-announces-bid-us-senate\|archive-date=June 26, 2015\|df=mdy-all}}</ref> 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".<ref>{{cite journal\|title=Irwin Schiff, Fervent Opponent of Federal Income Taxes, Dies at 87\|last1=Hevesi\|first1=Dennis\|journal=The New York Times\|date=October 19, 2015\|url=https://www.nytimes.com/2015/10/20/business/yourtaxes/irwin-schiff-fervent-opponent-of-federal-income-taxes-dies-at-87.html\|access-date=July 4, 2022\|archive-date=July 5, 2022\|archive-url=https://web.archive.org/web/20220705191712/https://www.nytimes.com/2015/10/20/business/yourtaxes/irwin-schiff-fervent-opponent-of-federal-income-taxes-dies-at-87.html\|url-status=live}}</ref> On October 20, 2015, four days after the death of his father, Schiff accused the [[Federal Bureau of Prisons]] of inhumanely treating his father and not allowing the usual humanitarian release.<ref>{{cite journal\|title=Tax Protester Irwin Dies in Prison at 87\|author=Gattoni-Celli, Luca\|journal=Tax Notes Today\|date=October 2015\|issue=2015 TNT 202–4}}</ref> Line 39: Schiff began his career as a stockbroker at a [[Shearson#Shearson Lehman Brothers\|Shearson Lehman Brothers]] brokerage in the early 1990s.<ref>[http://www.europac.net/members/peter_schiff Europac.net – Peter Schiff] {{Webarchive\|url=https://web.archive.org/web/20110806105628/http://www.europac.net/members/peter_schiff \|date=August 6, 2011 }}. Retrieved November 3, 2010.</ref> In 1996, Schiff and a partner acquired an inactive [[broker-dealer\|brokerage]] firm and renamed it Euro Pacific Capital, and began operating it from a small office in Los Angeles.<ref name="O'Keefe-2009">{{Cite news\|last=O'Keefe\|first=Brian\|title=Oh, he saw it coming\|newspaper=[[Fortune (magazine)\|Fortune]]\|date=January 23, 2009\|url=https://money.cnn.com/2009/01/20/magazines/fortune/okeefe_schiff.fortune/index.htm\|access-date=April 14, 2010\|archive-url=https://web.archive.org/web/20100413100457/http://money.cnn.com/2009/01/20/magazines/fortune/okeefe_schiff.fortune/index.htm\|archive-date=April 13, 2010\|url-status=live}}</ref> They relocated the firm to [[Darien, Connecticut]], in 2005,<ref>[http://www.tmcnet.com/usubmit/2006/08/06/1774568.htm] {{Webarchive\|url=https://web.archive.org/web/20140201233508/http://www.tmcnet.com/usubmit/2006/08/06/1774568.htm\|date=February 1, 2014}} "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</ref> and later to [[Westport, Connecticut]], where it is currently headquartered with branch offices across the US in [[Scottsdale, Arizona]]; [[Boca Raton]], Florida; [[Newport Beach]] and [[Manhattan Beach, California]]; and New York City.<ref>{{cite web\|url=http://www.europac.com/about/company_profile#block-views-branch_offices-block_1\|title=Company Profile – Euro Pacific Capital\|date=March 27, 2018\|website=www.europac.com\|access-date=July 21, 2018\|archive-url=https://web.archive.org/web/20180721132542/http://www.europac.com/about/company_profile#block-views-branch_offices-block_1\|archive-date=July 21, 2018\|url-status=live}}</ref> Schiff sold Euro Pacific Capital, ~~and~~which is now ~~renamed as~~called [[Alliance Global Partners]].<ref>{{Cite web \|title=Alliance Global Partners www.allianceg.com \|url=https://www.allianceg.com/ \|access-date=December 7, 2023 \|archive-date=December 7, 2023 \|archive-url=https://web.archive.org/web/20231207180750/https://www.allianceg.com/ \|url-status=live }}</ref> Schiff founded [[Euro Pacific Bank]], a [[full reserve]] banking operation originally in [[Saint Vincent and the Grenadines\|St. Vincent and the Grenadines]].<ref>{{cite web \| title=Peter Schiff's Euro Pacific Bank Introduces a Silver Backed Debit Card – DGC Magazine \| website=DGC Magazine \| date=16 August 2016 \| url=http://dgcmagazine.com/peter-schiffs-euro-pac-bank-introduces-a-silver-backed-debit-card/ \| access-date=2 August 2018 \| archive-url=https://web.archive.org/web/20170212091304/http://dgcmagazine.com/peter-schiffs-euro-pac-bank-introduces-a-silver-backed-debit-card/ \| archive-date=February 12, 2017 \| url-status=live }}</ref> ===Investigation and lawsuit=== On June 30, 2022, the [[Puerto Rico Office of the Commissioner of Financial Institutions]] (OCIF) announced they had suspended the operations of Schiff's Puerto Rico-based Euro Pacific International Bank, which was suspected of having facilitated [[money laundering]] and [[tax evasion]]. The Commissioner stated that it had found numerous violations of its regulations and that the bank had "not wanted to comply". Regulators liquidated the bank, and Schiff paid $300,000 in fines.<ref>{{Cite news\|url=https://apnews.com/article/caribbean-money-laundering-puerto-rico-san-juan-efb421edca78f0d477c665d346658373\|title=Puerto Rico suspends operations of bank amid global probe\|newspaper=AP News\|date=June 30, 2022\|last1=Coto\|first1=Dánica\|access-date=December 22, 2023\|archive-date=December 22, 2023\|archive-url=https://web.archive.org/web/20231222175049/https://apnews.com/article/caribbean-money-laundering-puerto-rico-san-juan-efb421edca78f0d477c665d346658373\|url-status=live}}</ref><ref>{{Cite web \|last1=Nick \|first1=McKenzie \|last2=Charlotte \|first2=Grieve \|last3=Tozer \|first3=Joel \|date=2020-10-18 \|title=Westpac, mint, hundreds of Australians ensnared in global tax evasion probe \|url=https://www.theage.com.au/national/westpac-mint-hundreds-of-australians-ensnared-in-global-tax-evasion-probe-20201015-p565la.html \|access-date=2024-01-03 \|website=The Age \|language=en \|archive-date=December 6, 2023 \|archive-url=https://web.archive.org/web/20231206235440/https://www.theage.com.au/national/westpac-mint-hundreds-of-australians-ensnared-in-global-tax-evasion-probe-20201015-p565la.html \|url-status=live }}</ref><ref name="Robles-2022" /> ~~Peter~~ Schiff claimed that the OCIF actions were due to allegations made by [[~~60_Minutes_~~60 Minutes (~~Australian_TV_program~~Australian TV program)\|''60 Minutes Australia'']], and ''[[The Age]]'' newspaper, saying, "There was no way those allegations were true, but once those stories broke, the bank's business imploded"."<ref name="Robles-2022">{{Cite news \|last=Robles \|first=Frances \|date=9 August 2022 \|title=Peter Schiff Has a Deal With Puerto Rico to Liquidate His Euro Pacific Bank, He Says \|language=en-US \|website=[[The New York Times]] \|url=https://www.nytimes.com/2022/08/09/business/euro-pacific-peter-schiff.html \|url-status=live \|archive-url=https://web.archive.org/web/20231229032633/https://www.nytimes.com/2022/08/09/business/euro-pacific-peter-schiff.html \|archive-date=29 December 2023 \|access-date=4 October 2022}}</ref> In 2022 Schiff filed a civil action against the [[Nine Entertainment\|Nine Network]] and ''The Age'' newspaper for [[defamation]] over the ~~Australian~~ ''60 Minutes Australia'' interview and subsequent ''Age'' articles.<ref name="Goldstein-2023">{{Cite web \|last=Goldstein \|first=Matthew \|date=1 December 2023 \|title=Australian Media Company to Pay Peter Schiff to End Defamation Suit \|url=https://www.nytimes.com/2023/12/01/business/peter-schiff-defamation-settlement-nine.html \|url-status=live \|archive-url=https://web.archive.org/web/20231208120430/https://www.nytimes.com/2023/12/01/business/peter-schiff-defamation-settlement-nine.html \|archive-date=8 December 2023 \|access-date=8 December 2023 \|website=[[The New York Times]]}}</ref> Later in 2022, an Australian judge ruled that ''60 Minutes'' had defamed Schiff, but ''The Age'' had not.<ref name="Goldstein-2023" /> By December 2023, the civil action was settled.<ref name="Goldstein-2023" /> Schiff ~~stated that he lost millions of dollars due to the actions of the regulatory authorities. In a settlement of his defamation claim, he~~ was paid $360,000 ~~to settle the litigation~~, and the respondents removed all versions of the ''60 Minutes'' broadcast.<ref name="Goldstein-2023" /> Schiff has stated that he lost millions of dollars due to the investigation.<ref name="Goldstein-2023" /> ==Economic and public policy views== ===~~Financial~~2007–2008 ~~crisis~~financial ~~forecast~~crisis=== In an August 2006 interview, Schiff said, "The United States is like the ''[[Titanic]]'' 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."<ref>{{cite web \|url=http://www.europac.net/press_release/expansion_continues \|title=Expansion Continues – Euro Pacific Capital\|work=europac.net \|access-date=September 28, 2012 \|archive-url=https://web.archive.org/web/20111202210014/http://www.europac.net/press_release/expansion_continues \|archive-date=December 2, 2011 \|url-status=live}}</ref> On December 31, 2006, in a telecast debate on [[Fox News]], Schiff forecast that "what's going to happen in 2007 is that real estate prices," which had peaked in December 2005,<ref>{{Cite book\|last1=Reinhart\|first1=Carmen M.\|author-link1=Carmen Reinhart\|last2=Rogoff\|first2=Kenneth S.\|author-link2=Kenneth Rogoff\|year=2009\|title=This Time Is Different: Eight Centuries of Financial Folly\|location=New Jersey\|publisher=[[Princeton University Press]]\|isbn=978-0-691-14216-6\|page=[https://archive.org/details/thistimeisdiffer00rein_0/page/160 160 (see table 10.8)]\|url=https://archive.org/details/thistimeisdiffer00rein_0/page/160}}</ref> "are going to come crashing back down to Earth." Line 65 ⟶ 71: ===Bitcoin=== Schiff is a vocal [[Bitcoin]] sceptic. At times he has remarked that he sees Bitcoin as resembling the [[tulip mania]] bubble.<ref>{{Cite news\|author1=Alex Rosenberg\|title=Bitcoin is tulip mania 2.0 – not gold 2.0: Schiff\|url=https://www.cnbc.com/id2013/~~101192216~~11/12/peter-schiff-calls-bitcoin-bubble-tulip-mania-20.html\|access-date=December 12, 2014\|work=CNBC Futures Now\|publisher=CNBC LLC\|date=November 12, 2013\|archive-url=https://web.archive.org/web/20140902111626/https://www.cnbc.com/id/101192216\|archive-date=September 2, 2014\|url-status=live}}</ref> On January 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."<ref>{{Cite tweet\|title=I just lost all the #Bitcoin I have ever owned. 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!\|date=January 19, 2020\|user=peterschiff\|number=1218911797626847234\|last=Schiff\|first=Peter\|access-date=April 13, 2021}}</ref> 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?"<ref>{{Cite tweet\|title=Here's what happened: after debate in 2018, we went to dinner. Peter had never used bitcoin before (!) I helped him set up wallet on his phone (Edge or BRD?), told him to secure it if he ever held significant value on it, gave him $50. He forgot pw, and never recorded phrase.\|user=erikvoorhees\|number=1219046141028982784\|last=Voorhees\|first=Erik\|date=January 19, 2020\|access-date=April 13, 2021}}</ref><ref>{{Cite web\|date=2020-01-20\|title=Peter Schiff: Lost Bitcoin Password Claims are 'Fake News'\|url=https://www.financemagnates.com/cryptocurrency/news/peter-schiff-lost-bitcoin-password-claims-are-fake-news/\|access-date=2021-04-13\|website=Finance Magnates\|language=en\|archive-date=April 13, 2021\|archive-url=https://web.archive.org/web/20210413102149/https://www.financemagnates.com/cryptocurrency/news/peter-schiff-lost-bitcoin-password-claims-are-fake-news/\|url-status=live}}</ref> ===Responses=== Schiff's warnings of a coming [[economic collapse]] earned him the [[moniker]] "Dr. Doom",<ref name="O'Keefe-2009"/><ref>{{Cite AV media\|people=Peter Schiff\|date=February 20, 2009\|title=Peter Schiff was right 2006–2007 – CNBC edition\|url=https://www.youtube.com/watch?v=Z0YTY5TWtmU\|format=Flash\|medium=Television production (clip compilation)\|access-date=April 14, 2010\|archive-url=https://web.archive.org/web/20090827200225/http://www.youtube.com/watch?v=Z0YTY5TWtmU\|archive-date=August 27, 2009\|url-status=live}}</ref><ref>{{Cite AV media\|people=Peter Schiff\|date=November 2, 2008\|title=Peter Schiff Was Right 2006–2007 (2nd Edition)\|url=http://peterschiffchannel.blogspot.com/2011/02/peter-schiff-was-right-2006-2007-cnbc.html\|format=Flash\|medium=Television production (clip compilation)\|access-date=April 14, 2010\|archive-url=https://web.archive.org/web/20110708060317/http://peterschiffchannel.blogspot.com/2011/02/peter-schiff-was-right-2006-2007-cnbc.html\|archive-date=July 8, 2011\|url-status=live}}</ref> but later articles in ''[[Business Week]]'' and other business news journals reported that Schiff "more or less accurately" predicted the [[financial crisis of 2007–2010]] while the "easiest criticism of macroeconomists is that nearly all failed to foresee the recession despite plenty of warning signs."<ref>{{Cite web\|url=https://www.bloomberg.com/bw/stories/2009-04-15/what-good-are-economists-anyway\|title=What Good Are Economists Anyway?\|last=Coy\|first=Peter\|date=June 2009\|publisher=Bloomberg News\|access-date=April 22, 2010\|archive-url=https://web.archive.org/web/20150721202139/http://www.bloomberg.com/bw/stories/2009-04-15/what-good-are-economists-anyway\|archive-date=July 21, 2015\|url-status=live}}</ref> A [[YouTube]] fan video, "Peter Schiff was right," became popular in late 2008 and 2009.<ref>{{Cite news\|last=Task\|first=Aaron\|title='Crisis Only Just Beginning': Right About the Crash, Peter Schiff Sees More Pain Ahead\|newspaper=[[Yahoo! Finance]]\|date=November 24, 2008\|url=https://finance.yahoo.com/tech-ticker/article/134633/%27Crisis-Only-Just-Beginning%27-Right-About-the-Crash-Peter-Schiff-Sees-More-Pain-Ahead?tickers=^dji,^gspc,^ixic,SPY,DIA,QQQQ,GLD\|access-date=April 14, 2010\|archive-url=https://web.archive.org/web/20110428095723/http://finance.yahoo.com/tech-ticker/article/134633/%27Crisis-Only-Just-Beginning%27-Right-About-the-Crash-Peter-Schiff-Sees-More-Pain-Ahead?tickers=%5Edji,%5Egspc,%5Eixic,SPY,DIA,QQQQ,GLD\|archive-date=April 28, 2011\|url-status=live}}</ref><ref>{{Cite news\|last=Pressler\|first=Jessica\|title=Financial Pundit Peter Schiff Launches Senate Run\|newspaper=[[New York Magazine]]\|date=September 17, 2009\|url=https://nymag.com/daily/intel/2009/09/doomsdaying_economist_peter_sc.html\|access-date=April 16, 2010\|archive-url=https://web.archive.org/web/20090922195726/http://nymag.com/daily/intel/2009/09/doomsdaying_economist_peter_sc.html\|archive-date=September 22, 2009\|url-status=live}}</ref> 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]] 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."<ref>{{Cite web\|last=Shedlock\|first=Michael\|title=Peter Schiff Was Wrong\|date=January 25, 2009\|url=http://globaleconomicanalysis.blogspot.com/2009/01/peter-schiff-was-wrong.html\|access-date=May 21, 2010\|archive-url=https://web.archive.org/web/20100207120243/http://globaleconomicanalysis.blogspot.com/2009/01/peter-schiff-was-wrong.html\|archive-date=February 7, 2010\|url-status=live}}</ref> Later that week, an article appeared in ''[[The Wall Street Journal]]'' 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."<ref>{{Cite news\|last1=Patterson\|first1=Scott\|last2=Slater\|first2=Joanna\|last3=Karmin\|first3=Craig\|title=Right Forecast by Schiff, Wrong Plan?\|date=January 30, 2009\|work=[[The Wall Street Journal]]\|url=https://www.wsj.com/articles/SB123327685671031439\|url-access=subscription\|access-date=August 8, 2017\|archive-url=https://web.archive.org/web/20170827172840/https://www.wsj.com/articles/SB123327685671031439\|archive-date=August 27, 2017\|url-status=live}}</ref> 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."<ref>Shinkle, Kirk. [https://www.usnews.com/blogs/the-ticker/2009/01/30/peter-schiff-responds.html Peter Schiff Responds] {{Webarchive\|url=https://web.archive.org/web/20090506001950/http://www.usnews.com/blogs/the-ticker/2009/01/30/peter-schiff-responds.html \|date=May 6, 2009 }}, ''U.S. News'', January 30, 2009. Retrieved September 5, 2009.</ref><ref> {{Cite news\|last=Task\|first=Aaron\|title=Peter Schiff: Why I'm Right and My Critics Are All Wrong\|newspaper=[[Yahoo! Finance]] Tech Ticker\|date=February 6, 2009\|url=https://finance.yahoo.com/tech-ticker/article/169961/Peter-Schiff-Why-I%27m-Right-and-My-Critics-Are-All-Wrong?tickers=^dji,^gspc,QQQQ,SPY,DIA,SHV,UDN \|archive-url=https://web.archive.org/web/20090208114425/http://finance.yahoo.com/tech-ticker/article/169961/Peter-Schiff-Why-I'm-Right-and-My-Critics-Are-All-Wrong?tickers=%5Edji,%5Egspc,QQQQ,SPY,DIA,SHV,UDN\|archive-date=2009-02-08\|access-date=May 21, 2010\|url-status=dead}}</ref><ref>{{Cite news\|last=Schiff\|first=Peter\|title=Our Investing Plan Is Right, if Slightly Ahead of the Times\|newspaper=[[The Wall Street Journal]]\|date=February 10, 2009\|url=https://www.wsj.com/articles/SB123423701044366741\|archive-url=https://web.archive.org/web/20160805103414/http://www.wsj.com/articles/SB123423701044366741\|archive-date=August 5, 2016\|url-status=live}}</ref><ref>{{Cite news\|url=https://online.wsj.com/news/articles/SB123327685671031439?mod=googlenews_wsj&mg=reno64-wsj&url=http%3A%2F%2Fonline.wsj.com%2Farticle%2FSB123327685671031439.html%3Fmod%3Dgooglenews_wsj\|title=Right Forecast by Schiff, Wrong Plan?\|author=Scott Patterson, Joanna Slater and Craig Karmin\|publisher=[[The Wall Street Journal]]\|date=January 30, 2009}}</ref> 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 [[2007–2008 financial crisis]] and argued that his investment strategy had made strong returns over the long-run.<ref>{{cite web \|url=http://marketplayground.com/2012/12/11/peter-schiff-mish-shedlock-exposed/ \|title=Peter Schiff: Mish Shedlock Exposed \| Market Playground \|access-date=2012-12-17 \|url-status=dead \|archive-url=https://web.archive.org/web/20121216114434/http://marketplayground.com/2012/12/11/peter-schiff-mish-shedlock-exposed/ \|archive-date=December 16, 2012 \|df=mdy-all }}</ref> Schiff's views have been criticized several times by economist [[Paul Krugman]], who defines [[inflation]] 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?"<ref>{{Cite news\|url=https://krugman.blogs.nytimes.com/2010/10/04/math-models-and-mystification\|title=Math, Models, and Mystification\|author=Paul Krugman\|work=[[The New York Times]]\|date=October 4, 2010\|access-date=February 7, 2017\|archive-url=https://web.archive.org/web/20170927000246/https://krugman.blogs.nytimes.com/2010/10/04/math-models-and-mystification/\|archive-date=September 27, 2017\|url-status=live}}</ref> 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]], such as had just occurred, must lead to "dire effects on the price level."<ref>{{Cite news\|url=https://krugman.blogs.nytimes.com/2011/12/15/inflation-predictions/\|title=Inflation Predictions\|author=Paul Krugman\|author-link=Paul Krugman\|date=December 15, 2011\|work=The Conscience of a Liberal\|publisher=NYTimes.com\|access-date=April 21, 2012\|archive-url=https://web.archive.org/web/20120424145112/http://krugman.blogs.nytimes.com/2011/12/15/inflation-predictions/\|archive-date=April 24, 2012\|url-status=live}}</ref> Line 81 ⟶ 87: In January 2012, Schiff stated that a [[History of the United States debt ceiling\|US debt crisis]] and high consumer price inflation had been delayed merely by government policy.<ref>{{Cite web\|last=Blodget\|first=Henry\|title=Peter Schiff: The Debt-And-Inflation Crisis Is Taking Longer Than I Thought, But We're Still In Trouble\|url=https://finance.yahoo.com/blogs/daily-ticker/peter-schiff-debt-inflation-crisis-taking-longer-thought-170901661.html\|work=Daily Ticker\|date=January 3, 2012 \|publisher=Yahoo Finance\|access-date=September 26, 2012\|archive-url=https://web.archive.org/web/20120520000051/http://finance.yahoo.com/blogs/daily-ticker/peter-schiff-debt-inflation-crisis-taking-longer-thought-170901661.html\|archive-date=May 20, 2012\|url-status=live}}</ref> 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.<ref>{{Cite news\|url=https://krugman.blogs.nytimes.com/2012/11/29/varieties-of-error\|title=Varieties of Error\|author=Paul Krugman\|work=[[The New York Times]]\|date=November 29, 2012\|access-date=February 7, 2017\|archive-url=https://web.archive.org/web/20170912184922/https://krugman.blogs.nytimes.com/2012/11/29/varieties-of-error/\|archive-date=September 12, 2017\|url-status=live}}</ref><ref>{{Cite news\|url=https://krugman.blogs.nytimes.com/2014/11/22/the-wisdom-of-peter-schiff\|title=The Wisdom of Peter Schiff\|author=Paul Krugman\|work=[[The New York Times]]\|date=November 22, 2014\|access-date=February 7, 2017\|archive-url=https://web.archive.org/web/20170926191019/https://krugman.blogs.nytimes.com/2014/11/22/the-wisdom-of-peter-schiff/\|archive-date=September 26, 2017\|url-status=live}}</ref> 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.<ref>{{cite web\|url=http://www.europac.net/externalframeset.asp?from=home&id=14566\|title=The Reagan Counterrevolution – Euro Pacific Capital\|work=europac.net\|access-date=November 15, 2008\|archive-url=https://web.archive.org/web/20100512102612/http://www.europac.net/externalframeset.asp?from=home&id=14566\|archive-date=May 12, 2010\|url-status=dead}}</ref> He said that the [[~~late-2000s~~Great ~~financial crisis~~Recession]] 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.<ref>{{Cite episode\|title=5 November 2008\|url=http://www.europac.net/media/PeterSchiff_11-05-2008.mp3\|series=Wall Street Unspun\|airdate=2008-11-05}}{{Dead link\|date=July 2020 \|bot=InternetArchiveBot \|fix-attempted=yes }}</ref>{{Primary source inline\|date=September 2021}} 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.<ref>{{cite magazine\|last =Vinik\|first =Danny\|title =Inflation Paranoia Will Never Die, No Matter What the Evidence Says\|newspaper =[[The New Republic]]\|date =November 20, 2014\|url =https://newrepublic.com/article/120354/peter-schiff-my-inflation-prediction-was-correct-stats-are-lying\|access-date =June 23, 2015\|archive-url =https://web.archive.org/web/20150921213611/http://www.newrepublic.com/article/120354/peter-schiff-my-inflation-prediction-was-correct-stats-are-lying\|archive-date =September 21, 2015\|url-status =live}}</ref> Line 100 ⟶ 106: After giving some hints he would run on ''[[The Daily Show]]'',<ref>{{Cite news\|last=Cadei\|first=Emily\|title=Schiff Discusses Potential Dodd Challenge on Daily Show\|newspaper=[[Congressional Quarterly]]\|date=June 10, 2009\|url=http://blogs.cqpolitics.com/eyeon2010/2009/06/investor-and-financial-comment.html\|access-date=February 5, 2010\|url-status=dead\|archive-url=https://web.archive.org/web/20100420011050/http://blogs.cqpolitics.com/eyeon2010/2009/06/investor-and-financial-comment.html\|archive-date=April 20, 2010\|df=mdy-all}}</ref> Schiff officially announced his candidacy for the Republican nomination on September 17, 2009, during the [[MSNBC]] ''[[Morning Joe]]'' show.<ref>{{Cite AV media\|people=Peter Schiff, [[Joe Scarborough]] (host)\|date=September 17, 2009\|title=Peter Schiff formally announces his candidacy for U.S. Senate\|url=https://www.youtube.com/watch?v=usVyfMyitHc\|format=Flash\|medium=Television production\|publisher=[[MSNBC]]\|location=[[New York City]]\|archive-url=https://web.archive.org/web/20130814182142/http://www.youtube.com/watch?v=usVyfMyitHc\|archive-date=2013-08-14\|url-status=dead\|access-date=April 11, 2010}}</ref><ref>{{Cite AV media\|people=Peter Schiff\|date=September 17, 2009\|title=It's official, I'm in.\|url=https://www.youtube.com/watch?v=Lm4Ya-LRuu0\|format=Flash\|medium=Video blog\|publisher=SchiffReport\|access-date=September 20, 2009\|archive-url=https://web.archive.org/web/20101022164007/http://www.youtube.com//watch?v=Lm4Ya-LRuu0\|archive-date=October 22, 2010\|url-status=live}}</ref> By October 2009, Schiff had received more than 10,000 donations and many e-mails from around the world.<ref name="Ahran-2009"/> Schiff's campaign received endorsements from [[Ron Paul]] and [[Steve Forbes]].<ref>{{cite web\|url=http://www.ronpaul.com/2010-07-29/ron-paul-endorses-peter-schiff-and-rick-torres/\|title=Ron Paul Endorses Peter Schiff and Rick Torres\|work=ronpaul.com\|access-date=December 15, 2012\|archive-url=https://web.archive.org/web/20130731024833/http://www.ronpaul.com/2010-07-29/ron-paul-endorses-peter-schiff-and-rick-torres/\|archive-date=July 31, 2013\|url-status=live}}</ref><ref>{{cite web\|url=http://blogs.courant.com/capitol_watch/2010/07/peter-schiff-snags-a-bigname-e.html\|title=Peter Schiff snags a big-name endorsement\|work=courant.com\|access-date=July 31, 2010\|archive-url=https://archive.today/20120708075021/http://blogs.courant.com/capitol_watch/2010/07/peter-schiff-snags-a-bigname-e.html\|archive-date=July 8, 2012\|url-status=dead}}</ref> At the May 2010 Republican convention, [[Linda McMahon]] received the most delegate votes but not enough to prevent an August [[Partisan primary\|primary election]] challenge from [[Rob Simmons]]. Schiff failed to qualify for the primary at the convention but became the only Republican candidate to successfully petition to be placed on the ballot.<ref>{{cite web\|title=Lauretti to petition, potentially forcing 7-way GOP primary\|date=May 13, 2018\|url=https://ctmirror.org/2018/05/13/lauretti-petition-potentially-forcing-7-way-gop-primary/\|publisher=The CT Mirror\|access-date=13 May 2018\|archive-url=https://web.archive.org/web/20180513202505/https://ctmirror.org/2018/05/13/lauretti-petition-potentially-forcing-7-way-gop-primary/\|archive-date=May 13, 2018\|url-status=live}}</ref> 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.<ref>{{Cite web\|url=http://www.ctpost.com/news/article/McMahon-sweeps-to-victory-in-GOP-Senate-race-610694.php\|title=McMahon sweeps to victory in GOP Senate race\|author=Neil Vigdor and Brian Lockhart\|publisher=[[Connecticut Post]]\|date=August 11, 2010\|access-date=August 11, 2010\|archive-url=https://web.archive.org/web/20100817041113/http://www.ctpost.com/news/article/McMahon-sweeps-to-victory-in-GOP-Senate-race-610694.php\|archive-date=August 17, 2010\|url-status=live}}</ref> The general election was won by the [[Democratic Party (US)\|Democratic Party]] primary winner, [[Richard Blumenthal]].<ref>{{Cite news\|url=https://www.washingtonpost.com/wp-dyn/content/video/2010/11/02/VI2010110208394.html\|newspaper=The Washington Post\|title=Democrat Blumenthal wins Conn. Senate seat\|date=November 3, 2010\|access-date=September 8, 2017\|archive-url=https://web.archive.org/web/20180919140222/http://www.washingtonpost.com/wp-dyn/content/video/2010/11/02/VI2010110208394.html\|archive-date=September 19, 2018\|url-status=live}}</ref> Line 113 ⟶ 119: [[File:Peter Schiff by Gage Skidmore 2.jpg\|right\|thumb\|Schiff broadcasting his radio show from Washington, D.C. in March 2013]] Prior to the [[2007–2008 financial crisis]], Schiff frequently appeared on CNBC, Fox News and [[Bloomberg News\|Bloomberg]] 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.<ref>{{Cite news\|url=http://content.time.com/time/magazine/article/0,9171,1900233,00.html\|title=Why We Should Listen to Peter Schiff's Bad News\|author=Justin Fox\|publisher=[[Time (magazine)\|Time]]\|date=June 1, 2009\|access-date=December 1, 2014\|archive-url=https://web.archive.org/web/20141221184712/http://content.time.com/time/magazine/article/0,9171,1900233,00.html\|archive-date=December 21, 2014\|url-status=live}}</ref> In August 2012, Schiff replaced [[G. Gordon Liddy]] in the 10 a.m.–12 p.m. time slot on the [[Radio America (United States)\|Radio America]] network Internet broadcast.<ref>http://rbr.com/g-gordon-liddy-retiring-peter-schiff-replacing/ {{Webarchive\|url=https://web.archive.org/web/20120811144231/http://rbr.com/g-gordon-liddy-retiring-peter-schiff-replacing/ \|date=August 11, 2012 }} Radio America press release</ref> Line 119 ⟶ 125: ===Webcast=== Schiff is also a video blogger in the internet and distributes his media through [[YouTube]],<ref>{{cite web\|last1=Schiff\|first1=Peter\|title=SchiffReport\|url=https://www.youtube.com/user/SchiffReport\|website=Youtube\|access-date=4 September 2016\|archive-url=https://web.archive.org/web/20150719145439/https://www.youtube.com/user/SchiffReport\|archive-date=July 19, 2015\|url-status=live}}</ref> Euro Pacific Capital,<ref>{{cite web\|title=Multimedia\|last1=Schiff\|first1=Peter\|url=http://www.europac.com/media\|website=Euro Pacific Capital\|access-date=4 September 2016\|archive-url=https://web.archive.org/web/20150717051149/http://www.europac.com/media\|archive-date=July 17, 2015\|url-status=live}}</ref> and [[iTunes]]. He has appeared four<ref>{{Cite web\|title=Joe Rogan Experience #1508\|author=Peter Schiff\|url=https://www.youtube.com/watch?v=OK2zgeJLVwU\|website=Youtube\|date=July 15, 2020 \|access-date=July 15, 2020\|archive-date=July 17, 2020\|archive-url=https://web.archive.org/web/20200717005400/https://www.youtube.com/watch?v=OK2zgeJLVwU\|url-status=live}}</ref> times as a guest on [[Joe Rogan\|Joe Rogan's]] YouTube series and podcast.<ref>{{cite web\|url=https://www.youtube.com/watch?v=by1OgqQQANg&t=8055s\|title=Joe Rogan Experience #1002\|author=Peter Schiff\|date=August 23, 2017\|via=PowerfulJRE – YouTube\|access-date=August 26, 2017\|archive-date=September 29, 2023\|archive-url=https://web.archive.org/web/20230929044238/https://www.youtube.com/watch?v=by1OgqQQANg&t=8055s\|url-status=live}}</ref> ===Television=== Schiff has been a commentator on [[CNBC]] and [[Fox Business]].<ref>{{cite web\|url=https://www.cnbc.com/id2015/~~102512859~~03/17/forget-patience-qe4-is-coming-peter-schiff.html\|title=Forget patience, QE4 is coming: Peter Schiff\|first=Amanda\|last=Diaz\|website=[[CNBC]]\|date=March 17, 2015\|access-date=September 10, 2017\|archive-url=https://web.archive.org/web/20150630222123/https://www.cnbc.com/id/102512859\|archive-date=June 30, 2015\|url-status=live}}</ref> ==Books== Line 173 ⟶ 179: [[Category:American libertarians]] [[Category:American male bloggers]] [[Category:American bloggers]]▼ [[Category:American male non-fiction writers]] [[Category:American money managers]] [[Category:American people of Polish-Jewish descent]] ~~[[Category:American podcasters]]~~ [[Category:American political commentators]] [[Category:American political philosophers]] Line 194 ⟶ 198: [[Category:Jewish American bankers]] [[Category:Jewish American entertainers]] [[Category:Jewish American non-fiction writers]] ▲[[Category:~~American~~Jewish bloggers]] [[Category:Libertarian economists]] [[Category:Libertarian theorists]]