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'''Peter David Schiff''' ({{IPAc-en|ʃ|ɪ|f}}; born March 23, 1963; nicknamed "Dr. Doom")<ref>{{cite web |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=[[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=The Man Who Predicted The Economic Meltdown |date=2008-12-04 |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 the [[2008 crash|2008 financial crisis]]. <ref>{{Cite web |last=Folkenflik |first=David |date=December 4, 2008 |title=The Man Who Predicted The Economic Meltdown |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="The American Conservative-2015">[http://www.theamericanconservative.com/articles/dr-doom-runs-for-senate The American Conservative: "Dr. Doom Runs for Senate" By Michael Brendan Dougherty] {{Webarchive|url=https://web.archive.org/web/20150402105738/http://www.theamericanconservative.com/articles/dr-doom-runs-for-senate/ |date=April 2, 2015 }} 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-2015" /> 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
==Business career==
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]], [[Newport Beach]], [[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 now renamed as 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>
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===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_(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 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" />
==Economic and public policy views==
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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/id/101192216|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===
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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>
When the Fed ended the [[quantitative easing]] 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.<ref>{{cite news|last =Schiff|first =Peter|title =CNBC Futures Now|date =Jul 16, 2015|url =https://www.youtube.com/watch?v=Q_bghdJx87A/|access-date =February 27, 2016|archive-date =September 29, 2023|archive-url =https://web.archive.org/web/20230929044235/https://www.youtube.com/watch?v=Q_bghdJx87A/|url-status =live}}</ref>{{Primary source inline|date=September 2021}}
==Political career==
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===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
===Television===
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