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" You don't help the economy by spending money. "
Peter Schiff
You
Spending
Economy
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" 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. "
Peter Schiff
Value
Gold
People
" Remember 'The Brady Bunch' TV show? That 1970s family had a full-time live-in housekeeper called Alice. Mrs. Brady worked at the PTA and did community work. She didn't clean her own house. That was middle class. Now you have to be very rich to employ a housekeeper. Everything it meant to be middle class has changed dramatically. "
Peter Schiff
Remember
Family
Work
" Greed is normally balanced by fear. "
Peter Schiff
Normally
Balanced
Fear
" My mother always taught me that two wrongs don't make a right. We shouldn't bail out Wall Street. We shouldn't bail out Detroit. It will cost the economy more than the cost of the bailout which is more than the politicians think. We'll run into the hundred of millions to prop these companies up. "
Peter Schiff
Always
Think
Me
" 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. "
Peter Schiff
Nature
Me
Recovery
" 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. "
Peter Schiff
Through
Rise
Inflation
" I would say to people of a libertarian conservative position on an issue, do not do a taped interview. You're going to come out looking really bad. No matter what you say, no matter how eloquently you answer a question, your answer is not going to be what you said. "
Peter Schiff
You
Looking
Bad
" 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. "
Peter Schiff
People
World
Government
" 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. "
Peter Schiff
Money
Free
Government
" Wall Street is in trouble because Main Street is broke. "
Peter Schiff
Because
Trouble
Street
" Every time the market has corrected, since 2008, it's always been the Fed that's made the bottom. The Fed has always saved the market either by cutting rates, launching QE, or threatening to launch another round of QE. "
Peter Schiff
Market
Bottom
Always
" 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. "
Peter Schiff
Value
Problem
Food
" 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. "
Peter Schiff
Value
Doing
Currency
" We had a very upwardly mobile economy, and that peaked around the 1950s when the typical middle-class American family consisted of a father with a job and stay-at-home mom who took care of the kids. "
Peter Schiff
Mom
Care
Family
" What got us out of the depression was capitalism, and we would have gotten out a lot quicker had the government not intervened. "
Peter Schiff
Us
Government
Capitalism
" 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. "
Peter Schiff
Nostalgia
People
Day
" The middle class today would be poor by the standards of the 1950s. Today, with two people working, they would still live paycheck to paycheck. "
Peter Schiff
Live
Poor
Class
" At some point, the dollar has to give. You can't just keep printing money, and monetizing debt, and buying bonds, without the dollar imploding. "
Peter Schiff
Dollar
Keep
Money
" When Trump was a candidate, he talked about the stock market, because, oh, the stock market was going up when Obama was president. "
Peter Schiff
Stock Market
Because
President
" To get great again, we need to recreate what made us great in the first place, and so we're going to have to let interest rates go up. "
Peter Schiff
Great
Place
Go
" Gold has worked for thousands of years, but now with the Internet, it works even better. "
Peter Schiff
Internet
Better
Years
" In a free market, businesses compete for customers by keeping prices down and for labor by keeping wages up. "
Peter Schiff
Wages
Labor
Free Market
" The Fed is the biggest enemy of this economy. In fact, Ben Bernanke, as far as I'm concerned, he's public enemy No. 1. We're never going to have a recovery while this guy's in charge. "
Peter Schiff
Economy
Enemy
Going
" I don't want the technology of the 1950s, but I want the free market of the 1950s. "
Peter Schiff
Want
Free Market
Technology
" 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. "
Peter Schiff
Power
Money
Government
" The only thing I can do with my bitcoin is give it to somebody else. "
Peter Schiff
Bitcoin
I Can
Only
" The market needs to set prices, including interest rates and allocate resources. If it were up to me, we would abolish the Fed and return to the gold standard. Absent that, the Fed should be completely removed from the political sphere, its dual mandate replaced by a single mission to provide the nation with sound money. "
Peter Schiff
Gold
Me
Political
" The one place that bitcoins seem to be used as money is in crime. "
Peter Schiff
Place
Money
Crime
" Wal-Mart creates entry level jobs for people who don't have a lot of skills; those jobs don't pay a lot. "
Peter Schiff
Skills
Wal-Mart
People
" 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. "
Peter Schiff
Us
Think
True