Printing money is merely taxation in another form. Peter Schiff More Quotes by Peter Schiff More Quotes From Peter Schiff Often President Obama's worst critics are Senator Obama and candidate Obama. Peter Schiff worst critics president The Philadelphia Feds manufacturers report for September revealed that despite a sharp slowdown, its prices paid index surged 257 points. Peter Schiff feds philadelphia september There is simply no way to sustain an economy based on consumer credit. Peter Schiff economy credit way The primary factor that enables our government to peddle economic snake oil is the dollar's unique role as the world's reserve currency, and our creditors' willingness to preserve its status. By buying up dollars and loaning them back to us through Treasury debt, productive countries give American politicians cart blanche to play Santa Claus. Peter Schiff unique play country We share management's vision that the recent regulatory changes, the large presence of Sprint Nextel in the 2.5 GHz band, and the near-term implementation of 4G systems make Oneida the right company in the right place at the right time. Peter Schiff band vision management All those commodities are going to have to rise in value as we are in short supply and we are printing too much money. Peter Schiff printing commodity too-much Once the government runs out of foreign and private sector bidders for new Treasurys, the Federal Reserve will be the only buyer, and the hyper-inflation cat will be completely out of the bag. Peter Schiff cat government running Once the dollar begins to collapse beneath the weight of all this new deficit spending, accumulation of contingency liabilities and the socialization of our economy, commodity prices and interest rates will head skyward. Peter Schiff commodity-prices dollars weight I think there are a lot of people out there that are speculating in the stock market. They have all kinds of tech stocks or social media stocks. If you want to gamble in the stock market, I would much rather gamble on a mining stock than a social media stock. Peter Schiff social-media people thinking Yes, when they're buying there are more buyers in the market and that's supportive of the price. The more buyers you have, the firmer the price is going to be. When central banks were selling it was a headwind the market had to overcome. Now it's a tailwind that central banks are joining the buyers. Peter Schiff selling supportive overcoming Central banks are choosing to increase their gold holdings as a percentage of total reserves. They obviously think there is a reason to do that. It doesn't make sense to back up one currency with a hoard of other paper currencies. There needs to be a real anchor there. I think that central banks are well behind the curve. If you look at the percentage of above-ground gold controlled by central banks, it's historically low. Hence the fact that central banks are trying to increase their holdings. They've got a long way to go to get where they need to be. Peter Schiff real long thinking Of course if you happen to time the market really well, you can make more money with some of these smaller companies, but for someone with no exposure I wouldn't want to take the risk that they timed it wrong. Peter Schiff risk The fiat-based system has produced enormous global imbalances that are straining the global economy. Ultimately, I think the whole thing gives way and what returns is what existed prior to the dollar standard, and that is a global gold standard, which is the only thing that really works. Peter Schiff gold giving thinking Miners produce the bullion. If there is going to be more demand for gold from investors and central banks, where is the gold going to come from? They have to dig it out of the ground and sell it. As the price of gold goes higher, their profit margins increase. So if you are very bullish like I am and think there is going to be a big increase in gold, it's a huge opportunity for miners. Peter Schiff gold opportunity thinking We are an indebted family going out for an expensive meal to celebrate getting approved foe a new credit card. It might feel good (at the time), but we're still simply delaying the inevitable. Peter Schiff going-out feel-good meals 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 today people 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 need place great go 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 job family mom father 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. Peter Schiff nation some investment finance In a free market, businesses compete for customers by keeping prices down and for labor by keeping wages up. Peter Schiff market down free labor