Biography

“Unfortunately the situation in New Orleans is a microcosm of our nation as a whole. Although our reliance on foreign savings and production are widely known, and most economists accept the fact that
a real economic disaster would ensue should foreigners discontinue such subsidies, dump their hoards of U.S. treasuries, and refuse to exchange real goods for paper dollars. However, rather than perusing policies to rebalance our economy, we simply do nothing, and hope that day of reckoning never arrives. However, just as that strategy backfired in New Orleans, so, too, will it for America as a whole.”

- Peter Schiff

peter schiff is not only a bestselling author; he’s a powerful voice in the economy today. When his so-called predictions about America’s ecomomy became a reality, more and more people started to listen as was his rise to prominence. Schiff is the president of Euro Pacific Capital Inc. a brokerage firm based in Connecticut.

Early Life
Born in New Haven, Connecticut but was raised in Manhattan and Miami, Peter Schiff’s father Irwin Schiff was a famous tax protester. Schiff graduated with a degree in accounting in the University of California, Berkeley. He then worked for Shearson Lehman Brothers which was a financial consulting firm.

Notability
His firm Euro Pacific Capital Inc. started when he bought a bankrupt broker-dealer in Florida, he was able to not only grow the business but make it big enough to have offices in various states. The company is a major promoter of Schiff’s views on America’s economy. It highly recommends investment strategies that involve stocks and precious metals.
His predictions of the fall in the real estate industry on Fox News in December of 2006 caused many more debates. He said that real estate prices will come crashing down and that the lack of lending standards will result in housing crises. The following year he said that this issue will extend to the credit card industry, that more and more Americans will be in debt.
On a lighter note, he did say that there will be those who can benefit from the crisis. This is further discussed in his book, Crash Proof: How to Profit From the Coming Economic Collapse, where he backed this idea up with strong arguments.