| Peter Schiff: CEO of Euro Pacific Capital: Testimony before Congressional Committee of Oversight & Reform's Sub-Committee on Regulatory Affairs & Fiscal Oversight [Precisely Edited] [HD] [9/13/11] Precisely edited to capture all of Peter Schiff's comments, arguments, and discussions. Peter David Schiff is an American investment broker, author, and financial commentator. President and chief global strategist of Euro Pacific Capital Inc., a broker-dealer based in Westport, Connecticut; Schiff supports the Austrian business cycle theory, a theory which proposes that market regulatory and monetary manipulation is a fundamental tool for the misappropriation of investment capital. He is known for his bearish views on the dollar and dollar denominated assets, while bullish on investment in tangible assets, as well as foreign stocks and currencies. www.europac.net www.schiffradio.com "You see, the only way a society can really increase it's future consumption is to save, and by definition saving is under-consumption, it is a lack of consumption, it represents self sacrifice. When you save and reduce your consumption today, you have money that you can invest, compound interest, and returns; ultimately you can enjoy enhanced future consumption. In America, we have indulged ourselves in the present at the expense of the future." - Peter D. Schiff 2006 |
