![]() In his 2007 book Crash Proof, Schiff wrote that US economic policies were fundamentally unsound. I see a real financial crisis coming for the United States." On December 31, 2006, in a telecast debate on Fox News, Schiff forecast that "what's going to happen in 2007 is that real estate prices," which had peaked in December 2005, "are going to come crashing back down to Earth." ![]() In an August 2006 interview, Schiff said, "The United States is like the Titanic and I am here with the lifeboat trying to get people to leave the ship. Economic and public policy views Financial crisis forecast ![]() In a settlement of his defamation claim, he was paid $360,000 to settle the litigation, and the respondents removed all versions of the broadcast. Schiff stated that he lost millions of dollars due to the actions of the regulatory authorities. On November 21 the civil action was settled. In 2022 Schiff filed a civil action against the Nine Network and The Age newspaper for defamation over the Australian 60 Minutes interview and subsequent Age articles. Peter Schiff claimed that the OCIF actions were due to allegations made by 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". Regulators liquidated the bank, and Schiff paid $300,000 in fines. The Commissioner stated that it had found numerous violations of its regulations and that the bank had "not wanted to comply". 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. Schiff founded Euro Pacific Bank, a full reserve banking operation originally in St. ![]() Schiff sold Euro Pacific Capital and now renamed as Alliance Global Partners. They relocated the firm to Darien, Connecticut, in 2005, 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. In 1996, Schiff and a partner acquired an inactive brokerage firm and renamed it Euro Pacific Capital, and began operating it from a small office in Los Angeles. Schiff began his career as a stockbroker at a Shearson Lehman Brothers brokerage in the early 1990s. On October 20, 2015, four days after the death of his father, Schiff accused the Federal Bureau of Prisons of inhumanely treating his father and not allowing the usual humanitarian release. Schiff commented, "The problem with my father is that he's not practical. 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". 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 died in federal prison in October 2015 while he was serving a sentence of at least 13 years for tax evasion. Irwin Schiff was a prominent figure in the US tax protester movement. Peter Schiff credits his father for introducing him to the Austrian School of economic thought. 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. ![]() His father, Irwin Schiff, who was the son of Jewish immigrants from Poland, served in the US Army during World War II. Schiff was born to a middle-class Jewish family in New Haven, Connecticut. He is involved in other financial services companies including Euro Pacific Asset Management, as an independent investment advisor, and Schiff Gold (formerly Euro Pacific Precious Metals). He co-founded Echelon Wealth Partners in Canada (formerly Euro Pacific Canada). Doom") is an American stockbroker, financial commentator, and radio personality. Peter David Schiff ( / ʃ ɪ f/ born Manicknamed "Dr. Stock broker, financial commentator, radio personality, author ![]()
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