Peter Schiff on Politics, Precious Metals and President Obama’s Second Term

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by Anthony Wile, The Daily Bell:

Daily Bell: Peter, thanks for sitting down again with us again. Please introduce yourself and your firm for those who don’t know you.

Peter Schiff: My name is Peter Schiff. I have several companies; the largest one is Euro Pacific Capital and also in the US I have Euro Pacific Precious Metals.

Daily Bell: Talk about your father, who is now in jail as a tax protestor. How is he doing?

Peter Schiff: He’s hanging in there. He’s 84. He turns 85 next month. I think he’s a political prisoner. He’s in jail not because he really violated the law but because he represented a threat to the government’s illegal collection of income taxes. So I think it’s very unfortunate that my father is in jail and I think it says a lot about the character of our country when we can have a political prisoner.

Daily Bell: You ran for office, but it didn’t work out. Are you finished with politics? What do you think of the political system?

Peter Schiff: I ran for office once. I was in the primary for the US Senate. I ran in a pretty blue state, Connecticut, so even if I had won the primary it would have been a difficult challenge to win the general election. The person who beat me, Linda McMahon, lost. In fact, she lost twice. She spent about $100 million and still couldn’t win the election.

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