Peter Schiff was born in 1963 in New Haven, CT. This city is the home of Yale University, though it is not where he would study in the end. Instead, he attended the Haas School of Business of UC Berkeley in California, studying Economics, Business, Investing, and Personal Finance while earning his B.S.
By the 1990s, Peter Schiff joined Shearson Lehman Brothers as a stockbroker. It went well for him; so well that he would buy a dormant brokerage firm with a partner in 1996. They renamed it to Euro Pacific Capital and operated it out of Los Angeles until they moved it to Connecticut in 2005. On top of that, there is also a Euro Pacific Bank which operates out of Puerto Rico as of 2017. He founded Euro Pacific Canada Inc as well, which is now known as Echelon Wealth Partners Inc. The name Euro Pacific is a reference to its focus on investing abroad.
Aside from being a prolific figure in business, Peter Schiff also has made his way in other industries. He has shown himself to be an accomplished author, publishing 6 books. They range through various topics on the market. Perhaps his most impressive work was his February 2007 book: Crash Proof: How to Profit From the Coming Economic Collapse. Impressive that Schiff managed to write and publish a book forecasting the subprime collapse in February. In September 2007, Lehman Brothers collapsed, proving Schiff’s forecast to be quite accurate. All of his books have enjoyed success, spending time on bestseller lists.
The Peter Schiff Show
Writing is not the only way Peter has used to broadcast his ideas. His radio show Wall Street Unspun aired weekly from 2005 to 2010. This led to another show titled The Peter Schiff Show from 2010 to 2014. Currently, he releases similar content in podcast form, as The Peter Schiff Show. It has over 500 Episodes and counting. Add to this his appearances on TV as a commentator for both CNBC and Fox Business, and you can see Peter does it all. He has even testified in front of Congress twice!
Peter Schiff is also no stranger to being controversial. He has suggested radical changes to the government, such as abolishing a minimum wage and taxes only on goods. His father Irwin Schiff sadly passed away in prison after becoming famous in the “tax protestor” movement, declaring income tax to be illegal and unconstitutional. This libertarian bend was certainly passed down to Peter, who has himself been active politically. This includes being the economic advisor to Ron Paul in his 2008 presidential campaign and took a 2010 shot at joining the Senate. He received 23% of the votes in his race.
One of his most recent predictions was that The Federal Reserve would slash rates drastically, which came to pass very recently. However, how much that was due to the COVID19 pandemic compared to past economic decisions is a bit harder to tell. Peter would likely tell you that policies such as Quantitative Easing are the bigger culprits.
His many talents and ability to apply himself has risen Peter Schiff’s Net Worth into the neighborhood of $70 million. Knowing Peter, it will only continue to grow.