Wednesday, November 02, 2011
Peter Schiff Speaks for 1 Percent at Occupy Wall Street
Schiff is no ordinary observer. As the prinicipal of the financial firm Euro Pacific Capital, he's a full-fledged and unapologetic member of "the 1 Percent." As an outspoken radio show host and commentator, he not only predicted the housing crash and financial crisis, he railed bank and auto-sector bailouts as they were happening. Schiff believes that capitalism offers is the only hope for young, frustrated people to have a vibrant and prosperous future. So he went to Occupy Wall Street to engage and debate the protesters.
Touring the Occupy Wall Street scene in New York with a sign that read "I Am the 1%, Let's Talk," Schiff spent more than three hours on the scene, explaining the difference between cronyism and capitalism, bailouts and balance sheets, and more.
"The regulation we want is the market," said Schiff. "That's what works."
Posted by Blog Moderator at Wednesday, November 02, 2011