Episode Number: 1002
Episode Guest: Peter Schiff
Original Airdate: August 23, 2017
Episode Sponsors: Onnit, LegalZoom, MVMT Watches
Guest Bio: Peter Schiff is an American businessman, investment broker, author, and financial commentator. Schiff is CEO and chief global strategist of Euro Pacific Capital Inc. He also hosts his own podcast called The Peter Schiff Podcast available on Apple Podcasts and at SchiffRadio.com.
Topics Discussed: He’s living in Puerto Rico; the tax situation in Puerto Rico; Puerto Rico wants to be a US state; poverty in Puerto Rico; moving his business to Puerto Rico; he lives in a gated community; more talk about Puerto Rico and taxes; debt in Puerto Rico; minimum wage in Puerto Rico; American Samoa and minimum wage; Jones-Shafroth Act; Peter thinks there should be no minimum wage; the problem with minimum wage; more minimum wage talk; gas station attendants; if you only make minimum wage, you shouldn’t have a family; Singapore has no minimum wage; if you want to earn more, you have to produce more; getting paid more for your looks; life isn’t fair; make the most of what you have; competition is seen as a negative thing today; socialism; competition is good; Peter at Occupy Wall Street video; Peter predicted the 2008 financial crisis; the real enemy is the government; the things that are good economics are bad politics; American health care; health insurance compared to car insurance; why Obamacare didn’t work; fire insurance compared to health care; (1:00:00) more health insurance talk; health care should be cheaper, but it isn’t due to government involvement; more Obamacare talk; Peter talks about his very first cell phone plan; the problems with socialism; only young people should think socialism can work; Bernie Sanders talk; we need to take away the influence of politicians; you don’t have to get rich by taking from other people; the government isn’t there to give you things; private charity; Peter was against the government bailouts of the banks; Peter Schiff was right video; more talk about the bailouts; politicians don’t look beyond the next election; the cost of living is skyrocketing; we are headed for another recession; he thinks the dollar will fall; interest rates; US national debt clock; the hypocracy of Trump; the irony of Obamacare; replacing of full-time jobs with more part-time jobs; the president tries to spin our economy as if it’s strong; Trump is a salesman; Peter talks about meeting Trump; Peter voted for Trump; he can’t vote now because he lives in Puerto Rico; he would have voted for Gary Johnson; what Trump’s strategy is; we need a smaller government; talk about Trump and repealing Obamacare; more health insurance talk; Peter says charities are for people with cancer who don’t have insurance; doctors can’t afford to help people for free; Peter talks about a guy who sued Starbucks because he was hard of hearing; discrimination against strippers in wheelchairs; businesses accommodating everyone with disabilities; Peter rants about handicap parking spaces; anti-discrimination laws; Ellen Pao on sexism in Silicon Valley; employers don’t want lawsuits so they hire the people who are least likely to sue them; the taking down of statues; Wesley Norris on Robert E. Lee; Robert E. Lee and slave owners in the past; Civil War monuments; Civil Rights Act of 1964; (2:00:00) more talk about Civil Rights; employment is about discrimination; discrimination vs. racism; black people and women are more likely to sue an employer due to wrongful termination; he thinks racial discrimination should be allowed and let the market punish the racists; talk about the Google memo; you’re allowed to express your opinion as long as it’s politically correct; why do we have to pretend men and women are equal; women in MMA; you don’t have a right to not be offended; if there are more men or women in certain occupations, it’s not because of discrimination; gender pay gap myth; laws backfire and actually hurt women; liberals aren’t bad, they’re misinformed; free market capitalism will raise the standard for everyone; the government doesn’t care about you or your kids; nothing that the government provides is free; colleges are expensive because the government subsidies the cost; student debt; is a college degree worth the cost video; degrees mean nothing and are worthless; self-education; talk about Bitcoin and cryptocurrencies; Peter on Bitcoin compared to Pets.com; why gold became money; Bitcoin was thought to be a digital alternative to gold; Peter thinks no cryptocurrency will survive and be successful; Peter talks about Goldmoney.com as an alternative to Bitcoin; Peter has a Mastercard made of solid gold; Peter thinks we will go back to a gold standard; Peter talks more about Goldmoney.com and buying things with his Mastercard and paying in gold; gold works because it has value in every country; Peter compares Bitcoin and cryptocurrencies to modern-day alchemy; talk about the history of paper money; people need to reject money and work with gold; people aren’t thinking rationally about Bitcoin and cryptocurrencies, they’re blinded by greed; a lot of people will lose money on Bitcoin; the only way money will be made on Bitcoin is by cashing out; Bitcoin is being used by criminals and could be cracked down on by the government; more Goldmoney.com talk; gold is economic freedom; Peter would have been all over Bitcoin if he thought it would work; gold will take back our freedom; his gold credit card is worth its weight in gold and could be melted down if needed.
Podcast Video: Below is a video of The Joe Rogan Experience podcast episode #1002 available for streaming via YouTube.
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