Source: Ludwig von Mises Institute
by George Ford Smith
“‘Wall Street got drunk,’ President Bush said in 2008, to which Peter Schiff replied, ‘They did. And the Fed provided the liquor!’ Schiff — who credits his understanding of markets and Austrian economics to his father’s teachings growing up — is renowned for his prediction of the Financial Crisis of 2008, years before the housing market nosedived. His position earned him the scorn and ridicule of almost every other commentator, as seen in this collection of videos, but he never blinked. The market was in trouble, not because of a lack of regulations, but because the government and the Fed were on a fiat money high.” (04/21/25)