Day Nine of the Jack News Guide to the Libertarian Party Presidential Race in 2020.
Editor’s Note: The introduction to this series includes links to each of the nine profiles.
Peter Schiff is best known as a radio show host, focusing on economics, and as the multi-millionaire CEO of the investment firm EuroPacific Capital. If he were to seek the Libertarian Party’s presidential nomination in 2020, his wealth would bring him considerable advantages in self-funding his campaign.
Schiff’s father, a famous tax resister, sought the party’s presidential nomination in 1996, before he was later convicted of tax evasion and spent his final years in prison.
The younger Schiff doesn’t emulate or advocate his father’s conspiratorial arguments against tax compliance. But he does embrace hardline “Austrian School” economics that is commonplace in the classical liberal movement.
Like many libertarians, Schiff is also a devoted goldbug, or an advocate of the gold standard. He has built much of his reputation for predicting the causes of the housing bubble that crashed in 2007, and led to the great recession.
But while pessimistic on real estate, the U.S. economy and the U.S. dollar, he has also held bullish views on long-term investments in commodities, precious metals, and foreign stocks and currencies in countries with sound fiscal and monetary policies.
Schiff has also been associated with the Ron Paul presidential campaigns, serving as the Texas Congressman’s economic policy adviser in 2008 and 2012. Though not formally affiliated, he also has longstanding connections to the circle of Paul advisers and ex-staffers centered around the Ludwig von Mises Institute in Auburn, Alabama.
In 2010, Schiff launched an unsuccessful bid for the Republican U.S. Senate nomination in Connecticut. He attracted attention and support from Paul’s national base in the same year that Paul’s son Rand went on to win a U.S. Senate seat in Kentucky. Schiff took third in the primary with 23 percent of the vote. GOP nominee Linda MacMahon went on to lose the general election to Democrat Richard Blumenthal.
Schiff’s principal broker-dealer business is based in Westport, Connecticut, and he also runs Euro Pacific Canada Inc., in Toronto, Euro Pacific Bank Ltd., an offshore bank based in St. Vincent and the Grenadines, and Euro Pacific Asset Management LLC, founded in Newport Beach, California, and relocated in 2013 to San Juan, Puerto Rico. His SchiffGold precious metals dealership is based in Manhattan.
Schiff has toyed with the idea of seeking the Libertarian presidential nomination in 2016, but ultimately decided against it. Will he see 2020 as his chance to make a go for it?
(Photo of Peter Schiff speaking at FreedomFest 2016 by Gage Skidmore used with permission.)