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Market Oracle FREE Newsletter


Peter Schiff Call to Action to Win U.S. Senate Seat

Politics / US Politics Oct 09, 2009 - 06:04 PM GMT

By: Peter_Schiff


Dear Friends,

Through my weekly commentaries, I have always tried to share my honest insight into the behavior of markets and recommend strategies to help people preserve their wealth. As investors, many readers have benefited from my advice; but as Americans, they are frustrated that they have to look abroad for decent returns because Washington continues making a mess of things at home. I am too.

As you may know, I have decided to run for U.S. Senate from my home state of Connecticut. Although I’m certainly interested in representing the interests of my home state, I also believe that the outcome of this race will affect the entire country. Though there were many important developments in world markets this week, please allow me this time to speak to you about my candidacy and your role in it:

Make no mistake about it, winning a U.S. senate seat will not be easy. First, I need to get through a highly contested Republican primary featuring some very well-funded and high-profile opponents. Then, I need to defeat a five-term incumbent Democrat who chairs the Senate Banking Committee. Though Chris Dodd is unpopular now, he has a lot of powerful friends, including President Obama, and he certainly knows how to use incumbency to his advantage.

However, these are unique times, and politics-as-usual may no longer secure the re-election of a skilled politician. Though Dodd will try to turn my lack of political experience into a liability, it is much more likely to be an asset in the current climate. Conversely, Dodd’s lack of private sector experience raises questions about his ability lead this country out of an economic crisis, especially one that he and his buddies in Washington created.

I have made a good life as a private citizen, but as the father to a seven-year-old boy, I can no longer sit on the sidelines while career politicians destroy my heritage and my son’s future. This is a pivotal time in American history, with the very character of our civilization hanging in the balance. We need to make sure the weight shifts back toward freedom. With your help, I will do everything in my power to ensure such an outcome.

However – I cannot stress this enough – I need your help. If everyone reading this letter gets involved, I am confident we can win. There are several ways you can help, but two in particular stand out.

First and foremost, you can make a donation to my campaign at All donations will make a difference. As this will be an expensive race, requiring as much as twenty million dollars to win, the larger the donation, the more it will help.

The maximum allowed donation is $2,400 per person in the primary and another $2,400 in the general election. However, both donations may be made upfront, so $4,800 is the most one person can donate today (married couples can donate a maximum of $9,600). If I do not advance to the general election, the second $2,400 would be refunded. However, since the primary is just a few months before the general election, it helps to raise money for both right now.

I realize that this is a lot of money to donate in a recession, but large contributions from supporters like you are necessary for me to win this election. Undoubtedly, checks of such size qualify as a large sacrifice. But this is one election where your contribution can truly make an impact.

Think about it: can you imagine the political waves that would result from my arrival in the U.S. Senate? Unlike other newly arrived Senators, I would have no interest in playing ball in exchange for cozy committee assignments or re-election funding. I would arrive with one mission: telling the truth in the halls of power, with a mandate the Beltway insiders could not ignore.

If I can win this Senate seat, it means no incumbent will be safe. Those who do not follow my lead risk losing to others who do. I'm not saying that my election will single-handedly change the direction of the country, but it will certainly set the process in motion.

To accomplish this, we have to act. I am willing to lead the charge, but I need an army of support behind me. This is our moment – to put upbeat headlines back on the newspapers, to leave our children with opportunities instead of debt, and to restore our country’s best traditions by discarding the policies that shattered them.

Of course, to raise an army, I need plenty of volunteers. I will work tirelessly over the next year to spread our message, but my real strength will be the thousands of dedicated supporters who make this campaign their own. My plan is to utilize this asset in a way that promises to shock my opponents and potentially revolutionize modern political campaigning. So even if you cannot donate much money, your time will be just as valuable. And even if you can’t travel to Connecticut, we can still use your help.

To donate either time or money, just go to my web site at There you can either make a contribution, sign up to be a volunteer, or both.

If you prefer to donate by check, please mail your contribution, made payable to “Schiff for Senate,” directly to my campaign at: Schiff for Senate, P.O. Box 1134, Weston, CT 06883.

Thank you for your time and for sharing this message with your friends and relatives. I’ll see you on the campaign trail.

Peter Schiff

Euro Pacific Capital

More importantly make sure to protect your wealth and preserve your purchasing power before it's too late. Discover the best way to buy gold at , download my free research report on the powerful case for investing in foreign equities available at , and subscribe to my free, on-line investment newsletter at

Peter Schiff Archive

© 2005-2019 - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.

10 Oct 09, 00:06
Let's make a deal Mr Schiff

Let's make a deal Mr Schiff. Once the magical "free" market regulates itself to a level playing field, and the protections put in place that have made life qualitatively better for working-class Americans over the last 100 by the govt. are no longer needed, I will vote for you.

I live in Stamford and that's a promise.

10 Oct 09, 19:04
Peter Schiff

Schiff you are NOT for the people. You are for Wall Street and exploitation by corporate America. You did not peredict the financial crisis because you have been pitching the same doom for many many many years. You did not provide any specific predictions. Most of your clients lost more than if they had stayed buy and hold in the US stock market. You are a sell out to the media. You are just a salesman. You are a disaster and a media whore.

11 Oct 09, 13:46
Brad is completely wrong.

Brad, you should stop spreading nonsense and lies. Peter Schiff is completely against corporatism - where would you get such a vicious idea from? Somebody for corporatism runs under the same vile belief as the Stamford citizen above - that one does not own the fruits of their labor. It belittles the productivity of the American citizen, and plays favorites among the evilest of corporations, who would rather make money dishonestly through government collusion, and not honestly through good work ethic.

You're wrong about Peter's prediction record, too. Previous to the housing bubble, Peter was warning of the NASDAQ bubble which burst just as he predicted. It was the regulatory actions at the beginning of the Bush administration, post-NASDAQ-crash, that led him to realize that the fundamentals of the economy were completely unsound, and that we built a housing bubble to compensate for the NASDAQ-related slowdown in the early 2000s. To utilize the "a broken clock is right twice a day" logic is to engage in severe intellectual dishonesty, and can only really be performed by somebody who has not read his work, nor has the desire to even learn of Peter's economic and philosophic/political principles.

You say: "Most of your [Peter's] clients lost more than if they had stayed buy and hold in the US stock market," but how do you qualify that ridiculous statement? Are you ignoring that we created a credit bubble to compensate for the housing bubble, and that this policy was an attempt to artificially increase the valuation of US assets? If you are, then you are ignoring the fact that these values are extremely artificial, and thus very volatile. Why would any long-term investor want to ride the US stock market when it will inevitably crash and break down in the near future? How could you possibly defend such reckless behavior, if you're so naively critiquing a long-term investment broker?

How is Peter a sellout to the media? He hardly gets any media coverage compared to the complete goofballs - the ones who laughed at Peter when he was making all the right calls - that CNBC/CNN/FOX have on all the time. He sells books, sure, but are you suggesting that successful, profitable people are somehow immoral or evil? That, my confused friend, would be the most evil insinuation of all to make: that success is a vice. Are you sure you wish to make such an evil claim?

11 Oct 09, 18:57
Libertarian Republicanism

gbil, so "Once the magical "free" market regulates itself to a level playing field, and the protections put in place that have made life qualitatively better for working-class Americans", etc. Haha! You mean when Bill Clinton did away with Glass-Steagall? Or when he sent our jobs overseas thru NAFTA??? What a foolish American (what a surprise).

Keep fiddling while your Rome burns. You can always blame Bush.

The reality is we have a proto-fascist system put in place in 1913 with the Fed. Reserve and only now coming into its full glory, i.e. banks own us! Vote Bush, Clinton, Obama, it doesn't matter. Vote at least for one man with ethics and morals and who actually understands money/economics. All the rest are corrupt. I'm looking forward to the second American revolution.

Mad Stan
12 Oct 09, 15:13
Actually he did specify his predictions

he said at the mortgage banker speech, to paraphrase, that when the subprime teaser rates reset, homeowners will see their mortgages go up. That they will stop spending so they can make their mortgage payment and this would have a domino effect on an economy that is 70% consumption. You're a dishonest, morally bankrupt Brad.

jermey citrino
12 Oct 09, 17:11
your dad is my hero

anybody who doubts peter schiff's legitimacy as a REAL AMERICAN FOR THE PEOPLE, please look up irwin schiff,

i've been to a few tea parties here in ct. i made my own schiff 4 senate sign. i will vote for you.

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