Peter Schiff: A Call To Action

I don’t agree with everything that Peter Schiff says, and I don’t live in Connecticut, but I’d love to see him win his run for the Senate.  As for my thoughts on his opponent Christopher Dodd‘s tenure on the Senate Finance Committee…I feel they’ve been made pretty clear here and here.

Schiff is the president of brokerage firm Euro Pacific Capital, and he spent years warning investors and the media of the dangers inherent in our fiscal policies.  I can’t speak for the performance of his client accounts, I can only say that a lot of what he predicted did come to pass, including the monster bull market in gold that’s been intensifying of late.

Below is Schiff’s Call to Action piece in its entirety.  His message is that what happens in his own political contest has broader ramifications than just the fate of his state.

From Safe Haven:

October 09, 2009

A Call to Action
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 www.schiffforsenate.com. 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 www.schiffforsenate.com. 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.

He’s a long shot, but a very interesting candidate to say the least.  And he gets the markets and money, which would be a nice change of pace.

Source:

A Call to Action (Safe Haven)

What's been said:

Discussions found on the web
  1. Adam commented on Oct 15

    Im quite confuse why Schiff needs money to help his campaign. He’s been advising all his readers for years to invest in gold and commodities, but now he wants us to invest in him. Is Peter Schiff the next gold? Will he give me a 1000% return on my investment in 10 years? I doubt it. The audacity of this guy is killing me. I was a follower of his until this! His personal campaign website expresses how your $4800 campaig contribution will help get him the Senate seat where he will shake things up and not take any bribes to “play ball”. Seriously? Schiff sounds exactly like every person running for an office before they were elected. So why should I invest in a man who has told me for years to invest in gold, only to run for office and ask for money from regular working people. He’s a CEO with undoubtedly fat checking/savings/bonds/treasuries/etc. So DONT GIVE PETER SCHIFF ANY MORE CAMPAIGN CONTRIBUTIONS! He’s better to us untainted as an economist…not a politician. If he is as smart as I THOUGHT he was, he’d stick to what he does best. Politics ruins good people.

  2. Adam commented on Oct 15

    Im quite confuse why Schiff needs money to help his campaign. He’s been advising all his readers for years to invest in gold and commodities, but now he wants us to invest in him. Is Peter Schiff the next gold? Will he give me a 1000% return on my investment in 10 years? I doubt it. The audacity of this guy is killing me. I was a follower of his until this! His personal campaign website expresses how your $4800 campaig contribution will help get him the Senate seat where he will shake things up and not take any bribes to “play ball”. Seriously? Schiff sounds exactly like every person running for an office before they were elected. So why should I invest in a man who has told me for years to invest in gold, only to run for office and ask for money from regular working people. He’s a CEO with undoubtedly fat checking/savings/bonds/treasuries/etc. So DONT GIVE PETER SCHIFF ANY MORE CAMPAIGN CONTRIBUTIONS! He’s better to us untainted as an economist…not a politician. If he is as smart as I THOUGHT he was, he’d stick to what he does best. Politics ruins good people.

  3. Vincent commented on Oct 17

    If your confused, then you must be a total dunce when it comes to investing. I’m not confused, I can read between the lines and I can tell you are a leftist!
    Seriously, it really does take money to run for office!
    If he was spending his own money only, to try and get elected you would be complaining also! It takes a lot of money to run for any major office, especially against a left wing socialist Democrats like Dodd. If a candidate can’t raise money and must use his own to get elected, we don’t need that kind of person, only people who think they can trust and support Schiff’s beliefs will contribute to his campaign. I’m I regular working person with a family, I don’t get handout’s from Acorn, I can’t afford to invest in gold, but I can send a $20 bill to support a person who supports free enterprise! Doing nothing ruins good people!

  4. Vincent commented on Oct 17

    If your confused, then you must be a total dunce when it comes to investing. I’m not confused, I can read between the lines and I can tell you are a leftist!
    Seriously, it really does take money to run for office!
    If he was spending his own money only, to try and get elected you would be complaining also! It takes a lot of money to run for any major office, especially against a left wing socialist Democrats like Dodd. If a candidate can’t raise money and must use his own to get elected, we don’t need that kind of person, only people who think they can trust and support Schiff’s beliefs will contribute to his campaign. I’m I regular working person with a family, I don’t get handout’s from Acorn, I can’t afford to invest in gold, but I can send a $20 bill to support a person who supports free enterprise! Doing nothing ruins good people!

  5. Adam commented on Oct 19

    Replying to Vincent…

    I am a leftist, and I wasnt attempting to hide it “between the lines”. So, Im happy you can identify a leftist as a right wing supporter. And no, Im a not a dunce when it comes to investing, just smart when it comes to giving out my money to people who shouldn’t be requesting it for their own personal gain. Schiff is a great economist and I’ve followed his advice for years, but I dont believe in supporting any politician who promises change. I’ve learned in politics that you should sh*t in one hand and wish in the other, then see which one fills up first. I could send Schiff my hard earned $20 and WISH that he wins the seat. OR i could save my money and invest in gold/commodities since that’s where I’ll earn the most reward…WELL, at least that’s what Schiff told me to do last Spring before he decided to run for office and ask for my investment in HIM. Im sorry Vincent, but you’re obviously CONFUSED as to why I posted in the first place. Read my post again… “I was a follower of his until this”. He has alienated a lot of his followers by running for office, when he would better serve his followers as an economist.

  6. Adam commented on Oct 19

    Replying to Vincent…

    I am a leftist, and I wasnt attempting to hide it “between the lines”. So, Im happy you can identify a leftist as a right wing supporter. And no, Im a not a dunce when it comes to investing, just smart when it comes to giving out my money to people who shouldn’t be requesting it for their own personal gain. Schiff is a great economist and I’ve followed his advice for years, but I dont believe in supporting any politician who promises change. I’ve learned in politics that you should sh*t in one hand and wish in the other, then see which one fills up first. I could send Schiff my hard earned $20 and WISH that he wins the seat. OR i could save my money and invest in gold/commodities since that’s where I’ll earn the most reward…WELL, at least that’s what Schiff told me to do last Spring before he decided to run for office and ask for my investment in HIM. Im sorry Vincent, but you’re obviously CONFUSED as to why I posted in the first place. Read my post again… “I was a follower of his until this”. He has alienated a lot of his followers by running for office, when he would better serve his followers as an economist.