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Peter Schiff — Purveyor of Libertarian Principles … When Convenient

For the past several years, we’ve heard the doom-and-gloom prognostications coming from perma-bear Peter Schiff: The Federal Reserve is the root of all evil. Inflation will be the United States’ undoing. Invest in gold and overseas because the American stock market is toast. Perhaps that’s a legitimate view, but Schiff argues a more libertarian approach to prevent these supposed calamities. He argues for a different way of handling monetary policy , less spending by the federal government and a rethinking of how regulation is handled . Yet, when a political campaign is waged in the halls of Congress by a partisan member against one of his competitors , he turns a blind-eye to the abuses of government power. “You know, I have my own gold company and it bothers me what they’re going to do,” Schiff said to CNBC’s “The Kudlow Report” fill-in host Michelle Caruso-Cabrera on the Sept. 24 broadcast. “I think that companies like, you know, like Goldline, you know that are basically marking up their gold coins 67 percent or whatever – it’s outrageous. I mean, most companies mark-up 2 or 3 percent, which is what I do. These type of companies give the whole industry a bad name. What I’m afraid of is we’re going to have a lot of regulation.” Caruso-Cabrera asked Schiff in these circumstances if it was a case of buyer beware. However, Schiff suggested it was fraudulent for coin companies to charge these prices for what by any measure of the law would be a legal transaction if a consumer chose to purchase coins from such a company. “If there’s fraud, it’s not buyer beware,” he continued. “But what I’m afraid of is I don’t want government regulating the coin industry so that people like me have to raise our prices to cover all the extra cost of regulation.” But assuming Schiff’s assumption were correct, wouldn’t he has a competitor be able to move in on the market and offer the same product for a lower price? Isn’t that how the free market operates? Schiff conceded that point, but complained he was getting beat because he couldn’t afford the advertising. “I mean, I think the free market should ferret out these companies that are grossly overcharging people who don’t know any better. You know, that’s the problem. People haven’t bought gold in so long and see how well it’s doing and get conned by these commercials that are all over television. But most gold companies like mine, we can’t afford to run commercials because we’re not charging that much.” Schiff makes regular appearances on all the cable news networks, with his firm’s logo Euro Pacific Capital on the backdrop and raised more than $3 million for his failed effort to win the Connecticut Republican U.S. Senate nomination. So is it fair to complain about his firm’s inability to market its products, if indeed they’re at lower prices than the competition’s products.

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Peter Schiff — Purveyor of Libertarian Principles … When Convenient

George Will Schools This Week Panel on Tea Party Causing GOP Civil War

George Will on Sunday gave a much-needed education to the entire “This Week” panel about how the Tea Party is moving the GOP in a positive direction that could alter politics in this nation for years to come. As Christiane Amanpour and her Roundtable guests – Democrat strategist Donna Brazile, National Journal’s Ron Brownstein, and Republican strategist Matthew Dowd – all fretted about the so-called Civil War brewing in the GOP, Will was once again the voice of reason.  “At the beginning of the year, the question was, will the Tea Party people play nicely with others and will they obey the rules of politics? Who’s sort of not playing nicely?” asked Will. “Mr. Crist starts losing the primary to a Tea Party favorite Rubio. He suddenly discovers that he’s an independent and changes all his views overnight,” he continued. “Mrs. Murkowski loses a primary and suddenly discovers that she has a property right in her Senate seat and she’s going to run as a write-in. Senator Bennett thought of that in Utah, Senator Castle in Delaware is thinking of a write-in candidate. Who are the extremists?” (video follows with transcript and commentary):  DONNA BRAZILE, DEMOCRAT STRATEGIST: But, you know, the Republicans have a great story right now to tell. Excuse my voice. I was up watching the LSU game, clearly. But the — the problem I have — and the Republicans should — should understand — is that there’s still an eternal civil war going on within the Republican Party. In Washington state, in Delaware, and Colorado, many of the mainstream Republican candidates have not endorsed the Tea Party candidates. They’ve provided enthusiasm, they’ve provided a lot of energy and organization for the Republican Party, but we don’t know yet if the Republicans can heal those wounds and provide the kind of turnout they need to beat the Democrats. MATTHEW DOWD, REPUBLICAN STRATEGIST: I think that if you gave most Democrats truth serum and they said who’s place would they rather be in, they would pick the Republicans’ place in this year’s election as opposed to their own place in this year’s election. The problem I think for this class that’s coming in for the Republicans is for Mitch McConnell, who just talked to, is his ability to herd them is going to be like herding quail, because these folks are coming to Washington and think, “I’m not going to be part of this. I’m not going to listen to the leaders. I’m going to do what the voters want me to do,” and they’re not going to be — they’re not going to be acquiescent to what the leadership wants. CHRISTIANE AMANPOUR, HOST: And that’s what I actually — I wanted to ask, because in today’s newspaper, there’s a quote by a senior Republican, you know, consultant that, after the elections, it’s going to be basically all-out war, a struggle for the heart and the soul of the Republican Party. You’re shaking your head. GEORGE WILL: They’ve been writing this story for eight months about what a problem the Tea Party is for the Republican Party. You know what the problem… (CROSSTALK) AMANPOUR: Well, Tom Ross basically told us that they lost because of that and they might lose. WILL: On balance across the country, the Tea Party is enormous help for the Republicans. At the beginning of the year, the question was, will the Tea Party people play nicely with others and will they obey the rules of politics? Who’s sort of not playing nicely? Mr. Crist starts losing the primary to a Tea Party favorite Rubio. He suddenly discovers that he’s an independent and changes all his views overnight. Mrs. Murkowski loses a primary and suddenly discovers that she has a property right in her Senate seat and she’s going to run as a write-in. Senator Bennett thought of that in Utah, Senator Castle in Delaware is thinking of a write-in candidate. Who are the extremists? (CROSSTALK) RON BROWNSTEIN, NATIONAL JOURNAL: Donna, I would say, look — I mean, I think clearly this class of Republicans do not feel they are being sent here to Washington to compromise with Barack Obama or to follow the Republican leadership. So in that sense, there’s going to be tension. And I quote Ken Buck in my story as saying so. But if you look at what they are actually going to be voting on, in all likelihood, over the next two years, there is remarkable unanimity in this class. And despite all the focus on the civil war, I think that is kind of a — what the long-range vision of what the federal government should be doing or not doing is where you will see diversity. (CROSSTALK) BROWNSTEIN: But in the near term — in the — in the near term, I think — in terms — the main thing that the Republicans, I think, are being sent here to do is to block and try to roll back whatever they can what Obama did. I think the spending thing will continue to be a challenge for them, because if you want to reduce the deficits and extend the Bush tax cuts, that does point you back toward cutting Medicare and Medicaid, which is exactly the problem they got into in ’95, and they may end up in that same cul-de-sac next year. But I actually believe there is more commonality in this class than is often assumed. And in the near term, they are going to be a very formidable and, I think, cohesive force. WILL: And look at the not-so-near term. In the next two cycles, 2012 and 2014 combined, the Democrats are defending 43 Senate seats, Republicans 22. So the Republican wave that’s now starting is just starting. Indeed. As Will accurately stated, the media have been “writing this story for eight months about what a problem the Tea Party is for the Republican Party.” The liberal press are always trying to figure out a narrative that paints the GOP in the most negative light.   First we were told the Tea Party represented an inconsequential fringe of racists and homophobes that will have no impact on elections. Now that its candidates have produced shocking results across the fruited plain, and have reinvigorated conservative voters like nothing we’ve seen in many years, the movement is going to produce a Civil War within the Republican Party that will either hurt it in November or make it impossible for it to govern if its successful at the polls. This is clearly why you could see Will either shaking his head or seemingly laughing to himself as his colleagues waxed philosophically about some as yet unrealized though oft-predicted calamity associated with this movement. Less than two years after Barack Obama and the Democrat Party won a landslide victory that had the potential of being a political realignment shifting the balance of power in this country to the left for many years nay decades, the Republicans are on the precipice of shocking the world by taking back the Congress. Is it any wonder the media are doing their darnedest to figure out a way to undermine it or that Will is getting such a kick out of watching them try?

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George Will Schools This Week Panel on Tea Party Causing GOP Civil War