Founding a Business, Housing Prices, Trusts and Selling Oil to China

Listeners’ Questions, Peter’s Answers- November 10, 2011

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Kevin from Washington D.C.
In an interview, you said you started Euro Pacific Capital because you wanted to increase your revenue. I’d like to start my own business. Do you think money is enough of a motivation in founding a business, or does your business really need to speak to your interests? If it doesn’t speak to your interests, are you doomed to fail?

Chris from Clearwater, FL
How much do you predict housing prices will drop? And by when? Do you predict they will turn back around?

Amy from Scarsdale, NY
What do you think about the role of trusts? Do you think they hurt our economy? A lot of people transfer their money into trusts so they can get the government to pay for their health-care if one day it is needed.

Jan from Lerum, Sweden
Stephen Leeb claimed that Saudi Arabia would prefer selling oil to China, and that that would occur as soon as China has the carrier caapacity to defend Saudi Arabia. He claimed they might be able to do that in 2-3 years and that this would trigger hyperinflation in the U.S., since they would not use dollars in the transactions. Do you find this scenario likely?

Lucas from Almaty, Kazakhstan
Would a default of Greece and maybe Italy and Spain trigger such a big fall of so many banks that many people would lose their savings and be pushed in the streets? Aren’t we just desperately trying to avoid war at any cost?

Peter Schiff is an economist, financial broker/dealer, author, frequent guest on national news, and host of the Peter Schiff Show Podcast.

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