NewsBusters: Peter Schiff is a libertarian only when convinient

[low preference guy]

NewsBusters: Peter Schiff is a libertarian only when convenient

A blogger at NewsBusters completely misunderstood Schiff's point in a CNBC appearance. The title of the post is Peter Schiff -- Purveyor of Libertarian Principles ... When Convenient.

The blogger writes, in the context of talking about Goldline:

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.”

What Schiff said doesn't imply that charging high prices is fraud. The blogger totally made that up.

Read more: http://newsbusters.org/blogs/jeff-p...rian-principles-when-convenient#ixzz10fnUfYqV

 

[geewhzz]

stupid... peter has said before that he could care less what goldline is doing so long as there is no fraud going on. he's also said how the problem is that a few "bad apples" are going to spoil the bunch with congress getting involved because a couple consumers who didn't do their homework feel ripped off in a voluntary exchange.

 

[wormyguy]

I wouldn't characterize charging excessive prices for gold coins as fraud, per se, but I think it might be reasonable to have them conclude their advertisements with a disclaimer along the lines of "Goldline is not an investment exchange."

 

[Daamien]

I wouldn't characterize charging excessive prices for gold coins as fraud, per se, but I think it might be reasonable to have them conclude their advertisements with a disclaimer along the lines of "Goldline is not an investment exchange."

If they are misleading customers into bait-and-switch purchases, then it is indeed fraud.

 

[Jester6193]

Peter talks about this article in his latest video blog...