Peter Schiff Bank Failures
Peter Schiff is an American stock broker, author, financial commentator and radio host who has been critical of the Federal Reserve’s policies since at least 2008. He is perhaps best known for his predictions that the US housing market would collapse in 2007 and later on that the Euro currency would decline after its introduction in 2009.
Since then, he has become a popular figure within the cryptocurrency community due to his vocal advocacy of Bitcoin as well as other alternative digital currencies such as gold-backed cryptocurrencies like Digix Gold tokens (DGX). Unfortunately, this same enthusiasm for cryptocurrencies does not extend to traditional banking institutions which have been subject to various failures throughout their history.
Peter Schiff himself experienced one such failure when his brokerage firm Euro Pacific Capital Inc. went bankrupt in 2018 due to fraud allegations by regulators from both Canada and Bermuda. In addition, several banks associated with Peter Schiff have also gone under during recent years:
– First National Bank of Omaha closed down operations in 2017 due to “allegedly being involved in deceptive practices”.
– The Merrimack Valley Credit Union filed for bankruptcy protection back in 2016 following mismanagement issues regarding its loan portfolio.
– Most recently, Castle Creek Financial LLC was shuttered by the New York Department of Financial Services earlier this year due to “unlawful practices” related to mortgage lending activities carried out by the company’s owner Thomas Jansen Jr., who had previously worked with Mr. Schiff and other financial organizations owned by him such as Euro Pacific Capital Inc..
Although these bank failures are undoubtedly unfortunate events, it should be noted that none were directly caused or influenced by any actions taken by Mr. Schiff himself nor did they arise from any investments made through any of his companies or affiliated entities beyond those mentioned above (in particular no damage occurred because of any investments into digital currencies). Therefore it appears likely that despite past difficulties faced by some banks connected with Peter Schiff; investors can still look towards him favorably when deciding where they want place their money – although always making sure proper research is done first!
