On Thursday, he made it official.
Schiff, head of Euro Pacific Capital, used an appearance on the MSNBC program "Morning Joe" to declare the exploratory phase of the campaign over. He said the economy is spurring him to run: "I can't sit idly by and just watch a train wreck in motion."
Weston, Connecticut., September 17, 2009 - Today, Weston Republican Peter Schiff formally announced his candidacy for the U.S. Senate. Over the past few months, Mr. Schiff, a successful entrepreneur and well-known proponent of fiscal responsibility, has been inspired by his fellow citizens urging him to bring his principled approach to Congress. As he enters this campaign, Mr. Schiff’s priority is to serve the American taxpayer. Years of reckless federal spending have placed an immense burden on every American that Mr. Schiff vows to ease.
Peter Schiff was born to a working-class family in New Haven, Connecticut. His grandfather came to New Haven in 1910 and helped with the construction of the Yale Bowl. Mr. Schiff spent his childhood in New Haven during the 60s and 70s during which values were instilled in him by his family such as hard work, self-reliance, and loyalty-loyalty to friends, to family, and to country. After successfully building his brokerage firm, Euro Pacific Capital, in California, Mr. Schiff decided to relocate the headquarters to Connecticut in 2003. He currently resides in Weston with his seven year old son. Since returning to Connecticut Mr. Schiff has published two books: Crash Proof and The Little Book of Bull Moves in Bear Markets.
Mr. Schiff gained notoriety in 2006 with a series of national interviews in which he accurately diagnosed the dangers that confronted the economy and predicted the mechanisms that led to the crash. His correct prognosis of the sub-prime lending crisis and subsequent credit crunch made him a popular economic commentator. Ever since, he has tirelessly sounded these warnings.
In January of 2009, with the near-collapse of the financial system and revelations about the corruption of Connecticut politicians, calls began to surface for Mr. Schiff to run for office. An exploratory committee was formed in June.
To date, 10,000 individuals have convinced him to run for Senate with telephone calls and letters of support; additionally, they have raised over $1,000,000 on his behalf. Schiff now believes a run for the Senate is absolutely necessary to give a voice to the majority of Connecticut taxpayers who are misrepresented.
Mr. Schiff says, “I plan to bring my dedication and experience to the taxpayers of Connecticut. I may make mistakes in this campaign—but I will not make mistakes in representing you in the Senate. I look forward to an exciting race where I can share my vision with the people of Connecticut.”