'You are the threat to financial stability': Peter Schiff blasts Sen. Warren as she calls for regulators to kill major merger



Democratic Sen. Elizabeth Warren of Massachusetts is calling for regulators to put the kibosh on plans for Capital One to acquire Discover.

According to a press release, Discover shareholders will get 1.0192 Capital One shares per Discover share that they own.

But Warren wants regulators to scuttle the deal.

"The merger of @CapitalOne and @Discover threatens our financial stability, reduces competition, and would increase fees and credit costs for American families. This Wall street deal is dangerous and will harm working people. Regulators must block it immediately," Warren declared in a post on X.

Euro Pacific Asset Management chief economist and global strategist Peter Schiff responded to Warren's post, writing, "You are the threat to financial stability. Thanks to your reckless spending Americans are responsible to repay a $34 trillion National Debt. Plus, taxes, regulation, and government created inflation are the main reasons Americans rely so heavily on credit cards to make ends meet."

— (@)

Senate Banking, Housing, and Urban Affairs Committee chair, Democratic Sen. Sherrod Brown of Ohio said in a statement, "We will be monitoring all developments to ensure that this merger doesn't enrich shareholders and executives at the expense of consumers and small businesses."

Both Capital One and Discover promote ESG ideology.

"Discover has built a rare and valuable global payments network with 70 million merchant acceptance points in more than 200 countries and territories. Even so, it is the smallest of the four US-based global payments networks. This acquisition adds scale and investment, enabling the Discover network to be more competitive with the largest payments networks and payments companies," the press release about the deal states.

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Amid Russian invasion of Ukraine, Peter Schiff suggests that while 'times are hard,' Ukrainian President Zelenskyy should have worn a suit while addressing the US Congress



Peter Schiff faced significant backlash Wednesday on Twitter for posting a tweet suggesting that Ukrainian President Volodymyr Zelenskyy, who delivered an address to the U.S. Congress on Wednesday, should have worn a suit instead of a t-shirt.

"I understand times are hard, but doesn't the President of the #Ukraine own a suit? I don't have much respect for current members of the U.S. Congress either, but I still wouldn't address them wearing a t-shirt. I wouldn't want to disrespect the institution or the Unites States," wrote Schiff, an economic and financial pundit who hosts "The Peter Schiff Show" podcast. Schiff is the chief economist and global strategist of Euro Pacific Capital.

I understand times are hard, but doesn't the President of the #Ukraine own a suit? I don't have much respect for current members of the U.S. Congress either, but I still wouldn't address them wearing a t-shirt. I wouldn't want to disrespect the institution or the Unites States.
— Peter Schiff (@Peter Schiff) 1647436236

Zelenskyy's address, and Schiff's comment about the man's attire, came as Russia continues to brutally bombard Ukraine, killing many, including civilians.

Schiff, who faced heavy pushback on social media, defended his comments.

"Peter, I agree with you on countless issues, but the guy is in the midst of war....I think it’s understandable and acceptable. Few in our congress would go to the frontlines of war...." one person tweeted.

"If he was speaking live from a foxhole I would agree. But this was a planned historic event. He was not under fire. It makes no sense that he could not have dressed in something more formal than a t-shirt," Schiff replied.

"Dude, not only is he in a war-zone, where I'm sure it's hard to get a suit press and dry clean, but even if it was possible, it's favorable for people to see him as one of them sharing the struggle," someone else commented.

Schiff replied, "He would not have had to press a suit. I'm sure he had a clean suit hanging in the same closet as his t-shirts. Plus even if there were not suits available, maybe a long-sleeved shirt with a collar."

He would not have had to press a suit. I'm sure he had a clean suit hanging in the same closet as his t-shirts. Plus even if there were not suits available, maybe a long-sleeved shirt with a collar.
— Peter Schiff (@Peter Schiff) 1647438354

GOP Rep. Adam Kinzinger responded to Schiff's suggestion that the Ukrainian leader should have stepped up his attire for the speech: "I'm ok with it man. You know, war and all," Kinzinger tweeted.

"Imagine not just thinking this, but sending it out into the universe. What an ass. 'Times are hard' is the takeaway when Ukrainian lives are being destroyed simply for wanting to exist without intrusion? Talk about privilege. Here’s an example," Kimberly Ross tweeted.

"It's only March, but you, sir, have just posted the dumbest thing I'll see on Twitter all year," someone else declared.

"Then you don't spend much time on Twitter," Schiff responded.

Then you don't spend much time on Twitter.
— Peter Schiff (@Peter Schiff) 1647439817
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