Peter Schiff Talks to The One Percent: "The Economy is about to implode…we're not even near the bottom yet"

"You Got this Occupy Wall Street crowd that wants to have a communist revolution," says investment guru and outspoken defender of free enterprise Peter Schiff, "but hopefully we can have more of a free-market…second American revolution and understand all the pain we're about to endure is because of government. It's not because of capitalism."

Schiff caused a sensation last month when he visited New York's Zuccotti Park and argued with Occupy Wall Street protesters about the causes of and solutions to the Great Recession. In this video, he talks to "the 1 Percent," a group of wealthy individuals who gathered recently in the Bel Air home of Judd Weiss .

Regardless of his audience, Schiff's message in entirely consistent: Cronyism and government policies have distorted the economy and "we're not even near the bottom yet" in terms of the downturn.

About 6 minutes. Shot by Sharif Matar and Tracy Oppenheimer and edited by Oppenheimer.

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