Peter Schiff doesn't need to make any campaign videos for his just-formalized bid for the Senate seat now held by Connecticut Democrat Chris Dodd.

Schiff predicted the subprime crisis, general real-estate crash, bank fiasco and just about every other facet of last year's Wall Street meltdown. And it's all captured on Fox and MSNBC talking-head shows.

What a perfect guy to run against a senator who's chairman of the Senate Banking Committee. And what a race anyway: One of Schiff's opponents for the GOP bid is wrestling chump Vince McMahon's wife, Linda.

She's a lightweight. Schiff, on the other hand, is not. The videos of Schiff arguing his points on Fox and CNBC back in 2006 and 2007 are rich. Especially when Ben Stein, Stuart Varney, Art Laffer, and other talking heads smugly deride Schiff's predictions, sneer at him, and even laugh out loud. As I say, Schiff's already got his campaign videos, and they are powerful stuff.

In them, he comes across (in retrospect) as a genius, well-spoken, even somewhat populist. The problem is the baggage he'll carry into the race. He advised on libertarian Ron Paul's presidential campaign and lugs around his own label as a libertarian — the L-word doesn't play well in our one-party/two-party version of democracy.

And then there's his dad, Irwin Schiff, one of the most notable tax protesters in U.S. history. More on the exciting life (in and out of prison) of the irascible Irwin Schiff here and here.

No doubt Peter Schiff's opponents will try to characterize him as a nut case. But he's not, and he's always got his videos, and people will eat them up.