Peter Schiff Breaks Down the Inflation Tax
Peter Schiff recently appeared on the Matt Walsh podcast. During the interview, he broke down exactly how the Federal Reserve and the US government team up to hit you with an inflation tax.
Matt said upfront that culture and social issues are more in his wheelhouse than economics. But like pretty much everybody, he sees prices rising with his own two eyes. He said he went shopping with his wife recently and “had one heart attack after another looking at how expensive everything was.” Peter said, “You ain’t seen nothing yet.”
Prices are just starting to go up. So, they’re going to go a lot higher. And I think even the acceleration is going to pick up, so, you’re going to see bigger gains.”
Peter said the real question is why didn’t this happen sooner? Why weren’t prices moving up faster over the last few years?
The Federal Reserve has been creating a lot of inflation. That’s been their monetary policy. That’s how they responded to the busting of the dot-com bubble, and then the housing bubble, and then COVID – they just printed a lot of money.”
As Peter pointed out, money creation itself is inflation. Rising prices are a symptom.
The more money there is, the more expensive everything is, because each unit of money is diminished as the quantity of money is increased. So, as you have more dollars, each dollar is worth less and now you n
Article from LewRockwell