Fox Business spoke with Peter Schiff yesterday about the coming problems in the bond market, and the effect it will have on consumer prices:
“And when foreigners start selling dollars, rates are going to go up and consumer prices are going to start going up. And that’s really going to hit consumers hard. Take a look what’s happened in the crude oil market. That chart looks really really strong. You could see a huge breakout in oil prices and food prices in 2013. That’s going to hit consumers right in the wallet. And Ben Bernanke has already said, he doesn’t care how much his inflationary monetary policies pushes up the cost of food and energy. He’s going to ignore that and is just going to feed the fire by printing even more money.”