In his latest appearance on Fox Business, Peter Schiff gets in a friendly argument about the hidden inflation obscured by phony government measurements. He also reminds investors that we’ve seen volatility like this in the gold market in the past, just before gold soared to new highs.
“The definition of inflation is an expansion in the money supply… The Fed is buying $85 billion a month of Treasuries and mortgages. Where do you think that money is coming from? It is being created into existence out of thin air by the Federal Reserve… Eventually our trading partners are going to stop absorbing our inflation. The dollar is going to tank… and all this inflation that we’ve been exporting is going to hit us like a tsunami.”
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