Business News Network had Peter Schiff back on yesterday to get his take on the Fed’s suggestion that it might start tapering in September.
“The government has no tools to combat [inflation]… The Federal Government and the Federal Reserve want to inflate away all the debt. The US government has a lot of debt, American households have debt, corporations have debt [and] it’s impossible to repay it. They want to inflate it away, but they don’t want our creditors to realize what plans we have and so we’re going to continue to misrepresent how much inflation there is…”
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The Fed balance sheet is $3.5Trillion. How would this stuff be sold to others?