Peter Schiff joins Yahoo Tech Ticker to discuss money printing, and the Fed’s solution to the economic problems through inflation.
The crazy thing is, the reason Ben Bernanke wants to create inflation because he says unemployment is too high. As if more inflation is going to solve our unemployment problem. All more inflation is going to do is make the problem worse, because now not only are you unemployed but it’s going to cost more for food, it’s going to cost more to heat your house, more to drive your car when you’re looking for job…You don’t create jobs by creating inflation.
What is going to happen down the road, a year or two from now when the CPI is no longer tame, when it’s running maybe 5% or 10%, or15% per year, but there’s still 10% unemployment or maybe 12% or 15% unemployment – what is the Federal Reserve going to do?
…what’s going to happen when all of a sudden interest payments on the national debt aren’t $400 billion, but a trillion?
Watch Peter Schiff on Yahoo Tech Ticker:
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