Printing money creates inflation, which weakens an economy. Unfortunately, this kind of common-sense thinking never seems to penetrate academic circles.
Peter Schiff
Printing money creates ...
Quotes from the same author
Contrary to the rhetoric emanating from the American left, the 'rich' are currently paying a lot more than 'their fair share.' It is only a handful of mega-rich, those whose entire incomes are derived from dividends and capital gains, rather than salaries or business profits, who have the ability to pay lower tax rates than some members of the middle class. The left knows this but continues to build their 'freeloading millionaire' straw man because it makes good politics.
Peter Schiff
Gold has intrinsic value. The problem with the dollar is it has no intrinsic value. And if the Federal Reserve is going to spend trillions of them to buy up all these bad mortgages and all other kinds of bad debt, the dollar is going to lose all of its value. Gold will store its value, and you'll always be able to buy more food with your gold.
Peter Schiff
Minimum wage laws make it illegal for a worker to accept a job that pays less, even if the worker needs that job.
Peter Schiff
Once the dollar begins to collapse beneath the weight of all this new deficit spending, accumulation of contingency liabilities and the socialization of our economy, commodity prices and interest rates will head skyward.
Peter Schiff
The primary factor that enables our government to peddle economic snake oil is the dollar's unique role as the world's reserve currency, and our creditors' willingness to preserve its status. By buying up dollars and loaning them back to us through Treasury debt, productive countries give American politicians cart blanche to play Santa Claus.
Peter Schiff
