Peter Schiff

And the way the inflation tax comes into existence is let's say the government collects a dollar in taxes, but they spend a dollar fifty. Where do they get that 50 cents? They didn't get it in taxes. So they have to create it. The Fed creates it or they can borrow it. But now the borrowing is financed by the Fed mostly.

And the way the inflation tax comes into existence is let's say the government collects a dollar in taxes, but they spend a dollar fifty. Where do they get that 50 cents? They didn't get it in taxes. So they have to create it. The Fed creates it or they can borrow it. But now the borrowing is financed by the Fed mostly.

And the way the inflation tax comes into existence is let's say the government collects a dollar in taxes, but they spend a dollar fifty. Where do they get that 50 cents? They didn't get it in taxes. So they have to create it. The Fed creates it or they can borrow it. But now the borrowing is financed by the Fed mostly.

And the way the inflation tax comes into existence is let's say the government collects a dollar in taxes, but they spend a dollar fifty. Where do they get that 50 cents? They didn't get it in taxes. So they have to create it. The Fed creates it or they can borrow it. But now the borrowing is financed by the Fed mostly.

And the way the inflation tax comes into existence is let's say the government collects a dollar in taxes, but they spend a dollar fifty. Where do they get that 50 cents? They didn't get it in taxes. So they have to create it. The Fed creates it or they can borrow it. But now the borrowing is financed by the Fed mostly.

And the way the inflation tax comes into existence is let's say the government collects a dollar in taxes, but they spend a dollar fifty. Where do they get that 50 cents? They didn't get it in taxes. So they have to create it. The Fed creates it or they can borrow it. But now the borrowing is financed by the Fed mostly.

And the way the inflation tax comes into existence is let's say the government collects a dollar in taxes, but they spend a dollar fifty. Where do they get that 50 cents? They didn't get it in taxes. So they have to create it. The Fed creates it or they can borrow it. But now the borrowing is financed by the Fed mostly.

And the way the inflation tax comes into existence is let's say the government collects a dollar in taxes, but they spend a dollar fifty. Where do they get that 50 cents? They didn't get it in taxes. So they have to create it. The Fed creates it or they can borrow it. But now the borrowing is financed by the Fed mostly.

And the way the inflation tax comes into existence is let's say the government collects a dollar in taxes, but they spend a dollar fifty. Where do they get that 50 cents? They didn't get it in taxes. So they have to create it. The Fed creates it or they can borrow it. But now the borrowing is financed by the Fed mostly.

And the way the inflation tax comes into existence is let's say the government collects a dollar in taxes, but they spend a dollar fifty. Where do they get that 50 cents? They didn't get it in taxes. So they have to create it. The Fed creates it or they can borrow it. But now the borrowing is financed by the Fed mostly.

So the government creates that extra 50 cents and they spend it in the circulation. And now the people that get that money go out and spend it. And that bids up prices. And so the increase in price is the tax. So instead of the government taking your money honestly, they take it dishonestly through inflation by taking your purchasing power.

So the government creates that extra 50 cents and they spend it in the circulation. And now the people that get that money go out and spend it. And that bids up prices. And so the increase in price is the tax. So instead of the government taking your money honestly, they take it dishonestly through inflation by taking your purchasing power.

So the government creates that extra 50 cents and they spend it in the circulation. And now the people that get that money go out and spend it. And that bids up prices. And so the increase in price is the tax. So instead of the government taking your money honestly, they take it dishonestly through inflation by taking your purchasing power.

So the government creates that extra 50 cents and they spend it in the circulation. And now the people that get that money go out and spend it. And that bids up prices. And so the increase in price is the tax. So instead of the government taking your money honestly, they take it dishonestly through inflation by taking your purchasing power.

So the government creates that extra 50 cents and they spend it in the circulation. And now the people that get that money go out and spend it. And that bids up prices. And so the increase in price is the tax. So instead of the government taking your money honestly, they take it dishonestly through inflation by taking your purchasing power.

So the government creates that extra 50 cents and they spend it in the circulation. And now the people that get that money go out and spend it. And that bids up prices. And so the increase in price is the tax. So instead of the government taking your money honestly, they take it dishonestly through inflation by taking your purchasing power.

So the government creates that extra 50 cents and they spend it in the circulation. And now the people that get that money go out and spend it. And that bids up prices. And so the increase in price is the tax. So instead of the government taking your money honestly, they take it dishonestly through inflation by taking your purchasing power.

So the government creates that extra 50 cents and they spend it in the circulation. And now the people that get that money go out and spend it. And that bids up prices. And so the increase in price is the tax. So instead of the government taking your money honestly, they take it dishonestly through inflation by taking your purchasing power.

So the government creates that extra 50 cents and they spend it in the circulation. And now the people that get that money go out and spend it. And that bids up prices. And so the increase in price is the tax. So instead of the government taking your money honestly, they take it dishonestly through inflation by taking your purchasing power.

So the government creates that extra 50 cents and they spend it in the circulation. And now the people that get that money go out and spend it. And that bids up prices. And so the increase in price is the tax. So instead of the government taking your money honestly, they take it dishonestly through inflation by taking your purchasing power.