Peter Schiff

So they don't understand.

But the government wants to create inflation.

They create inflation.

And so-

Quantitative easing, which was the term they introduced after the 2008 financial crisis, that's just a euphemism for inflation.

What is quantitative easing?

The Federal Reserve prints money and buys government debt, monetizing debt.

That's pure inflation.

They don't like to call inflation inflation because the public doesn't like inflation, so they called it quantitative easing.

But

We created a lot of inflation following the 2008 financial crisis.

And a lot of that inflation ended up going into financial assets.

But if it wasn't for all the inflation the government created, prices would have come down following the 2008 financial crisis.

Well, stocks.

So the money.

So we create money.

We create credit.

But where does it go, right?

And if it goes into the stock market, if it goes into the real estate market, it's bidding up those asset prices, right?

And so a lot of- No one wants to hold dollars like you want to put it into something.