Peter Schiff

Because inflation benefits debtors and hurts creditors.

And a lot of rich people are creditors.

If you think about it, who is the biggest debtor in the world?

The U.S.

government, right?

We're probably the biggest denner in the universe, right?

I mean, I don't know if there's life on any other planets, but I'm sure the U.S.

government is more in debt than any government on any planet in the universe.

That'd be my guess.

So the U.S.

government creates inflation because it benefits the U.S.

government to have inflation.

Yeah, I mean, there is a huge divide now, I think, the gap between the richest and the poorest.

I think that's been exacerbated.

by the monetary and fiscal policies.

I think the distribution that we have now is not as... It would be better if we had...

not equitable, but we had a distribution that wasn't skewed and it wouldn't be.

And your point that you made about how the government keeps trying to convince us that we need inflation.

That was all government propaganda because the government needs inflation because that's how it diminishes its debts.

That's how it plays Santa Claus.