Peter Schiff

Because I think I can make a lot more money if the government does the right thing.

Because I know how to...

I would know how to invest.

First of all, I would be short a lot of stuff right now.

If I knew the government was going to do the right thing, I would be shorting a lot of things because prices need to come down.

Doing the right thing means stock prices go down, real estate prices go down.

And so I would be short a lot of this stuff.

So my investment portfolio reflects what I expect the government to do, not what they should do.

But I never advocate, just because I'm going to profit from inflation, I'm not advocating that the government create inflation.

I think that's wrong.

And I think everybody would be better off.

It's not like the rich benefit from inflation.

I think the rich would benefit from a stronger economy where we had sound money.

I think the rich could get even richer.

If I borrowed $100 million to buy $200 million worth of assets, whether it's real estate or stocks, and now the government creates a lot of inflation.

the value of my debt goes down.

The real value of my assets hasn't really changed.

The government doubles the money supply, all else being equal, prices double, my real estate double, my stocks double, but my cost of living doubles.

So I'm not any wealthier.

But where I've made money is the value of my debt has been cut in half.