Peter Schiff

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.

That's how it can give people something for nothing.

It creates this something with inflation.

But the whole idea that inflation is necessary to have a prosperous economy, right?

What they say is that, well, we have to make sure prices go up.

Because they say if prices went down, nobody would buy anything.

Which is bullshit.

Because-

People buy more when prices go down because, I mean, you can afford it, right?

If you can't afford to buy something, let's say something like the first cell phone that came out.

I think the portable cell phone maybe was $3,000, $4,000, $5,000, but that's when you could buy a car for that amount of money, right?

Only rich people used to buy cell phones.

Why does everybody have a cell phone?

Because they're cheaper now, right?

As the prices went down, more and more people were able to afford them.