HOW GOVERNMENT-CREATED INFLATION BECAME POLICY - By Peter Schiff

by Peter Schiff :

The process of dumbing people down so they’ll buy official figures showing inflation “under control” at levels of 1 to 2 percent or so (when it is actually more like 8 to 9 percent) is actually a fairly recent development. Back in the early 1970s, the market basket of consumer prices tracked by the CPI, although not a perfect indicator, was at least relied on by the government itself as a guide. We were still on the gold standard, meaning the money supply had to be managed conservatively. When inflation then
reached 4 percent, it was considered a serious enough problem to warrant wage and price controls, a misguided policy to be sure, but at least a recognition that a problem existed.Today real inflation is much higher and we’re told it’s virtually nonexistent.
The Ford administration was the first to face real problems with government-created inflation, and its strategy, inspired by a young Alan Greenspan serving then as chairman of the Council of Economic Advisors, was to blame the inflation problem on the public. Remember the WIN buttons, standing for “Whip Inflation Now”? As though individual businesspersons could beat inflation by simply refraining from raising prices.
Peter Schiff in his book ' Crash Proof how to profit from the coming economic collapse'
Peter David Schiff, president of Euro-Pacific Capital, is a Connecticut-based brokerage firm have correctly predicted the U.S. stock-market collapse , the home mortgage meltdown and the credit crunch .
Peter Schiff discusses politics, world economies, and investment strategies and is now running for a Senate Seat in his native Connecticut , Peter Schiff is Author of the Best Seller Crash Proof How to Profit From the Coming Economic Collapse

Peter Schiff Moodys Downgrade: Should We Care? MSNBC 15 Mar 2010

Peter Schiff on Peter Schiff on Power Lunch. MSNBC 15 Mar 2010

"who cares what Moody's says , they got it wrong in the past and they are wrong now " says Peter Schiff "if you think about US treasury debt , think junk bonds , think subprime mortgages , there is no way we could possibly pay this money back , there are only two things we could possibly do , we could default legitimately or we can do it through inflation , one way or the other the creditors are going to lose a lot of money , loaning money to the United States Treasury ...and unfortunately the more money the government borrows now the worse our economy becomes , because they are using that money to undermine our economy " Peter Schiff explained

Peter Schiff : The creditors should not walk away with 100 cents to a dollar after all they were dumb enough to lend us the money in the first place

Peter Schiff on State Bailouts and the National Debt North Haven

The creditors should not walk away with one hundred cents to a dollar , after all they were dumb enough to lend us the money in the first place , they should have known that we could not pay it back , we have to have shared sacrifices Peter Schiff explains , we need to restructure our debt and to ask the people who are holding our debt to take a haircut on that debt , "I do not think we should pay nothing , but I do not think we should pay a hundred cent on a dollar in real money " Peter Schiff says "and I think our creditors will actually prefer that than to get paid paid a hundred cent on a dollar but in worthless money "

Republican candidate for US Senator in Connecticut, Peter Schiff, attended a Tea Party meeting in North Haven, CT. where he was peppered with all sorts of questions. The Connecticut Tea Party folk thoroughly vetted Schiff on Saturday, March 6, 2010. All the while, he kept his composure, his focus and his sense of humor.

Peter David Schiff, president of Euro-Pacific Capital, is a Connecticut-based brokerage firm have correctly predicted the U.S. stock-market collapse , the home mortgage meltdown and the credit crunch .
Peter Schiff discusses politics, world economies, and investment strategies and is now running for a Senate Seat in his native Connecticut , Peter Schiff is Author of the Best Seller Crash Proof How to Profit From the Coming Economic Collapse