Peter Schiff explains: Deflation vs Inflation

Peter Schiff : "Right now the government is telling us that deflation is the problem; is the threat" "...and we need to create inflation. And as the signs of that inflation become more obvious at first the government is going to claim victory, Ah ha we won!" "...and then inflation is going to start to get much worse than they are comfortable with" "The money is coming into existence based on debt, based on government spending . When government spends money it doesn't have it's going into debt; when we spend money we don't have, our money supply grows and grows the deeper in to debt we go"

"and they are going to try to figure out why are prices rising. Especially when so many people will still be unemployed?! They are going to say this is impossible, how can we have 12% unemployment yet 10% inflation? And they are not going to connect the dots between their monetary policy and why prices are rising so rapidly"