Peter Schiff on the Inflation vs Deflation Debate

Peter Schiff :" "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"
the inflation of currency is a big problem. But governments can't print food. It is the weather - once you start growing food you will realize how much a freeze or drought can impact you. And basically we have figured out how to eat oil - and if the price of oil goes up, so will food. I take peak oil seriously. Who can say if oil is in shortage Inflation, particularly food price inflation is becoming a concern for ordinary Americans and people all over the world. Inflation is here, and the first place that you would expect to see it is in commodities. When the Fed prints money in order to buy treasuries, it expands the money supply and causes inflation.