Peter Schiff Explains The Inflation Tax & Gov. Spending Raises Your Costs Of Living
“”The fed decided to print a bunch of money and mail it out to people who were no longer working. And in fact many of the people who got money from the government got more money from the government for not working than they used to earn when they still had jobs. SO we decreased the supply of goods and services to buy while simultaneously increasing the amount of money in circulation to buy them, and so its a perfect storm for prices… and you have to remember, every time the government spends money, its a tax. Whether they want to acknowledge it as a tax or not – the cost of government is what it spends – not what it collects in taxes – what it spends. So every dollar of federal spending has to be paid for and the way you pay for the spending that is financed when the fed prints money .. We pay for that with higher prices. So what you’re really experiencing every time you go and buy something and the price is much higher than what you remember, that increase is really a tax. That is what all the government spending is costing you, it’s costing those higher prices. And since government spending is going way up from here, the inflation tax to pay for it is also going to go up.””
I’ve always had much respect for Peter Schiff, whose been a stalwart and consistent defender of financial freedom (and with it, sovereign independence for We The People) despite his own father being jailed and dying in prison (after much mistreatment) when the IRS Gestapo threw him in prison for warning people about the alleged fraudulent nature of the tax code as its being applied on citizens.
He’s a true voice for truth in this space, and when he speaks – it’s important to remember this man is a 1%er, a second generation gold merchant – He does not have to risk making enemies to speak truth to power so passionately.
Peter Schiff recently appeared on the Matt Walsh podcast. During the interview, he broke down exactly how the Federal Reserve and the US government work together to steal from you with an inflation tax.
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