Once the government runs out of foreign and private sector bidders for new Treasurys, the Federal Reserve will be the only buyer, and the hyper-inflation cat will be completely out of the bag.
Peter SchiffOnce the dollar begins to collapse beneath the weight of all this new deficit spending, accumulation of contingency liabilities and the socialization of our economy, commodity prices and interest rates will head skyward.
Peter SchiffThe fiat-based system has produced enormous global imbalances that are straining the global economy. Ultimately, I think the whole thing gives way and what returns is what existed prior to the dollar standard, and that is a global gold standard, which is the only thing that really works.
Peter Schiff