Printing money is merely taxation in another form. Rather than robbing citizens of their money, government robs their money of its purchasing power.
Peter SchiffPeople should have an escape valve for their money, their assets. If you have substantial financial assets, the government is going to confiscate the purchasing power of those assets and spend it.
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 government can't create jobs; they'll destroy jobs trying to do it. The government doesn't have any money; all they have is a printing press. We need to free markets to create jobs; if the government wants to help, they should reduce their burden on the economy.
Peter SchiffYes, when they're buying there are more buyers in the market and that's supportive of the price. The more buyers you have, the firmer the price is going to be. When central banks were selling it was a headwind the market had to overcome. Now it's a tailwind that central banks are joining the buyers.
Peter Schiff