We are an indebted family going out for an expensive meal to celebrate getting approved foe a new credit card. It might feel good (at the time), but we're still simply delaying the inevitable.
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 SchiffPrinting money is merely taxation in another form. Rather than robbing citizens of their money, government robs their money of its purchasing power.
Peter SchiffThe primary factor that enables our government to peddle economic snake oil is the dollar's unique role as the world's reserve currency, and our creditors' willingness to preserve its status. By buying up dollars and loaning them back to us through Treasury debt, productive countries give American politicians cart blanche to play Santa Claus.
Peter Schiff