Peter Schiff joined us today. His article today berates the Fed for their goal of achieving to 2 percent annual inflation. Since when did inflation or the loss of purchasing power become a laudable goal? Deflation or the increase in the dollar’s purchasing power is what the Fed should be aiming for. When productivity goes up so does the standard of living.
On bitcoin Peter believes that it won’t end well. He’s sees no inherent value in the cryto-currency. Now that its value has been going down, Peter thinks that the public’s appetite for the currency will diminish and as will its value.
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