Peter Schiff: The Federal Reserve is Trapped – Bankrupt Gov’t or People

The Federal Reserve is trapping itself, raising interest rates to bankrupt the Treasury, but it should not raise rates to let inflation spiral out of control and bankrupt the American people, says Peter Schiff, chief market strategist at Euro Pacific Asset Management. The answer is that the Federal Reserve doesn’t.

The Federal Reserve, the central bank of the United States, is fighting inflation, which is ruining the public. “I don’t think the Fed is fighting inflation because it can’t fight inflation, and that means it’s going to bankrupt the public and destroy the value of the dollar,” Schiff said.

Schiff said that despite the inevitable fall in the US dollar, there were investment opportunities in emerging markets. “I like New Zealand, Hong Kong, Singapore, Switzerland, countries that are much freer than the US. I see less regulation and more economic freedom. I try to look at countries in general that are more responsible than the United States, and I like countries that have lower taxes, lower government spending, balanced budgets where you have trade surpluses, not deficits, “he said.

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