The Fed Brought a Knife to an Inflation Gun Fight - Ep 873
The Peter Schiff Show Podcast
00:00
Inflation and Taxation in the 1970s
Inflation is in fact a tax it's the way government finances it's spending if it doesn't have the guts to officially raise taxes it prints money and it raises the cost of living instead. During the 1970s inflation was raising taxes because people's incomes were going up in nominal terms not in real terms that was pushing them into ever higher income tax brackets they called it bracket creep. When investors realize that high inflation is here to stay that's when you're going to see a big re-pricing in the dollar which is lower and gold and silver which will be much higher.
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