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#1156 Peter Schiff On The Fed, Interest Rates, Labor Market, Gold, & Bitcoin
The Pomp Podcast
Lycea Miami, March 4th, Miami Beach Convention Center
I don't think our creditors will put up with 10% inflation that many years in a row, especially when the interest rates are well below that and they're really getting killed. I mean, it is a slow default. That's what it is. It's just a different way of defaulting. You do it through inflation instead of just reducing what you pay. But the impact is the same for the bondholders. Either you get all your money back. But you can't buy as much or you get less money back, but you can actually buy the same. And that's like the government paying off 10 cents on the dollar, 20 cents on thedollar. Prices are going to
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