Financial Guru, Tucker Carlson Discuss What Really Is Causing Americans To Be Shackled By High Prices

Investor Peter Schiff told 🏢Daily Caller News Foundation co-founder Tucker Carlson on Monday that the amount of money printed by the government has caused Americans to suffer from inflation.

During an appearance on “The Tucker Carlson Show,” Schiff blamed inflation on the government for expanding credit and the money supply, stating that it is “obvious” that the Federal Reserve is causing rising prices. He argued that prices began to surge under President Donald Trump’s first term and continued to escalate under former President Joe Biden due to the massive spending during the COVID pandemic and other massive spending packages, such as the Inflation Reduction Act.

“The real reason for getting out of the dollar is we’re going to destroy its value. We have these runaway deficit spending that is the source of all the inflation that we have. It’s the Fed monetizing the debt that the government is creating,” Schiff said. “A lot of people don’t know what inflation is. They just think it’s prices going up because that’s what the governments tell them or some economists tell them. But prices going up are a consequences of inflation. They’re not inflation. Inflation is an expansion of the supply of money and credit. And when you expand money, you expand credit, that bids up prices.”

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Schiff said the government needs inflation to raise revenue and pay off its debts, adding that they make up all sorts of reasons why inflation is a necessity. He told Carlson that the Federal Reserve’s rationale is that inflation is needed because people will not buy if prices get too low, which Carlson called “deranged.”