September 5, 2023 | The Biden administration is driving inflation higher by spending money that it doesn’t have.
Chief economist and global strategist at Euro Pacific Capital, Peter Schiff explained in a recent conversation, “All of that government spending is being financed by deficits and that’s really the source of the inflation. And it has been the source of the inflation for many, many years because the Fed has been monetizing all the government debt by creating money. That’s what’s been putting all the upward pressure on prices. So, it’s the government that’s responsible for the inflation. As long as the Biden administration keeps spending money that it doesn’t have, inflation is going to get worse.”
Massive cuts in reckless government spending are needed, especially military spending in Ukraine and other foreign interventions. Reprioritizing spending to uplift the financial security of all Americans is essential.
Peter Schiff: Government Spending Has Bankrupted the U.S. | SchiffGold
Link To Video HERE
Related
Another $2.5 BILLION down the drain to Ukraine
Russia and China are developing a new reserve currency with other BRICS countries
BRICS Expansion Plan to Reshape Global Governance
FTX Scandal Renders Election Illegitimate
Image source
