Peter Schiff and Tucker Carlson Discuss the Worst Inflation in US History
In November, the official government CPI rose by the highest annual amount since 1982. But for the most part, the mainstream media continues to sugar-coat inflation. Tucker Carlson is an exception. He’s one mainstream media figure who seems to grasp the full extent of the problem. He recently interviewed Peter Schiff on the rising cost of living.
Carlson opened up the interview pointing out that it’s very obvious the inflation rate is not 7%. It’s much higher than that and it costs more than 7% more to live in the US than it did last year. Why is this not front-page news everywhere?
Peter said it’s because the government, Wall Street and the Federal Reserve all have a vested interest in keeping the public from understanding how bad inflation is.
In fact, one of the ways the Fed has been able to justify creating more inflation is because they claimed we didn’t have enough of it. But the only reason we didn’t have enough of it is because they were relying on their own highly rigged CPI.”
As Peter pointed out, the CPI wasn’t always this dishonest. The government changed the CPI calculation in the 1990s in order to understate the actual cost of living.
When they compare our inflation rates to the inflation of the 1970s, we’re not using the same CPI that we used then.”
The annualized rate of inflation in 2021 based on the CPI stands at 7.3%.
If we were using the same CPI we used in 1982, the rate would be closer to 15%, which means it’s the worst year in inflation in US history.”
The previous high water mark for inflation was 13.5% in 1980.
Carlson raises another poignant question. Why isn’t anybody punished for this “crime?” How is it that the people who destroy the US dollar seem to be getting away with it?
In fact, they often get rewarded as Peter pointed out. Jerome Powell just got nominated for a second term as Fed chair, “as if he did such a great job on his first term.”
This is the only way the government can finance all the spending. You have the Democrats now promising all sorts of stuff for nothing. We’re going to get free preschool. Everybody is going to get paid family medical leave. And no one’s going to have to pay for it. Nobody’s taxes are going up. We’re paying for it through inflation because the money to pay for all this government is being printed into existence and then it’s spent into circulation. And as it’s spent into circulation, it’s driving up prices.”
In fact, productivity is collapsing. We just got the worst productivity numbers in 62 years.
Our economy is imploding. It is a mess. We just can’t see it because we’re blinded by all the inflation.”
Tucker asked the next logical question: how long until the world completely loses faith in the US dollar and it is no longer the world’s reserve currency?
People still have confidence in the dollar and the Federal Reserve. I don’t know why. They’ve gotten so many things wrong. … But eventually the world is going to leave the US dollar. The dollar is going to collapse. Money is going to flow into other currencies. It’s going to flow into real money — gold and silver. It’s going to go into real assets — stocks, real estate — mostly outside the United States. Because we’re going to be the epicenter of a coming currency crisis and sovereign debt crisis that’s going to make the financial crisis of 2008 look like a Sunday school picnic.”
As Carlson said, this is bigger than coronavirus or pronouns. So, why is most everybody ignoring it?