Peter Schiff: Buy Gold and Don’t Trust the Fed

“The only reason the government was able to get a GDP number as large as 1.7 is because they assumed inflation was 0.7% on an annualized basis… I don’t believe that for one minute. I believe inflation is much higher than that and if the government used an accurate GDP deflator, we would already see that the US economy is currently in a recession… The Fed knows it’s going to increase QE, but it can’t come out and say that… Because it doesn’t want the world to know just how weak the US economy is and how dependent it is on ever increasing doses of monetary heroin.”