“The Fed has erected this extremely leveraged economy and the reason we all have so much debt is because every time we try to have a recession, the Fed interferes. Instead of having a healing recessions, where debts are paid down and balance sheets are improved, we just keep levering up.”
“They keep saying we need to print more money. What is that going to do? That’s not going to cure the virus. That’s not going to put more products on shelves. All that’s going to is destroy the dollar, which is going to make prices go up,” Schiff says.