Peter Schiff: Inflation Bottomed Out at 6 Percent, ‘It’s Going Up from Here’

EXCERPT:

SCHIFF: "You know, the Fed just increased its balance sheet by $300 billion, it's back to quantitative easing -- even though it hasn’t officially admitted it, is clearly doing it -- it’s buying government bonds and mortgage-backed securities and printing the money to pay for it. That’s exactly what it did when it was doing. QE, except the Fed had a two-pronged war against inflation, rate hikes and quantitative tightening. Well, it’s not only given up quantitative tightening, it’s doing quantitative easing aggressively, so it has gone back to creating inflation. It doesn’t even matter if they hike rates at this point, they probably won’t, but inflation bottomed out at 6%, it's going up from here. We’ve just begun a new easing cycle when inflation is more than triple the Fed's so-called target. That’s why gold was up 60 bucks today, 100 bucks on the week. I think next week it’s going to have an even bigger move."