Bitcoin Critic Peter Schiff Criticizes Bipartisan Inflation Causes

Peter Schiff, a Bitcoin skeptic and a well-known economist, claims that a good portion of today's inflation can be attributed to the money that was printed to cover the deficits during the Trump presidency.

Bitcoin critic and renowned economist Peter Schiff has expressed his concerns regarding the current high inflation rates in the United States. He claims that a significant portion of today's inflation can be linked to policies implemented prior to Biden's presidency.

Schiff points out that the policy gap between money creation and price acceleration suggests that the worst is yet to come as the effects of Biden's policies are only set to be felt in the coming months.

Schiff, who is known for his skepticism towards Bitcoin, highlighted the role of money printing in driving inflation. He specifically mentioned the deficits incurred during the Trump presidency, which were covered by printing money.

Schiff's remarks come in response to statements made by Larry Kudlow, former Director of the National Economic Council under Trump, who attributed inflation to Biden's fiscal policies. Schiff notes that Kudlow failed to express any concerns about inflation during his time in the Trump administration, which undermines the credibility of his selective criticisms.

According to Schiff, the inflationary pressures being witnessed today are not solely a result of the current administration's fiscal policies but rather a culmination of policies that have been in place for a longer period of time.

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