The inflation that is being experienced in the emerging markets is imported from us. I think that their economies that are productive and are producing goods, that would keep prices down, but the problem is that the goods they are producing are being sent to America and we are sending them the paper that we print. And that is really what is driving prices in the emerging world. They are sending us their stuff, and we are sending them our paper. And so they have all this money chasing a diminished supply of goods.
Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.
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