Peter Schiff: Inflation is not the Holy Grail of economics - Video

In a recent interview with Fox News, CEO of Euro Pacific Capital Peter Schiff, an advocate of QE, is giving his analysis on what is the real reason behind the Fed's reluctance to increase interest rates.

Although the Fed claimed its current policy is directed toward deflating bubbles, Schiff argues the today's bubble is too big to pop. Popping it would spur another financial crisis, even worse than in 2008. 

Meanwhile, every central bank is in a panic to slash rates to put inflation back on track. But Schiff wonders: is inflation the Holy Grail of economics?

Countries are better off and consumers are better off if the cost of living goes down, if the things that you won't need are less expensive, you're better off. Demand increases when prices go down, it's not the other way around, he says...