Peter Schiff's Warning

Gold bug and economist Peter Schiff voiced his concerns regarding the U.S. economy several times this week. Commenting on the Federal Reserve's efforts to curb inflation, he said:

The reality is inflation is not going to weaken. It's going to strengthen. The economy is not only going to weaken, but weaken much more than the markets expect.

"The real cause of inflation is the U.S. government and the Federal Reserve acting in concert with one another, where the U.S. government spends money it doesn't have, and then the Fed prints the money for the government to spend — that is why we have inflation," he explained.