Same side guys, same side. That being said "I don't care about what the fed looks at, I care about reality " Schiff nailed it. Feds to blame.

Dude bring them back again. I had so much fun watching and listening

David, would have been good to jump in after Peter had made the same point multiple times and give Jim a chance to actually verbalise his thoughts. He basically got to say nothing.

Incredible and enlightening. Like so many of the other comments I would have liked to have seen more of this debate. Bot Jim and Peter have incredibly valid points. PLEASE KitCo, bring Peter and Jim back to expand more on their views

I wish Schiff would have a conversation, instead of a monologue.

I agree with Peter 100% on this. You can see feel the impact of the inflation in day to day life. The government can skew the metrics to make anything seem feasible while they rob you.

Damn I was hoping this vid would be at least 20 mins

Not sure who is right, either way I am buying gold lol

Sometimes I wish shiffy would let others talk. Different opinions can be helpful man

This "debate" is gold

"I don't care about what the Fed looks at. I care about REALITY!". Peter, you're a rock star.

Peter, let Jim speak!!!!

Peter is always looking for a fight !😂 Even with his own gold buddies😂😂

David you need to be a MMA ref between these 2 guys. Peter is very passionate but Jim needs to have time to get his 5 cents in (I mean 6 cents, 7 cents, 8 cents).....

Jim rickards: "there has been no inflation in 7 years" .... dude what?

Bottom line: inflation = loss of purchasing power.

I wish I could have heard both sides of the argument 😔

I agree with Peter. Jim's definition of inflation is fed nonsense. Well done peter!

Peter 'talk over everybody ' Schiff. Would of liked to hear a bit more of Jim's side even though I tend to a agree with Peter.

definition of inflation is expansion of money supply (however not in Keynesian economics)

I like peter but let the man talk peter you alwas talk over people and interrupt

When you have big personalities, sometimes you must actively moderate so that all of your guest can get their point across.

This one is for record books on these two gentlemen. Jim seem to have no appreciation of inflation in asset prices due to 12 years of monetary policy. Its may not be in the CPI, but it certainly is an inflation as a result of money printing.

"I don't care what the fed looks at. I care about reality." Thank you Peter for saying what needs to be said.

Why nobody stopped Peter from barging in, we want to listen to Jim too , he got no chance to talk, why have 2 guests ? Not a good interview.

Peter nailed it!

I think Peter was right.

Peter Schiff is correct on the definition of inflation, and what he needs is a hard philosophical justification. He is tying the definition in with existence, whilst Jim is tying it in with the wishes of economists. The issue with many contemporary intellectuals is here exemplified by Jim Rickards and his lack of a consistent foundation in philosophical metaphysics (the nature of existence) and epistemology (man's means to knowledge). He and others like him just state that the new definition of inflation determined by economists and bankers is correct because..... 'blank-out.' However both cannot be right for that would be a contradiction, one has to be proposing a false representation of reality. Specifically, when it comes to metaphysics, the axiom of the law of causality and the law of identity are being muddled by Rickards and other 'economists'. As Ayn Rand states "since things are what they are, since everything that exists possesses a specific identity, nothing in reality can occur causelessly or by chance." A rise in prices IS as Peter calls it, "an effect." It does not occur in a vacuum and isn't causeless. Something cannot be the cause of itself, for that would be a metaphysical contradiction. Inflation as defined in physics is "the action of inflating something or the condition of being inflated." An appropriate synonym would be for an object of a specific nature to 'expand.' Prices don't expand or inflate in physical reality, they are measurements and they go up and they go down, depending upon what the specific object is priced (measured) against. It is a mathematical ratio, an abstract concept that can not undergo 'inflation.' There is no such thing as an inflation/expansion of prices. Things that exist in a physical quantity, like money, can be inflated or expanded. For money, the concept of inflation can be applied when the supply of it has increased in physical quantity (an expansion of a specific quantity). This is all quite brief, however I hope it gives an idea as to why Peter is actually correct on the concept of inflation.

Bring these guys back on and let them talk for 3 hours.

Not only the price on food at the grocery store goes up, the products also decrease in size. You don’t see the inflation???

Idk what will come first... deflation or high prices. Shiff is correct on the definition of "inflation". Theres no arguing this fact. Inflation is the expansion of the currency supply... higher prices is a symptom of inflation.

I think Peter Schaffer's was a little rude talking over Jim Richards.

I just watched Peter Schiff wipe the floor with Jim Rickards.

Peter 👍

Both smart guys even tough Peter could let Jam speak a little more.

Kudos to Peter Schiff for reminding the true definition of inflation central bankers would have people forget.

Great duo. I like them both

you have to let him respond at some point Schiff...

I am not a Peter Schiff fan, but must admit, wow, he crushed this debate, easily won. Great job Peter 🙌🏻!

Stop saying my grocery bill isn't going up. You don't notice because you're a multi millionaire.

Jim Rickards agreed to the affect of money printing in part 1 "you keep on printing money, you need a higher prices" - his own words. VS. Jim Rickards in part 3. "The definition of inflation is higher prices"

I don't want to date myself, but when I had Econ 101 in the 70's, inflation was an increase in the money supply and rising prices was the result of inflation. You go Peter!

Peter is not taking in account the velocity of money...Jim is pretty right. It is a pain that Peter didn’t let to talk Jim

Basically, to me, Schiff is saying inflation is the cause and Rickards is saying inflation is the effect. I think Kitko could have used the time more effectively.

100 percent agree with peter on the definition of inflation here. Money creation will eventually become higher consumer prices. Watching the manipulated cpi numbers isn't going to tell you where we're headed. Rickards is a genius, but sometimes he spends too much time in his head. He needs to get out and feel what other people are going through at the grocery stores, college tuitions, healthcare, utilities, etc

Peter is right: "Inflation is the Expansion of the Money Supply and prices are the consequence of that."

I really like Peter Schiff and listen to his podcast for quite some time, but please Mr. Schiff, stop cutting off and interrupting Mr. Rickards. He's not an idiot and I feel sorry that he could not get out his point because he was constantly interrupted and finally gave up. Not only did you prevent the audience from getting his point of view, but unfortunately you're presenting yourself as quite rude. I have high respect for both of you, and I feel sad that after the issue with Joe Rogan, Mr. Schiff is repeating the same mistake again. Otherwise, great content, it is highly appreciated!

I like Schiff, but he has to learn how to discuss, it should not be a monologue.

Jesus Schiff, let Rickards respond.

Heavy weight fight. Love it.

Be nice to hear what Jim has to say but Peter doesn’t give a chance...

When titans clash!

Schiff has to argue no matter what or whom.

Point goes to Peter Schiff, he is 100% correct and he explained it (inflation) perfectly. Jim is smart and they both know the economy will go belly up, but Peter is much better at explaining in detail.

Jim is such cool customer. he doesn't get fizzed by Peter. Hahaha, must be his lawyer training.

Should have kept this conversation going! Two intellectual giants were having a great debate.

Peter Schiff was right....episode 237.

Peter should relax a bit, no one is fighting him. LOL.

Even Rickards doesn't know the definition of inflation. Well done, Peter.

could you get Jim Rickards back to REdo this segment without Schiff, so we could hear Jim’s point of view

Jim, again you handled your self professionally and maturely. Your style communicates a message and engages both the listener and the Co-host or speaker. You rarely talk over people and demonstrate a respect for all involved. Your knowledge and insight are not tarnished by abrasiveness or rudeness or generally poor manners. Refreshing. The simple fact that you both remember and use other people’s names is icing on the cake. Thank you.

What was that? Rickards must be playing devils advocate. Schiff has that one, hands down.

Bad interview I respect both individuals I just wish that Peter would have allowed Jim the same amount of speaking time without interruption

Peter is right, prices are going up - in stocks, bonds, gold, fine art and a host of other investment asset classes. Peter is also right about the definition of inflation. It's not Peter who is moving the goal posts, but the Federal Reserve and modern economics, who over time have coyly redefined inflation away from its original meaning of an increase in the money supply. As much as I like and respect Jim Rickards - I've read all his books! - I think Peter has the more cogent analysis here. However, I also believe that eventually even everyday grocery store prices and other common items will register inflation (despite the Fed having heavily gamed those numbers to understate those prices).

Jim’s ties too big government!

Schiff is exactly correct with his definition of inflation.

Kitco news is underrated af,great facilitator

excellent point about inflation causing prices to stay the same instead of going down.

It's a shame that Jim had no opportunity to expand on his point. Thank you for great content anyway!

Awesome kitco. Massive respects

It was a shame to see the 3rd part deteriorate into Peter being Peter, and getting caught up on definitions. They both know what's going on, like we do. And they are both right. Let's just say to Peter's point - Yes, expansion of money supply causes inflation (and central banks are causing that). To Jim's point - Yes, inflation is MEASURED by consumer prices. Both are correct, the hangup on causality (being argued by Peter) is to the detriment of the overall interview. Let's just all have a drink, and recline in our big leather comfy chairs and enjoy this financial holocaust. While we guard our respective piles of silver and gold, like big fat dragons...

I didn’t like how that peter guy handled the debate. He over spoke Jim numerous times and wouldn’t give him a chance to explain himself and took up all the time. Just do a video with Jim next time!!

Great job Kitco. You left us wanting more so go do your job and bring them both back.

Too bad this interview wasn’t longer. Jim what specific prices are flat?

Peter overtaking people as usual, it has become really really annoying Peter.

Two laviathans locking horns over the definition of inflation. WOW! I've been waiting for this for 6 years. Jim argues from a MMT stand point whereas Peter argues from a moralistic fundamental stand point. Its so good to see the clash of worlds. Even with Jim's huge understanding of economics he struggled to rebuff Peter's common sense reasoning. I can almost hear the words of Peter's father instilling this in him from a young age. This must be one of my favourite interviews and it should be used to educate people on inflation. Jim's point on there being no money stimulous, just money printing was also mind blowing. Such simple realisations have such a big impact on my notion of economic manipulation by the powers that be. This interview is gold in itself. Absolute dynamite!

Why could we not hear Jim Richards. I think he is very smart.

Jim got owned!

Excellent debate Peter is 100% correct Money supply expands= inflation Shrink money supply = deflation Very simple

Peter Schiff won't Jim Rickards talk. Some one should unplug Schiff's microphone to let Rickards talk once in a while.

I like watching Rickards and Schiff scrapping it out. We need more of this. Big Rickards fan, but i like Schiff so far too.

Rickards, Schiff, Maloney and Celente, that would be something....

as always Peter was right. Ultimately inflation showed up in CPI.

Poor Jim couldn't get a word in!. Peter is entitled to his opinion, but he was bullying Jim in order to force his opinion. My money is with Jim's macro view.

Jim and Peter are both awesome. I think Jim is right. Peter is hung up on semantics. I think they both see eye to eye though on it. I wish Peter took a less aggressive stance though as more time to to get ideas on the table then. Lots of time wasted on difference of the definition of inflation, losing sight of the real issues, which are the Fed''s money printing.

I am surprised on Jim’s definition of inflation. From what I’ve learned it’s simply an expansion of the money supply. 🤷🏽‍♂️

Both Jim and Peter raise excellent points. I am a great fan of Peter but next time let’s hope he’ll allow Jim to answer more fully.

Schiff says we have inflation, but as a retired Social Security recipient my COLA has averaged 1.5% over the past decade. I agree with Rickards, asset inflation only counts if you own stocks or lots of properties.

Man this interview is like War of Colas :)

Thank you Peter Schiff 👦🏿👍🏿👍🏿.

Peter Schiff is 💯

NOT EVEN THESE 2 BRAINS CAN ARRIVE TO A SIMPLE CONCLUSION OF WHAT INFLATION IS 💁WE ARE DOMED!!!!!

Peter is right on !! Peter for president !!!!

Waiting for part 4,5,6....!! Great video, thanks Kitco!

Please, let Jim talk.

Peter need his own video alone because he doesn't let anyone talk.

1) Shadowstats for real inflation and unemployment, not propaganda. 2) Schiff is talking about monetary inflation, which can be argued _causes_ price changes as a reaction/response.

Japan printed a lot of money , yet no inflation there !

I'll bet Jim is looking up the definition of inflation in a 100 year old dictionary right now .

When is Schiff gunna shut up and let Rickards respond. He is being disrepectful.