Pretty much everybody believes this is the only choice given the economic emergency we face. But we're told once the emergency is over, the Fed will take the excesses away. In his podcast, Peter Schiff explains why this will never happen. Once the drug addict is hooked, you can't just take the drug away.

Peter started the podcast saying he thinks the bear market relief rally is coming to an end.

The Fed can only buy so much with its QE and rate cuts."

The stock market rally in April created a lot of optimism about the economy. The prevailing mindset was "if we can turn it off, we can turn it back on."

Peter said now that the fog is starting to lift a bit, people are starting to realize that narrative wasn't true and that this is going to be a much deeper and protracted recession.

But people still don't realize just how weak the economy was before the coronavirus pandemic. Now the government and the Federal Reserve are engaging in the same policies that undermined the economy in the first place.

Pundits and analysts keep talking about how the Fed is "injecting liquidity into the economy." That translates to inflation. The Fed is creating money out of thin air and spending it into circulation.