The are many critics of central banks and the Fed in particular, and economist and investor Peter Schiff might just be the biggest of them all. Among his many critiques, his one regarding inflation targeting seems to make sense. After all, why would the entity that has a mandate for price stability actively look to devalue their currency by 2 percent a year? Shouldn't price stability mean 0 percent inflation? However, looking deeper into the situation, reasons for targeting inflation begin to emerge. Today's debt-based economic system means that debt and the supply of money and credit must continuously expand in order for debts to be repaid and to avoid the dreaded debt-death spiral. However, there are obvious drawbacks to inflation targeting, which this video also goes into. Additionally, with debt levels across all sectors being as high as it is, it looks like we will fail the 2 percent inflation goal. Much like how currencies renege on their gold backing and are devalued against gold, it looks like today's currencies will be devalued against goods and services. Watch my video on Luke Gromen's Sovereign Debt Crisis Prediction here: https://www.youtube.com/watch?v=V6RTcxZI7rk Sources: The Fed’s inflation target comes from a casual remark on New Zealand TV: https://qz.com/2022696/where-did-the-feds-2-percent-inflation-target-come-from/ Federal Reserve Economic Data | FRED https://fred.stlouisfed.org/series/TCMDO https://fred.stlouisfed.org/graph/?g=WRM Peter Schiff Speech: https://www.youtube.com/watch?v=l96LlUtrAGg&