Look at employment and wages and you can see Schiff’s point.
It should be obvious that Schiff is right. But then you get people like Krugman stating the opposite, that we should print away. We have some certain advantage in our political stability and military might, it causes other nations and people to invest in the dollar, to hoard dollars, to save dollars. That in some ways prevents the full inflationary impact from hitting. But like Schiff says it is easy to print. Everyone can do it and if they have to they will. That negates the entire scheme since if they have to spend more euros or rubles or yen to buy a dollar they can buy fewer of them. And the cycle continues downward.
Debasing currency destroys savings and helps the profligate. Exactly the opposite of what we try to teach our children - work hard, save. What should we teach them now? Take on as much debt as you can, because in 20 years it will only be 1/3 as much?
I believe that much of what makes economics "complicated" is a result of people's efforts to obscure what's really going on. Unlike matter and energy, wealth can be created and destroyed, but one can still apply some principles of conservation. In particular, if some combination of processes makes some people wealthier, then either the processes must do something which actually generates wealth, or else every dollar one person gets must be matched by a dollar or more that some other person lost. Unfortunately, many people are taken in by measures of imaginary wealth which cannot by any process be converted into things of value.