Peter Schiff makes the case of inflation instead of deflation

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Peter talks with a caller about the possibility that a credit contraction necessarily produces deflation similar to the Great Depression

ok here are alot of links, good reads if you have the time [lol I had the time ]

Not Your Father's Deflation
http://www.safehaven.com/article-9083.htm

Not Your Father's Deflation: Rebuttal
http://globaleconomicanalysis.blogspot.com/2007/12/not-your-fathers-deflation-rebuttal.html

Peter Schiff Replies to Deflation Rebuttal
http://globaleconomicanalysis.blogspot.com/2007/12/peter-schiff-replies-to-deflation.html