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Despite talk about a war on inflation and a quantitative easing taper, the money supply continues to expand at a rapid clip, fanning the inflationary fire. M2 increased by $249.2B in November.
President Joe Biden’s “build back better” spending bill seems to be dead — at least for the time being. But there is still plenty of spending coming down the pike. This raises an important question: how is the Federal Reserve going to simultaneously taper its bond-buying program and monetize all of this debt? On Monday, […]
I’ve got good news and bad news. The good news is you probably put a little more money in your pocket in November. The bad news is inflation ate up all your income gains and then some. Real personal incomes fell 0.2% in November despite a healthy gain in nominal income.
While the Federal Reserve talks about tightening monetary policy, the Chinese central bank is heading in the opposite direction. This could boost gold demand in that country even further. Earlier this month, the People’s Bank of China announced a 0.5% cut in financial institutions’ required reserve ratio (RRR). According to the World Gold Council, this move […]
The Federal Reserve has supposedly gone to war with inflation and Fed chair Jerome Powell has allegedly turned into a hawk. We’ll believe it when we see it.
I hope everybody had a great Christmas and found everything they wanted under their Christmas tree. In the spirit of the season, I want to tell you about a Christmas present James Madison gave the United States way back in 1798. It is a bit of history that has fallen down the Orwellian memory hole. […]
Gold closed out the week before Christmas above $1,800 an ounce, despite rising bond yields. The $1,800 level has been viewed as a ceiling for the price of gold. In his podcast, Peter Schiff said people need to start thinking of $1,800 as a floor. And he said they will once they realize there is […]
Silver delivery in December surged to levels not seen since last spring and reversed the downward trend in place since last summer. This analysis focuses on gold and silver physical delivery on the Comex. See the article What is the Comex for more detail.
With the “transitory” inflation narrative dead and buried, the powers that be have shifted to a new tactic to deflect their responsibility for rising prices – blame somebody else. Elizabeth Warren recently claimed that rising prices were due to “price gouging” by “greedy” corporations. But the evidence says otherwise. In fact, producer prices have risen […]
Are we heading toward a Fed policy that fixes inflation at a permanent rate of five to six percent? We could be. But inflation is a policy that cannot last.
