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Tag Archives: monetary policy
Translating Yellen-Speak into Golden-Speak
Translating Yellen-Speak into Golden-Speak Given the increasingly politicized interplay (cancer) of central bank policy and so-called free market price discovery, it’s becoming increasingly more important to track the actions of central bankers rather than just traditional market signals alone. Like it or not, the Fed is the market. Toward this end, we’ve had some substantive fun deciphering […]
Is the United States on The Same Calamitous Path as Yugoslavia?
Is the United States on The Same Calamitous Path as Yugoslavia? “Tito, go and make them happy and bring order to the Balkans.” Pic from Propagandopolis Of all the inflationary disasters in modern economic history, Yugoslavia’s is the one most ignored by the mainstream. To be sure, the collapse of the Eastern European nation was a […]
Two Pins Threatening Multiple Asset Bubbles
Two Pins Threatening Multiple Asset Bubbles “Powell Says Fed Policies “Absolutely” Don’t Add To Inequality” -Bloomberg May 2020 The headline above is but one of countless times Fed Chairman Powell and his colleagues confidently said their policies do not result in wealth or income inequality. Their political stature and use of complex economic lingo give […]
Monetary Inflation’s Game of Hide-and-Seek
MONETARY INFLATION’S GAME OF HIDE-AND-SEEK The May 12, 2021, press release from the Bureau of Labor Statistics reporting on the Consumer Price Index (CPI) for the month of April sent the stock markets tumbling for two days and generated fodder for the news pundits with the announcement that the CPI measure of the cost-of-living had increased […]
Peter Schiff and Tucker Carlson: The Financial Crisis Will Be Worse Than the Pandemic
Peter Schiff and Tucker Carlson: The Financial Crisis Will Be Worse Than the Pandemic Consumer Price Index (CPI) data for April came in much hotter than expected. Year-on-year, inflation is up 4.2%. The big number even prompted Federal Reserve Vice Chairman Richard Clarida to say, “We were surprised by higher than expected inflation data.” Peter Schiff appeared on Tucker […]
Karl Marx’s Road to Hell is Paved with Fake Money
Karl Marx’s Road to Hell is Paved with Fake Money “The way to Hell is paved with good intentions,” remarked Karl Marx in Das Kapital. The devious fellow was bemoaning evil capitalists for having the gall to use their own money for the express purpose of making more money. Marx, a rambling busybody, was habitually wrong. The […]
No inflation? Even used car prices are soaring
No inflation? Even used car prices are soaring We’ve reached a point now where anyone who can’t see inflation is clearly not paying attention. Inflation has now become so ridiculous that, according to the Wall Street Journal, even the price of a USED car is increasing… by a lot. Since January 2020, NEW car prices […]
Jim Grant: The Fed Can’t Control Inflation
Jim Grant: The Fed Can’t Control Inflation Federal Reserve Chairman Jerome Powell insists inflation is “transitory.” As prices have spiked throughout the economy, Powell’s messaging has essentially been, “Move along. Nothing to see here.” Peter Schiff has been saying the central bankers at the Fed can’t actually tell the truth about inflation because even if they acknowledge it’s a […]
Weekly Commentary: Generational Turning Point
Weekly Commentary: Generational Turning Point There is an overarching issue I haven’t been able to get off my mind: Are we at the beginning of something new or in the waning days of the previous multi-decade cycle? May 5 – Wall Street Journal (James Mackintosh): “We could be at a generational turning point for finance. […]
Investors Do Not See “Transitory” Inflation
Investors Do Not See “Transitory” Inflation The Federal Reserve and European Central Bank repeat that the recent inflationary spike is “transitory”. The problem is that investors do not buy it. Inflation is always a monetary phenomenon, and this time is not different. What central banks call transitory effects, and the impact of supply chains are not the real drivers […]
Inflation, real interest rates revisited
Inflation, real interest rates revisited Gold prices ticked higher on Tuesday after inflation data showed US consumer prices rose in March for the fourth straight month and inflation hit its highest level in 2.5 years. Gold for June delivery climbed $8.50, or half a percent, to $1,741.20 an ounce, and spot gold at time of […]
Fed and Treasury Steer Their Unsinkable Ship toward Iceberg
Fed and Treasury Steer Their Unsinkable Ship toward Iceberg This past week we got to observe Fed Chair Jerome Powell and the US stock market andthe US bond market do everything I said they would do in their complicated shuffle of ships-and-icebergs: “I’m sure many helium-headed stock investors believe the lilly-livered Fed will turn tail […]
Monetary Policy at a Crossroad: Policymakers Need to Break Promise of Easy Money to Avoid Boom-Bust
Monetary Policy at a Crossroad: Policymakers Need to Break Promise of Easy Money to Avoid Boom-Bust The Federal Reserve’s new policy approach is that policymakers want to see “actual progress, not forecast progress” before deciding to change its policy stance. Substantial actual progress is occurring in the economy, some faster than others. How much monetary […]
Crazy days for money
Crazy days for money This article anticipates the end of the fiat currency regime and argues why its replacement can only be gold and silver, most likely in the form of fiat money turned into gold substitutes. It explains why the current fashion for cryptocurrencies, led by bitcoin, are unsuited as future mediums of exchange, […]
