{"id":59694,"date":"2021-10-05T19:14:40","date_gmt":"2021-10-06T00:14:40","guid":{"rendered":"https:\/\/olduvai.ca\/?p=59694"},"modified":"2021-10-05T19:14:40","modified_gmt":"2021-10-06T00:14:40","slug":"peter-schiff-government-serves-grade-a-b-s-on-inflation","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=59694","title":{"rendered":"Peter Schiff: Government Serves Grade-A B.S. on Inflation"},"content":{"rendered":"<h3><a href=\"https:\/\/schiffgold.com\/videos\/peter-schiff-government-serves-grade-a-bs-on-inflation\/\">Peter Schiff: Government Serves Grade-A B.S. on Inflation<\/a><\/h3>\n<div class=\"blog-big-photo\"><a class=\"prettyphoto\" title=\"Peter Schiff: Government Serves Grade-A B.S. on Inflation\" href=\"https:\/\/schiffgold.com\/wp-content\/uploads\/2021\/10\/up-arrow.jpg\" rel=\"prettyPhoto\"><img decoding=\"async\" class=\"blog-featured-big-photo lazyloaded\" src=\"https:\/\/schiffgold.com\/wp-content\/uploads\/2021\/10\/up-arrow-1024x576.jpg\" alt=\"\" width=\"100%\" data-src=\"https:\/\/schiffgold.com\/wp-content\/uploads\/2021\/10\/up-arrow-1024x576.jpg\" \/><\/a><\/div>\n<div class=\"blog-info-bar-details\"><span class=\"post-date\">OCTOBER 5, 2021<\/span>\u00a0\u00a0BY\u00a0<a title=\"Posts by SchiffGold\" href=\"https:\/\/schiffgold.com\/author\/schiffgold\/\" rel=\"author\">SCHIFFGOLD<\/a>\u00a0\u00a0<span class=\"icon-comment\">\u00a0<\/span>0\u00a0\u00a0<span id=\"29808\" class=\"icon-heart\">\u00a0<\/span>0<\/div>\n<p>Both the Federal Reserve and the Biden administration continue to insist inflation is transitory. And they are also trying to shift the blame for rising prices so they avoid any responsibility. In this clip from his podcast, Peter Schiff explains why the government inflation narrative is Grade-A B.S.!<span id=\"more-29808\"><\/span><\/p>\n<p><iframe loading=\"lazy\" title=\"White House Serves Grade A B.S. On Inflation\" width=\"600\" height=\"338\" src=\"https:\/\/www.youtube.com\/embed\/Ojnr1qN4BXo?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<p>The Fed has finally acknowledged that inflation is running hotter than they\u2019d expected. During\u00a0<a href=\"https:\/\/schiffgold.com\/peters-podcast\/peter-schiff-the-fed-that-cried-taper\/\">the September FOMC meeting<\/a>, the central bank raised its forecast, anticipating core inflation to increase 3.7% this year. That compares with a 3% projection in June. But the Fed and US government officials insist that rising prices are simply a function of supply chain issues and that it will be \u201ctransitory.\u201d<\/p>\n<p>Meanwhile, they ignore the elephant in the room \u2013 the increasing money supply. The central bank created new money at a record pace in response to the economic chaos caused by government shutdowns for COVID-19. And while money creation has slowed in recent months, it continues at a very high pace. Last month,\u00a0<a href=\"https:\/\/schiffgold.com\/exploring-finance\/m2-grows-at-fastest-pace-since-february\/\">M2 grew at the fastest rate since February<\/a>.<\/p>\n<blockquote><p>If inflation is always and everywhere a monetary phenomenon, and you have this record increase in money supply, and then you also have this big increase in consumer prices, how can you not bring up the possibility that all of this money printing is potentially responsible for prices going up?\u201d<\/p><\/blockquote>\n<p>But the central bankers continue to focus solely on the supply chain.<\/p>\n<p>Peter suggested the money printing could account for the supply chain problems.<\/p>\n<blockquote><p>Whenever there is a surplus of money, there is automatically a shortage of stuff, because the government can print money very easily&#8230;<\/p><\/blockquote>\n<p>\u2026click on the above link to read the rest of the article\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Peter Schiff: Government Serves Grade-A B.S. on Inflation OCTOBER 5, 2021\u00a0\u00a0BY\u00a0SCHIFFGOLD\u00a0\u00a0\u00a00\u00a0\u00a0\u00a00 Both the Federal Reserve and the Biden administration continue to insist inflation is transitory. And they are also trying to shift the blame for rising prices so they avoid any responsibility. In this clip from his podcast, Peter Schiff explains why the government inflation [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[124,303,379,426,963,18779,3650,31906],"class_list":["post-59694","post","type-post","status-publish","format-standard","hentry","category-economics","tag-central-banks","tag-fed","tag-government","tag-inflation","tag-peter-schiff","tag-schiffgold","tag-us-federal-reserve","tag-us-whiite-house"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/59694","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=59694"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/59694\/revisions"}],"predecessor-version":[{"id":59695,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/59694\/revisions\/59695"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=59694"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=59694"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=59694"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}