Gold, Inflation And Famine Seeking Alpha
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A Sober Look At Gold – Seeking Alpha
A Sober Look At Gold Seeking Alpha
Joe Biden has committed more than his share of mistakes and missteps during the first 15 months of his administration. Some, including a new federal spending spree combined with decisions to limit U.S. oil production and to weaponize the U.S. dollar against Russia, are contributing to the surge in price inflation.
These rising prices are great political fodder for his opponents who want to see Democrats get pounded in this year’s midterm elections.
Biden and his handlers certainly deserve some blame. However, today’s price inflation has more to do with the policies rammed through during Biden’s decades serving in the US Senate, than his first year as President.
There are others who cannot be allowed to avoid scrutiny and blame. Biden is just one of hundreds of feckless and irresponsible politicians who spent the last 50 years undermining the U.S. currency.
Decades of unrestrained federal borrowing and spending and policies which hollowed out the U.S. economy have left the Federal Reserve Note vulnerable to rapid depreciation.
While Congress is certainly a key player, the Federal Reserve is the organization most responsible for the predicament we are in today. The banking cartel has been the great enabler for the reckless Congress, acting as the buyer of last resort for vast quantities of Treasury debt.
Fed officials must also be held accountable for engineering an over-financialized US economy which is hopelessly addicted to easy money and ultra-low interest rates. The Fed is the “manufacturing powerhouse” which made dollars into the United States’ leading export.
Yes, decades of reckless monetary policy have consequences.
The Fed is now in an impossible predicament. Central bankers there have one tool, and it isn’t going to work. They can stimulate and throw gasoline on the raging inflation bonfire, or they can tighten and crush the stock market and wreck the federal budget.
The chickens are coming home to roost now.
It is vital for Americans to understand that these central planners played the leading role in the end of the dollar’s hegemony. If the Fed dodges blame, officials there will be trotting out the next disaster for Americans – a central bank digital currency.
Sure, it is perfectly valid to blame Biden for rising prices of late. He is as responsible as anyone.
But the socialists and globalists in the Mariner Eccles building should be held accountable as well. Unfortunately, very few Republicans or Democrats are interested in fundamentally reforming the Fed.
Source: Adrian Day 04/15/2022
Editor of Adrian Day’s Global Analyst, Adrian Day shares his recommendation to sell this stock that is up nearly 60% this year.
At the end of last year, I promised that we would see several sell recommendations in coming months, as part of rationalization in our portfolio and to make room for new buys.
Sell Yamana Gold Inc. (YRI:TSX; AUY:NYSE; YAU:LSE) at a limit of $6.11.
We are selling Yamana while the going is good. The stock is up nearly 60% this year on the back of a positive outlook on growth. We still have a loss however.
If you are underweight gold assets, we have no problem if you wish to hold Yamana, but we think we can now find better opportunities. More next time, but I want to get this out now to allow time to sell today.
I wish all blessings for Easter and Passover.
QUESTIONS? I welcome your investment or economic questions, which I shall attempt to answer here. Please write to globalanalyst@adrianday.com.
Originally published on April 14, 2022.
Adrian Day, London-born and a graduate of the London School of Economics, is editor of Adrian Day’s Global Analyst. His latest book is “Investing in Resources: How to Profit from the Outsized Potential and Avoid the Risks.”
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( Companies Mentioned: YRI:TSX; AUY:NYSE; YAU:LSE,
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If the Fed is fighting inflation and has ended quantitative easing, why is its balance sheet still going up? In the week ending April 13, the balance sheet grew by $27.9 billion, hitting a new record of $8.965 trillion. This is up about $3 billion from its previous high in March. As Peter Schiff put […]
The post If the Fed Is Fighting Inflation Why Is the Balance Sheet Still Expanding? first appeared on SchiffGold.
The Consumer Price Index hit 8.5% on an annualized basis in March, the highest level since 1981. In an attempt to get ahead of what everybody knew would be bad news, the Biden administration started blaming Russia for the big CPI before the data even came out. White House press secretary Jen Psaki said, “We […]
The post Peter Schiff and Megyn Kelly: “Putin’s Price Hike” Is a False Narrative first appeared on SchiffGold.
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