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Financial Times/Chris Giles/2-15-2021
“Joe Biden’s strategy for the US economy is the most radical departure from prevailing policies since Ronald Reagan’s free-market reforms 40 years ago. With plans for public borrowing and spending on a scale not seen since the second world war, the administration is undertaking a huge fiscal experiment. The whole world is watching.”
USAGOLD note: What Reagan-Volcer were to runaway inflation (verging on hyperinflation), Biden-Yellen-Powell are to runaway disinflation (verging on deflation). Investors sense the changes Financial Times makes the centerpiece of this “Big Read” and are buying the precious metals to bridge this new, paradigm shift. It’s ‘go big or go home’ and the dollar could become the most direct casualty. (Note the portrait of Franklin Delano Roosevelt in a position of prominence over the fireplace.)
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