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The average worker has lost money to inflation twelve times in the last fourteen months.
Unbeknownst to those trembling in fear of a crushing recession, the crushing recession they fear is the only curative for a fatally distorted system which has lost touch with reality.
We got the February CPI data yesterday. There is some bad news in the report and then there is some really bad news. In this episode, SchiffGold Friday Gold Wrap Host Mike Maharrey breaks it all down. He also talks about gold's rollercoaster ride this week in the context of inflation and the Russia-Ukraine situation.
From the Bretton Woods era backed by gold bullion, to Bretton Woods II backed by inside money (Treasuries with un-hedgeable confiscation risks), to Bretton Woods III backed by outside money (gold bullion and other commodities). After this war is over, “money” will never be the same again…
Gold eased on Friday, consolidating at the end of a volatile week as investors sized up potential rate hikes from the U.S. Federal Reserve, but analysts warned an escalation in Ukraine could spur further safe-haven demand. Spot gold was down 0.3% at $1,991.20 per ounce by 1050 GMT, but remained poised for a weekly rise of about 1.2%. U.S. gold futures were down 0.1% at $1,997.70.
A Russian default is no longer “an improbable event,” IMF Managing Director Kristalina Georgieva told reporters Thursday. “It’s not that Russia doesn’t have money, Russia cannot use this money,” she said, adding that unprecedented sanctions against the nation will make it difficult for the country to convert its IMF reserve assets, known as special drawing rights, into currency.
The European Central Bank has broken the automatic link between winding down stimulus and raising interest rates -- meaning it can now take as long as officials deem necessary before lifting borrowing costs from record lows, according to Governing Council member Francois Villeroy de Galhau.
The Fed's Rate Hikes - A Policy Mistake That Won’t Fight Inflation: Steve ForbesMar 11, 2022 - 05:32:43 PST
The problem is that Fed economists continue to misdiagnose the cause of inflation, thinking it’s an expanding economy instead of the debasing of the value of the dollar.
US Money Supply M1/US Official #Gold Reserves Ratio (Mar. 4, 2022) - via http://goldchartsrus.com
#Gold vs US Money Supply (M1, M2, M3) Percentage Growth Since 1970 (Mar. 4, 2022) - via http://goldchartsrus.com
Market participants had seemingly swallowed the Fed propaganda, namely that temporary supply-chain glitches were causing inflation, that it was transitory and wouldn’t require a change in policy. The transitory world changed in a hurry.
Senate Passes Government Funding Bill, Preventing Shutdown and Clearing $14 Billion in Ukraine AidMar 11, 2022 - 05:15:38 PST
The spending bill, once signed by President Biden, will fund the government through September and send humanitarian and military aid to Ukraine.
It's Joe Biden's Inflation, Blames Putin, but His Policies & the Federal Reserve Are at Fault: WSJMar 11, 2022 - 05:11:13 PST
Inflation keeps rising, and working Americans are paying the price in falling real incomes. That’s the bad news from Thursday’s consumer-price index report for February, and the White House can’t blame Vladimir Putin for this one, though it’s trying.
A recessionary storm could be forming off into the distance amid a host of inflationary and geopolitical concerns, warns strategists at Goldman Sachs.
Treasury Secretary Janet Yellen declined to offer a new forecast on inflation for the end of 2022 as she acknowledged that fallout from Russia’s invasion of Ukraine would worsen price rises, which just hit another 40-year high in February.
Weeks before the Russian invasion of Ukraine, I had highlighted data points on the Comex that could be signaling a big move ahead in gold. The invasion may have been the spark to light the fire, but the data showed the groundwork being laid back in January. Silver has now sent up its own flair that may be tied to the largest data adjustment ever seen at the CME in silver.
Stock Futures Rises After Putin Sees 'Positive' Developments in Ukraine TalksMar 11, 2022 - 05:04:03 PST
Stock futures headed for a higher open Friday morning after Russian President Vladimir Putin struck an upbeat tone about diplomatic discussions with Ukraine.
Last month, the US Treasury realized its first surplus in 2.5 years; unfortunately, the surplus was short-lived with the Treasury going in the red by $216.6B during February.
SILVER BULLION SALES SURGE: Premiums Spike & Wait Times For Products Reaching 4-5 WeeksMarch 11, 2022
Investors are buying Silver Bullion at such elevated levels, premiums are spiking higher, while wait times for many products are now reaching 4-5 weeks. I spoke to Dan at Cloud Hard Assets today, and he said that silver was hard to find, pushing investors into smaller fractional official gold coins...
Insider Alert – What moves Mike is making to prepare for a world filled with volatilityMar 10, 2022 - 14:32:39 PST
With all that is happening in the world right now, what is Mike Maloney doing to prepare? Join him in this latest Insiders Action Alert where you’ll discover what moves Mike has made.