Tuesday , April 13 2021
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Tag Archives: Monetary Policy

Why are economists losing prestige?

Ezra Klein sees the Biden administration as downgrading the role of economists: Biden has less trust in economists, and so does everyone else. Obama’s constant frustration was that politicians didn’t understand economics. Biden’s constant frustration is that economists don’t understand politics. Multiple economists, both inside and outside the Biden administration, told me that this is an administration in which economists and financiers are simply far less...

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When Doves Cry: SchiffGold Friday Gold Wrap April 9, 2021

Gold hit its highest price in five weeks after the release of the March Federal Reserve meeting minutes and comments by Jerome Powell both reiterated the central bank’s dovish position. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey talks about the Fed’s dovish cry and how this could play out. He also discusses a strange dichotomy in the unemployment numbers.The SchiffGold Friday Gold Wrap podcast combines a succinct summary of the week’s precious metals news coupled...

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The Mainstream Is Wrong About Rising Bond Yields and Gold

Prices are going up. The Federal Reserve is printing money at an unprecedented rate. The US government continues to borrow and spend at a torrid pace. As Peter Schiff put it in a recent podcast, we’re adrift in a sea of inflation. Gold is supposed to be an inflation hedge. So, why isn’t the price of gold climbing right now?In a nutshell, rising bond yields have created significant headwinds for gold. And the mainstream is reading rising yields and their relationship to gold all wrong. It...

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Peter Schiff With Tucker Carlson: Inflation Is a Painful Tax

We’re told inflation isn’t a problem. But a quick trip out to the grocery store or to fill up your car with gas tells you otherwise. Prices are going up. Peter Schiff recently appeared on Tucker Carlson’s show to talk about inflation. He said the price of everything is going up and the value of everything is going down.It’s clear that prices are rising. Peter said it’s going to get even worse.You have to remember that inflation really is nothing more than a tax. Now, when the government...

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Opportunities Lost: SchiffGold Friday Gold Wrap April 2, 2021

Joe Biden unveiled his massive infrastructure spending plan complete with tax increases this week. The president says it will create “opportunities.” But what about the opportunities that will never be realized because Biden and company went on a spending spree with our money? Host Mike Maharrey talks about it in this week’s Friday Gold Wrap podcast, along with the latest precious metals and Fed news.The SchiffGold Friday Gold Wrap podcast combines a succinct summary of the week’s...

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Some Non-Covid Links

My intrepid Mercatus Center colleague Veronique de Rugy is rightly appalled by the blatant lies told by Biden. Eric Boehm reports on yet another of the many reasons already revealed for ditching the hope that Biden will govern from the center. And here’s the Wall Street Journal‘s Editorial Board on the same general topic. A slice: Sens. Elizabeth Warren and Bernie Sanders lost the Democratic presidential nomination, but you wouldn’t know from President Biden’s first two months in office....

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US Money Supply Growth Set Another Record in February

US money supply growth hit another all-time high in February as the Federal Reserve continues to churn out dollars and inject them into the economy.As measured by the True Money Supply Measure (TMS), the money supply grew by 39.1% year-on-year. That was up slightly from January’s record growth of 38.7%. To put the growth in money supply into some historic perspective, the rate in February 2020 was a mere 7.3%, which was a healthy increase from the under 2% growth we were seeing in...

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Is Basic Economics Wrong? Or Is Something Else Going on With Inflation?

We have been saying that given the extraordinary level of money printing the Fed has done since the beginning of the pandemic, a wave of price inflation is coming down the pike – perhaps even hyperinflation. But many will be quick to remind us that we raised the warning flag about inflation when the Fed launched three rounds of quantitative easing in the wake of the 2008 financial crisis. In fact, Paul Krugman has been doing victory laps again – reminding everybody that the inflation...

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Peter Schiff: The One Promise the Fed Is Going to Keep

Since the beginning of the pandemic, government debt and money printing are off the chart. This is creating inflationary pressure. Prices are on the rise. And this is by design. In fact, the Fed has been promising more inflation for years. As Peter Schiff explains, it looks like this is one promise the Fed is going to keep. The US government blew up the national debt by over $5 trillion in just 18 months. To support all of his borrowing and spending, the Fed turned the printing press up...

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At Some Point You Gotta Pay the Piper: SchiffGold Friday Gold Wrap March 26, 2021

Every time the economy gets into trouble, governments and central banks react the same way. They slash interest rates and loosen monetary policy.  This gooses the economy — temporarily. But when the next crisis comes, it takes an even bigger dose of extraordinary monetary policy to revive the economy. The Fed has pushed things into the future several times, but as Friday Gold Wrap host Mike Maharrey explains, at some point you’ve got to pay the piper. In this episode, he also discusses...

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