MONEY: Inflation deception — what goes up; never ever comes down

Wednesday, June 30, 2021

https://www.zerohedge.com/personal-finance/inflation-transitory-heres-your-simple-test

Is Inflation “Transitory”? Here’s Your Simple Test
BY TYLER DURDEN
THURSDAY, JUN 17, 2021 – 09:50 AM
Authored by Charles Hugh Smith via OfTwoMinds blog,

*** begin quote ***

Is inflation “transitory” in your household budget? Really? Where?

The Federal Reserve has been bleating that inflation is “transitory”–but what about the real world that we live in, as opposed to the abstract funhouse of rigged statistics? Here’s a simple test to help you decide if inflation is “transitory” in the real world.

Let’s start with some simple stipulations: price is price, there are no tricks like hedonics or substitution. Nobody cares if the truck stereo is better than it was 40 years ago, the price of the truck is the price we pay today, and that’s all that matters.

(Funny, the funhouse statistical adjustments never consider that appliances that used to last 30 years now break down and are junked after 3 years–if we adjusted for that, the $500 washer would be tagged at $5,000 today because it has lost 90% of its durability over the past 30 years.)

*** end quote ***

My readers, acquaintances, friends, and anyone who will listen to me is probably tired of hearing me whine about “penny candy”, “three silver dimes for a 1965 gallon of gas”, “my long gone father-in-law’s fifty dollar bill”, and “the dollar losing 99% of its purchasing power in 50 years”.

I don’t know how else to make “We, The Sheeple” realize that the politicians are robbing us blind.

Argh!

All I can say is save your nickels; at least they have some intrinsic value.

—30—

Leave a Comment » | MONEY | Tagged: , , , , | Permalink
Posted by reinkefj

MONEY: “everybody is rich”

Wednesday, May 12, 2021

https://www.economicpolicyjournal.com/2021/05/when-hitler-finds-out-accelerating.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed:+economicpolicyjournal/YZSb+(EconomicPolicyJournal.com)

When Hitler Finds Out The Accelerating Inflation Is Not Transitory
EconomicPolicyJournal.comby Robert Wenzel

# – # – # – # – #

Short video about “everyone is rich”!

—30—

Leave a Comment » | MONEY | Permalink
Posted by reinkefj

MONEY: Currency Devaluation?

Tuesday, May 11, 2021

https://www.economicpolicyjournal.com/2021/05/this-is-how-bad-currency-devaluations.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed:+economicpolicyjournal/YZSb+(EconomicPolicyJournal.com)

TUESDAY, MAY 4, 2021
This is How Bad Currency Devaluations Can Really Get

*** begin quote ***

Re how vicious currency devaluations can be for many people, I heard an interesting anecdote today in a podcast about a young man who escaped the horrors of North Korea. He described in excruciating detail the various ways that the communist regime savaged the common man/woman there.

Almost in passing, the young man mentioned “did you hear about the currency devaluation that occurred in North Korea in 2010.” (It caused him to be homeless again.) He said that it, “killed thousands of people because the money that people had been saving became worthless.”

He added, “a lot of our neighbors committed suicide. It was like one day they had something and another day they have nothing. And they have no hope of living.”

*** end quote ***

Once upon a time, before I was old enough to get a job that paid real money, I had the childhood dream that “Monopoly money would become REAL money.”  Sigh, the child’s fantasies, have sort of become true.  The “REAL” money of my youth has become almost as worthless as Monopoly money.

The dollar of the 1960’s has lost NINETY SOMETHING per cent of it’s purchasing power.

Using the “penny candy” standard, it’s a 100%.

Using the “quarter a gallon of gas” standard, (a silver quarter is worth about five 2021’s “dollars”; 5 2021’s “dollars will buy you 2.78 gallons; a 2021 quarter “slug” will buy you  about 0.14 of a gallon; that about 0.05 of value) it’s about 95%.

Using the “Kendall Park ranch house” standard, (a 35k$ house now sells for about 325k$; or about 9 times it’s nominal value) it’s about 92%.

Pick the number you like best to describe the “devaluation”!

The Gooferment might as well devalue. “We, The Sheeple” are already screwed.

—30—
 

Leave a Comment » | MONEY | Permalink
Posted by reinkefj

MONEY: What “inflation”?

Tuesday, May 4, 2021

https://www.dailymail.co.uk/news/article-9541387/Grocery-gas-electricity-prices-surge-inflation-warnings-grow.html

42580404 9541387 image a 3 1620168460447

—30—

Leave a Comment » | MONEY | Permalink
Posted by reinkefj

MONEY: Hidden inflation

Sunday, May 2, 2021

Costco paper towels: Now with 20 fewer sheets per roll
5/1/2021, 10:29:18 PM · by dynachrome · 30 repliesredflagdeals ^ | 4-26-21 | frozatio
Costco paper towels. Same price as the previous several times buying them. Now with 20 fewer sheets. 140/160= .875 Inflation rate: 8.75% Find the old rolls in store with 160 sheets and it’s effectively like buying the new sheets at 8.75% off!

# – # – # – # – #

Here’s an example of inflation being hidden!

—30—

Leave a Comment » | MONEY | Permalink
Posted by reinkefj

MONEY: Penny candy and other economic lessons

Wednesday, April 14, 2021

https://schiffgold.com/interviews/peter-schiff-with-tucker-carlson-inflation-is-a-painful-tax/

Peter Schiff With Tucker Carlson: Inflation Is a Painful Tax
APRIL 6, 2021  BY SCHIFFGOLD 

*** begin quote ***

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.

*** end quote ***

I’m tired of ranting about inflation. 

Just do a search on the blog for “three silver dimes” and you’ll see some of my best examples (i.e., the Roman’s cloak, penny candy, 1968 gas prices).

It all comes down to the politicians and bureaucrats having an incentive for silent taxes.  If some Gooferment goon came in every year and seized 2% of your wealth (i.e., 2/100ths of your house), then you’d understand.

I don’t know what I can write that will make the point of inflation is due to the FED. (The Federal Reserve Bank is a misnomer. IT ain’t “federal”. It reserves nothing. And, it ain’t a “bank”. It is a private cartel of the elite banks run for their benefit and that of the entrenched politicians.)

Sure the rich, the elite, politicians, and bureaucrats love inflation.

It’s a racket.

“It’s a big club, and you ain’t in it! You, and I, are not in the big club.” — George Carlin
https://www.youtube.com/watch?v=i5dBZDSSky0

—30—

Leave a Comment » | MONEY | Tagged: , , , , , | Permalink
Posted by reinkefj

MONEY: MMT is the “voodoo economics” of 21st century

Monday, March 22, 2021

https://www.newsmax.com/finance/drmichaelbuslerphd/modern-monetary-theory-inflation-federal-reserve-money-supply/2021/03/19/id/1014452/

Modern Monetary Theory Is Wrong: Inflation Is Coming
By Dr. Michael Busler, Ph.D.Friday, 19 March 2021 12:59 PMCurrent | Bio | Archive

*** begin quote ***
 
Many economists and much of the public are beginning to worry about the massive increase in the money supply and the massive increase in deficit spending. With a public debt approaching $30 trillion and a money supply that has increased by 25% in the last two years, the worry seems justified. However, Modern Monetary Theory (MMT) says we have nothing to worry about.

MMT says that since the US uses a currency that is not backed by anything other than faith in the government, more money can always be printed to pay off the debt. And the increase in the money supply will not necessarily lead to inflation.

*** end quote ***

I don’t understand how more “dollars” in circulation chasing a relatively fixed amount of goods and services can NOT Lead to higher consumer prices.

The only one who benefits from inflation is the Gooferment.

The poor, the retired, those on fixed income, bondholders, and the middle class are getting screwed.

—30—

Leave a Comment » | MONEY | Permalink
Posted by reinkefj

MONEY: China is a “financual” enemy

Saturday, September 19, 2020

https://www.zerohedge.com/geopolitical/china-killing-dollar

China Is Killing The Dollar
by Tyler Durden
Fri, 09/18/2020 – 23:40
Authored by Alasdair Macleod via GoldMoney.com

*** begin quote ***

In the wake of the Fed’s promise of 23 March to print money without limit in order to rescue the covid-stricken US economy, China changed its policy of importing industrial materials to a more aggressive stance. In examining the rationale behind this move, this article concludes that while there are sound geopolitical reasons behind it the monetary effect will be to drive down the dollar’s purchasing power, and that this is already happening.

More recently, a veiled threat has emerged that China could dump all her US Treasury and agency bonds if the relationship with America deteriorates further. This appears to be a cover for China to reduce her dollar exposure more aggressively. The consequences are a primal threat to the Fed’s policy of escalating monetary policy while maintaining the dollar’s status in the foreign exchanges.

*** end quote ***

It would seem that the USA politicians and bureaucrats are playing into the Chinese’s hands.  And, giving them the “club” to beat the USA to a pulp!

—30—

Leave a Comment » | MONEY | Permalink
Posted by reinkefj

MONEY: The End of COMEX Paper Gold?

Wednesday, August 19, 2020

https://tomluongo.me/2020/08/14/market-friday-end-comex-paper-gold/

Market Friday: Is This the End of COMEX Paper Gold?
Date: August 14, 2020 — Author: Tom Luongo

*** begin quote ***

And now, the question on a lot of people’s minds is whether we’ll see the end of the fiction of the paper gold market as epitomized by the futures market on the COMEX.

*** and ***

The fiction of a gold-settled futures contract keeps the fiction that supply and demand for gold are in balance at these prices. But are they really? If so then gold wouldn’t be hoarded the way it is. Gresham’s Law would reverse and gold would move into the market at a much higher clearing price.

*** and ***

That, to me, is what is so very important about what is happening now. Because that begs the question, cui bono?

Who benefits from breaking the price control system of the fake, paper gold market?

Once you sort through the answer to that, China and Russia, then what’s been happening in gold and silver should make a whole lot more sense.

And why gold seems to have decoupled not only from the COMEX but gyrations in the U.S. dollar.

*** end quote ***

And, that girls and boys is the end of a lot of things — FED policy driving the Stock Market, the ability to have a debt laden society to support itself, and the USA’s empire.  How far “we” fall is yet to be seen.  Study the rise and fall of ALL empires and distill the common factors — debasement of its currency and fall in “civic morality”.

So sad.  Glad I’m not going to be here to see it happen, but I believe it will.

Save your nickels!

—30—

Leave a Comment » | MONEY | Permalink
Posted by reinkefj

MONEY: Always keep your nickels!

Monday, August 17, 2020

https://www.zerohedge.com/markets/mnuchin-begs-coins-amid-shortage-avoid-depositing-these-pennies

Mnuchin Begs For Coins Amid Shortage; Avoid Depositing These Pennies
by Tyler Durden — Thu, 08/13/2020 – 05:30

*** begin quote ***

According to Coinflation.com, pennies from 1909-1982 are approximately 95% copper and have a metal value of about $0.0185. In this instance, once could almost double their money if they took these pennies to a scrapper than the bank. Here’s the complete list of what coins are worth in terms of face value versus metal value.

*** end quote *** 

Pretty bad when the “valueless coins” take on more value for the underlying metal.

Argh!

—30—

Leave a Comment » | MONEY | Permalink
Posted by reinkefj

« Previous Entries
Next Entries »