A couple of minutes ago I just saw that the Fed minutes indicated that they are worried about low inflation. In my 60+ years on earth I have determined that higher inflation means my standard of living goes down unless my wages are raised accordingly (which my wages are not raised accordingly). Therefore it appears that the Federal Reserve’s goal is to have high inflation. This would mean that main street has to live lower on the hog. This would mean that the Federal Reserve is an enemy of main street !!!
Is my assumption correct?
By the way John Williams shows inflation MUCH higher !!!
When Tricky Dick (aka Nixon) took us off the gold standard in 1971 I believe you could buy an ounce of gold for $35, which would be worth around $1,150 today. Had you taken $35 in paper money instead and put it in an envelope the purchasing power of that paper money would have decreased about 92% or in other words buy you about $2.80 in goods today. WOW, I guess gold is a pet rock afterall (NOT !!!).
I guess main street does not understand that the Fed is their enemy and that gold has for thousands of years has out performed paper currency (aka toliet paper).
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Andy,
Great update and thank you.
A couple of minutes ago I just saw that the Fed minutes indicated that they are worried about low inflation. In my 60+ years on earth I have determined that higher inflation means my standard of living goes down unless my wages are raised accordingly (which my wages are not raised accordingly). Therefore it appears that the Federal Reserve’s goal is to have high inflation. This would mean that main street has to live lower on the hog. This would mean that the Federal Reserve is an enemy of main street !!!
Is my assumption correct?
By the way John Williams shows inflation MUCH higher !!!
When Tricky Dick (aka Nixon) took us off the gold standard in 1971 I believe you could buy an ounce of gold for $35, which would be worth around $1,150 today. Had you taken $35 in paper money instead and put it in an envelope the purchasing power of that paper money would have decreased about 92% or in other words buy you about $2.80 in goods today. WOW, I guess gold is a pet rock afterall (NOT !!!).
I guess main street does not understand that the Fed is their enemy and that gold has for thousands of years has out performed paper currency (aka toliet paper).