CPI data tells how much the Bureau of Labor Statistics basket of goods increased. It doesn’t tell us anything about the root cause of price inflation – monetary inflation.
The bottom line is we need to pay for everything as we go and stop deficit spending, and there are only two avenues for doing that—raising tax revenues and lowering expenses.
Soon the Chinese, the Malaysians, the Iranians, and the Indians, among others, won’t want US dollars. They don’t want to accept them now, because it’s an asset of their adversary.
As Eastern central banks stockpile gold and the West struggles with fiscal issues, Powell predicts gold will become the "once and future money" in a new global monetary system.
