Inflation
The Bonn N8 was $399 in 2020. Now it is $549.
Either buy your stuff now or convert bucks to gold.
Newmont was up 5.4% today.
@nonoise the guy who you are probably talking is unfortunately correct. Inflation is caused when too much money chases a limited supply of goods and services. COVID may have crimped the supply chain, but it was and is GOV that is printing money right, left and in-between - making any accumulated money you and I may have worth less. I am not trying to start an argument by saying that current gov policy is "bad." However, I am saying that it is definitely inflationary. |
The printing of money doesn't contribute to inflation. It doesn't work that way. When the government increases currency, it simply buys things like savings (which there are tons of) and puts it into circulation. It's been done that way since, forever. Did any of you know that 54% of adults between 16 - 74 years old can't read at a 6th grade level? Save those stories of printing money being the cause of inflation for them. All the best,
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Bearing in mind that the current Fed head honcho, Jerome Powell, has no formal economics education and was a lawyer by trade. My opinion - he does what he is told to do and say, including the mantra that any inflation was going to be "transitory". Uh huh. Influential economists to the Fed subscribe to what is known as Modern Monetary Theory. This is bad economics because it is built on some bad assumptions that prudent economists and most normal thinking people do not subscribe to. So I got some prickles when the words manage, inflation, and the Fed were used in about one short sentence. I thought I suggested this was perhaps not the appropriate forum? But if its OK with AG mods... Watching Led Zeppelin 2008. After the gig (its contrived and all, and pretty good if you can forget all that) Robert went to his local bar by himself, got smashed with a few other regulars there and said to himself about the gig "never again". |
