Gold prices hit new highs amid declining confidence in the USD, as capital flows shift away from the dollar. The Fed’s rate cut sparks concerns over potential election interference.
by Dave Fairtex
Chris Martenson’s Peak Prosperity
I took a peek down the inflation rabbit hole this week because some folks thought that the tiny increase in Retail Sales was fantastic (because – dropping prices!). Unfortunately, those “dropping prices” metrics were provided by the BLS. John Williams at shadowstats.com provides a CPI that’s calculated using the same method used back in the Carter days. Carter (probably) lost the 1980 election because of the then-15% inflation, so his successors (appear to have) progressively “fixed” inflation calculations so this unfortunate reveal wouldn’t happen again. Call it: government-gaslighting, which has just grown worse over time, as revealed to us by John Williams. Long story short: inflation is massively underestimated by about 6-8% annually, vs calculations used in Carter-1980. As a result, the Fed’s “2% inflation target” is actually a 9% inflation target. Quite literally, “the system” has been busy making sure that “You Will Own Nothing” over the past 20 years. And if you do accidentally own something – cap gains taxes will “fix” the problem. “Sell your Dad’s farm to pay the taxes – to Billy Gates who got even richer off the DeathVax!”