Despite all protests to the contrary the Fed does not "care" about high inflation or negative real interest rates. In fact, it's job is to *ensure* negative real interest rates right now, so that Wall Street's well connected speculators can be bailed out. Monetize bigwig losses using Main Street's CDs, MMs and savings accounts --while commodities go through the roof-- is the Fed's true unspoken mandate.
Q: How do you know when the Fed Chairman is lying? A: His lips are moving.
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True "Inflation" (as measured by the pre-Clinton CPI) is currently running ~13%, if not higher.
Aug 22 14:12 pm
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Despite all protests to the contrary the Fed does not "care" about high inflation or negative real interest rates. In fact, it's job is to *ensure* negative real interest rates right now, so that Wall Street's well connected speculators can be bailed out. Monetize bigwig losses using Main Street's CDs, MMs and savings accounts --while commodities go through the roof-- is the Fed's true unspoken mandate.
Q: How do you know when the Fed Chairman is lying?
A: His lips are moving.