Thanks Fed… for the Most Expensive Thanksgiving Ever!

Well, what did they think was going to happen?  Jerome Powell and the rest of the Federal Reserve money manipulators, we mean.

They printed almost $5 trillion dollars in just over two years.   And, yes, for those of you new to these comments, welcome, and we know they don’t literally “print” all that money these days.  Instead, they just strike a few keys on a computer somewhere in the Marriner Eccles building in Washington, hit enter, and send some electrons whiriling their way to make a new bookkeeping entry, creating money electronically.

Actually, printing money is so yesterday.  Digital money “printing” is so much more efficient.  So, with almost no trouble at all, no truckloads of linen stock, messy barrels of ink, and noisy printing presses, the Fed digitally created almost $5 trillion in just over two years.

(See the following chart of Fed Assets.  This represents the government bonds and other securities that the Fed purchased with absolutely no money over the past couple of years.  The Fed’s assets have grown from $3.85 trillion in September 2019 to $8.67 trillion today.)

Well, what did they think was going to happen?  Didn’t anybody pause to think that all that money had to go somewhere?  And that it would drive prices higher?  

And give us the most expensive Thanksgiving in history?

The New York Post:  

“Americans can expect to shell out 14 percent more for Thanksgiving dinner costs this year than they did last year, making this year the most expensive Thanksgiving on record, according to the American Farm Bureau.”

“The Labor Department’s Consumer Price Index, which measures a basket of goods and services as well as energy and food costs, jumped 6.2 percent in October from a year earlier, the biggest one-year spike in over 30 years.”

Inflation is at a 30 year high.  And consumer confidence is at a 10-year low.

That is only the beginning of the inflation the Fed is sending our way.  And it is why we hope you are protecting your family and your wealth with gold and silver.

We hope that you can count the health and safety of your loved ones as among your greatest blessings of this difficult year.  

We are grateful for all our clients, new friends and old, in 2021.  After enjoying Thanksgiving, make plans to visit with us at Republic Monetary Exchange and be sure you are prepared for the coming year.