The Economy is About to Break!

Wholesale Prices are up 11.2 Percent!

Inflation, foreign war, rising interest rates, food shortages, sanctions, triple-digit oil prices, Fed policy, frantic White House…

Gold gets the picture!

Only one day after reporting consumer prices have risen 8.5 percent over the last year, the Bureau of Labor Statistics reported that the Producer Price Index (wholesale prices) have skyrocketed up 11.2 percent in the same period.

The PPI increase just for the month of March was up 1.4 percent which is an annual wholesale inflation rate of about 17 percent.   

Gold reacted to the news with fresh upside momentum

Producer prices are now like a runaway train of higher prices headed right at American consumers.

The mainstream press prefers not to acknowledge the complicity of the US Federal Reserve is debasing the dollar’s purchasing power, but the Fed has increased the money stock (M2) by 42 percent since the end of 2019.

So in the face of virulent inflation, a monetary disorder that can wipe out the savings of generations – the capital formation that has helped make America prosperous – and can decimate the middle class, what is the Biden administration going to do about it?

We’ll let Vice President Kamala Harris answer that.  Here is her response to a Philadelphia news reporter last week:

I acknowledge one must acknowledge that prices are going up, and that people are working hard and, in many cases, are worried about whether they can get through the end of the month and make it all work.

What I can say is that people deserve to know that their president, that our administration, is concerned enough to do something about it, so that is what we are doing.

And that, ladies and gentlemen, leaves only one thing left to be said.  Buy gold and silver with both hands!