re: Prices of goods we use every day are rising at their fastest pace in three years

our irresponsible monetary policies can be traced all the way back to Greenspan and even further to when Nixon took us off the gold standard to “protect the dollar from speculators”. At this point, pointing at a specific political party and assigning blame for the inflationary pressures of today is just laughable.

No president wants to oversee responsible monetary policy because that will involve the interest on treasury bonds going up and staying up to restrict liquidity inflow, which hurts the equity markets and costs politicians elections. In the last decade and more notably within the last year we’ve moved to direct liquidity injection instead of over-leveraging on borrowed money, which seems like the last stop before inflationary concerns result in the debasement of the underlying fiat currency to me. Biden absolutely will not be the guy to fix this problem, I’d anything he wants to spend a lot of money the government doesn’t have and will only accelerate it further.

It’s hard for me to see fiat currency surviving in perpetuity given the current paradigm. The existence of the Fed and our horrible monetary policy has propagated unsustainable wealth inequality and “rigged the game”, if you will, against younger investors that want to do things like buy a house. We lie to ourselves about inflation with flawed metrics like core CPI and CPI, but the asset classes soar in value well beyond what is reported and this flawed metric is used as justification for more terrible monetary policy. It’s a positive feedback loop that is breaking.