BUCKLE UP: Greyerz – Another Massive Inflation Wave Is About To Be Unleashed

Today the man who has become legendary for his predictions on QE and historic moves in currencies and metals warned King World News that another massive wave of inflation is about to be unleashed and it will devastate the US stock market.

POWELL’S INFLATION TARGETING
August 13 (King World News) – Egon von Greyerz, Founder of Matterhorn Asset Management:  The Fed has two mandates – Maximum Employment and Price Stability.

If we look at price stability, the Fed has failed miserably. 

The Fed employs 3,000 people in Washington DC of which 300 have a Ph.D. degree.

Their mission is “to provide our nation with a safer and more flexible and more stable monetary and financial system” with the overall mandate being price stability. 

In addition to discussing the Fed’s total failure in controlling inflation, in this article I will also stick my neck out in the climate debate before I go on to the likely disastrous effects of debts, deficits and inflation will have on investment markets…

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POWELL’S ABRACADABRA INFLATION TARGETING
Last week the Fed chairman explained, in the Senate, the method the 300 Fed PhDs and many of the 3,000 Fed staff apply for inflation targeting.

Senator Cortez asked Powell:

Cortez: 

“Why 2% inflation?”

Powell: 

“The 2% is globally agreed between all major central banks as a target.”

EvG question: So for this Lemming system 300 PhDs are required?

Cortez: 

“How does it help people?”

EvG: The contorted Fed Speak reply which Powell utters summarises the entire wisdom of the Fed.

Powell: 

“I will tell you how it does, I guess it is obviously not obvious how that is.”

EvG: Hmmmm… Powell obviously doesn’t have a clue – “OBVIOUSLY NOT OBVIOUS!” ……more here

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