The Fed's Choice is Hyperinflation or Destroy the Economy
Bob Moriarty: The Feds Choice is Hyperinflation or Destroy the Economy
Palisades Gold Radio: 10-17-2022
Tom welcomes Robert Moriarty back to the program to discuss the interesting times happening around the world. He says, "I'm an equal opportunity anarchist, I despise all governments equally. They're all stupid and are doing these incredibly short-sighted things."
We're seeing CPI numbers blowing out across Europe. This is incipient hyperinflation. Western policies are self-destructive and all of these governments are doing the wrong things repeatedly.
The Fed is cornered between hyperinflation and destroying the economy. It's like choosing between dying from a heart attack or lung cancer.
The entire world is run my mental midgets and the west is committing suicide by sanctions.
Governments attract sociopaths who desire power, and they focus on short-term solutions that don't work.
You don't want to mess with the energy supply demand signals by bailing out your citizens. This is a terrible idea, just like the 'inflation reduction act'. There are no positive benefits to most policies of government today.
The relationship between the U.S.A. and the Europeans is going to change dramatically when they wake up to reality this winter. Politicians and bureaucrats don't understand the law of unintended consequences. Those in charge rarely recognize the potential problems their policies will create.
The same problems Europe is facing are going to happen in the United States. Every pension in the world is bankrupt. Things are going to become serious very soon.
Bob explains how a debt jubilee is supposed to function in an economic system.
We're already seeing the catastrophic impact of a high dollar. A lot of debt is based in the dollar, and most don't understand the dollar index. It's a basket of currencies, and it reflects the decline in value of other currencies. There is no fixing the bond crisis that's coming other than to write off the debt.
The solution is to go back to gold, but no one will want to do it until they have no other choice.
Bob believes that Russia and the BRICS nations will lead the world in a move to a gold system.
In the modern system, every financial market is manipulated, but the suppression only works for a while. Resource stocks are as cheap as they have ever been. Lastly, he discusses his 'latest' book, "No Guts No Glory" which chronicles his 'Glory Days of International Aircraft Deliveries.'
Time Stamp References:
0:00 - Introduction
0:38 - Interesting Times
2:38 - Western Policies
6:02 - Gov't Incentives
12:42 - Unintended Consequences
17:20 - Confidence & Currency
24:33 - Voluntary Collapse
26:30 - Dollar Strength
28:27 - BRICS & Russia
29:50 - Metals Manipulation?
35:35 - Mining Equities
42:25 - Juniors Vs. Physical
47:16 - Publishing His Book
52:10 - Wrap Up
Talking Points From This Episode
- Why government and their policies are often short-sighted and frankly stupid.
- Fed is caught between choosing hyperinflation or economic collapse.
- Energy problems in Europe this winter will create tension between western nations.