Wall St. For Main St., Released on 3/6/21
The goalposts were just moved…again by the Fed? Recently, Fed Chairman Jerome Powell testified before CONgress that money supply growth no longer was inflationary.
Fed Chair Jerome Powell says money printing doesn’t lead to inflation www.kitco.com/news/2021-02-24…
However, this directly conflicts with the November 2010 Washington Post Op-Ed from then current but former Fed chair, Ben Bernanke, who promised that money supply would not go parabolic like it is now here in the US. The Fed stopped reporting M3 numbers about 10 years ago and just put out a blog post on its website how other money supply definitions are now going to be changed too. These changes to government economic data and formulas are a big part of the lie component of Stagflate, Tax Lie.
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Jason Burack is an investor, entrepreneur, financial historian, Austrian School economist, and contrarian. Jason co-founded the startup financial education company Wall St for Main St, LLC, to try to help the people of Main Street by teaching them the knowledge, skills, research methods, and investing expertise of Wall Street. You can also find Jason’s work at his blog website at www.jasonburack.com.