All roads lead to inflation
And nobody’s protected from inflation.
“All roads lead to inflation.”
Christopher Waller, Jim Bullard’s Mentor:
We’ve now been above the Fed’s made-up 2% CPI target since April 2021, forty-three months.
Here’s Alan Greenspan laughing in 1996 about juking the inflation numbers…
"...we can reach price stability either by driving down the inflation rate and getting productivity to bounce up or by revising down the inflation figures and producing higher productivity! [Laughter]"
Alan Greenspan, July 1996 FOMC Minutes
Via GoldTelegraph, Judy Shelton:
Rules are for the Little People
Remember when Silicon Valley Bank failed, and uninsured (but connected) billionaire entities like Sequoia Capital1 ($1B) and Kanzhun, a Beijing-based tech company ($900M) got paid in full?
Newsflash: If you're some random American banking at First National Bank in Oklahoma, get in line. The rules do apply to you.
Remarkable, prescient exchange from March 2023. The reprehensible Janet Yellen admits Peter Thiel's personal uninsured $50 million at SiliconValley Bank & the Chinese Communist Party's uninsured deposits will be bailed out by Oklahoma community banks, but no bailout for Oklahomans.
Rules are for the little people.
Below the fold are the thoughts of Chris Whalen, David Dredge, Paul Tudor Jones, Jeff Currie, Anna Wong, Scott Bessent, Russell Napier, and others, plus Dogecoin, things that may be overpriced, looming inflation, Michael Pettis, David Einhorn, Tony Bennett, Bob Dylan, coffee, capital controls, and more fun.
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