2% Inflation is Fantasy Land
Last week, Peter appeared on Soar Financially, where he was interviewed by host Kai Hoffmann. The two dive into gold’s upward trajectory and its historical precedents, the market’s misguided optimism when it comes to the American economy, and recent events in domestic politics and international banking.
Peter starts with his perennial reminder: public sector jobs do not boost the economy, and recent jobs numbers are intended to support a false narrative.
“Government jobs are not a sign of a strong economy. In fact, they weaken an economy because we have to pay for those jobs. They’re non-productive jobs. They result in bigger deficits, higher inflation. That’s really all we have– we have inflation that masquerades as growth.”
One factor distinguishing today’s economy from the past is that no monetary policymakers intend to hike rates in the long-term:
“Gold is on pace to have its biggest gains since 1979. And it’s not a coincidence that gold is moving this much, especially when the Fed is starting to cut rates and just beginning this new easing cycle. In 1979, the Fed was still tightening. In fact, in 1980, tha
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