The US government is telling everybody that inflation is 3.4% per year. That is not correct. Try 14.2% and that’s about right. Source : gold/usd 1 year simple moving average.
The US government is telling everybody that inflation is 3.4% per year. That is not correct. Try 14.2% and that’s about right. Source : gold/usd 1 year simple moving average.
I’ll accept without evidence that real inflation feels a lot higher than 3.4%, but proposing short term shifts in the price of gold, or any other single commodity as a better metric is just nuts.
Well, shadow stats agrees with me. According to the way they measured inflation in the 1980s, we are about 12%. So even if my estimate was wrong, it’s not off by far.
And the way they measured back then included things such as, oh, I don’t know, food and energy, which are two things everybody just happens to need.
Yes, measure the things people need, not gold.