This

 

guy is  "On the money" if anybody catches that reference :-).

(And like I said, I know he wants to sell gold, etc, don't change the fact that he is right)

FEBRUARY 23, 2022

Peter Schiff: Sanctions on Russia Could Mean Even Higher Inflation for Americans

"Biden said. “We’ll continue to escalate sanctions if Russia escalates. We are implementing full blocking sanctions on two large Russian financial institutions VEB and military bank. We are implementing comprehensive sanctions on Russia’s sovereign debt. That means we’ve cut off Russia’s government from Western financing,”

Biden said the US will also impose sanctions on Russia’s elites and family members.

"Interestingly, this is one of the reasons the Russians have been engaged in de-dollarization for several years. They were fearful that the US would use the dollar as a foreign policy club. In June 2021, Russia announced plans to completely eliminate dollars and dollar-denominated assets from its sovereign wealth fund. This was part of an intentional “de-dollarization” policy outlined by President Putin to lower the country’s exposure to the United States and shield it from the threat of US sanctions."

"But Americans could feel more immediate impacts from these sanctions. Biden conceded they could drive the price of oil even higher. But then the president promised that he wouldn’t let these sanctions hurt average Americans or the US economy. Peter asked the operative question: how can he do that?"

"He can’t, at least not honestly. He’s going to pretend. Because obviously, what Biden is going to do is he is going to take some action to try to mitigate the harm on consumers from higher energy prices, higher gasoline prices, higher heating oil prices. However Americans access energy, they’re going to be paying more for it as a result of these sanctions.”

"...as Peter pointed out, whatever the US government does to shield you from higher energy prices will come at a cost. It will raise the federal budget deficit even higher."

If the government finds a way to offset higher energy prices by giving Americans money, either by lowering the tax that they were imposing on gas or finding a way to send credits to American consumers that they could use to pay gas prices, or maybe to reimburse the oil companies or gasoline stations to sell their oil at a loss so that the American consumer doesn’t have to feel the higher price — whatever the US government does, whatever scheme they come up with … Americans are going to pay higher prices for everything else.”

(I think somebody posted a list of all the consumer goods petroleum goes in the other day)

The only way to pay for this offset is by creating inflation. The US government will have to run larger deficits. And the Fed will have to monetize this debt. In effect, that means more money printing. And that is, by definition, inflation.

And if the Fed doesn’t monetize the debt, that will just put more upward pressure on interest rates.

"As Peter explained, in effect, you might pay less for gas, but other prices will rise."

"The government has no ability to deliver anything. All they can do is rearrange the deck chairs on the Titanic."

"The bottom line is that anything the Biden administration does to ease the pain caused by these sanctions will end up inflicting even more pain someplace else."

"...rearrange the deck chairs on the Titanic."

I'm gonna be borrowing that one my good man:-). 

It explains exactly where were at rn, with a variety of issues.

I love you baby :-).

I saw your IG post :-).

Nice...