Alasdair Macleod: Inflation rearing its ugly head


5:58p ET Thursday, July 5, 2018

Dear Friend of GATA and Gold:

GoldMoney research director Alasdair Macleod today reviews the deceit of government inflation data, which always tries to conceal increases in prices.

Macleod writes: "It is in the interests of the statisticians' paymasters, the state, to see price inflation under-recorded, so it should be no surprise that independent attempts to record price inflation put it far higher.

"Independent estimates suggest that a price inflation rate of around 10 percent, depending on the urban location, is a more truthful assessment. If this was officially admitted, the continuing impoverishment of the ordinary American would be exposed, because the gross domestic product deflator would be large enough to record an economy continually contracting in real terms. And this appears to have been the situation since the Lehman crisis, as well as in many of the years preceding it.

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"You cannot, year in year out, take wealth away from consumers without crippling the economy. ...

"The purpose of monetary policy has quietly changed from what is commonly stated -- that is, to foster the health of the U.S. economy. Instead it is to ensure that government spending can proceed without interruption and without asking the people's representatives permission to raise taxes."

Macleod's analysis is headlined "Inflation Rearing Its Ugly Head" and it's posted at GoldMoney here:

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

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