Even with the CPI rising more than expected every month this year, Federal Reserve Chairman Jerome Powell continues to insist that inflation is “transitory.” But not everybody is buying Powell’s narrative. In a blog post published July 7, International Monetary Fund (IMF) Managing Director Kristalina Georgieva warned of a “sustained” inflation rise in the United States.
But even if she’s right, will the Fed do anything about it?
Does gold still matter?
A lot of people dismiss gold and precious metals as irrelevant to the world monetary system. But how can money be irrelevant?
Liechtenstein-based Incrementum AG managing partner Ronald-Peter Stöferle joined Mises Institute president Jeff Deist to talk about all things gold, including why it is still money and an important part of the global financial system.
The International Monetary Fund dissed the dollar in its annual External Sector Report, saying the greenback is overvalued.
According to a Reuters report, the IMF report also said that “nearly half of global current account balances are now excessive, adding to growth risks and trade tensions.”
In a world drowning in debt, the US stands out, according to the International Monetary Fund.
Global debt has reached record levels. According to a recent IMF report, the world has amassed $164 trillion of debt. That comes to 225% of global debt to GDP, levels not seen since the peak of the 2008 financial crisis when combined public and private sector global debt-to-GDP hit 213%.
Over the last several years, mainstream analysts have built a wall of optimism about the US economy. “Everything looks great,” they say. “Look at the jobs numbers!” “Look at the stock market!”
A number of contrarians have said things aren’t so great and a massive crash is on the horizon. The mainstream has pretty much ignored the naysayers. But a recent report by the International Monetary Fund shows some cracks in the wall of mainstream optimism. And in the current political climate, it may not take much to cause the wall to crumble down.
The war on cash may have hit a snag in Europe.
A lot of people apparently don’t want to play along.