I began to forecast inflation last Summer when the FED began the Great Monetary Expansion. I pointed out that Volcker ended the 1970's inflation by targeting money supply; therefore, the FED could create inflation by allowing money supply to grow at an unlimited rate..

...last Winter, I said nominal GDP would surge given the tremendous fiscal & monetary accomodation, but no one could accurately forecast how much of this nominal GDP increase would be price increases and how much would be real economic growth...

...it is now becoming clear to me, that inflation is surging way above anyone's economic forecasts. Yes, we know the FED will use the BLS's hedonistic accounting to understate these increases & over report real economic growth. But in the real world we are now seeing, velocity..

..bottom. Once New York billionaires start liquidating money markets to buy up all available real estate in the rest of the country, you know something has changed. Wage inflation is also now with us as the fiscal policy continues to pay people not to work for anything less...

... than $20 an hour. The risks that inflation rises above 5%-7% in the real world has increased significantly. If that is the case, real yields are significantly more negative than anyone understands. Gold & Silver are the most undervalued investment vehicles on the planet...

.... At some point in time, Gold will rise and Bonds will fall and the algorithmic traders who short Gold every time the bond market falls, will be caught short, & the next leg in this precious metals bull market will be confirmed. Will that be today as J. Powell says inflation..

... is transitory? Time will tell. I studied the FEDs minutes of the 1970's for my Senior Thesis in Economics. The FED spent a decade during the 1970s saying inflation would peak & held rates too low, their forecasts were wrong. This time will not be different as long as..

...money supply explodes and Congress & Treasury give out Free Money.