…the end of the beginning. Reuters has just reported that Paul Volcker is leaving his post as head of the President’s Economic Recovery Advisory Board.
It has always been my opinion that Volcker was asked to lend his street cred to the Fed’s reinflation efforts. His reputation as the inflation fighter who broke the back of runaway inflation in the late 1970’s was supposed to represent his stamp of approval, and to allay fears of a runaway inflation caused by the Fed’s money-printing.
Now that he is gone, the shredding of the middle class through inflation can continue in earnest.
Got gold and silver?