Inflation on Steroids | The Gold Standard #2124

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Inflation on steroids is what conditions look like just before hyperinflation. If hyperinflation is pricing soaring over 50% in one month, inflation on steroids is somewhere around 20%. As of this writing, the official tally is 6.8% and rising. If you’ve gone grocery shopping recently or filled up your gas tank, you know the price increase is much more than 7 or 8 percent. It’s more like 20 percent.

Year-on-year inflation rates continue to rise to their highest levels in several decades. Everybody asks will the increase be temporary or is it here to stay. The answer depends on who you ask.

After receiving many complaints about higher prices, the Fed announced more aggressive policies to circumvent rising inflation and will probably raise interest rates in 2022. A recent report says investors’ top two 2022 concerns are inflation and the Fed raising rates at the wrong time.

Higher Prices Are Here to stay

Inflation on steroids has a base of currency supply increases mixed in with ample amounts of too much demand and too little supply. Conditions for a perfect storm of financial chaos continue to gather over our horizon. Any way you dice it, elevated prices will be with us for a while.

Host Dave Deno and guest Ken Russo, VP of the Midas Gold Group, discuss the unhealthy practices of our nation’s fiscal policy. Instead of tightening the money supply to stop inflation, the Federal Reserve prints money. Fear of deflation drives the Fed, and they will do whatever is necessary to escape the trap of deflation.

As the public realizes inflation isn’t as transitory as they were first led to believe, they begin to purchase more so they don’t have to pay even higher prices later, creating excessive demand and, ultimately, shortages.

As the Dollar Goes Down, Gold Goes Up

The main thing to remember is that currency’s purchasing power always goes down. The value of the US dollar never goes up. The US dollar has lost ninety-seven percent of its purchasing against gold since 1971. Eighty percent of the dollar’s purchasing power has eroded since 1980. As Ken Russo says, “If you want something strong and secure, something that is going to preserve wealth for future generations, physical gold is the only way to go.”

Why Physical Gold and Silver?

Owning precious physical metals such as gold and silver are the only assets that have never failed. Gold is a tangible asset of inherent value, and its purchasing power will never fall to zero. Gold, and its precious metal relatives, are entirely private financial assets and not part of the financial system. Precious metals are the few financial assets that are not simultaneously a liability. The wonderful thing about gold is that when you purchase it, it is yours.

Vienna Gold Philharmonic

For this episode, the featured bullion product is the official gold bullion for the Republic of Austria. The elegant Vienna Gold Philharmonic is also known as the Austrian Gold Philharmonic and came on the market in 1989. Like many government bullion coins, the Vienna Gold Philharmonic is available in different fractions.

The designs by Chief Engraver Thomas Pesendorfer illustrate Austria’s commitment to its musical culture. The obverse features the sculpted image of the Musikverein Pipe Organ from the Golden Music Hall of Vienna, the home of the Vienna Philharmonic Orchestra. The reverse of the Vienna Gold Philharmonic presents an assortment of the musical instruments that make up the Vienna Orchestra.

You will want to listen to Ken Russo’s vivid description of this unique and fantastic gold bullion coin from the musical capital of the western world.
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