Economist John Williams from Shadowstats.com

Head of Shadowstats.com, John Williams wishes listeners a Merry Christmas and Happy Holidays, despite news that the Federal Reserve has more than doubled the money in circulation.

According to Shadowstats figures, The Fed's CPI-U, is approaching 40 year high, as the cost of living spirals out of control. Another revived figure, based on the Fed's more accurate formula, is approaching 15% inflation, nearly a 70 year record!

Expect headline reports of "Shrinkflation" to continue in the new year, as manufacturers hike prices, maintain package sizes, while reducing the contents, representing a double blow to the already strapped domestic consumer.

Bottom line - investors and citizens alike are advised to take advantage of the temporary discounted price of gold and silver investments, to shield wealth against an inevitable erosion of purchasing power, savings and investment value