While we already posted the Chicago Fed President Charles Evans’ CNBC interview this morning in the gold and silver update, Evans’ comments are so shocking that they deserve their own post.
Evans explains the Fed’s dual mandate: keep unemployment low, and ensure inflation targets Wiemar Republic levels.
At least that’s what we heard.
Evans attempts to claim that the Fed is ‘justified’ in attempting to debase the dollar to sub-worthlessness, due to the high unemployment rate.
Evans claims that the only possibility inflation will increase above 2-3% is if the economy recovers, and people bid up asset prices due to the roaring economy. Until that occurs, Evans states the Fed will continue create new accommodative policies to ‘stimulate growth’.
Folks, Evans has just unknowingly given THE PRECISE FORMULA FOR HYPERINFLATION!! Back up the truck on all significant dips in gold and silver as it is now time to CONVERT ALL FIAT ASSETS INTO PHYSICAL GOLD AND SILVER!!!