Elite heist

[Bill Bonner’s Diary]( Elite Heist By Bill Bonner Friday, June 11, 2021 [Bill Bonner] YOUGHAL, IRELAND – Well… yesterday we got the news. If we have $100,000 in cash today… at the present rate of inflation, it will be worth only $95,000 by this time next year. Keep it up for 14 years, and half your money will be wiped out. Barron’s has the details: On a year-over-year basis, consumer prices increased 5% in May, well above the prior month’s 4.2% rate and the 4.6% expected print. Core CPI was up 3.8% from a year earlier, up from a 3% pace in April and above the 3.4% rate economists predicted. Those are the fastest rates of consumer price inflation since June 2008 and June 1992, respectively. But those are just numbers. [Not even true numbers](. After the feds finish torturing them, with their “hedonic” and “seasonal” adjustments… they’ll be ready to say anything. So, let’s just try to figure out what is really going on. Recommended Link [“This is starting to feel like 1999 again…”]( [image]( The firm that called the EXACT PEAK of the dot-com boom [has just issued another major prediction](. If you’ve got money invested in the market – and especially in popular tech stocks – this is critical information for the days ahead… [Watch the Video]( -- Not Just Numbers [This week]( we’ve been exploring “inflation.” We noted that it is not just a matter of numbers. Or price increases. Prices are information. They are meant to put their hand on the Bible and swear to tell us the truth about what things are worth and what they cost. But when the feds “inflate” the currency, they suborn the witness. Yet, despite the arm-twisting, bribery, and tomfoolery, the numbers are beginning to move forward. Durables were up more than 10% in May 2021 compared to May 2020. Nondurables rose 7.4%. Services, not including energy, gained 2.9%. And energy itself rose 28.5%. And now, say Federal Reserve governors, “Don’t listen to them; they don’t know what they’re talking about. They’re just passing through… Things will be back to normal soon.” [Featured: Watch Demo of Elon Musk’s Next Big Project]( Ulterior Motive “Back to normal” for the Fed means something entirely different than what it means for us. For them, “normal” is a fantasy world in which they can inflate all they want… but the price increases stay on Wall Street. That is how “normal” has worked for the last 20 years. The Fed added $7 trillion to the nation’s monetary footing; the Dow more than tripled. Of course, there was nothing “normal” about it. The Fed was simply [inflating the wealth of the top 10% of the population]( while deflating (relatively) the wealth of everyone else. And therein, we have our motive. To make a long story short, inflation is more like a handgun than a murder… more a means to an end – neither accidental nor unexpected – than an end in itself. You’ll recall our definition of government: It’s how the elite control other people in order to protect and enhance their own power, wealth, and status. In other words, government is always and everywhere a scam – in which the many are ripped off for the benefit of the few. Everything else is just detail. Recommended Link [Top Investor Issues *Major Buy Alert*]( [ad_img]( Since 2016, Teeka Tiwari has trumped the stock market. His investment recommendations have each averaged 281%. That’s 17 times the S&P. And 112 times the average investor, according to JPMorgan! However, one investment Teeka just uncovered could top them all… It involves former President Biden, billions of dollars, several large banks, and a super-rich family. As well as a MAJOR potential upgrade to our credit cards. Teeka, who ended up correctly picking the last “investment of the decade,” is declaring this his top pick for the 2020s. [See Teeka’s top pick…]( Screwy and Absurd And by the beginning of the 21st century, the coast was clear. The old “gold standard” was long forgotten. [Alan Greenspan]( a shrewd opportunist, had long since replaced [Paul Volcker]( at the Fed. And the few remaining “conservatives” in Congress, who might have insisted on balanced budgets and honest monetary policy, were disappearing. The Fed went to work. Over the next 20 years, it inflated the money supply (its balance sheet) some 10 times – that’s 10 times more than it had added to the system in the previous 209 years. And in the 12 months from March 2020 – with a Republican in the White House until January – the Fed [added money at a 75% annual rate](. In the last full fiscal year, the federal government spent $3.1 trillion more than it raised in taxes. Is it any wonder that [meme stocks go wild]( that [stimmy checks keep the zombies moving]( that Tesla (TSLA) is going “[to the moooon]( and Jeff Bezos is [blasting into space]( It’s screwy and absurd. But it’s not all goofy fun. [Featured: The 3-Stock Retirement Blueprint]( Elite Heist A high price is not the same as a false price. And a “fraud” is not the same as an error. Over the last 20 years, the elite – who control the federal government and the Federal Reserve – used “inflation” like thieves use handguns, to shift wealth from other people to themselves. They inflated the elite sectors – Wall Street, government, education, medical care, big business… while earnings and household wealth for most people slumped. Wages in manufacturing (where they make things!) actually went down. Here’s a little item that is making its way around the Twittersphere: Since 1978, CEO compensation rose over 1,000% and only 11.9% for average workers. For many years, we’ve been mostly alone in noticing – a lonely kook, loquendo solo pro se. Neither conservatives nor liberals… Democrats nor Republicans… believed it. “The money will ‘trickle down,’” said Republicans. “It will stimulate the economy and help the poor,” said the Democrats. Besides, “if we can get control in the next elections,” they each told voters, “everything will be put right.” Recommended Link [10-Second Trading Demo Stuns Everyday Americans]( [image]( Could one little-known financial maneuver get you on the path to double or even triple-digit gains? According to one financial expert, the answer is yes. He explains everything [here]( – including a “10-second demo” of this strategy in action. [Click here for all the details.]( -- Inflation Scam Continues And the grift continued. Under George W. Bush, the Fed’s key interest rate was dropped 500 basis points in the recession/9-11 hysteria of 2001 – causing the housing bubble of 2005-2007. Next, the quantitative easing program – under Barack Obama – took it up a notch, putting $3.6 trillion of new money into Wall Street. Then along came the MAGA Man, with even bigger deficits… more spending… and an explosion of Fed money-printing. It didn’t matter who was in the White House. The flimflam was deeper than partisan politics. More than just rising prices, inflation is a scam perpetrated by the elite of both parties… against the common man. Stay tuned… Regards, [signature] Bill --------------------------------------------------------------- Like what you’re reading? Send your thoughts to [feedback@rogueeconomics.com](mailto:feedback@rogueeconomics.com?subject=Elite heist). --------------------------------------------------------------- MAILBAG Inflation and [the feds’ fake numbers]( are still on dear readers’ minds today… Just to add one more thing to the inflation discussion. Not only have wage increases not kept up with inflation on the essentials of life, progressive tax brackets don’t change to reflect the loss of purchasing power by “higher incomes.” It’s a double whammy. Currency unit purchasing power drops and a higher percent of the diluted currency is confiscated through taxation. Bracket creep is a little mentioned, but significant addition to the inflation larceny by big government. – Eric B. Is this why they no longer teach maths in state schools. Also, I seem to remember a discussion some years ago about the Mars Bar Economy, where everything was related to the price of a Mars Bar. – John S. In 1923, Germany was overwhelmed by debt to the Allies. With no prospects of paying their external debts, it resorted to hyperinflation, which eliminated the currency debt and wiped out former debts incurred by big business. It put its house in order with a gold-backed mark in late 1924, and with a sound currency and no more debt, private lenders (U.S. banks) helped create the good times from 1925 to 1928 in Germany. But in 1928, U.S., and then the banks, stopped lending Germany money and Germany went into their Great Depression, which ended in 1933, with Hitler becoming Chancellor and then Fuhrer. – Marc H. Is part of inflation that tax brackets haven’t kept up with pay increases, as Eric believes? How have the feds’ faulty numbers impacted your bottom line? Write us at [feedback@rogueeconomics.com](mailto:feedback@rogueeconomics.com?subject=Elite heist). IN CASE YOU MISSED IT… [Do you Own a Cell Phone? Then Watch this Now.]( Tell-all video reveals alarming details of bizarre mobile phone investigation. 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