Powell Confirms Fed Policy of Halving Value of Dollar Every Thirty Years.

In this report I cover the early market action from London on Thursday, March 22nd, 2018. I look at the precious metals, the dollar, stocks, bonds and cryptocurrencies. I also look at the technical picture for the dollar index, the dow jones industrial average and the price of gold.

I also review the Federal Reserve's FOMC decision to raise the target for the federal funds rate by a quarter of one percent to 1.5% yesterday. I note that the new Fed chairman Jay Powell continues to peddle the notion that 2% inflation or debasement of the currency is somehow a good thing for the economy. I point out that the only sector of the economy that benefits from this inflation is the sector that benefits the most from the fiat money system and that is of course the financial/banking sector.

My conclusion is that the Fed is so arrogant that they think they can keep that thermostat, so to speak, under control and that no economic and financial disasters will result from this policy of ever increasing debt and currency debasement.

Chairman Powell should note that in the real world outside Wall Street and D.C. there are enormous consequences to this policy of inflating the currency for ever.