Federal Reserve Admits Truth In Internal Memo: ‘Prices Continue To Rise Between 3% And 33%’

Federal Reserve Admits Truth In Internal Memo: “Prices Continue To Rise Between 3% And 33%” (Zerohedge, May 24, 2014):

We are confused: on one hand the Fed is injecting hundreds of billions of liquidity into the market, boosting the S&P to all time highs and making the rich richer (Piketty taking Excel lessons from Rogoff notwithstanding) while the economy remains stagnant because, according to the BLS, inflation is too low, and as everyone knows the biggest lament of the impoverished middle class is that “the value of my dollar isn’t being destroyed fast enough for me to feel confident about the future.” On the other hand, the very same Federal Reserve Bank (of Chicago), just announced that as a result of “prices continuing to increase between 3% and 33%” (!), beginning May 27 it is hiking the prices in its cafeteria. So, clearly prices are rising at a 33% clip due to, how does the IMF put it, lowflation, right? Oh, and harsh weather.

 

3 thoughts on “Federal Reserve Admits Truth In Internal Memo: ‘Prices Continue To Rise Between 3% And 33%’

  1. The FED is a privately held bank, it has no connections or interest in the people, just the greedy guts. I don’t know when they stepped completely into the circle of the greedy guts, but they have. They have no interest in the US economy, or of its future, it is all about grabbing as much as they can.
    Printing money now is truly destructive. The announcement by Russia and China on the de-dollarization plan is actually four years old, they have over half the world with them. We still have the Euro zone, but should they go with Russia, the dollar will collapse.
    Printing more money when the US is sitting on piles of paper money nobody wants is true madness. The entire concept of the world reserve currency is a thing of the past; electronic currencies, similar to the Sucre, have made the need for a reserve currency obsolete.
    I think the FED will find printing more money is going to backfire, it may well indeed cost us the Eurozone.
    Some of the people who no longer accept the dollar include Russia and China, Turkey, Iran, many emerging African nations. South and central American nations have dumped the dollar, so has India and Japan after the last round of sanctions on Iraq. Obama gave Japan a pass for it, whatever that means. New Zealand and Australia dumped the dollar last year. There are others, but these are the ones that come to mind. Unlike the US, all of these nations are emerging economies……
    I think the FED is making a bad mistake, and the US government is foolish to allow it.

  2. As for prices rising from 3-33%, one need only look at food prices over the past four years since Russia and China dumped the dollar. In spite of the silence, the truth the dollar is going to collapse has shown up in food prices……
    Beef, up 400%, Chicken up 300%, Fruit up 300%………..food containers and loaves of bread made much smaller to keep the prices at 3-15% higher……..they don’t fool anyone.

Leave a Comment