Merry-Go-Round of Money Printing Madness – Craig Hemke

Posted at 9:34 AM (CST) by & filed under

By Greg Hunter’s

Financial writer and precious metals expert Craig Hemke has made many correct predictions over the years.  Hemke studies hard and pours over detailed information to make his calls.  Hemke points out his biggest call is easy to see when considering the massive money printing going on at the Federal Reserve and historic spending in Congress.  The latest stimulus offer in Congress is a staggering $1.8 trillion.  Keep in mind, that is on top of trillions of dollars already spent in 2020 fighting CV19.  Hemke explains, “That’s $1.8 trillion!  When I was in college 35 years ago, the Reagan budget deficit was $250 billion, and, oh gosh, it was the end of the world!  How can they do $250 billion?  ‘Trickledown’ economics and all this stuff, and now we are talking 10 times that, and it’s like, yeah, whatever.  The moral of the story is there is no going back.  The Fed is telling you they are going to do whatever it takes to prompt inflation and to flush as much cash out there as possible to prop up their system.  The politicians are going to give them the debt to monetize. . . . If Trump wins, you are going to get this $1.8 trillion in new spending, but if Biden wins, you are not only going to get that, you are going to get the Green New Deal, universal healthcare and all this other jazz.”

But no matter who wins in November, the Fed is going to fight debt destruction, or so-called deflation.  That means massive money printing to buy bonds and everything else.  Hemke says, “Fed Chairman Jay Powell, and all the other central bankers, are telling you they are going to do everything they can to keep that from happening.  Powell is begging for new Treasury debt to monetize.  If you look at Powell’s speech in Jackson Hole at the end of August, he was saying we are not going down this path of deflation because it becomes a vicious cycle.  That’s where you get deflation, and you expect more deflation and that brings about more deflation, and you get even higher expectations of deflation.  That’s what Japan has been doing the last 30 years.  Powell has said we are not going to do it even if it means unconventional policy like helicopter money.  You have heard this bantered about now, and it’s just putting straight cash into your bank account. . . . These things are all coming.”