Today, we’ve got the big announcement. Oh my gosh, the President of the United States has got a brand new plan to battle inflation. And what he’s going to do is he’s gonna put more money into your pockets.
I know, I know. It sounds counterintuitive. It sounds like something kooky. And I’ll break that down for you here.
But the President’s got a brand new attitude, if I can paraphrase a song that was once used by Dr. Laura. Anyways, you have a situation on your hands right now where Jay Powell, who is the chairman of the Federal Reserve, goes in to testify to the Senate Finance Committee, and God loves them. He’s got a job that I wouldn’t want if you paid me in, in gold itself. But the fact of the matter is, he goes in, he testifies in front of I mean, people as disparate as Sherrod Brown from Ohio, to our good friend, John Kennedy from Louisiana.
And then of course, you’ve got Lizzie Warren, who I famously like to say, took an axe and gave the taxpayers 30 wax, she’s absolutely out of her mind. And no wonder the financial markets are totally freaked out, they’re totally freaked out. Because everything that’s happening in the financial markets, everything that’s happening in the markets, has been distorted by the act of government, for the most part, there is nothing the average consumer, you, me or anybody else can do to cause the market to deform. Government can do it 100% of the time, they’ve got the unique ability, because they own the printing press. They have the fiat currency, which means it’s just money backed by nothing.
They can do whatever they want in terms of regulation. Now, President Biden is running around saying we’re gonna give everybody a tax holiday, the reality is, you’re gonna get 18 cents off a gallon. So do the math, you’re smart. Say you have a 10 gallon gas tank. I want to do simple math here, you got a 10 gallon gas tank, how much money are you saving across the the spectrum of the fill up that you’re going to do? Dollar $1.80. So let’s say you fill up your car twice a week $3.60. The mission of what’s going on with our government is abundantly simple. Okay, they’re tightening rates to make borrowing more expensive, so you don’t have more money to spend. So think of a small dish with water in it and you take a sponge, and you put it into the dish, it’s a dry sponge, and it absorbs all the water.
That’s what the Fed is trying to do.