The Real Story of Inflation Right Now

Automatic TRANSCRIPT

What's going on guys. It is tuesday april thirteenth. And today we are talking about the real story of inflation right now. New consumer price index or. Cpi out from the bureau of labor statistics and this is the latest entrant into the great inflation debate. I want to discuss the complexity of that conversation but to do so we have to go back in time just a little bit in may of twenty twenty just a couple of months after assets crashed around the beginning of covid nineteen lockdowns. Paul tudor jones published. What i believe will go down as one of the seminal treatises in the history of bitcoin. The piece was all about what he called. The great monetary inflation quote the depth and magnitude of the economic off took modern monetary theory the direct monetization of massive fiscal spending from the theoretical to practice without any debate. We are witnessing the great monetary inflation an unprecedented expansion of every form of money. Unlike anything the developed world has ever seen for those of us in the bitcoin. Space even more significant than the diagnosis was the proposed remedy. Pj and his team had surprised even themselves by getting convinced bitcoins role in that sort of macroeconomic context. They had turned bitcoin bulls. This was a seminal moment in the institutional turn towards. Bitcoin and the essential thing wasn't just that an influential hedge fund guru got into a pet asset. It was this setup around inflation that people could see and feel for themselves a few months later stand. Druckenmiller went on cnbc echoed many of these themes. He said for the first time in a long long time. I'm actually worried about inflation. He went as far to say that he could see inflation getting his highest five percent to ten percent for a time. Now part of the reason that druckenmiller cited for this was a shift in fed policy a new willingness to let inflation run hot specifically the fed had indicated that rather than shifting monetary policy based on projected inflation. The fed would only change policy. Wants a target level of inflation had already been

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