The definition of inflation, the dollar is losing purchasing power. The question is it temporary or part of a longer term trend, which Gary and I believe to be true. The Fed’s balance sheet is at $8 trillion. The debt is at $30 trillion. Yellen is begging for a debt ceiling increase. Will the US default? Not gonna happen. Fed Chair Powell acknowledged that inflation is higher than expected, we’re on an unsustainable path and there’s good reason for alarm. Therefore, the case for gold becomes more compelling by the day. Today the 10 year yield went down and so did gold, a true anomaly. Federal funds rate hasn’t moved all year and probably won’t until 2023. Where’s the taper, Powell says it’s not gonna happen.