More Printing and Easing. Prices Are Going Higher.
The money supply as measured by M2 is up 3.4x over the past 20 years.
Physical gold - perhaps the best hedge against money printing - is up 5.8x over the same period.
M2 has been expanding since early February and my guess is that trend is here to stay for 2024 and 2025. Therefore, expect CPI to continue to move higher as should the price of gold as should the 10-year yield.
