‘Janet Yellen’s Flip-Flop and What She’s Really Telling Us’
(Public Domain photo)
Is inflation coming?
Yes.
It has already been happening.
But US Treasury Secretary Yellen is not, publicly at least, now very concerned about it as the following indicates:
Janet Yellen’s Flip-Flop and What She’s Really Telling Us
May 5, 2021
Treasury Secretary Janet Yellen sent markets into a tizzy on Tuesday when she said interest rates may have to rise to keep the economy from overheating with all the government stimulus. But later in the day, she walked those comments back, claiming inflation isn’t going to be a problem and insisting that she wasn’t suggesting or predicting rate hikes.
Yellen’s flipflop is telling. Even if inflation is an issue (and it is), there isn’t a darn thing the Federal Reserve can do about it.
Yellen made her first comments during an event hosted by The Atlantic magazine. She warned that all of the government spending coming down the pike could cause the economy to “overheat.” That’s code for “it could cause price inflation to surge.”
It may be that interest rates will have to rise somewhat to make sure that our economy doesn’t overheat, even though the additional spending is relatively small relative to the size of the economy.”
Yellen’s comments spooked markets that are already worried that the Fed might tighten monetary policy sooner than later to deal with increasing price inflation. Tech stocks in particular were hammered after Yellen’s talk.
But the Treasury secretary walked back her comments later in the day. She told a Wall Street Journal CEO Council event that she doesn’t anticipate an inflation problem and she parroted Federal Reserve Chairman Jerome Powell’s mantra that any price increases will be “transitory.” …
I think she’s wrong … There is an inflation problem and the Fed can’t do anything about it. …
Anybody who has been to the grocery store, the gas station, or Home Depot has experienced big price increases first hand. The question is: are these really “transitory” price hikes due to supply chain bottlenecks as the economy reopens and a return to normal oil demand, as Yellen insists?
She had better hope so. https://schiffgold.com/commentaries/janet-yellens-flip-flop-and-what-shes-really-telling-us/
Government policies related to COVID-19 and other debt plans are factors. Notice the following from last Fall:
Global Inflation Watch
November 28, 2020
Since late-March every category has seen increases in prices. Sector and specialist analysts will always claim that there are identifiable reasons why prices for an individual category or commodity have risen. But the fact is that with the exception of the dollar and the other fiat currencies listed in the table, all prices have risen. This cannot happen without the dollar and these currencies losing purchasing power. …
The rise in commodity prices varies considerably, but at a time of global economic slump, they are all higher not just in dollars, but measured in the other currencies represented in the table, which can only be a reflection of monetary debasement. …
Hyperinflation of the dollar is here
It is now impossible to envisage the US government and the Fed limiting further monetary expansions. Their Keynesian creed tells them that to do so would be disastrous for the economy. By relying on macroeconomic beliefs upon which they base their policy decisions they cannot come up with an answer that ultimately saves the currency and the economy. They do not appear to realise that by transferring wealth to a generally non-productive government sector, monetary inflation impoverishes the productive capacity of the economy.
It is against this background that having seen one enormous budget-busting stimulus package from the US government, we shall shortly see another. …
US government finances since March, when the covid response commenced, leading to a fall in tax revenue and an increase in government spending. …
Along with the rest of the world, America has entered a second wave of infections, which will oblige the government to deploy a second similar, or even greater stimulus. The second covid wave is likely to lead to a further fall in tax revenues, as a result of bankruptcies from the initial coronavirus wave combining with the effects of the second. There is also a growing realisation that the economic problems from the virus alone will continue beyond the second wave. …
The US government’s dependency on inflationary financing is already a commitment with no palatable escape. Politicians are trapped by their earlier electoral promises. Assuming Biden is confirmed as the next US President, his left-leaning socialistic policies can only accelerate the debasement process. https://seekingalpha.com/article/4391845-global-inflation-watch
The Birch group reported the following:
Why a Hyperinflation “Time Bomb” Could Explode in 2021
November 25, 2021
No matter who is president next year – regardless of whether Biden’s election is confirmed over the next couple of weeks – he will have a potential economic “time bomb” on his hands …
Soaring Inflation Could Be on Its Way Back
Assuming vaccines for COVID-19 make their way into the population, it’s quite possible that a long period of pent-up consumer demand could explode. …
Martin Wolf quotes a snippet out of the book “The Great Demographic Reversal” that predicts up to 10% inflation for next year:
As in the aftermath of many wars, there will be a surge in inflation, quite likely more than 5 per cent, or even on the order of 10 percent in 2021.
The U.S. hasn’t seen inflation rise higher than 10% since 1980. So jumping from 1.2% overall CPI to double digits in such a short period of time would certainly send shockwaves through the economy. …
Robert Wenzel summed up this dire outlook by writing: “The theme of 2021 will be soaring price inflation.”
We can hope he’s wrong, because this still has yet to play out, but it’s best to prepare in case he’s right.
Protect Yourself From “1980s Hyperinflation”
If your savings don’t include them already, “hard assets” like gold and silver have a history of faring well during market turmoil and times of inflation. https://www.birchgold.com/news/hyperinflation-time-bomb-2021/
The history of the US government increasing debt, which it has accelerated because of policies related to COVID-19, is setting the stage for more inflation.
The media and the populous will demand more ‘stimulus’ –which means more debt.
If interest rates rise high enough, the US government will be shown to be truly bankrupt.
Republicans and Democrats will push for it and Congress will go for it. And the President of the United States will sign one or more bills for it.
Sadly, many in the media and government act like printing up money is really the solution for the US economy because of the effects of COVID-19 policies.
USA government leaders basically hope to not pay the debt back. But if some payment is needed, they hope that it will be in inflated dollars worth less than what the USA borrowed.
Foreign creditors will not be pleased.
Not paying back debt is wicked:
The wicked borrows and does not repay … (Psalm 37:21)
This diluting of the value of currency (called “dross” anciently), which is what the USA has been doing with its debt and quantitative easing policies, is condemned in the Bible.
4 Take away the dross from silver (Proverbs 25:4a).
22 Your silver has become dross, Your wine mixed with water. (Isaiah 1:22)
25 I will turn My hand against you, And thoroughly purge away your dross, And take away all your alloy. (Isaiah 1:25)
18 “Son of man, the house of Israel has become dross to Me; they are all bronze, tin, iron, and lead, in the midst of a furnace; they have become dross from silver. 19 Therefore thus says the Lord God: ‘Because you have all become dross, therefore behold, I will gather you into the midst of Jerusalem. 20 As men gather silver, bronze, iron, lead, and tin into the midst of a furnace, to blow fire on it, to melt it; so I will gather you in My anger and in My fury, and I will leave you there and melt you. 21 Yes, I will gather you and blow on you with the fire of My wrath, and you shall be melted in its midst. 22 As silver is melted in the midst of a furnace, so shall you be melted in its midst; then you shall know that I, the Lord, have poured out My fury on you.’” (Ezekiel 22:18-22)
Although the Bible warns against using dross and diluting the money supply, many modern ‘experts’ have a different view. The wrong views on economics will lead to economic problems and ultimately the total crash of the dollar of the USA. China, Russia, and others see some of this.
Printing more and contributing to hyperinflation is not going to solve the debt problems of the USA. It has not worked for Zimbabwe, which has been doing this on and off for some time.
The USA, because of the role of its dollar, can look to get away with this for longer than other nations, but the end result will be much worse than most think.
Eventually, interest on the acknowledged debt will rise and become a viscous circle that will spiral to the death of the US dollar.
The Bible itself predicts food inflation with the ride of the black horse of the Apocalypse. Revelation 6:5-6 indicates that there will be food, but that it will be quite expensive (food-price inflation).
5 When He opened the third seal, I heard the third living creature say, “Come and see.” So I looked, and behold, a black horse, and he who sat on it had a pair of scales in his hand. 6 And I heard a voice in the midst of the four living creatures saying, “A quart of wheat for a denarius, and three quarts of barley for a denarius; and do not harm the oil and the wine.” (Revelation 6:5-6)
Consider also that food inflation is associated with the ride of the third horse, the black horse. And while that is commonly called the black horse of famine, the word famine is not in Revelation 6:5-6. That does NOT mean that there will not be any famines–for there will be–but food inflation will be considered the cause by government overprinting of money, crop matters, trade issues, etc. and most will NOT attribute it to the ride of the third horseman or the opening of the third seal.
But yes, some will thus die as they will not be able to afford it, while others will survive but struggle.
As far as getting away indefinitely for increasing debt, the Bible warns that although a highly indebted land will look like it is getting away with it for a while (“it tarries”), it also points to sudden destruction from creditors:
2 Then the Lord answered me and said:
“Write the vision
And make it plain on tablets,
That he may run who reads it.
3 For the vision is yet for an appointed time;
But at the end it will speak, and it will not lie.
Though it tarries, wait for it;
Because it will surely come,
It will not tarry. …6 “Will not all these take up a proverb against him,
And a taunting riddle against him, and say,
‘Woe to him who increases
What is not his — how long?
And to him who loads himself with many pledges’?
7 Will not your creditors rise up suddenly?
Will they not awaken who oppress you?
And you will become their booty. (Habakkuk 2:2-3,6-7)
The leadership of the USA is lying to itself and everyone else if it thinks it will be able to get away with what it is doing without a massive cost.
The Apostle Paul warned:
7 Do not be deceived, God is not mocked; for whatever a man sows, that he will also reap. 8 For he who sows to his flesh will of the flesh reap corruption … (Galatians 6:7-8)
The USA will sow what it reaps.
Since many leading so-called ‘economists’ are political hacks and/or have a political agenda, do not expect too many prominent ones to have sufficient influence to resolve the problems in the USA.
The truth is that the USA is setting itself up for massive inflation (as well as food shortages).
Hyperinflation will hit the USA and its results will be worse than almost anyone realizes.
Some items of possibly related interest may include:
Four Horsemen of the Apocalypse What do each of the four horseman of the Apocalypse represent? Have they began their ride? Did Jesus discuss the any of this? Might their rides coincide with the “beginning of sorrows? Do they start their ride prior to the Great Tribulation? Did Nostradamus or any other ‘private prophets’ write predictions that may mislead people so that they may not understand the truth of one or more of the four horseman? There is also a related YouTube video titled Sorrows and the Four Horsemen of the Apocalypse.
The End of US Dollar Dominance Is the USA losing its economic status? What about the petro-gold-yuan? A related video is also available: US Dollar being challenged by Gold-Petro-Yuan.
COVID 19 is NOT the End, but could it be TEOTWAWKI? The novel coronavirus called COVID-19 is wreaking havoc around the world. Many states of the USA as well as countries in Europe are on lockdown with shelter in place /shelter in residence requirements. In France, a form is required when you are not at your house. In Spain, drones are being used to warn people who are outside to got back to their homes–does that bring up feelings of ‘Big Brother’? Italy, France, and other areas are using police and/or military force to encourage people to stay inside. According to the Bible could this be the end? If not, what has to happen first? Have the second and third of the four horsemen of the Apocalypse started their ride? Could COVID-19 be the fourth horseman? Why or why not? Could we be seeing The End of the World as We Know It (TEOTWAWKI) like the R.E.M.’s 1987 single song discussed? Do Christians need to fear? What did Jesus teach? What did the Psalmist teach? This is a video. Here is a link to a version in the Spanish language: Corona 19 no es el final PERO es el TEOTWAWKI.
The End of US Dollar Dominance Is the USA losing its economic status? What about the petro-gold-yuan? A related video is also available: US Dollar being challenged by Gold-Petro-Yuan.
21 items to prophetically watch in 2021 Much is happening. Dr. Thiel points to 21 items to watch (cf. Mark 13:37) in this article. Here is a link to a related sermon video: 21 Items to Watch in 2021.
Spiritual Samaritans: Old and New Who were the Samaritans? Do the represent true Christianity or something else? Here is a link to a related sermon: USA in Prophecy: Samaria.Who is the King of the North? Is there one? Do biblical and Roman Catholic prophecies for the Great Monarch point to the same leader? Should he be followed? Who will be the King of the North discussed in Daniel 11? Is a nuclear attack prophesied to happen to the English-speaking peoples of the United States, Great Britain, Canada, Australia, and New Zealand? When do the 1335 days, 1290 days, and 1260 days (the time, times, and half a time) of Daniel 12 begin? When does the Bible show that economic collapse will affect the United States? In the Spanish language check out ¿Quién es el Rey del Norte? Here is a link to a video titled: The Future King of the North.
USA in Prophecy: The Strongest Fortresses Can you point to scriptures, like Daniel 11:39, that point to the USA in the 21st century? This article does. Two related sermon are available: Identifying the USA and its Destruction in Prophecy and Do these 7 prophesies point to the end of the USA?
Who is the King of the West? Why is there no Final End-Time King of the West in Bible Prophecy? Is the United States the King of the West? Here is a version in the Spanish language: ¿Quién es el Rey del Occidente? ¿Por qué no hay un Rey del Occidente en la profecía del tiempo del fin? A related sermon is also available: The Bible, the USA, and the King of the West.
Who is the King of the North? Is there one? Do biblical and Roman Catholic prophecies for the Great Monarch point to the same leader? Should he be followed? Who will be the King of the North discussed in Daniel 11? Is a nuclear attack prophesied to happen to the English-speaking peoples of the United States, Great Britain, Canada, Australia, and New Zealand? When do the 1335 days, 1290 days, and 1260 days (the time, times, and half a time) of Daniel 12 begin? When does the Bible show that economic collapse will affect the United States? In the Spanish language check out ¿Quién es el Rey del Norte? Here are links to two related videos: The King of the North is Alive: What to Look Out For and The Future King of the North.
The Great Monarch: Biblical and Catholic Prophecies Is the ‘Great Monarch’ of Catholic prophecies endorsed or condemned by the Bible? Two sermons of related interest are also available: Great Monarch: Messiah or False Christ? and Great Monarch in 50+ Beast Prophecies.
Will the Anglo-Saxon-Celtic Nations be Divided and Have People Taken as Slaves? Will the lands of the United States, United Kingdom, Canada, Australia, and New Zealand be divided? What about Jerusalem? What does Bible prophecy teach? Are there non-biblical prophecies that support this idea? Who will divide those lands? Who will end up with the lands and the people? Here is a link to a video titled Will the USA and other Anglo-nations be Divided and Their People Made Slaves? Here is a related item in the Spanish language ¿Serán divididas las naciones anglosajonas?
British are the Covenant People What do ‘British’ and ‘Britain’ mean in Hebrew? Are the descendants of the Anglo-Saxons people of the covenant? Does the British royal family connect to the throne of David? What does the Bible teach? What does history show us? Is there any DNA evidence related to British-Israelism? When did Christianity make it to the British Isles? Could Jeremiah have made it to the British Isles? What type of Christians made it to the British Isles? Did the last King of England believe in British Israelism?
Brexit Happened: Now What? At 11:00 pm January 31, 2020, the United Kingdom formally left the European Union. Many celebrated, while many mourned. Nigel Farage stated, “This is the greatest moment in modern British history.” What will happen to the United Kingdom? Will the UK be involved in trade deals with the United States of America and the Europeans? Will the UK regret the BRitish Exit (Brexit) from the EU?What will happen with the European Union? Is Europe prophesied to have a great army and many ships? Does the Bible prophesy a reorganization of Europe? Does it prophesy that the Europeans will become a conquering military power? Is the United Kingdom prophesied to be conquered? How does the Bible name the British-descended peoples? Was the British Empire the largest in world history? Was Brexit predicted by Church of God leaders in 1970 and the early 1990s? Will the European Union be negatively affected financially by the departure of the UK? Will this turn out well for the UK or the Europeans? Dr. Thiel addresses these issues and more in this video.
Canada in Prophecy: What Does Bible Prophecy, Catholic Prophecy, and other Predictions Suggest About the Future of Canada? There are prophecies that suggest involvement with Canada. And many are not positive about its future. A sermon of related interest is also available: Canada in Prophecy.
Does God Have a 6,000 Year Plan? What Year Does the 6,000 Years End? Was a 6000 year time allowed for humans to rule followed by a literal thousand year reign of Christ on Earth taught by the early Christians? Does God have 7,000 year plan? What year may the six thousand years of human rule end? When will Jesus return? 2028 or or 2031 or 20xx? There is also a video titled 6000 Years: When will God’s Kingdom Come? Here is a link to the article in Spanish: ¿Tiene Dios un plan de 6,000 años?
Might the U.S.A. Be Gone by 2028? Are there prophetic reasons to believe that the USA will not last two complete presidential terms? Yes. There is a tradition attributed to the Hebrew prophet Elijah that humanity had 6,000 years to live before being replaced by God’s Kingdom. There are scriptures, writings in the Talmud, early Christian teachings that support this. Also, even certain Hindu writings support it. Here is a link to a related video: Is the USA prophesied to be destroyed by 2028?
The Great Tribulation: What Happens First? What events have happened? What are some events that are now happening? And what events need to happen for the Great Tribulation to start? Here is a link to a related sermon video: Counting Down to the Great Tribulation.
When Will the Great Tribulation Begin? 2021, 2022, or 2023? Can the Great Tribulation begin today? What happens before the Great Tribulation in the “beginning of sorrows”? What happens in the Great Tribulation and the Day of the Lord? Is this the time of the Gentiles? When is the earliest that the Great Tribulation can begin? What is the Day of the Lord? Who are the 144,000? Here is a version of the article in the Spanish language: ¿Puede la Gran Tribulación comenzar en el 2020 o 2021? ¿Es el Tiempo de los Gentiles? A related video is: 2021: The Great Tribulation or the Great Reset?
Biden-Harris: Prophecies and Destruction Can the USA survive two full presidential terms? In what ways are Joe Biden and Kamala Harris apocalyptic? This book has hundreds of prophecies and scriptures to provide details. A Kindle version is also available and you do not need an actual Kindle device to read it. Why? Amazon will allow you to download it to almost any device: Please click HERE to download one of Amazon s Free Reader Apps. After you go to your free Kindle reader app (or if you already have one or a Kindle), you can go to: Biden-Harris: Prophecies and Destruction (Kindle) to get the book in seconds.
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