Here is a look at gold, inflation and the Federal Reserve.
July 17 (King World News) – Peter Boockvar: As Jay Powell is likely going to remain in his seat until May 2026, I’m not going to add much here as I believe we all agree that it would be a mistake if he was fired. Hat tip to my friend Brent Donnelly for reminding me of a speech that Arthur Burns, the Fed Chair under Richard Nixon and during that inflationary time, gave in 1979 titled “The Anguish of Central Banking.” This was most relevant to the current circumstances:
“In most countries, the central bank is an instrumentality of the executive branch of government – carrying out monetary policy according to the wishes of the head of government or the ministry of finance. Some industrial democracies, to be sure, have substantially independent central banks, and that is certainly the case in the United States. Viewed in the abstract, the Federal Reserve System had the power to abort the inflation at its incipient stage 15 years ago or at any later point, and it has the power to end it today.
At any time within that period, it could have restricted the money supply and created sufficient strains in financial and industrial markets to terminate inflation with little delay. It did not do so because the Federal Reserve was itself caught up in the philosophic and political currents that were transforming American life and culture.”
Note that it was the summer of 1972, months before the November election that Nixon was really cajoling Burns for easy money and you can see the result. CPI in June 1972 went from 2.7% to 12% by December 1974.
KING WORLD NEWS NOTE: Easy Money Inflation Chart From The 1970s
Gold
Graddhy out of Sweden: Gold went sideways & now tagging red parabolic trend line again.
KING WORLD NEWS NOTE: Gold’s Steady Parabolic Base Indicates Even Greater Fiat Debasement Is Still To Come
Shared this setup first time at blue breakout. Few believed.
Still on track.
If red parabolic trend line is to hold, the only way is up.
Gold now has to take a decision here very soon.
Michael Oliver’s Jaw-Dropping Predictions For Gold Miners
To listen to Michael Oliver’s jaw-dropping predictions for the price of silver, gold, and the mining stocks in one of his greatest interviews ever CLICK HERE OR ON THE IMAGE BELOW.
JUST RELEASED!
To listen to Alasdair Macleod discuss the massive upside breakout in the silver market and much more CLICK HERE OR ON THE IMAGE BELOW.
© 2025 by King World News®. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. However, linking directly to the articles is permitted and encouraged.
