Shouldn't we have a credible inflation rate at least for appearances sake? That way we can say there is some correlation, even if it is a false one. Considering endless QE's, multiple perpetual wars, no balanced budget again in this lifetime, astronomical expanding national debt, unlimited foreign aid, monetary expansion, and so forth. If this were under Bretton Woods, would there not be already double digit inflation? Is it because the idea of an inflation rate % of an unreal money is itself an absurdity?
Gold-bugs would say there IS inflation. The recession should cause DEFLATION. Fewer goods sold. Fewer people employed. Foreclosures and bank sales. Fear and thrift. The market price of things should drop to a point where the demand finally kicks in. Many wish for that deflationary spiral, so they can buy when the blood is int the streets etc. Instead the increase in the money supply is forcing dollar demand higher.
Fed cant snap their fingers and print inflation.
People companies have to chase. Animal spirits.
QE just says at the bank these days.
That's why gold is out of step. Needs to correct 50% to line up with inflation