Loading ...Re your part:
“it’s the amount of money printed all round the world, that says Tangibles will go way up. ”
Comment:
What you say is logical but lets give it more thought. They say behind every inflation is a deflation. Look at 1929 deflation after the excess printing 1913 to 1929.
Loans that don’t get repaid is deflationary. Whenever the stock market collapses, lots of printed money evaporates to money heaven. Whenever the stocks and real estate prices go up, that also is like more printing without the printing.
I once heard Greenspan say, I’ll never forget, something like, “We never thought we would ever have a problem with deflation, because can print all we want”. That day I figured he was lying or ignorant. James Dines long ago said he knew Greenspan and he should be a plumber. 🙂
After the gold cut off in ’71 wages kept up with inflation, is many cases surpassed inflation. TPTB claimed wages were too high and causing the inflation. After ’80 the objective was lower inflation thru cheaper imports and union busting. Now here they are all in a panic mode about no wage inflation.
Besides all that, the climbing prices after ’71 was because of printing 1034 to 1971. After 1971 TPTB REVERSED printing. They raised rates ’70 to ’80 5% to 21% to SUCK money OUT of the system. By definition, removing money supply is deflation, increasing money supply is inflation. The pricing is another matter. Lag times between action and reaction.