To hear Federal Reserve officials, politicians and mainstream financial media pundits tell it – there is no inflation.

In fact, the consumer price index remains “stubbornly low” according to those who view rising prices as an economic good. But inflation defined correctly is rampant. In fact, it is at all-time record levels.

Strictly speaking, inflation is an increasing money supply, and by that measure, it hs set records for five straight months.

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