Forget hyperinflation; Why the U.S. is becoming Japan, not Zimbabwe – Michael Lee (Part 1/2)


As President Joe Biden commits to $6 trillion of stimulus over the next decade, worries of inflation, or even hyperinflation, from both unprecedented monetary and fiscal stimulus take center stage in financial headlines.

Fiscal stimulus from the Biden Administration includes the $1.8 trillion American Families Plan, the $2.3 trillion American Jobs Plan and the $1.9 trillion American Rescue Plan.

Michael Lee, founder of Michael Lee Strategy, said that these hyperinflation fears are overblown, because the velocity of money simply isn’t there.

“I don’t think, in the U.S., we’re going to have meaningful inflation ever again. We’ve Japanified our country. What you’ve done through the endless printing of money, it hyperinflates financial assets, and it crushes the velocity of money through the system. It’s the velocity of money, in my opinion, that is the key driver of inflation,” Lee told David Lin, anchor for Kitco News.

0:00 – Tax hikes
5:27 – Raising minimum wage
7:50 – Inflation

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It is sad to note that for every positive event that happens to a country or state, there is a commensurate negative effect. The California gold rush undeniably brought progress to the place which was only a backward settlement before it all began. Roads were opened, buildings erected and from a simple haven for settlers, California was declared a state. New settlers developed land that was previously owned by the natives forcing them to relocate to the more remote areas.

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Of all the elements dug out of the earth, none is as priced and as celebrated as gold. Many went through a lot of hardships and even lost their lives in quest of it. Some persons even break laws just to acquire it. Nations spend much to procure it. This valuable metal has several attributes that is a factor to its worth. Yet, evidently, the most dominant facet is that, through the years, across cultures and continents, this particular element, whether in its pure form or not is equated with wealth, power and rule.

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Oil, which made Middle East extremely progressive and wealthy, is dubbed as black gold. It is proof that anything that valuable is automatically associated with this element. The strength of every national treasury is backed by how much gold it has. The value of a nation’s currency is also determined by their gold holdings. Reason enough for China and others to spend much just to have as much gold as it could in its reserves. Individuals and whole countries alike, then and until now, put the same importance in gold.

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