Monday, September 20, 2010

Another Insider Warns on Inflation

First Alan Greenspan turns bullish on gold. A Council on Foreign Relations economist, Benn Steil, comments that gold may become the global currency (though he may be an outlier at the CFR). Now, Philippa Malmgren shows up on CNBC getting a sound bite in warning about inflation. I have profiled Malmgren before. She is a top insider. She was a member of the Plunge Protection Team during the Bush (the son) Administration. Now every elite corporation in the world has hired her as a consultant. Her warning on inflation is not completely new, but it is noteworthy she is taking the warning public on CNBC.

Also note Frederick Lane's warning on bonds. He is so right there.


  1. For anyone who does not have time to follow the links, the Benn Steil commentary occurred in 2007.

    "July 11, 2007 In a recent article in Foreign Affairs magazine, economist Benn Steil says most national currencies should be eliminated because they end up being manipulated by politicians, and do more economic harm than good."

  2. Where is there any indication of inflation? It appears, from looking at economic numbers, that the core CPI is close to zero and in more danger of going into deflation (which, for anyone borrowing money like the US, is a bad thing since it drives up repayment costs).
    I would like to know what these people see in the figures that would show inflation is coming.
    Malmgren was part of the administration that brought us this economic catastrophy and Fred Lane's job is to pump stocks for Raymond James. Not exactly a group who inspires confidence, if you ask me.
    Of course, Greenspan being bullish on gold would be the counter-indicator for me, if I owned gold I would be selling because of his endorsement.