Tucker looks at how the inflation we’re seeing now started and how the US government continues making it worse. Highlights include:

“At exactly the moment when the emergency powers they awarded to themselves to ‘fight covid’ started to wane, our leaders began pushing for conflict with Russia, and then, on the basis of that conflict, they assumed historic war powers.”

“Without even pausing, the Biden administration declared total economic war on a sovereign country. No American had been killed, the United States had invaded or attacked. And yet, with no meaningful public debate or congressional authorization, the Biden administration destroyed that country’s currency, then removed it from the international banking system, then impoverished its population.”

“Then the administration began seizing the property of people affiliated with that country without a trial or due process of any kind without even bother in to explain what crime they had committed.”

“No population has ever been more skillfully manipulated than our population is being manipulated right now.”

“But even with the tech monopolies on the case full time, there are limits. Some topics cannot be hidden, and inflation is one of them. Google can delete all the search results it wants, but you still know what hamburger and gasoline cost because you go to the store. You know exactly how bad inflation is, and it’s bad. In fact, inflation is so high right now, that even affluent people are worried about it.”

“So, what’s causing it? What is the root of the inflation? If you want to know the answer to that question, the fastest way to get it is to check to see what politicians are denying. Whatever they claim is not the cause of the inflation almost certainly is the cause of the inflation.”

“Inflation is a function of money supply. The more money you have in circulation, the less that money is worth. Even Joe Biden understands that. The month after Biden became president, the supply of US dollars in circulation increased more than it ever had before in a single month, and then it kept going higher, month after month after month, as the administration and the congress kept the money taps open. And that’s why we have historic inflation now, because they printed too much money, it’s not complicated. But it’s not the whole story. It did not start with Joe Biden, to be fair.”

“The fed was fully aware of this, they’re not stupid, they knew they were causing these trends and that most of these trends were dangerous and bad for America, but the truth is nobody could stop it. Fed governors understood that markets would tank if they tried to pull back. So it was really a classic ponzi, it was criminal mismanagement of our economy, but nobody could stop doing it for fear the whole thing would collapse. And now we’re at the end stage, the fed is out of tricks.”

“Now, the truth is, Vladimir Putin did invade Ukraine, that’s true. That’s bad. But that’s not why you can’t afford to fill your tank.”

“It was the White House and we should say the congress’ reaction to the invasion that is roiling our economy, that’s true. So, among many other things, the White House just banned Russian oil imports, for example. Oil prices immediately rose, that’s what happens when you shake up a market like that. Americans immediately suffered. We were told, many people told us it’s worth it because this is a moral victory against Putin, and some people took solace in this. But you have to wonder, how exactly is this a moral victory against Putin? Think about it for a minute. Russia is a major oil producer. That would mean that higher oil prices help Putin.”

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