German CPI Exposes ECB’s Low Inflation Lies – Ep 794
The Peter Schiff Show Podcast
Peter Schiff
4.7 • 5.8K Ratings
🗓️ 31 March 2022
⏱️ 45 minutes
🧾️ Download transcript
Summary
* Europe has a serious inflation problem.
* The ECB says the cost of living isn’t rising fast enough.
* Politicians and central bankers are using covid and Putin as scapegoats for inflation.
* The bigger the government, the bigger the problems.
* Gold and oil react to peace talks in Ukraine.
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Transcript
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| 0:35.9 | On Saturday's podcast, I spoke about the way the Bank of Japan lied about inflation |
| 0:41.9 | being too low in Japan to justify its reckless monetary policy so that it can keep interest |
| 0:49.0 | rates artificially low to enable the government of Japan to be able to afford the service |
| 0:55.7 | of its exploding national debt. |
| 0:58.4 | On this podcast, I want to talk about similar lies told by the ECB because I was looking |
| 1:04.6 | at the inflation data that came out today from Germany. |
| 1:09.1 | Today, we got the CPI numbers for March for Germany. |
| 1:14.6 | The month over month increase was 2.5%. |
| 1:18.5 | That is an enormous jump in one month. |
| 1:20.9 | Obviously, we expected a big number because March we had an explosion in energy prices |
| 1:27.0 | and so that was reflected in the total number for March. |
| 1:31.0 | But look at the year over year increase in consumer prices, 7.3. |
| 1:36.8 | That is the highest rate of inflation in Germany in about 30 years. |
| 1:41.4 | We also got some inflation data out of Italy. |
| 1:44.6 | This was February data so it's a month behind and it's producer prices. |
| 1:49.1 | They only moved up by 0.2% on the month but remember March is going to be the big jump |
| 1:54.9 | and I'm sure we're going to see that next month when Italy releases the March data but |
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