56. Dangerously low U.S. emergency oil supplies could reignite inflation as Fed ponders a pause

  Welcome back to Milkshakes, Markets, Madness. Additional weekly content, including a Monday “Peek at the Week”, a Midweek Update, and the NEW “Madness Edition” series, are all available exclusively on the YouTube Channel. If you are new to the show please read the LEARN MORE section which follows the show description and chapter timestamps further below. On our website there is an embedded video above and an audio player at the bottom of the page DRAINED BONE DRY It was once famously said that, the dollar is our currency and the rest of the world’s problem. Perhaps true, but one problem shared by all lately has been inflation. Although the U.S. government lacks the responsibility to reign in the fiscal profligacy causing the ever-rising cost of living, it does have the power to reduce the price of at least one thing. Oil. Correction, the power is in the hands of the President, and the magical power he controls is the Strategic Petroleum Reserve (SPR). So, what’s a President to do with such a power when their approval rating is at a record low? Simple. Drain the SPR and sell the oil to hopefully bring down the price. But, has Biden crossed a red line with this attempt to win votes? Is the recent move higher in oil price the beginning of runaway inflation or will the central bank put out the flames with one final rate hike? These pressing questions, and more, are tackled by the Milkshakes Duo in a broad weekend discussion that covers global monetary policy, oil price manipulation, and the RE-dollarization of the world. Learn more on the latest full-length episode of Milkshakes, Markets, Madness. https://youtu.be/_F6Fq2kWs14 ————————————– FULL-LENGTH EPISODE (Season 01, Episode 40) ————————————– 00:00 – Video intro (26 seconds) 00:28 – Title screen and disclaimer 00:30 – Channel segment explainer 02:23 – Inflation data reaction 04:26 – Rate hike odds 09:39 – Lag effect 11:52 – Credibility and animal spirits 16:20 – Oil and the SPR 26:18 – Power to the President 31:06 – ECB hike fuels dollar rally 33:18 – Argentina dollarization 37:34 – Austerity and prosperity 41:53 – The wrap-up 43:24 – Outro 43:38 – Disclaimer ——————— LEARN MORE ——————— Every week, Brent Johnson and Jon Kutsmeda invite you to share a laugh at their favorite Twitter tantrums, and the madness of financial markets. If you are tired of drawn out, jargon filled, boring financial podcasts, then tune in for Milkshakes, Markets, & Madness to enjoy the lighter side and off-topic discussions that include sports, politics, memes, travel, and whatever fun they find during the week. For anyone who is unfamiliar with our hosts, or new to the Dollar Milkshake Theory, please visit the About Us section of this website for additional links ...