from KingWorldNews:

February concluded with the precious metals mining companies index, the HUI, retaining the lead for both the month and year to date. The major U.S. equity indexes were a close second for the month, but lag far behind the HUI for the full year. Moving up toward the head of the pack was a new contender, commodities. The Thomson Reuters/Jefferies CRB Commodity Index, a proxy for the sector, advanced about 7% for the month….

The move in commodities is noteworthy. The Fed has made it a policy objective to foster an annualized 2% growth in the “inflation rate” as defined by a rise in prices. To be clear, we are not in the camp that believes that the CPI is an accurate measure of prices, and we certainly don’t believe that prices are the measure of inflation. Inflation is a monetary phenomenon that relates to an over-expanding supply of money. Price increases are largely a manifestation of that inflation, not the cause. Sadly, the dictionary definition of inflation was even changed 10 years ago to a rise in prices to foster the narrative that rising prices are equivalent to inflation.

Robert Fitzwilson Continues @ KingWorldNews.com