by Jim Rickards, Daily Reckoning:

It’s an election year. Interest rates are high relative to current inflation rates and are the highest they’ve been since 2006.

Do those two conditions have anything to do with each other? The Federal Reserve would say no but history would say yes.

On the one hand, the Federal Reserve has always maintained they are above politics. According to Fed propaganda, members of the board of governors check their politics at the door of the Fed boardroom and act solely on the basis of economic data and what’s best for the U.S. economy in terms of inflation and unemployment.

Of course, that’s nonsense. The Fed has always been highly political. It’s just that they’re very good at hiding it.