The Biden White House and Democrats desperately want to blame Russia and the war in Ukraine, even though inflation was spiking long before the war ever started. The Federal Reserve pretended for years that inflation was not a threat at all despite numerous alternative economists warning what would happen. Now they blame supply chain disruptions instead of their own monetary policies. The GOP wants to blame Biden alone for the crisis while ignoring the dominant role of the Fed in the economy (and their unilateral power) over the course of multiple presidencies.

In the alternative sphere there are some people that try to deny the fact that there is more than one type of inflation. They want to claim it's all about money creation, but this is simply not true. There is inflation in money supply, but there is also price inflation caused by numerous factors including bottlenecks in production, bottlenecks in resources, bottlenecks in shipping, bottlenecks in energy, etc. Anyone that denies this fact is blinded by bias or just doesn't understand how inflation really works.

Overall, it's fair according to the evidence to put MOST of the blame on the central banks and their 14 year program of bailouts and QE policies. If you have read my previous articles on the Fed's involvement you know that my position has remained the same for years – I predicted a stagflationary crisis based on the position that that the Fed was deliberately creating a monetary disaster to make way for a new digital currency system tied to a global framework, and this is exactly what has happened so far.