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Do you have a contrary point to DR. Faber's opinion piece? Any prophetic statements you made on CD the past year which have come true? I have the "Fannie/Freddie will fail" prediction entrenched on the archives, just months before its collapse. What have you?
But I have to give it to you: it was eloquent in its brevity
“I am 100 percent sure that the U.S. will go into hyperinflation,” Faber said. “The problem with government debt growing so much is that when the time will come and the Fed should increase interest rates, they will be very reluctant to do so and so inflation will start to accelerate.”
Nobody cares, least of all the obamunists who are applauding all that hopeNchange.
We can just hope we don't experience the same thing Germany did after World War I, when it took something like 4 trillion German marks to equal one U.S. dollar.
Thomas Woods has written a great book titled "Meltdown: A Free-Market Look at Why the Stock Market Collapsed, the Economy Tanked, and Government Bailouts Will Make Things Worse." He makes a very strong case for abolishing the Federal Reserve completely and returning America to the gold standard. As long as the Fed has been around, it has had the power to manipulate interest rates and the money supply, with horrendous boom-and-bust cycles. For unfathomable reasons, we just continue pursuing Keynesian economic policies involving staggering amounts of government spending that is supposed to "stimulate" the economy, completely preventing the free market from allowing people in business to effectively anticipate demand for their products and services.
The realist in me thinks this current talk of an economic recovery is groundless, and we're at the eve of an era of hyperinflation that will make the Carter years seem tame by comparison. We're piling on so much debt that our national credit rating is in danger of getting downgraded. What will happen when our government's only remaining recourse is to print gigantic amounts of worthless paper money that isn't tied to anything of real value such as gold or silver? May God help us.
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