I had earlier blogs that are videos by Weiss and Lombardi forecasting very soon the financial catastrophe in the US. The cause, as Livingstone sees it is the same for Weiss and Lombardi: huge deficits ($1.3 trillion as of 20ll) vs just $l6l billion in 2007 just before the recession. This is coupled with mountains of debt that US has with foreign countries.
Bob compares the US situation in Germany in the l900 where inflation raged from mere 300 billion to 800 billion times. The $l0b mortgages in 1913 was worth a penny ten years later. Not a good sight for the US dollar, the almighty US green back. It cant be the same as Jap scrip mickey mouse money we used to have in WW II under the Japanese. In Germany.s case, the currency were brought via wheel barrow to buy few goods, or were used to insulate rooms, or burned to keep people warm.
Us dollar has lost l6% of its value in the last 36 months; will it lose more?
China, the largest US creditor is very much worried about its investment in US treasuries. When Sec. Geithner told students in China that their holdings of US securities were safe, he was laughed off. And China wants SDR as the world currency, and even yuan, not the US dollar anymore.
If there were hyperinflation in USA:
l. What would Americans do?
2. How would they preserve the quality of life?
3. How would they protect their investments?
4. Would there be a repeat of Germany, USSR or Brazil hyper inflation?
5 Are these concerns over, or realistic?
Be the judge.
Will you also Burn your Dollars when there is Hyperinflation?
Bob is selling books and publications too. This blog neither endorses nor opposes such pitch.
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