“The U.S. has no way of avoiding a financial Armageddon,” says our friend the always chipper John Williams, expecting something much more ominous than a mild recession.
“Bankrupt sovereign states most commonly use the currency printing press as a solution to not having enough money to their obligations. The alternative would be for the U.S. to renege on its existing debt and obligations — a solution rarely seen outside of governments overthrown in revolution…”
At the current pace, “Hyperinflation could be experienced as early as 2010, if not before, and likely no more than a decade down the road. The U.S. government and Federal Reserve already have committed the system to this course through the easy politics of a bottomless pocketbook, the servicing of big-moneyed special interests and gross mismanagement.
“While the dollar has taken a heavy hit — down roughly 20% against key currencies from last year — selling of the U.S. currency still has been far short of the outright dollar dumping that eventually will lead to flight to safety outside of the U.S. dollar.”
“Bankrupt sovereign states most commonly use the currency printing press as a solution to not having enough money to their obligations. The alternative would be for the U.S. to renege on its existing debt and obligations — a solution rarely seen outside of governments overthrown in revolution…”
At the current pace, “Hyperinflation could be experienced as early as 2010, if not before, and likely no more than a decade down the road. The U.S. government and Federal Reserve already have committed the system to this course through the easy politics of a bottomless pocketbook, the servicing of big-moneyed special interests and gross mismanagement.
“While the dollar has taken a heavy hit — down roughly 20% against key currencies from last year — selling of the U.S. currency still has been far short of the outright dollar dumping that eventually will lead to flight to safety outside of the U.S. dollar.”
No comments:
Post a Comment