| John Burns - 1/30/2015 13:21
Armstrong simply does not believe there is any way confidence could be lost in the US dollar. Or at least he will not say the "H" word in the same sentence with it, which is what a loss of confidence in a currency is. When no one wants to hold it or will accept it as payment, that is what hyperinflation is. It becomes worthless or near worthless. Then something replaces it.
I don't believe that is what he says at all.
"First you have the massive DEFLATION and then government is forced to debase the money supply that finally reverses the economy sending it into a INFLATIONARY spiral."
"The second phase is when gold will rise. But you first have the DEFLATION that reduces tax revenues and then you have the INFLATION set in motion by rising costs."
The question here is, IMHO - how do you bet your money, and how much insurance should you carry in case things don't unfold the way you think they should. |
John - inflation/deflation - probably one after the other
