blam~:” (from the title) John Williams: How To Survive the Illusion Of Economic Recovery “
Yeah , don’t watch television in the U.S.
Look for foreign sources that are not quite as contaminated.
“Economic Recovery” occurs only in Zero’s dreams
“Live every day as your last...one day you will be right.”
This article is amusing. Williams states his premise and then gives evidence that conflicts with it.
I agree with some of what he writes here, but his conclusion of hyperinflation is wrong, thank goodness. Things will be bad enough without that.
What these warnings fail to calculate is the ability of central banks all over the world to coordinate to prevent deflation and inflation at the same time. Problem is all these gov (US/EU/Japan) fail to do is get their gov to live within their means. Printing currency to keep banks afloat and buying their own T Bills with the printed currency to keep the gov from defaulting on its debt will eventually come to an end. The BRICS know the US dollar is shaky, and have embarked on local alternatives to use in trade. That is why China, Russia, India and even Brazil gov is buying gold for their central banks. Several years back China surprised the world by announcing she had 1054 tons of gold in her central bank, and ever since stop exporting gold and keeping all her production to herself (400 tons a year) and we do not know how much she had brought thru Hong Kong from scrap and bullion. China is using letters of credit with her trading partners. Will she and her alternative dollar nations use this system to settle trade, and eventually will China back her letters of credit with her gold reserve. Today China just surpass the US as the largest trading nation in the world. If she decides to use the letter of credit concept for most of her trade in lieu of settling trade in US dollars, that is a lot of US dollars sitting idle doing nothing. That huge supply of dollars overseas and coming home to the US can cause inflation.