So if PS is even only half right on this, it’s going to get really bad in this country this year. How bad do you think it will get? I’m stocking up on food and ammo just in case the family and I have to hunker down until it all blows over.
It will lead IMO to an 80% devaluation of the dollar from present levels in the space of a month. Not necessarily hyperinflation, but a sharp devaluation event.
Which month? Possibly as soon as July 2011, the month after QE2 is supposed to stop. Possibly as late as July 2012.
When D-month happens, anyone holding USD currency will be wiped out.
And I don’t mean just in America. 60% of all USD is held overseas - and quite a lot of it is held by my own dear UK.
FReepers should take the usual domestic precautions, and also hold hard assets and precious metals.