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... then the only place to put your money in is very safe government bonds. Deflation will give you a reasonable real return at a time when other asset values are declining.

They are also saying buy gold but that does not seem safe to me. Gold is part commodity and part financial instrument and has been counter-cyclical in the past. But one never knows which component is going to be driving the bus at any one time or which way that bus is going to be steered.

I don't know if he said it in this interview (yes, I am doing the unthinkable and posting without listening to the interview. I would read an article, but I find audio annoying - plus I've heard numerous interviews of his already) - but he is predicting hyperinflation. 'Stagflation', acutally, where there is huge inflation but also wages stagnated. He thinks the dollar will be worth 10% of what it is now. Hence the advice to buy gold.

I hope he is wrong.

I've always been a big believer in silver myself.

Granted it doesn't have the purchasing power of gold, but it'll be far easier to trade I think.

We've got 7 or 8 pounds of pre-1964 coins put back as well as a decent size stash of silver rounds.

We've got a big of gold, but it's nearly impossible to find now and when you do the price is out of sight.

Of course we also in vest in base metals like brass, copper, and lead.

BICSID.