Everyone who holds USD will share in the pain of an 80% devaluation event sometime later this year: I predict between the end of June and the end of December.
It will be a sharp devaluation taking place over a few weeks. Anyone in cash will be wiped out.
This is simply what must happen when the USD finally loses reserve currency status. The US has no other way of meeting its crushing debts and is not currently taking steps to increase its GDP or to deal seriously with debt (rather the reverse in fact).
Once D-month is over, I predict that the dollar will continue to (slowly) lose buying power until you guys elect a Conservative President. Then it will rise again.
I may prove to be wrong about the timing. But the scale of the devaluation is about right. This is going to be the largest movement of wealth in human history, because your government has amassed the most enormous debt in human history.
You've just proved that agere_contra doesn't believe it either. Oh, sure he convinced enough to say he believes it, but no way in hell is he about to even consider say, dollar puts. SAJ, on the other hand, has real clear ideas about inflation --I may disagree with him on his 'how-much-and-when', but when SAJ speaks he's got the stones to back up big talk with big bucks.
Unless of course agere's already maxed out the contracts in which case I'm the one talking nonsense...
Assuming salaries even slightly increase as a result of a devalued dollar, it’ll help MY personal wealth-building a lot as paying off debt will be easier.
Not that I have that much debt really, but still...