“…my recent longish piece, describing how hyperinflation might happen in the United States, clearly struck a nerve… Essentially, I argued that Treasury bonds are the New and Improved Toxic Assets. I argued that, if there was a run on Treasuries, the Federal Reserve—in its anti-deflationary zeal, and its efforts to prop up bond market prices—would over-react, and set off a run on commodities. This, I argued, would trigger hyperinflation… However, there were two issues that many readers had a hard time wrapping their minds around, with regards to a hyperinflationary event…”
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