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Leave No Doubt 05-27-2009 03:59 PM
Faber Warns Of Hyperinflation
 
PHD economist Marc Faber of Marc Faber Inc. tells Bloomberg that if the Fed doesn't raise interest rates prices will take Zimbabwe-like gains. The direness of '09 was also prdeicted by Celente early this year and last week by Jim Rogers on CNBC. Ellen Brown also wrote about hyperinflation back in March, wondering about a Weimar type hyperinflation and it was picked up last week by Global Research.

Read/listen and weep:

Bloomberg News

The Weimar Hyperinflation? Could it Happen Again?

patsfan13 05-27-2009 04:02 PM
Re: Faber Warns Of Hyperinflation
 
Like I said during the campaign the Obama economics would be like J Carter on steroids. This was tried in the 70's and we had 18% interest rates, this could be worse.

The populations is older and entitlements are in worse shape. THe spending is larger as a % of GDP as well as the Debt and deficit.

Leave No Doubt 05-27-2009 04:40 PM
Re: Faber Warns Of Hyperinflation
 
The spending began under Bush's watch but Obama's taken it to a whole new level. It's THE FED tho, that's the true culprit here.

What's interesting about it is how parallel we're running to what happened in Weimar. Obama's methods *could* work except for one thing:

Quote:
The Real Weimar Threat and How It Can Be Avoided

Is the United States, then, out of the hyperinflationary woods with its “quantitative easing” scheme? Maybe, maybe not. To the extent that the newly-created money will be used for real economic development and growth, funding by seigniorage is not likely to inflate prices, because supply and demand will rise together. Using quantitative easing to fund infrastructure and other productive projects, as in President Obama’s stimulus package, could invigorate the economy as promised, producing the sort of abundance reported by Benjamin Franklin in America’s flourishing early years.

There is, however, something else going on today that is disturbingly similar to what triggered the 1923 hyperinflation. As in Weimar Germany, money creation in the U.S. is now being undertaken by a privately-owned central bank, the Federal Reserve; and it is largely being done to settle speculative bets on the books of private banks, without producing anything of value to the economy. As gold investor James Sinclair warned nearly two years ago:

“[T]he real problem is a trembling $20 trillion mountain of over the counter credit and default derivatives. Think deeply about the Weimar Republic case study because every day it looks more and more like a repeat in cause and effect . . . .”9

The $12.9 billion in bailout funds funneled through AIG to pay Goldman Sachs for its highly speculative credit default swaps is just one egregious example.10 To the extent that the money generated by “quantitative easing” is being sucked into the black hole of paying off these speculative derivative bets, we could indeed be on the Weimar road and there is real cause for alarm. We have been led to believe that we must prop up a zombie Wall Street banking behemoth because without it we would have no credit system, but that is not true. There is another viable alternative, and it may prove to be our only viable alternative. We can beat Wall Street at its own game, by forming publicly-owned banks that issue the full faith and credit of the United States not for private speculative profit but as a public service, for the benefit of the United States and its people.11
and the one thing is bolded. How can we beat Wall Street at it's own game when it's none other than Wall Street who populates Team Obama's House?

Our present govt is so in bed with Wall Street and the Federal Reserve it should be illegal.

shmessy 05-27-2009 04:41 PM
Re: Faber Warns Of Hyperinflation
 
Shmessy warned of that for the past 7 months.

Leave No Doubt 05-27-2009 04:50 PM
Re: Faber Warns Of Hyperinflation
 
Quote:
Originally Posted by shmessy (Post 1392650)
Shmessy warned of that for the past 7 months.

I should just get all my economic news here ;)

PatriotsReign 05-27-2009 04:52 PM
Re: Faber Warns Of Hyperinflation
 
Quote:
Originally Posted by Leave No Doubt (Post 1392662)
I should just get all my economic news here ;)
I think this is a ploy to get all those who are considering buying a house or a car to buy one now before interest rates sky-rocket. :D

Think about it...it could even work! ;)

Leave No Doubt 05-27-2009 05:16 PM
Re: Faber Warns Of Hyperinflation
 
No offense but I'd stick with Faber

Quote:
Faber is well respected for accurately predicting both the financial crash of 1987 and the current crisis.
Anyway:rolleyes:, for anyone waiting for Obama's Federal Reserve White House to bail you out,Prominent Economist: Crisis Caused By Government Interventions

patsfan13 05-27-2009 06:48 PM
Re: Faber Warns Of Hyperinflation
 
More on the government and the road to a Fascist state:

Thomas Sowell : Economic Micromanagement - FOXNews.com

maverick4 05-27-2009 08:44 PM
Re: Faber Warns Of Hyperinflation
 
It's already happening and there's nothing to stop it. Bread is going to cost about 10 bucks in a relatively short amount of time.

IcyPatriot 05-27-2009 09:20 PM
Re: Faber Warns Of Hyperinflation
 
I'm going to Home Depot tomorrow to get a bucket to replace my wallet.
Was Obama smoking a doob during 1920's history class when they discussed Germany ... or Hungary of the 1940's.

Like I keep saying either Bush did not spend enough or Obama is spending too much ... the media needs to report this correctly. Obama's people keep saying Bush spent too much ... but how is that possible if Obama felt the need to spend even more to correct things?


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