Currency Meltdown Coming

March 17, 2011 10:15


The hyperinflation will come from bank bailouts and ongoing Quantitative Easing (QE or money printing) used to keep the financial system from collapse. Calamities in places like Japan will likely accelerate QE. The Fed will have to make up for the loss of Japan as a buyer of our debt.

Greg Hunter at USAWatchdog.com

EXCERPTS:

On the other side of the Pacific, the devastating pictures from that island nation are taking the attention away from our own, much more predictable, calamity coming from a tsunami of debt. As the U.S. and other world governments continue to print money to keep the banks and system solvent, a ball of debt is growing. It is on course to swamp the system.

Armstrong said, “This is coming at a time when governments are broke. We have state and local governments in a debt crisis and that meltdown is very real!!!!!!! Government is collapsing. That is the issue.” Armstrong says because of all the money created to bail out failing banks, gold is gaining in price. “This is not just inflation. We are on the verge of a currency meltdown this time,” said Armstrong. (Click here to read the latest report from Martin Armstrong.)

The latest analysis from economist John Williams of Shadowstats.com agrees with Armstrong. In a special report released yesterday, Williams warns a “great collapse nears.” Williams said the collapse will take the form of “a hyperinflationary great depression. Such will encompass a complete collapse in the purchasing power of the U.S. dollar; a collapse in the normal stream of U.S. commercial and economic activity; a collapse in the U.S. financial system as we know it. . .” The hyperinflation will come from bank bailouts and ongoing Quantitative Easing (QE or money printing) used to keep the financial system from collapse. Calamities in places like Japan will likely accelerate QE. The Fed will have to make up for the loss of Japan as a buyer of our debt. Williams said,“. . . the economic and systemic-solvency crises appear to be worsening, not improving, suggesting more, not less, quantitative easing.” This, in turn, will quicken the loss of buying power for the buck. So, we have a vicious cycle of QE coupled with declining tax revenue that is accelerating the “great collapse” scenario.

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