1. I cannot refute Weiss' claims. This doesn't make them accurate. However, there is no doubt, unfortunately, a lot of truth in what he says.
2. I have found that there is so much information available today, much of it via the Internet, that one can probably find support for any viewpoint if they want. This just makes it all the more difficult to know where the truth in a matter lies.
3. I don't mean to side step what you see as simple questions. I don't see this question as being simple at all, however.
1. That fact that can not refute them, lends readers confidence, in the credibility of them, thank you. What truth do you find in his case for the economy of the US?? (serious question, would love to hear your opinion)
2. Now you go on to try & detract from their validity, by suggest one could find evidence for any-thing on the net, if one should so desire. This is not very good, as far as counter arguments are concerned.
If this is so, please do feel free to go & find a solid counter argument to the dysgenics post that W8M8 so kindly gave us on page 34 (post 845)
3. The question was not simple?? Oh-my.
Economics/inflation 101A country prints far too much of it's currency & puts it in-to circulation, this devalues the existing unit of currency & causes inflation.
If this principal if followed with too much aggressiveness, it will lead to hyper inflation. If followed still further it will result in the collapse of that unit of currency.
Now, please do explain what is so complicated about that. Conversely, you could just admit that Celente, Weiss, et al - are correct on this point.
Lessons from history 1923 - 1989 (these are just x2 example of the many we could study)
Weimar Germany 1923Some worried commentators are predicting a massive hyperinflation of the sort suffered by Weimar Germany in 1923, when a wheelbarrow full of paper money could barely buy a loaf of bread. An April 29 editorial in the San Francisco Examiner warned:
“With an unprecedented deficit that’s approaching $2 trillion, [the President’s 2010] budget proposal is a surefire prescription for hyperinflation. So every senator and representative who votes for this monster $3.6 trillion budget will be endorsing a spending spree that could very well turn America into the next Weimar Republic.”
In an investment newsletter called Money Morning on April 9, Martin Hutchinson pointed to disturbing parallels between current government monetary policy and Weimar Germany’s, when 50% of government spending was being funded by seigniorage – merely printing money
Argentina 1989John Mauldin describes the hyperinflation that infected Argentina in 1989, emphasizing that it was a political decision to print money to cover massive budget deficits. Now the United States is tempted to follow that path rather than make the painful adjustments to less spending.
As is often said, those who do not understand history are doomed to repeat it. … the United States in particular, and the developed world in general, are faced with a series of very unpleasant, if not downright bad choices. The time for good choices was ten years ago. Now we face the prospect of painful decisions, no matter what we do. It is not a matter of pain or no pain, of somehow avoiding the consequences of our bad decisions, it is simply deciding how much pain we will take and when, or allowing the pain to build up to a climactic event. Today we look at what I think would be the worst choice of all.
At the beginning of the 20th century, Argentina was the seventh richest nation on earth. It’s very name means “silver.” “As rich as an Argentine” was a byword. Even after falling from the heights through a series of bad decisions, the country was still so wealthy that, in 1946 when new president Juan Peron first visited the central bank, he could remark that “There was so much gold you could barely walk through the corridors.”
Argentina had actually defaulted on its debt in the late 19th century, not once but twice! But still they managed to avoid destroying the currency and devastating the country. But in 1989, after years of massive budget deficits that were financed with borrowing from abroad and Argentinian citizens, the country was left with so much debt and no one was willing to lend it any more money, that the leaders felt compelled to resort to the printing press.
http://financialcrisisaftermath.com/the-instability-scenario/lessons-from-argentinas-hyperinflation/This all sounds awfully familiar, no??
PT
