The National Inflation Association has released a new video on the state of the economy. It highlights several critical factors that indicate we are facing an imminent currency meltdown.
As any student of the Austrian School of Economics will tell you, during periods of hyper-inflation, not all prices rise. Typically what happens are things like housing remains stagnant or falls in price because it has been over-built in the bubble leading up to the period of hyper-inflation, while things like consumers goods, food, and energy skyrocket in price exponentially.
We are seeing this trend unfold RIGHT NOW in real time. It is not at some point in the distant future that we will experience massive inflation in food and energy costs, such costs are surging as we speak.
Further, there is good evidence to suggest that the price spikes in commodities we have already seen are only a prelude to Wiemar Republic super-chaos that is sure to follow our criminal government’s reckless printing of money.
Yet another must watch.
Some recent headlines from the Drudge Report:
|World moves closer to food price crises...|
I love this Reuters article Drudge just linked:
U.S. jobless claims jumped to their highest level since October last week while food and energy costs lifted producer prices in December, pointing to headwinds for an economy that has shown fresh vigor.
As if surging commodities prices mean we are experiencing economic growth.
Reuters needs to get some reporters that don’t guzzle government koolaid like 10 year olds.
U.S. producer prices climbed 1.1 percent in December after a 0.8 percent rise in November
If you do the math, that works out to an 11.4% annual inflation rate in producer prices.
Hyper-inflation defined by the International Accounting Standards Board’s a cumulative inflation rate over three years approaching 100% (26% per annum compounded for three years in a row) .
So we are nearly half way there right now.
It is also important to note that those numbers are hedonically adjusted GOVERNMENT numbers – which we all know are nothing more than lies.
The real rate is far higher.
In other news:
Three days ago we noted that in just the first week of January, the US Mint had sold 2,221,000 ounces of silver “a number which if run-rated would be an absolutely all time monthly record,” A quick glance at the tally today, shows that something very scary is going on. In the subsequent three days, the number has surged by 50% and has hit 3,407,000 ounces of silver! In just the first 12 days of the month we have already surpassed the total monthly sales of 9 separate months of 2010.