Infowars.com – Its Getting Ugly Economist Says Hoard Gold & Scotch
Respected economist John Williams, editor of ShadowStats.com, a popular website that tracks real inflation figures, is advising that people hoard physical gold as well as food items in bulk so that they have some means with which to barter as the economic crisis turns ugly.
Three or four years into the future I think we could be in a hyperinflation, within the current year youre going to see much higher inflation than most people are looking at, Williams told MarketWatch.
Williams said that his definition of hyperinflation would be a situation in which a $100 dollar bill would become more functional as a piece of toilet paper than a store of value.
This is a time when you want to preserve your wealth and assets because inflation will knock the value out of it, he added, advising that people buy physical gold and assets other than the U.S. dollar.
Then when the hyperinflation hits youll see disruption of normal commerce, you wont have enough $100 dollar bills to buy what you want, said Williams, adding that items to barter with, such as a bottle of scotch, would be more valuable than actual cash, even in large quantities.
Williams said that such items should be procured now in bulk so people had some means with which to barter and get them through rough times.
At least as far back as April 2008, six months before the collapse of Lehman Brothers and Bear Stearns, Williams predicted that the world economy was entering a phase of hyperinflationary depression that would peak in 2010.
In a hyperinflation special report, Williams said that the U.S. was on an irreversible course of financial armageddon that would likely lead to extreme political change and/or civil unrest.
Top trends forecaster Gerald Celente has echoed Williams advice, remarking recently that putting food on the table will become a primary concern over buying gifts at Christmas.
Duration : 0:3:31
25 Responses to “Infowars.com – Its Getting Ugly Economist Says Hoard Gold & Scotch”
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Airelon, I assume …
Airelon, I assume I’ve misinterpreted you, and that you’ve misinterpreted me.
It’s utterly fallacious to suggest that you can increase wealth through credit expansion. It is completely counter-productive.
When the bust comes is when the fraud ends, when people see the extent of their misdirection, misallocated capital, and money deflates, the FRB banks collapse, people save and inefficient companies liquidate so the capital can be redisposed, efficiently as people have been SAVING!
JMK=wrong
No … it’s not. …
No … it’s not. It’s extending credit and funds electronically. It’s possible (note I said – possible) to distort the capital structure, but not towards inflation. Japan would have loved some inflation by this point, as they just went back to the QE teet (again)
For the U.S. Dollar however, it won’t work that way, and why I was telling ones months ago to start to look towards buying the U.S. Dollar, which is now higher than it’s been in 6 to 7 months.
People like John …
People like John Williams are what we in the industry call a “smidiot”. He’s very good at keeping track of metrics. He’s very intelligent. But when it comes to actually understanding the the mechanics of the capital markets … he’s an idiot.
Thus … a smidiot
QE is basically …
QE is basically printing money, even if it’s money that immediately chases some goods, bonds or whatever, the extra credit reduces the value of everyone’s Fiat money.
If I were wrong we could go back in time and monetise the dark ages by giving everyone copper coins, but it’s not chicken and the egg: if there are few goods in circulation to value against money, the ‘lubricant’ of QE cannot induce more productivity. It CAN, however, distort the capital structure thus misdirecting activity.
bias … one way or …
bias … one way or another. I don’t care what they do. To me … the entire system is silly.
From your …
From your professional point of view, do you not think that when supposedly reputable economists claim that we must prevent deflation by saving the monetary system from destruction, that they are missing the point? Because the people are causing the banks to collapse and are following alternate methods of saving for a REASON, viz, to save after the overconsumption of the boom years caused by distortions in the capital structure due to the Fed increasing FRB loans via decreasing interest rates!
As far as ” …
As far as “preventing” or not preventing anything – I’m not in one camp or the other.
I’m a trader – I just have to understand what’s going on – accurately – not what economists think. I mean seriously – listen to the video above. This is from February 18th of last year. Almost one year ago. So much for “hyperinflation”.
I’ve met economists who cannot accurately define QE – and think it’s “printing money”.
Basically – as a trader … I have to be a “one man shop”, and have no emotional
you must be a tard. …
you must be a tard… seems clear to me
the wealthiest …
the wealthiest families on the planet retard that’s who! You’ve obviously never had enough to ‘want’ to keep it. COINTELPRO idiot
Yeah, english IS …
Yeah, english IS easy, but getting through this period won’t be. What can I say?
Lo and behold the rise and fall of Creditopolis
Στην πραγματικότητα …
Στην πραγματικότητα, η ελληνική δεν είναι ότι δύσκολα…
However, Your Jargon is totally worthless.
Prove your merit. Explain to us simply and clearly what you mean without the jargon… You may even be right!
Να σπουδάσω …
Να σπουδάσω ελληνικά. Και μπορούν να μιλούν ρωσικά. Αυτό είναι αλήθεια. Αγγλικά δεν είναι δύσκολη. Ωστόσο, πιστεύω ότι έγραψα πολύ απλή οικονομική άποψη.
I have proven my merit. I’m an audited trader. I have called every short term bubble (3 month market expectation) since I went public in the last two years.
My reputation …
My reputation speaks for itself.
Come back to YouTube when you can even address the points that I’ve raised.
But then again, you’d probably need to UNDERSTAND the basic concepts I’ve raised, before you can address them. To someone such as yourself, it probably seems like Greek.
The true sign of a …
The true sign of a raving idiot is measured by their inability to explain economics in clear lay terms, like yourself.
Come back to you tube when you learn how to communicate.
The world is …
The world is collapsing. Why?1.Fractional Reserve Banking. 2.Elite families own the central banks, charge us to use our own money,we’ll never be out of debt, every dollar printed has debt attatched. 3.The world currency, the dollar went off the gold standard in the 70’s and has been losing value since.4.Infiltration,corruption and influence of the governments by the banking elite.5.Using big words and convoluted theories will not solve the problem. It’s all very simple.Take our money back…
would understand …
would understand this, & understand that the system cannot defeat the real interest rate as determined by the market.
Aggregates, in practice – are what have to be followed. It blows my mind that Friedman disciples cant understand the very variables that affect Friedmans beloved MV=PT.
What affects T for crying out loud. That’s what you should be following.
If you actually understood any of this, you would understand much of the ’supposed’ liquidity, much of the supposed ‘increase’ is gone
Deleveraging is …
Deleveraging is asset control, therefore the injections of money are gone. They’ve been converted.
watch?v=XVWX6sogYRI&fmt=18
It’s as I’ve said for a long, long time. You cannot defeat free market forces. Risk is asserting itself.
What is occuring in the markets is not to be feared. It’s to be welcomed.
I can’t even follow …
I can’t even follow that one. Do you mean devaluing a currency when you say “deflating a currency”? Deflating would be taking money out of the system, but I don’t see how that has anything to do with what you said.
You seemed to be saying that increasing money supply doesn’t matter – or at least until the time that it does matter, which to me seems utterly pointless to say.
Don’t confuse people with that stuff. Inflation is bad. This system is bad.
Increasing the …
Increasing the money supply may not matter.
But I assume you are aware of the two variables that have been PROVEN to AFFECT MV=PT. This is why it is more correct to use MV=PQ.
Any true economist understands 1) How difficult it is to track the money supply. You don’t even know what’s there, and 2) that due to MV=PQ – the liquidity that’s been “provided” to the system is already gone. There has been no increase.
The real interest rate is asserting itself. I would think any Friedman groupie
Oh please. I don’t …
Oh please. I don’t care that you call yourself an economist. Some of the stupidest people in the world call themselves that. They were all cheering for the status quo like screeching apes as this whole mess was about to unfold. They were talking about WEALTH as the PRICE of house or the PRICE of a stock! It was just inflated paper value.
I said you use short-term arguments just like Keynesians. I didn’t say you were one.
Please … please …
Please … please learn something of economics before you try to talk to an economist. I’m probably the largest anti-Keynesian on YT.
Who keeps money for …
Who keeps money for 100 years?
If you give me the choice of deflating a currency for a hundred years and improving real wealth (roads, freeways, infrastructure, defense, technology, science) in any given economy?
Or keeping the currency at the same level, and you can’t keep up with real wealth (I assume you understand that wealth is not a currency) of an economy?
I’ll choose deflating the currency for standard of living, each and every time. Who keeps money for 100 years?
What do you mean ” …
What do you mean “inflation fell”? The rate of increase in prices fell? Over a year or two? So freakin’ what?!? No matter what you say, everyone knows that inflation has been going on virtually uninterrupted since the Fed took over.
What did things cost in 1982 compared to what they cost now?
You keep getting sucked into these stupid short-term Keynesian arguments and ignoring the fundamentals and the big picture.
Debt is choking the world. ALL of it came from morons printing money.
No offence, but …
No offence, but it’s hard to take someone with a tag like IAmJerkingOff very seriously. It’s like watching someone debate in their underpants.
Get another account with a better tag and leave comments… just a suggestion.
PS. The thought f you jerking off to this vid kinda turns me on.
Fuck…, it’s over.
Fuck…, it’s over.