Greg Pinelli

Is Hyperinflation on the Horizon?

Interesting down the road vision..one I largely agree with. Either all this debt is bought at the bill or bond level..or it's monetized. Their doesn't seem to be much foreign ability to buy at this point..so..once budgets go out the window the results get ugly.
The key is velocity..once these huge chunks of raw credit start moving thru the markets and find their way into loans, personal or business, then the game is on. Gold then kicks in as the default currency..it certainly isn't officially chosen!
My take is we'll go right to the edge and revisit 1978-80..15% will really get the ball rolling, but there won't necessarily be a Paul Volcker around to put out the fire. I could tell you what's next..but noone's going to like that story.