Yahoo Finance has released an interview with Jim Rickards discussing QE∞.  Rickards states that the Fed will continue printing until the bottom falls out of the dollar, and at that point, the chickens will come home to roost, and US citizens can expect MASSIVE INFLATION OVERNIGHT.

Full interview below:

  1. The dollar is done. Most people won’t agree but it just a shadow now IMO. I really think there is no turning back regardless of what the MSM, Republicans or Democrats say. I hope they can keep it going for a while longer (2-3 years) but I think the time will be less. Stack away all!

    • No, fiat currencies are done, for those astute enough to recognise the essence of fiat. They’re all check-kiting schemes and so measuring debt against debt is an insane approach to finding value. The dollar will remain measurable against the rest of them but that is no indication of value. As we here know, gold measures value. In a free market it would be measuring the value of the dollar at outlandish numbers.

    • “In a free market it would be measuring the value of the dollar at outlandish numbers.”

      Yeah, as if a rise from $35 an oz. to $1800 an oz. is not already pretty outlandish.  I hear what you are saying, though.  This WILL get worse… a LOT worse before good times return.  Got silver?
       

    • Actually, it’s not just the US dollar who would also be done, the whole fiat system will collapse also. Because all fiat currencies are related to the US dollar so if the US dollar collapses, then so will all the other currencies as well. I can mathematically prove people that the fiat dollar is losing values everyday.

    • Agreed, Charlie.  The Fed’s history shows that they always cut rates too late, too deep, and hold them low for too long.  This is what is creating most of the valuation bubbles that we have had in the US, whether it be Internet stocks, housing, or now government paper. They are not very good at handling unintended consequences either, so everything that comes out of the current money printing barrage will be a “surprise” to them.  Those of us who know the effects of inflation when we see them are not surprised to find that US inflation is currently at 9.5-10% and not at the invented number of 2% that Bernanke insists is happening.  I guess that we would have to be economists to understand that fine a point.  :-/

  2. With the recent announcement by the IMF of making the Canadian and Australian dollars reserve currencies the US dollar is toast. Add in China and Russia trading in their own currencies, gold for oil and it is a matter of time before the dollar is just monopoly money.

    • Agreed, Mary.  I consider this “The Zimbabwe Plan” for the USA.  We too can have a currency that is devoid of all value if we will just follow this brilliant plan.  Well, thanks but no thanks!

    • The Canadian and the Australian dollars will also soon end up like the US dollar because they all have the same problems. It’s just that the Canadian and the Australian dollars’ problems are less worst than the US dollar, for now!

    • No, UD, they won’t.  But this is typical of those who always sally forth to fight the LAST war and not the current one.  Just think… they all laughed at Peter Schiff when he told them what he thought was coming.  Now that most of what he said would happen has happened, we don’t hear a lot of that laughing.  It’s a lot closer to a sick chuckle, if anything.
       

  3. The Federal Reserve will sure keep printing dollars out of nothing which will devalue the US dollar a lot because they have already admitted that they’ll do QE infinity publicly. All fiat currencies in history have ended up at the end with hyperinflation.

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