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Monopoly money or gold bullion - the choice is yours.

March 30, 2011 - When hyperinflation hits, all the cash in Scrooge McDuck’s vault won’t buy him one milligram of gold bullion. That’s the true nature of hyperinflation: Currency does not become worth less, it becomes worthless.

Those of us who have raised that tattered red flag time and again are usually dismissed out of hand as fear mongers. Those so ready to do so, however, are the very ones who have driven us to the brink. Yet they still insist that all we need is more of the same ludicrous policy to deflate our way out of trouble. And they say that we’re nuts.

What they fail to mention is that hyperinflation - in other words, currency collapse - has been the fate of every single fiat currency throughout history. It has always happened in fewer than one hundred years. And in today’s global climate, that time expectancy has been drastically shortened.

To make matters worse, because of globalization the threat is no longer isolated to a single economy. Japan will be next to join the money printers as it struggles to reconstruct under the crushing burden of debt that is already double its GDP. Mountains of indiscriminately printed paper money will soon account for a huge proportion of global economic activity, and that is a recipe for disaster.

Even as China forges ahead in its bid to become the dominant force in the global market, it has taken strong steps to weather the impending storm. Last week the people of China were told in no uncertain terms to buy gold bullion to protect their wealth and to hedge against collapse of the international monetary system.

Our government doesn’t see things that way, and continues urging Americans to throw their money away on high risk equities that will be as worthless as the dollar should the worst happen.

The end is not as far away as you might think. Only two supports remain for the falling dollar, after which it is anybody’s guess how much longer we will have before hyperinflation strikes.

But there is one undisputable fact. When the end time comes, collapse will be swift and complete. The opportunity to save ourselves will be lost because all the bucks Bernanke can print won’t buy one scintilla of gold bullion.

Daily Updates Archive

Jonathan Monroe

Senior Staff Writer -

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