The link is to an article from Matterhorn Asset Management.

It is excellent. I would only quibble with statement copied below and that's only a matter of wording not outcome. (viewpoint so to speak)

In the section copied below, I would have left out the word deflationary which I have underlined: In my opinion it should begin, "A horrific implosion of credit and assets financed by.....there is no deflation (decrease in amount of currency) invovled, it is a correction of outrageously mispriced assets including the credit itself.

Putting "credit" into the (money = currency + credit) equation only confuses things because credit can get mispriced too. It is mispriced right now and has been for years. If this isn't corrected, credit will implode but that isn't deflation IMO.

"There will be hyperinflation. A deflationary implosion of credit and assets financed by a credit bubble is the necessary precondition to hyperinflation. In order to counteract these deflationary factors, the government will be printing unlimited amounts of money. It is the fall of the currency that causes hyperinflation and the US will be no exception. The fall of the dollar will lead to a hyperinflationary depression in the US."

http://matterhornassetmanagement.com/2009/12/07/gold-is-not-going-up-paper-money-is-going-down/

P.