On pace for hyperinflation
posted on
Oct 02, 2008 07:47PM
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Based on Fed printing dollars over the last week, the money supply grew by $147.7 billion. If that pace continues, and it will, we will increase the money supply by 7.68 Trillion in the next year. Current board money supply is 14 Trillion. We will thus double the money supply in two years. Remember, this credit crisis is only in the 2nd or 3rd inning, and this pace will increase.
Hyperinflation is coming. Like a thief in the night, it will arrive.
"It was horrible. Horrible! Like lightning it struck. No one was prepared. You cannot imagine the rapidity with which the whole thing happened. The shelves in the grocery stores were empty. You could buy nothing with your paper money."
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WASHINGTON (AP) -- Banks and investment firms borrowed in record amounts from the Federal Reserve's emergency lending facility over the past week, providing fresh evidence of the credit stresses squeezing the country. For the week ending Wednesday, investment firms drew a record $147.7 billion.